Meaning and Types of Trade

Subject : 

BUSINESS STUDIES

Term :

First Term

Week:

Week 8

Class :

JSS 1

Previous lesson : 

The pupils have previous knowledge of What an office is. they have also been taught the different types of departments in an office .

Topic :

INTRODUCTION TO OFFICE TRADE

Behavioural objectives :

At the end of the lesson, the pupils should be able to

• define trade
• say the importance of commerce

Instructional Materials :

• Wall charts
• Pictures
• Related Online Video
• Flash Cards

Methods of Teaching :

• Class Discussion
• Group Discussion
• Asking Questions
• Explanation
• Role Modelling
• Role Delegation

Reference Materials :

• Scheme of Work
• Online Information
• Textbooks
• Workbooks
• 9 Year Basic Education Curriculum
• Workbooks

WEEK EIGHT

TOPIC: TRADE

CONTENT

• Meaning of Trade
• Home Trade
• Foreign Trade
• Entre-pot Trade

NOTE

Meaning of Trade: trade is the buying and selling of goods and services. It can also be defined as the activities which cover exchange, buying and selling of goods and services

Branches of Trade

Trade has three main branches which are as follows

1. Home Trade: this is the act of exchanging, buying and selling of goods and services within a country. For an example: Mr. Ade in Lagos buys goods from Mr. Aminu in Kano . This is home trade because both the buyer {Mr. Ade} and the seller {Mr. Aminu} are Nigerians and they reside in Nigeria. In home trade only one currency e.g (naira in Nigeria) is in use. Home trade is divided in two wholesale and retail trade
2. Wholesale Trade: involves buying in large quantities from the manufacturers and selling to the retailers. Those involved in wholesale trade are called wholesalers
3. Retail Trade: this involves buying in small quantities from the wholesaler and selling in units to the final consumer. Those involved in retail trade are called retailers

EVALUATION

1. List the functions of wholesalers and retailers in the chain of distribution.
2. What is home trade?

B. FOREIGN TRADE: this is the exchange, buying and selling of goods and services between two countries. For example between Nigeria and Ghana. Foreign trade is also a trade between a citizen of one country and the citizen of another country. For example between Ade in Lagos, Nigeria and Kofi in Accra, Ghana. Buying in foreign trade requires the use of foreign currency.

C. ENTER-POT TRADE: this is buying from one foreign country to sell to another foreign country. Eg. Mr. Ade in Nigeria buys from Kofi in Ghana in order to sell to Mr. Johnson in London.

EVALUATION

• 1. Define trade
  2. List and explain the three main branches of trade

READING ASSIGNMENT

Business Studies for J.S.S 1 by O.A Lawal and other pages 14-15

WEEKEND ASSIGNMENT

1. Foreign trade requires the use of a. bids c. cowry shells c. foreign currency d. naira and kobo
2. The main branches of trade are the following except a. home trade b. enter-pot trade c. foreign trade d. general trade
3. Wholesale trade is a branch of a. home trade b. foreign trade c. none of the above
4. A trade between Obi in Nigeria and Ojo in Nigeria is known as a. foreign trade b. home trade c. friendly trade d. Nigeria trade
5. A trade between Nigeria and Togo is known as a. neighbor trade b. home trade c. Africans trade d. foreign trade

THEORY

1. List the three main branches of trade
2. What is retail trade?

REVISION /EVALUATION QUESTIONS

1. Define occupation
2. Give another name for occupation
3. What is your father’s occupation?
4. Why does your father engaged in an occupation?
5. Among the classes of occupation, where does your father’s occupation fall?

Presentation

The topic is presented step by step

Step 1:

The class teacher revises the previous topics

Step 2.

He introduces the new topic

Step 3:

The class teacher allows the pupils to give their own examples and he corrects them when the needs arise

Conclusion

The class teacher wraps up or conclude the lesson by giving out short note to summarize the topic that he or she has just taught.

The class teacher also goes round to make sure that the notes are well copied or well written by the pupils.

He or she does the necessary corrections when and where  the needs arise.