Commerce Scheme of Work for SS1 Second Term

SCHEME OF WORK

WEEK 1 EXPLANATION OF RETAIL TRADE

WEEK 2 CHARACTERISTICS, ADVANTAGES AND DISADVANTAGES OF EACH TYPE OF SMALL-SCALE RETAILING

WEEK 3 SS1 COMMERCE SECOND TERM: CHARACTERISTICS, ADVANTAGES AND DISADVANTAGES OF EACH TYPE OF LARGE-SCALE RETAILER

WEEK 4 MODERN TRENDS IN RETAILING

WEEK 5 ARGUMENTS FOR AND AGAINST THE ELIMINATION AND SURVIVAL OF WHOLESALER’S CHANNEL OF DISTRIBUTION

WEEK 6 WHOLESALE TRADE

WEEK 7 FOREIGN TRADE I

WEEK 8 FOREIGN TRADE II

WEEK 9 BALANCE OF PAYMENT AND COUNTERTRADE

WEEK 10 DOCUMENTS USED IN FOREIGN TRADE AND THEIR PROCESS

Below are the 2022 complete SS1 Second Term Commerce Lesson Note 

Second Term SS1 Commerce Lesson Note

SS 1 Second Term Week 1

Topic- Revision Of Last Term Work

Content- 

  1. Explanation of retail trade
  2. Classification of retail trade into small and large scale with diagrams

RETAIL TRADE

Retail is the sale of goods to end users, not for resale, but for use and consumption by the purchaser. Retail involves the sale of merchandise from a single point of purchase directly to a customer who intends to use that product. Retailing is concerned mainly with the buying of goods in small quantities from the wholesalers and making it available in units to the consumers. Retail trade is the business activity of selling goods and services to the final consumer. The retailer is the final link in the chain of distribution. To learn more, Click here.

Week 2

Topic – Characteristics, advantages and disadvantages of each type of small-scale retailing

Content-

  1. Characteristics, advantages and disadvantages of each type of small-scale retailing
  2. Merits and demerits of small-scale retailing

Characteristics, advantages and disadvantages of each type of small-scale retailing

1) Hawking/Itinerant

Hawking is a form of trade in which the merchant or seller move his goods from one place to another.

CHARACTERISTICS OF HAWKING RETAIL

i) It is a small-scale retail business. To learn more, Click here.

 Week 3

Topic- Characteristics, Advantages and Disadvantages of each type of Large Scale Retailer

CONTENT – 

  1. Characteristics, Advantages and Disadvantages of each type of Large Scale Retailer

LARGE SCALE RETAILING

Large-scale retail trade has a large scale of operation; the retailers achieve their growth by increasing the physical size of their units to cater for more customers. Examples of large-scale retail trade are:

CHAIN OR MULTIPLE STORES

This is a chain of similar shops with identical store designs, layouts and stock displays.

CHARACTERISTICS OF CHAIN/MULTIPLE STORES

i. Under the same management and ownership, these shops are operated at different places near the customers.

ii. All shops are decorated in the same manner to facilitate easy recognition by customers. To learn more, Click here.

Week 4

Topic– Modern Trends in Retailing

Content

  1. Modern Trends in Retailing
  2. Branding, Self-Service, After sales services, Vending machines, Pre-packaging and Credit Card
  3. Characteristics, Advantages and Disadvantages of Branding, After sale services, vending machines etc

Modern Trends in Retailing

New trends have been introduced in retailing business because of the dynamic nature of commercial activities. In order to enhance and facilitate business activities, new ideas and techniques have been introduced. These include:

i) Branding                                                           iv) Vending machines

ii) Self-service                                                      v) Pre-packaging. To learn more, Click here.

WEEK 5

TOPIC: Wholesale Trade 

CONTENT– Wholesale Trade

Types of Wholesalers

Functions of the Wholesaler to the Manufacturer and Retailer

Wholesale is the means of buying goods in bulk from the producer and selling them in small quantities to the retailer. Those who engage in these business activities are known as wholesalers.

A wholesaler is a person who buys goods in large quantities or in bulk from the manufacturers/ producer and sells in small quantities to the retailers

Wholesale trade is one component of business sales and inventories. Only those firms which sell to governments, institutions and other businesses are considered part of wholesale trade. To learn more, Click here.

