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WEEK 10
SUBJECT: COMMERCE
CLASS: SS1
TOPIC: HOME TRADE
CONTENT:
- Factors to be considered in setting up a retail trade.
- Classification of retail trade i. Small Scale retailers ii. large scale retailers
- Reasons for survival of small scale retailers
SUB TOPIC 1: FACTORS TO BE CONSIDERED IN SETTING UP A RETAIL TRADE.
- Capital: This is a very important factor that must be put into consideration before setting up a retail trade. The amount of capital will determine the size of the business.
- Price policy: The retailer must put into consideration the selling price of the product. The best price policy must be determined.
- Source of supply: The retailer must determine the source of supply so as to maintain constant supply.
- Type of goods: He must consider what he wants to sell. He should prepare his mind on the type of goods to be sold.
- Experience: The retailer must have acquired some skills on the field he wants to operate e.g electronics business, provision etc.
SUB TOPIC 2: CLASSIFICATION OF RETAIL TRADE
Retail activities can be classified into small scale and large scale as represented in the diagram below
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