AIDS TO TRADE
Subject :
BUSINESS STUDIES
Term :
First Term
Week:
Week 9
Class :
JSS 1
Previous lesson :
The pupils have previous knowledge of
that was taught in their previous lesson
Topic :
AID TO TRADE
Behavioural objectives :
At the end of the lesson, the pupils should be able to
- define aids to trade
- mention channels that are aids to trade
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
Content :
AIDS TO TRADE
Aids to trade are those channels or vehicles that are used to boost or accelerate business . The are the auxiliary channels that are used to facilitate the acts of doing business .
Examples of Aids To Trade are
- Transportation
- Banking
- Insurance
- Warehousing
- Communication
- Advertising
- Tourism
Importance of Aids To Trade
- Transportation : This involves the movement of people , services and goods from one place to another to facilitate business activities .
- Banking : Banks provide the necessary financial aids to various businesses that are either small , SME or large . These aids from banks may be inform of loans for capital or loans for any other business activities
- Insurance : Insurance is pooling of risks for a consideration that is known as premium . Insurance covers risks of businesses and indemnify them in event of loss
- Warehousing : Wholesalers buy goods in large quantity with the hope of selling in small quantity to retailers . Warehousing provides storage facilities for wholesalers and producers to store their goods .
- Communication : Communication is the transfer of business ideas and thoughts from one person to another with the aid of getting effective feedback . Prospective business partners communicate with each others with the hope of doing business with each other . this is made possible with the use of telephones , emails , letters etc.
- Advertising : This involves making the existence of a products known to customers . This is the activity that is concerned with informing members of the society that a particular good or service exists, its quality and function. Advertising is an aid to trade because it creates an awareness and demand for goods and services
- Tourism : This involves the involvement of foreigners to visit places of interest for pleasure purpose . It covers all the activities which make someone on tour to be comfortable examples of activities under tourism are good hotel accommodation, tourists centers etc. tourism assists trade because tourists from foreign countries bring foreign currency into the economy
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.
EVALUATION
- What is trade
- What is Aids To Trade
- Mention any five aids to trade that you know
- Explain any two aids to trade
- Who is a trader
- Who is a wholesaler
- Who is a retailer
- Draw the division of trade
- What is home trade?
- Mention traders who are involved in home trade
Objectives
- The following are aid to trade except (a) advertising (b) insurance (c) banking(d) manufacturing
- Aids to trade can also be called (a) auxiliary to trade (b) friends of trade (c) foreign trade (d) home trade
- Banking is an aid to trade because (a) it keeps a lot of money (b) bank managers are in commercial occupation (c) many banks works on Saturday (d) it can save and lend money to various traders
- Warehouse is useful to trade because (a) it is a means of keeping goods until they are demanded (b) it causes scarcity of goods (c) it can lead to inflation (d) it moves goods from one place to another
- Insurance is useful to trade because (a) it links buyers and sellers together (b) it moves goods from point of production to where they are demanded (c) it prevents scarcity (d) it encourages businessmen to undertake risky business
