SCHEME OF EXAMINATION
There will be two papers - paper I and paper 2, both of which will be a composite paper to be taken in one sitting.
PAPER 1: Will consist of 50 compulsory multiple choice questions to be Answered in 50 minutes for 50 marks.
PAPER 2: Will consist of eight essay type question out of which candidates will be required to answer any five within 2 hours for 100 marks
DETAILED SYLLABUS S/NO CONTENTS NOTES 1. INTRODUCTION i. Definition of Commerce and E - Commerce ii. History/Background of Commerce iii. Scope of Commerce and E Commerce iv. Functions of Commerce and E Commerce 2. OCCUPATION i. Meaning of Occupation ii. Types;- Industrial, Commercial, Service Occupation iii. Factors that determine types of occupation / employment Career Opportunities 3. PRODUCTION i. Meaning ii. Factors – land, labour, capital and entrepreneurship iii. Types:- Primary, Secondary and Tertiary production iv. Division of labour/specialization - meaning - types - advantages and disadvantages, - limitation v. Inter-relationship between production and exchange 4. BUSINESS UNITS i. Meaning and objectives of business ii. Forms of business units — Sole proprietorship, — Partnership, — Co-operative Societies, — Credit Union and Thrift Societies, — Public enterprises, — Companies - iii. Types, Formation, characteristics, comparison, advantages and disadvantages iv. Sources of capital of each forms of business v. Meaning and purpose of - Amalgamations, - Mergers and acquisitions - Trust, - Holding companies and Subsidiaries - Consortium and Cartel vi. Dissolution/Liquidation of Companies/Partnership. 5. TRADE ASSOCIATIONS Aims and functions of i. Trade Association ii. Chamber of Commerce, Employers Association iii. Consumer Association/Consumerism 6. BUSINESS CAPITAL i. Meaning and types - AND PROFITS Authorized/Registered/Normal capital, called- up, paid-up capital, capital owned, liquid/circulating capital ii. Credit - Meaning, Sources, Instrument and Functions iii. Calculation of working capital, the Importance of working capital iv. Profits - Meaning, types and calculation of profit v. Turnover - Meaning, calculations and factors affecting turnover. 7. TRADE Purpose and branches of trade – (a) HOME TRADE Home Trade and Foreign Trade – Meaning & Differences, i. Retail trade: Functions of retailer - Factors to consider in starting a retail business - Reasons for success/failure of retail business. ii. Small scale and large scale retailing – Types of Retail Outlets, - Unit shops, Stalls, Hawkers, Kiosks, Mobile shops, Supermarket, Chain Stores, Department Stores, Shopping malls, Hypermarkets and Mail Order business The main characteristics of each. - Advantages and disadvantages.
- Modern trends in retailing – branding, self service, Vouchers. Vending machines, credit cards.
iii. Wholesale trade - Functions of Wholesalers Types of Wholesalers. Factors. Merchant and agent Wholesalers
iv. Factor making for elimination and survival of middlemen
v. Channel of Distribution: Meaning, Types.
Factors for choice of Channel
(b) FOREIGN TRADE
i. Meaning -
ii. Types: Import, export and entreport
iii. Basic concept in International trade - terms of trade, balance of trade, balance of payment - favourable, unfavourable, visible and invisible items, bilateral and multilateral agreements and counter trade
iv. Advantages and Disadvantages
v. Barriers to Foreign trade –
vi. Tariffs – Meaning
Reason for tariffs,
vii. Functions of port and Airports Authorities, Customs and Excise Authority and Shipping, Clearing and forwarding Agents. Exports promotion Council.
8 PURCHASE AND SALE i. Procedure and documents used in business - OF GOODS IN HOME Order, Indent, Consular Invoice, Ordinary AND FOREIGN TRADE Invoice, Credit/Debit notes, Proforma Invoice, Letter of hypothecation, documentary credit, certificate of origin, certificate of inspection, insurance certificate. ii. Price Quotation - Trade discount, Cash discount, Quantity discount, COD, CWO, CIF, FOB, E & OE, Ex-works, LOCO, FAS, FOR and Franco iii. Terms of Payment: Cash/Spot Payment, Purchase and deferred payment. iv. Means of payment - Legal tender – (bank notes and coins), cheques, standing order, bank draft, stamps, postal-orders, money orders, bills of exchange and promissory Note, mail transfer, traveller’s cheques, telegraphic transfer. Epayment 9. FINANCE AND i. Meaning FINANCIAL ii. Evolution/History INSTITUTIONS A. MONEY iii. Forms iv. Qualities and functions. i. Types of Banks - Central Bank, Commercial Banks and other specialized banks e.g. Development Bank, Mortgage Bank, B. BANKS Building Society, Micro finance institutions, - their features and Functions. Bureau-de-change (Meaning and Functions) ii. E. Banking – Meaning, forms - ATM, Money transfer - E Payment – online transfer iii. Types of Accounts: Current, Savings and Fixed Deposit Account - Their main features i. Meaning and basic principles – utmost good faith, insurable