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64

COMMERCE

GENERAL OBJECTIVES

The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Commerce is to

prepare the candidates for the Board’s examination. It is designed to test their understanding of

the course objectives, which are to:

(1) acquire the basic knowledge of Commerce;

(2) examine the relationship between Commerce and other related fields;

(3) apply the principles of Commerce in the Nigerian economy and

(4) appreciate dynamic and positive changes in commercial activities.

DETAILED SYLLABUS

TOPICS/CONTENTS/NOTES OBJECTIVES

1. Commerce

(i) Meaning and scope

(ii) Characteristics

(iii) Functions

2. Occupation

(i) Meaning and importance

(ii) Types (industrial, commercial and

services)

(iii) Factors that determine choice of

occupation

3. Production

(i) Factors, characteristics and rewards

(land, labour, capital and entrepreneur)

(ii) Division of Labour and specialization

(iii) Types (primary, secondary and

tertiary)

Candidates should be able to:

(i) differentiate between Commerce and other

related subjects;

(ii) describe the characteristics of Commerce;

(iii) Identify the functions of Commerce.

Candidates should be able to:

(i) State the importance of occupation;

(ii) Compare the different types of occupation;

(iii) Identify the factors determining the choice

of occupation.

Candidates should be able to:

(i) identify the Factors of Production and their

rewards;

(ii) distinguish between Division of Labour

and Specialization;

(iii) classify the types of production.

65

TOPICS/CONTENTS/NOTES OBJECTIVES

4. Trade

a. Home Trade

(i) Retail trade:

- Types of retailers

- Functions of retailers

- Factors to be considered in setting

up retail trade

- Trends in retailing (branding, self -

service, vending machines, the use

of luncheon, fuel vouchers, etc)

- Advantages and disadvantages of

retailers

(ii) Wholesale trade:

- Types of wholesalers (merchant,

agent, general, etc)

- Functions of wholesalers

- Advantages and disadvantages of

wholesalers

b. Foreign trade

(i) Basic issues in foreign trade (balance of

trade, balance of payments and counter trade)

(ii) Procedures and documents used in

export, import and entrepôt trade

(iii) Barriers to international trade

(iv) Role of Customs and Excise Authority,

Ports Authority, etc in foreign trade

5. Purchase and Sale of Goods

(i) Procedure and documentation

(enquiry, quotation, order, invoice,

proforma invoice, statement of

accounts, indent, consular invoice, bill

of lading, certificate of origin,

consignment note, etc)

(ii) Terms of trade (trade discount,

quantity discount, cash discount,

warranties, C.O.D., C.I.F., F.O.B., and

E.O.E. etc)

(iii) Terms of payments

a. Cash - Legal tender

b. Credit

- Types and functions

- Merits and demerits

Candidates should be able to:

(i) compare the various types of retailers;

(ii) identify the functions of retailers;

(iii) highlight the factors in setting up retail

trade;

(iv) classify modern retailing practices;

(v) identify the advantages and disadvantages

of retail business;

(vi) classify the types of wholesalers;

(vii) discuss the functions of wholesalers;

(viii) outline the merits and demerits of the

middleman;

(ix) analyse the basic issues in foreign trade;

(x) explain the procedures and documents used

in foreign trade;

(xi) identify the barriers to international trade;

(xii) appraise the role of government agencies in

foreign trade.

Candidates should be able to:

(i) examine the procedures and documents

used in the purchase and sale of goods;

(ii) determine the terms of trade;

(iii) distinguish between cash and credit forms

of payment;

(iv) identify the types of credit;

(v) analyse the merits and demerits of credit

transactions.

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TOPICS/CONTENTS/NOTES OBJECTIVES

6. Aids-to-trade

a. Advertising:

(i) Types and media

(ii) Advantages and disadvantages

b. Banking:

(i) Types of bank

(ii) Services

(iii) Challenges

c. Communication:

(i) Process and procedure

(ii) Types

(iii) Trends

(iv) Merits and demerits

(v) Barriers

d. Insurance:

(i) Types

(ii) Principles

(iii) Terms

(iv) Importance

e. Tourism:

(i) Importance

(ii) Agencies that promote tourism in

Nigeria

(iii) Challenges

f. Transportation:

(i) Mode

(ii) Importance

(iii) Advantages and disadvantages

g. Warehousing:

(i) Importance

(ii) Types and functions

(iii) Factors to be considered in siting

a warehouse

Candidates should be able to:

(i) identify the different types of

advertising and its media;

(ii) analyse the advantages and disadvantages

of advertising;

