Commerce – SS1, SS2 & SS3 Curriculum; Scheme of Work; Lesson Notes; Assessment Tests

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ASSURE Educational Services has put-together the scheme of work on Commerce  – SS1, SS2 and SS3 based on the National Curriculum and the syllabus of WAEC and NECO. All the topics highlighted in the National Curriculum and the syllabus of WAEC and NECO have been accommodated in our Scheme of Work.

End of term Assessment Tests in SS1, SS2 and SS3 alongside Overall Assessment Tests are available. Schools may adopt our scheme of work because of its simplicity and ease of monitoring of academic activities.

The Scheme of Work stated below is inexhaustible. Schools are encouraged to input weeks and periods of completion of topics in accordance with the academic calendar, number of students and available classes.

SS1 Commerce – 1st Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 1st Term INTRODUCTION TO COMMERCE 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
OCCUPATION i. Meaning of Occupation
ii. Types;- Industrial, Commercial, Service Occupation
iii. Factors that determine types of occupation/employment
Career Opportunities

SS1 Commerce 1st Term Lesson Notes
Lesson One: Commerce – Click Here!
Lesson Two: e-Commerce – Click Here!
Lesson Three: Occupations – Click Here!
Evaluation Tests on SS1 Commerce 1st Term Lesson Notes – Click Here!

SS1 Commerce – 2nd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 2nd Term 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
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.

SS1 Commerce 2nd Term Lesson Notes
Lesson One: Production – Click Here!
Lesson Two: Business Units – Click Here!

SS1 Commerce – 3rd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS1 3rd Term TRADE ASSOCIATIONS Aims and functions of
i. Trade Association
ii. Chamber of Commerce, Employers Association
iii. Consumer Association/Consumerism
BUSINESS CAPITAL AND PROFITS i. Meaning and types – 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.

SS2 Commerce – 1st Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS2 1st Term TRADE (a)    HOME TRADE Purpose and branches of trade –
Home Trade and Foreign Trade – Meaning and 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 Meaning –
Types: Import, export and entreport
ii 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 –
Reason for tariffs,
vii. Functions of port and Airports Authorities, Customs and Excise Authority and Shipping, Clearing and forwarding Agents. Exports promotion Council.
PURCHASE AND SALE OF GOODS IN HOME AND FOREIGN TRADE i. Procedure and documents used in business – Order, Indent, Consular Invoice, Ordinary 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. E-payment
ii. Evolution/History
iii. Forms
iv. Qualities and functions.
      B. BANKS i. Types of Banks – Central Bank, Commercial Banks and other specialized banks e.g. Development Bank, Mortgage Bank, Building Society, Micro finance institutions, – their features and Functions.
Bureau-de-change (Meaning and Functions)
ii. E. Banking –
forms – ATM, Money transfer –
E Payment – online transfer
iii. Types of Accounts: Current, Savings and Fixed Deposit Account – Their main features.
      C.  INSURANCE i. Meaning and basic principles –
utmost good faith, insurable interest, indemnity and subrogation, Contribution and proximate cause
ii. Types of Insurance
a. life 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 riskii. 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
      D. CAPITAL MARKET i. Meaning
ii. Functions
iii. Methods of raising funds by companies – offer for sale, offer for subscription, rights issue, private placement, issue by tender
(first tier)
Second tier Security market
i. meaning and functions
ii. Advantages to Companies/Public
iii. Requirement for listing
i. Meaning and functions,
ii. Importance
iii. Transactions on the stock exchange
iv. Speculators – Meaning and Types
v. Types of Security – Shares, Stock, Bond gilt edge, debentures/Convertible loans
      F. COMMODITY EXCHANGE 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

SS2 Commerce – 2nd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
(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
B. TOURISM (i) Meaning
(ii) Advantages and disadvantages
(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.
D. WAREHOUSING (i) Meaning
(ii) Importance
(iii) Functions
(iv) Types
(v) Advantages


  (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
(ii) Importance
(iii) Functions
(iv) Differences between market and marketing, market and marketing research.
B.  Marketing Concept The Marketing mix 4ps
(i) Meaning
(ii) Components
– Products,
– price,
– place and
– promotion
C.  Customer Services (i) Meaning
(ii) Importance
D. Sales Promotion Types – Pre and after sales services
(i) Meaning
(ii) Methods
Trade fairs, exhibitions, gifts, demonstration
Personal Selling

SS2 Commerce – 3rd Term Scheme of Work

Class Term Main Topic Sub-Topics Contents
SS2 3rd Term LEGAL ASPECT OF BUSINESS Areas of law that relate to Business (i) Contract
– Meaning –
– Elements of a valid contract
– 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
Consumer Protection – Meaning and uses
(i) Meaning
(ii) Need for protection
(iii) Means of protection
(iv) Consumerism
Means, Instrument of protection
Government Legislation – food and drugs Act standard organization Act – Price Control Act – Factory, Shops and Offices Act – Product quality
Government policies relating to business A. Commercialsation
B. Privatisation
C. Deregulation
(i) Meaning and Reasons
(ii) Advantages and disadvantages
(iii) Comparison/differences
ii. Objectives of business
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
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
i. History
ii. Membership
iii. Objectives
iv. Achievements
v. Problems/Obstacles


SS3 Commerce – 1st & 2nd Term Scheme of Work (Revision)

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