interest, indemnity and subrogation, Contribution and proximate cause ii. Types of Insurance a. life Insurance C. INSURANCE - Whole life Assurance - Endowment b. Non life Insurance - Motor vehicle - Fire - Fidelity - Burglary/Robbery/Theft - Accidents - Consequential Loss - Marine c. Types of Risk i. Insurable Risk e.g. fundamental risks - Pure risk - Particular risk ii. Uninsurable risk - speculative risk d. Importance of Insurance to business and individual. e. Procedure for taking an Insurance Policy. f. Underwriting - meaning g. Re-insurance - Meaning and purpose i. Meaning ii. Functions iii. Methods of raising funds by companies - offer for sale, offer for subscription, rights issue, private placement, issue by tender Second tier Security market D. CAPITAL MARKET i. meaning and functions ii. Advantages to Companies/Public iii. Requirement for listing i. Meaning and functions, ii. Importance
E. STOCK EXCHANGE (first tier) F. COMMODITY EXCHANGE10.TRANSPORT, TOURISM, COMMUNICATION and WAREHOUSING
iii. Transactions on the stock exchange
iv. Speculators - Meaning and Types
v. Types of Security - Shares, Stock, Bond gilt edge, debentures/Convertible loans
i. Meaning
ii. Types of tradable commodities
iii. Requirements for trading - Grading, Standardizing, Warehousing, Clearing system
iv. Method of Trading - open outcry and electronic mechanisms
v. Benefit of Commodity exchange
(i) Meaning
(ii) Importance
(iii) Choice of transport
(iv) Forms
(a) Land
(b) Water
(c) Air
(d) Pipeline
(v) Advantages and disadvantage of each form
(vi) Documents - Waybills, Consignment note, tickets and manifest
A. TRANSPORT,
B. TOURISM
C COMMUNICATION
(i) Meaning
(ii) Advantages and disadvantages
(i) Meaning
(ii) Types – Oral. Written, Visual, Non-verbal, Non-visual, Traditional,
(iii) Advantages and Disadvantages
(iv) Importance and services of Post Office
(v) Courier Agencies and other communication agencies – Telephone system, satellite services, internet- E-mail
(vi) Computer Appreciation
- meaning,
- component parts,
- advantages and disadvantages.
(i) Meaning
(ii) Importance
(iii) Functions
(iv) Types
(v) Advantages
D. WAREHOUSING 11. ADVERTISING (i) Meaning (ii)Roles, advantages and disadvantages (iii)Types - informative, persuasive, Competitive, mass/specific (iv)Methods - direct and indirect (v)Media- meaning, choice and types 12 INTRODUCTION TO MARKETING A. MARKETING (i) Meaning (ii) Importance (iii) Functions (iv) Differences between market and marketing, market and marketing research. The Marketing mix 4ps B. Marketing Concept (i) Meaning (ii) Components - Products, - price, - place and - promotion
(i) Meaning (ii) Importance
Types – Pre and after sales services
(i) Meaning (ii) Methods
Trade fairs, exhibitions, gifts, demonstration
Personal Selling
Meaning
Importance C. Customer Services D. Sales Promotion 13. LEGAL ASPECT OF (i) Contract BUSINESS - Meaning - Areas of law that relate to - Elements of a valid contract Business - Discharge of a contract (ii) Agency - Meaning - Creation - Duties and responsibilities of principals and agents - Termination (iii) Sales of goods Act (iv) Hire Purchase Act (v) Rights and Obligations of employer and Employee (vi) Government regulation of Business - patents,
copyright. Trade mark
(vii) Registration of Business - Meaning and uses
(i) Meaning
(ii) Need for protection
(iii) Means of protection
(iv) Consumerism Meaning
Means, Instrument of protection
Government Legislation - food and drugs Act standard organization Act - Price Control Act - Factory, Shops and Offices Act – Product quality Consumer Protection 14. Government policies relating to business A. Commercialsation (i) Meaning and Reasons B. Privatisation (ii) Advantages and disadvantages C. Deregulation (iii) Comparison/differences 15. INTRODUCTION TO i. Meaning BUSINESS ii. Objectives of business MANAGEMENT iii. Meaning of Business Management iv. Functions v. Business Resources - Man, Money, Materials Opportunities/Goodwill vi. Structure of Business organizational setup Organisational chart, Departments, Functions of each, Authority, Delegation of Authority - Responsibility Span of Control Meanings vii. Business and its environment Economical - Political Competition Technological etc viii. Social responsibility of Business to the Society ix. Importance of Inter and Intra departmental communications 16. ECONOMIC i. History GROUPINGS ii. . Membership A. ECOWAS iii. . Objectives B NIGER BASIN . iv. Achievements COMMISSION (NBC) C. LAKE CHAD BASIN v. Problems/Obstacles COMMISSION (LCBC) D. MANO-RIVER UNION E. EUROPEAN UNION F. WEST AFRICAN CLEARING HOUSE RECOMMENDED TEXTBOOKS
i. Senior Secondary Commerce, Book One, two and three by M. O. Odedokun, P. C. Udokogu and C. O. N. Oguji.
ii. Basic Marketing- McCarthy Jerome, E. , William Perreault Jr.
iii. Marketing – G. B. Giles ( The M & E hand book services)
iv. Consumer Behaviour – Prof. Achumba ( University of Lagos)