(iii) categorize the different types of bank;

(iv) assess the services rendered by banks;

(v) identify the challenges facing banks;

(vi) assess the different stages in the

communication process;

(vii) analyse the types of communication;

(viii) appraise the contributions of courier

services, GSM, etc., to businesses;

(ix) state the merits and demerits of

communication;

(x) outline the barriers to communication

(xi) describe the types of insurance;

(xii) apply the principles of insurance to life

situations;

(xiii) explain the terms in insurance;

(xiv) state the importance of insurance;

(xv) examine the importance of tourism;

(xvi) identify the agencies that promote tourism

in Nigeria;

(xvii) analyse the challenges facing tourism in

Nigeria;

(xviii) appraise the relevance of the various

modes of transportation;

(xix) list the importance of transportation;

(xx) discuss the advantages and disadvantages

of transportation;

(xxi) highlight the importance of warehousing;

(xxii) appraise the contributions of warehouses to

businesses.

(xxiii) evaluate the factors that determine the

siting of warehouses.

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TOPICS/CONTENTS/NOTES OBJECTIVES

7. Business Units

(i) Forms and features (Sole

Proprietorship, Partnership, Limited

Liability Companies, Public

Corporations, Cooperative Societies,

etc.)

(ii) Registration of businesses

(iii) Business Mergers

(iv) Determination of choice of business

units

(v) Dissolution and liquidation

(vi) Merits and demerits

8. Financing Business

(i) Sources of finance (personal savings,

sale of shares and bonds, loans,

debentures, mortgage, bank overdraft,

ploughing back of profit, credit

purchase, leasing, etc.)

(ii) Types of capital (share capital, capital

owned, authorized (capital, issued

capital, called-up capital, paid-up

capital, liquid capital, working capital

and owners’ equity)

(iii) Calculation of forms of capital, profits

(gross and net) and turnover

(iv) Problems of sourcing finance

(v) The role of Bureaux de change in an

economy

9. Trade Associations

(i) Objectives and functions of trade and

manufacturer’s associations (Cocoa

Farmers’ Association, Garri Sellers’

Association, Poultry Farmers’

Association, etc.)

(ii) Objectives and functions of Chambers

of Commerce.

10. Money

(i) Evolution

(ii) Forms and qualities

(iii) Functions

Candidates should be able to:

(i) identify the forms and features of business

units;

(ii) analyse the procedures for registering

businesses;

(iii) appraise the different forms of business

mergers and the reasons for merging;

(iv) examine the factors which determine the

choice of business units;

(v) differentiate between dissolution and

liquidation of business;

(vi) state the merits and demerits of business

units.

Candidates should be able to:

(i) identify the various ways of financing a

business;

(ii) discuss the different types of capital

(iii) compute the different forms of capital,

profits and turnover;

(iv) appraise the problems associated with

sourcing finances for business;

(v) assess the role of bureaux de change in an

economy.

Candidates should be able to:

(i) discuss the objectives and functions of

trade and manufacturer’s associations;

(ii) list the objectives and functions of

Chambers of Commerce.

Candidates should be able to:

(i) discuss the origin of money;

(ii) analyse the forms and qualities of money;

(iii) appraise the functions of money.

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TOPICS/CONTENTS/NOTES OBJECTIVES

11. Stock Exchange

(i) Importance and functions

(ii) Types of securities (stocks, shares,

bonds, debentures, etc)

(iii) Procedure of transactions and

speculations

(iv) Second-Tier Securities Market, (listing

requirements, types of companies for

the market, advantages and operating

regulations of the market.)

12. Elements of Business Management

(i) Functions (planning, organizing,

staffing, coordinating, motivating,

communicating, controlling etc)

(ii) Principles (span of control, unity of

command, delegation of authority, etc)

(iii) Organizational structure (line, line and

staff, functional, matrix and

committee)

(iv) Functional areas of business

(production, marketing, finance and

personnel)

(v) Business resources (man, money,

materials, machines and

opportunities/goodwill)

13. Elements of Marketing

(i) Importance and Functions

(ii) The marketing concept (consumer

orientation, customer satisfaction,

integrated marketing, etc)

(iii) Marketing mix (product, price, place

and promotion)

(iv) Market Segmentation

(v) Public relations and Customer Service.

