JSS1 First Term Business Studies Lesson Note – Introduction to Commerce

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WEEK 6                                                                                                   

TOPIC: INTRODUCTION TO COMMERCE

CONTENT:

1. Meaning and importance of commerce
2. Activities which aid commerce.

Commerce is the study of trade and aids to trade. It is concerned with the exchange of goods and services and the agencies that facilitate the exchanges.                                                   

These are the two areas of commerce:  Trade and Aids to Trade.  Trade refers to the act of buying and selling of goods and services.  Aids to trade refer to that other activities that help facilitate trade.

IMPORTANCE OF COMMERCE

1. Commerce serves as a link between manufacturers, wholesalers and retailers
2. Provides employment
3. Creates awareness of goods and services through advertising
4. Enhances a good banking system
5. Revenue for the government
6. Creates the need for road improvement and infrastructure which lead to development of economy
7. Minimizes risk in business through agencies of insurance
8. Encouraged friendship and international cooperation between nation

ACTIVITIES THAT AID TRADE/AIDS TO TRADE

There are various services which facilitate trade.  These services are known as Aids to trade.  These are:

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