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Sub-Topic 2: Buying and selling of goods and services available now and in the future
In Nigeria, these transactions are regulated by the Nigeria stock exchange (N.S.E).stock exchange was established in the year, 1960 in Lagos and was first referred to as Lagos stock exchange. Buying and selling of stock exchange may be by physical exchange or electronic through the use of computer networking i.e. visual exchange which is commonly known as forex trading.
The Nigeria stock exchange is a good example of visual exchange; participants in any stock exchange include the buyers, seller, and their representatives. Potential buyers who legally own one or more share or stock of a joint stock company are referred to as shareholders; they are entitled to participate in:
- Vote during the election of the Board of Directors.
- Share in the distribution of the company’s income
- Purchase new shares of the company; and
- Purchase the company’s assets when it becomes financially unviable.
Stock brokers are licensed to buy and sell company’s shares and they also have adequate information on the current values and quantities of various company shares available at any given time.
Examples of Agro-allied (Agribusiness) enterprises whose shares are traded in Nigeria’s stock exchange include Livestock Feed Plc, Nigeria Breweries Plc, Nestle Nigeria Plc, Unilever Nigeria plc, Flour Mills of Nigeria Plc, Dunlop Nigeria Plc, Nigeria Bottling Co. Plc, Cadbury Nigeria Plc.
Terms used in the stock exchange
- Shareholder: a person who owns shares in a company. He is partly the owner of the company because part of his resources is in the business.
- Stock broker: a stockbroker is someone who buy and sell share for people who want to invest money.
- Stock: This is a share bought as an investment in the company
- Stock market: this is a place where they are trading in stock and shares
- Jobbers: these are dealers in stocks and shares
- Dividend: this is the sum apportioned periodically informs of profit and interest, to holders of stocks and shares.
- Assets: Assets are anything of value in the possession of the farmer. It relates to all the resources owned by the farmer that enables him to produce. It may be classified into:
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