WEEK 5

TOPIC: Wholesale Trade 

CONTENT– Wholesale Trade

Types of Wholesalers

Functions of the Wholesaler to the Manufacturer and Retailer

Wholesale is the means of buying goods in bulk from the producer and selling in small quantities to the retailer. Those who engage in these business activities are known as wholesalers.

A wholesaler is a person who buys goods in large quantity or in bulk from the manufactures/ producer and sell in small quantity to the retailers

Wholesale trade is one component of business sales and inventories. Only those firms which sell to governments, institutions and other businesses are considered part of wholesale trade.

Week 6

TOPIC: Arguments for and against elimination and survival of wholesalers’ channel of distribution

Contents:

  1. Arguments for and against the elimination and survival of wholesalers’ channels of distribution
  2. Factors for the choice of wholesalers’ channel of distribution

ARGUMENTS IN FAVOUR OF ELIMINATION OF WHOLESALERS

1. Wholesalers are middlemen between manufacturers and retailers. They increase the cost of marketing and the price of the products goes up. The consumers have to pay a higher price. By eliminating wholesalers, prices of the products will decrease and the consumer shall benefit. The manufacturers will be earning more profit on account of lesser prices of the products.

2. Wholesalers are unnecessary links between manufacturers and retailers. Their presence in the distribution channel obstructs the smooth and quick delivery of goods from the manufacturers to the ultimate consumers. If they are eliminated, unrestricted supply of goods takes place from the manufacturers to the retailers and the consumers. To learn more, Click here.

Week 7: Foreign Trade 

Contents:

  1. Meaning Of Foreign Trade
  2. Types Of Foreign Trade
  3. Advantages and Disadvantages of Foreign Trade
  4. Barrier To Foreign Trade

MEANING OF FOREIGN TRADE

Foreign trade is also known as international trade, it is defined as the exchange of goods and services between two or more countries.

Foreign trade is exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries.

All countries need goods and services to satisfy wants of their people. Production of goods and services requires resources. Every country has only limited resources. No country can produce all the goods and services that it requires. It has to buy from other countries what it cannot produce or can produce less than its requirements. Similarly, it sells to other countries the goods which it has in surplus quantities. India too, buys from and sells to other countries various types of goods and services. To learn more, Click here

Week 8 – Foreign Trade II

Contents:

  1. Visible and Invisible Trade
  2. Terms of Trade Comparison
  3. Concepts in Foreign Trade
  4. Invisible Exports and visible and Invisible Import as expressed in Price

VISIBLE TRADE

Visible trade involves trading of goods which can be touched and weighed. Examples include trade in goods such as Oil, machinery, food, clothes etc.

Visible Trade consists of

  • Visible exports: Selling of tangible goods which can be touched and weighed to other countries.
  • Visible imports: Buying of tangible goods which can be touched and weighed from other countries. To learn more, Click here

Week 9: Balance of Payment and Counter Trade

Contents:

  1. Balance of payment and counter trade
  2. Export procedures involved in foreign trade

Meaning of Balance of payment

Balance of trade can be defined as the total value of goods sold and bought by a country during a given period, usually a year. When visible export equals visible imports in monetary terms,we have balance of trade. A positive balance of trade means a country is exporting more than it is importing while a negative or unfavourable balance of trade occurs when a country imports is more than its export.

Balance of payments can be defined as a statement or record showing the relationship between a country’s total payment to other countries and its total receipts from them in a year. To learn more, Click here

Week 10

TOPIC – Documents used in foreign trade and their process

CONTENT –

  1. Consular Invoice                                  11. Dock warrant
  2. Bill of lading                                          12. Dock landing account
  3. Certificate of origin                              13. Bill of sight
  4. Shipping note                                        14. Bill of entry
  5. Airway bills                                            15. Calling forward note
  6. Indent                                                     16. Licence
  7. Ship Manifest                                        17. Export invoice
  8. Mate Receipt                                         18. Ship report
  9. Freight note                                           19. Insurance certificate
  10. Customers specification                     20. Bill of exchange

CONSULAR INVOICE

A consular Invoice is an important document used in foreign trade. It is issued by the Trade consulate of the importing country stationed in the exporters country. A Consular is a government officer having an office in other countries. This document is also obtained by the exporter and is sent to the importer along with other shipping documents. This invoice is also useful for importers at the time of payment of import duty. For obtaining documents from the consular the exporter has to pay the prescribed fees. This document contains information about goods and the value of goods. To learn more, Click here