Commerce Scheme of Work for SS3 Second Term

SCHEME OF WORK

WEEK 1 INTRODUCTION TO MARKETING: SECOND TERM SS3 COMMERCE

WEEK 2 MARKET SEGMENTATION AND TYPES: SECOND-TERM SS3 COMMERCE

WEEK 3 MEANING OF BUSINESS DOCUMENT: SECOND TERM SS3 COMMERCE

WEEK 4 SS3 COMMERCE SECOND TERM: PRIVATIZATION AND COMMERCIALIZATION

WEEK 5 ECONOMIC GROUPING IN WEST AFRICA: SECOND TERM SS3 COMMERCE

WEEK 6 ECONOMIC GROUPINGS IN WEST AFRICA (CONT’D)

Below are the 2022 complete SS3 Second Term Commerce Lesson Note 

Second Term SS3 Commerce Lesson Note

Week 1

TOPIC: Introduction to Marketing

CONTENT: 

• Meaning, Function and Importance of Marketing
• Types of Marketing
• Marketing Concept
• Marketing Mix (4Ps)

Meaning

Marketing can be defined as the process of identifying the needs of consumers and ensuring that production resources are channelled towards the production of goods that meet/satisfy such needs. It can also be defined as a management process through which goods and services move from the stage of conception to the point it gets to the final customer. It includes the coordination of four elements called the four P’s of marketing which you will learn about shortly. To learn more, Click here.

Week 2

TOPIC: Market Segmentation and Types

CONTENT

• Market Research
• Advertising – Meaning, Types, Methods
• Advertising, Media, Merits and Demerits of each medium
• Sales Promotion, Forms etc

Market Segmentation is the division of a particular market niche into clearly identifiable categories with obviously similar needs, wants and characteristics. In other words, it is the process of dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics.

Market Research

This can be defined as the process of assessing the viability of a new product or service through research conducted directly with the targeted consumers. This will allow business strategists to know more about the target market by recording opinions and other input from consumers regarding interest in the product. In other words, market research more or less entails carrying out surveys in order to assess the needs of consumers so that production resources can be channelled towards the production of the needed product. To learn more, Click here.

Week 3

Topic: Meaning of Business Document

Content – Meaning of Payment

                    Factors Determining The Method of Payment

                    The Various Means of Payment

                    Means of Payment Through The Bank

                    Means of Payment Made by Post Office

                    Means of Payment Made by Businessmen.

Payment can be defined as the means of settling any business transaction. It is also referred to as the settlement of outstanding debts between a creditor and a buyer.

Payment could also mean the transfer of one form of good, services or financial asset in exchange for another form of good, services, or financial asset in proportion that have been previously agreed by the parties involved.

Factors Determining The Method of Payment

1. The amount of money involve
2. The urgency of the payment. To learn more, Click here.

Week 4

TOPIC: PRIVATIZATION AND COMMERCIALIZATION

CONTENT

• Meaning Privatization and Commercialization
• Merits and Demerits of Privatization and Commercialization
• Deregulation – Meaning, Advantages and Disadvantages

Privatization and Commercialization

Privatization has to do with the selling off of corporations (formerly issued by the government) to private individuals. In this way, former government-owned corporations become private business concerns owned and managed by private businessmen and women. Nigeria has had a long history with privatization, one of the most recent of which being the privatization of NEPA. In the same vein, commercialization is defined as the process of making state-owned enterprises to become [purely] profit-oriented enter[rises. It should be recalled that state-owned enterprises ideally are not meant to make profit as the products and services they offer are typically subsidized. However, when they become commercialized, they more or less get given the mandate to operate as private firms and make a profit. To learn more, Click here.

Week 5

TOPIC: Economic grouping in West Africa

CONTENT

• Meaning of Economic Groupings

• ECOWAS

  – History, Member Countries, Objective, Achievement, Problems etc

• Niger Basic Commission (NBC)

  – History, Member countries, objectives, Achievements, problems

• Lake Chad Basin Commission (LBBC)

  – History, member countries, objectives, Achievements, Problems

Meaning of Economic Groupings

Economic Groupings are the associations of countries situated in a particular region whereby they come to a common understanding regarding rules and regulations to be followed while exporting and importing goods among them. Such groups have liberal rules for member countries while a separate set of rules is laid for non-members. To learn more, Click here.

Week 6

TOPIC: Economic groupings in West Africa (Cont’d)

• West Africa Clearing House (WACH)

          – History, Member countries, Objectives, Achievements

• Mano River Basin Commission (MRBC)

          – History, member countries, objectives, Achievements

WEST AFRICA CLEARING HOUSE

The WACH was established in 1975 with headquarters in Freetown, Sierra Leone. It comprises of ten member Central Banks of fifteen member states whose main objective is to facilitate multilateral clearing mechanism among Central Banks of members.

Aims and Objectives of WACH

1. To promote the use of members’ national currencies for ultra sub-regional transactions.
2. To bring about savings in the use of foreign reserves.
3. To advice members nation as regards the appropriate monetary policy to adopt. To learn more, Click here.