SS1 Commerce Past Questions and Answers

1st term

  • Meaning and Scope of commerce
  • Functions of commerce
  • Characteristics of commerce
  • E-commerce: meaning, and functions
  • Differences between commerce and e-commerce
  • Historical background of commerce in Nigeria.
  • Factors affecting the growth of commerce.
  • The barter system.
  • Meaning of occupation
  • Classifications of occupation.
  • Factors that determine types of occupation and employment.
  • Meaning and types of industry
  • Factors determining the volume of production.
  • Factors of production
  • Limitations to division of labour.
  • Specialization and exchange.
  • Meaning of trade
  • Types of trade
  • Relationship among the different types of trade.
  • Retail trade.
  • Factors to be considered before setting up retail shop.
  • Small scale retailing
  • Store/market trader
  • Unit/tied shop
  • Reasons for survival or small scale retailers.
  • Problems of small scale retail business.
  • Super market
  • Departmental store
  • Multiple/chain store
  • Mail order business firms
  • Hyper market
  • Variety store/one top shop
  • Retail/whole sale co-operative society
  • Branding
  • Self services
  • After sale services-
  • Factors to be considered before choosing a particular channel of distribution board.
  • Meaning, elimination and survival of the middlemen.
  • Criticism/reasons that may warrant the elimination of middlemen.
  • Merchant wholesaler: functions and types.
  • Agent middlemen

    • 2nd term

  • Vending machine
  • Reasons why retail trade may fail.
  • Meaning and functions of Manufacturer and Retailer
  • Channels of distribution
  • Types of wholesalers.
  • Warehousing
  • Bonded warehousing
  • State/queen’s warehousing
  • Public warehousing
  • Manufacturer’s warehousing.
  • Meaning and types of foreign trade
  • Advantages and disadvantages of foreign trade.
  • Differentiate between export, import and entrepot.
  • Balance of trade and balance of payment.
  • Tariffs/restrictions in foreign trade.
  • Documents used in foreign trade
  • Nigerian export promotion council
  • Nigerian airport authority and Nigerian ports authority
  • Nigerian export authority
  • Commodity exchange
  • Requirements for trading
  • Types of commodity exchange
  • Benefits of commodity exchange.
  • Constraints to commodity trading
  • Differentiate between commodity and stock
  • Sole proprietorship
  • Partnership

    • 3rd term

  • Types of career opportunities in commerce
  • The co-operative movement.
  • Types of co-operative societies
  • Public enterprises
  • Reasons for government ownership of public enterprises.
  • Advantages and disadvantages of public enterprises.
  • Types of public enterprises
  • Meaning of limited liability company
  • Types of limited liability company
  • Legal requirement for the formation of a limited liability company
  • Sources of capital
  • Other sources of capital
  • Advantages and disadvantages of limited companies.
  • Liquidation/dissolution of a limited liability company.
  • Definition of trade associations
  • Aims and functions of trade associations
  • Chamber of commerce
  • Types of business collaborations
  • Meaning and history/ evolution of money.
  • Qualities of money
  • Types and forms of money.
  • Meaning, importance and forms of transportation.
  • Land (road & rail) advantages and disadvantages.
  • Water (advantages and disadvantages).
  • Air transportation
  • Pipeline; advantages and disadvantages.
  • Definition of communication
  • Types of communication
  • Advantages and disadvantages of communication

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