COMMERCE

This module unit is intended to equip the trainee with knowledge and attitudes that will enable him/her to apply the principles and concepts of commerce in a business set.

GENERAL OBJECTIVES

• By the end of this module unit, the trainee should be able to:
• Understand the importance of commerce in an economy
• Appreciate the contribution of production and trade in an economy
• Appreciate the importance of documentation in undertaking commercial activities
• Appreciate the role if aids to trade in commercial activities
• Appreciate the importance of stock exchange in an economy
• Understand the role of government involvement in commerce

SUMMARY OF TOPICS AND TIME ALLOCATION

· Importance of commerce

· Factors of production

· Types of production

· Meaning of home trade

· Scope of home trade

· Meaning of international trade

· Terms used in home trade

· Documents used in home trade

· Terms of payments used in home trade

· Documents used in international trade

· Classification of business organizations

· Formation of business organizations

· Characteristics of business organizations

· Characteristics of money

· Functions of money

· Meaning of banking

· Role of transport in commerce

· Modes of transport

· Factors to consider in choosing an appropriate mode of transport

· Meaning of delivery services

· Importance of delivery services

· Methods of delivery services

· Importance of insurance

· Types of insurance

· Principles of insurance

· Importance of warehousing

· Essential features of a warehouse

· Factors to consider when selecting a warehouse

· Common terms used in stock exchange

· Challenges posed by the emerging issues and trends in commerce