Junior Secondary School Business Studies JSS 1
Introduction to Business studies.
FIRST TERM E – LEARNING NOTES
SUBJECT: BUSINESS STUDIES
CLASS: JSS 1 (BASIC 7)
DIVISION OF COMMERCE
Previous lesson :
The pupils have previous knowledge of
Introduction to commerce: meaning of commerce, importance of commerce and activities that aid commerce,
Behavioural objectives :
At the end of the lesson, the pupils should be able to
- EXPLAIN THE DIVISION OF COMMERCE
- SAY THE MEANING OF HOME TRADE
- SAY THE DIFFERENCE BETWEEN INTERNAL TRADE AND INTERNATIONAL TRADE
Instructional Materials :
- Wall charts
- Related Online Video
- Flash Cards
Methods of Teaching :
- Class Discussion
- Group Discussion
- Asking Questions
- Role Modelling
- Role Delegation
Reference Materials :
- Scheme of Work
- Online Information
- 9 Year Basic Education Curriculum
.DIVISION OF COMMERCE
- Classification of commerce into Division,
- Types of trade –
- Home trade :wholesale and retail sales
- Foreign trade: Import and export
CLASSIFICATION OF COMMERCE/DIVISION OF COMMERCE
MEANING OF TRADE: Trade could be defined as the exchange or buying and selling of goods and services.
Division of Trade: Trade is basically divided into two namely – Home Trade and Foreign Trade.
HOME TRADE: This is the buying and selling of goods and services within the country. Examples are trade between Calabar and Uyo, Lagos and Enugu. One of the features of Home trade is that a common unit of money (naira) is accepted as a means of payment for the trade. Home trade is further divided into Wholesale and Retail trade.
- Wholesale Trade: This involves buying goods in large quantity from the manufacturer or producer and selling in small quantity to the retailer.
- Retail Trade: This involves buying goods in small quantity from the wholesalers and selling in bits or units to the final consumers.
There are two types of retail traders in Nigeria namely large scale retailers and small scale retailers. Large scale retailers are Department stores, supermarkets, mail order firm etc. Small scale retailers are market stall owner, kiosk, hawkers etc.
SUB TOPIC: FOREIGN TRADE
Foreign Trade: This is the buying and selling of goods and services between two or more countries. It is divided into Imports and Exports trade.
Import Trade: This is the buying of goods and services from other countries into our country. For example, trade between Abuja and Accra; Lagos and USA etc. Nigeria imports goods like automobile parts, electronics etc. It is further divided into visible and invisible import.
Export Trade: is the selling of goods and services produced in Nigeria to other countries that need them to satisfy the needs of their citizen. Nigeria exports goods like groundnuts, palm produce, rubber and cocoa, crude oil etc. This is also divided into visible and invisible export.
Business Studies for Junior Secondary School Book 1 produced by Cross River State Government Chapter 4 pages 23-24
- Trade is basically divided into ——– (a) Home trade and Commerce (b) Home trade and Foreign trade (c) Import trade and Export trade
- The buying and selling of goods and services within a country is (a) Foreign trade (b) Home trade (c) Export trade
- The buying of goods in large quantity from producer and selling in small quantity to the retailer is known as (a) Wholesale trade (b) Import trade (c) Foreign trade
- Foreign is divided into ——- and ——- trade. (a) Home and Foreign trade (b) Wholesale and retail trade (c) Import and Export trade
- Supermarkets are examples of ——-. (a) Retail trade (b) Foreign trade (c) import trade
- Define trade
- State the divisions of trade2. State the two divisions of trade.
The topic is presented step by step
The class teacher revises the previous topics
He introduces the new topic
The class teacher allows the pupils to give their own examples and he corrects them when the needs arise
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.
- State three services provided by bank in order to facilitate trade.
- How does businesses safeguard against unforeseen events?
- Explain transportation as an aid to trade.
- Explain advertising as an aid to trade.
- The passing of information from one person to another is known as —–
(a) banking (b) communication (c) transportation
- The creating of awareness of the existence of old and new goods to the public is called –—— (a) advertising (b) insurance (c) transportation
- Where raw materials and finished goods are kept is known as ——–
(a) warehouse (b) banking (c) communication
- The person that takes insurance policy is called —
(a) insured (b) insurer (c) insurance
- The three methods of transportation are (a) road, bus and car (b) land, air and water (c) land , water and road
- What do you understand by the term Aids to trade?
- State the aids to trade.
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