14. Legal Aspects of Business

(i) Meaning and validity of a simple

contract

(ii) Agency, Sale of Goods Act and Hire

Purchase Act

(iii) Contract of employment

(iv) Government regulations of business

(registration of business, patents,

trademarks, copyrights, etc)

Candidates should be able to:

(i) state the importance and functions of the

Stock Exchange;

(ii) identify the different securities traded on

the Stock Exchange;

(iii) analyse the procedure of transactions and

speculations on the Stock Exchange;

(iv) appraise the advantages and operating

regulations of the market.

Candidates should be able to:

(i) appraise the functions of management;

(ii) analyse the principles of management;

(iii) identify organizational structures;

(iv) assess the functional areas of business;

(v) examine the business resources.

Candidates should be able to:

(i) highlight the importance and functions of

marketing;

(ii) discuss the marketing concept;

(iii) assess the elements of marketing mix;

(iv) explain market segmentation;

(v) examine public relations and customer

service.

Candidates should be able to:

(i) analyse the elements and validity of a

simple contract;

(ii) examine Agency, Sale of Goods Act and

Hire Purchase Act;

(iii) assess the rights and obligations of

employers and employees;

(iv) distinguish between patents, trademarks

and copyrights;

(v) identify the functions of consumerism;

69

TOPICS/CONTENTS/NOTES OBJECTIVES

(v) Consumer protection (Government

legislation, Standards Organization

Trade Descriptions Act, Consumer

Protection Council, NAFDAC,

NDLEA, Customs and Excise, etc.)

(vi) Regulatory agencies.

15. Information and Communication

Technology (ICT)

a. Computer:

(i) Appreciation and application

(ii) Types and functions

(iii) Merits and demerits

(iv) Challenges

b. Terms (Internet, Intranet, browsing,

password, e-mail, google, yahoo, search,

Local Area Network, etc.)

c. Activities:

(i) e-commerce

(ii) e-banking

(iii) e-business

16. Business Environment and Social

Responsibility

(i) Legal, political, economic, social,

cultural, technological environments,

etc

(ii) Safe products, philanthropic and

societal consideration

(iii) Types and implication of pollution

(water, air, land, etc.)

(vi) assess the relevance of regulatory agencies

and acts in the provision of safe goods and

drugs.

Candidates should be able to:

(i) discuss computer appreciation and

application;

(ii) enumerate the types and functions of

computer;

(iii) analyse the merits and demerits of ICT;

(iv) appraise the challenges of using the

computer;

(v) identify the different terms used in ICT;

(vi) evaluate the trends in ICT.

Candidates should be able to:

(i) discuss the types of business environment;

(ii) assess the role of social environment in the

provision of safe products;

(iii) identify the different types of pollution and

their implications on businesses.

70

RECOMMENDED TEXTS

Anderson, D. J. (1978) Commerce for West Africa, London: Macmillan.

Ahukannah, L. I. et al (1992) Commerce for Secondary Schools

Onitsha: Africana – First Publishers.

Asaolu, A. and Igwe, P. M. (2005) New Syllabus Commerce for Secondary Schools

Books 1 – 3 (Second Edition) Ibadan: Evans.

Babatunde, A. H. (1999) Handbook on Commerce for Schools and Colleges,

(First Edition), Global Publications.

Eriki, P. O. (1998) Working with Computer, Benin: Bofic Publishers.

French, C. S. (2000) Computer Science, (Fifth Edition), Britain: Ashford.

Ibru, G. M. (2004) Nigeria: The Promise of Tourism, Lagos: G.S.L. Publishing Limited.

Igwe, P. M. e tal (2004) Countdown to WASSCE/SSCE/NECO/JME Commerce, Ibadan: Evans.

James, A. F, et al (1996) Management, (Sixth Edition), New Delhi: Prentice Hall).

Nwachukwu, C. C. (1999) Management Theory and Practice, Onitsha: Africana– First Publishers.

Odedokun, M. O. et al (1999) Commerce for Senior Secondary Schools, Books 1– 3, Lagos: Longman.

Odoom, F. F. (1998) Commerce for Senior Secondary Schools, Books 1– 3, Ibadan: Onibonoje.

Onifade, A. (2001) Management: Office Business Education, Abeokuta: KAPPCO.

Onifade, A. (2002) The Computer for Word Processing and Internet, Abeokuta: KAPPCO.

Onu, A. J. C. (2000) Marketing Today, Abuja: Precious Treasures Ltd.

Pallister, J. and Isaacs, A. (eds) (2002) A Dictionary of Business (Third Edition), Oxford:

Oxford University Press.

Ubaka, O. A., (2012), Commerce Simplified for SSS 1– 3, WAEC, NECO, JAMB & NABTEB

EXAMS, Garki, Abuja: Andyson Mi