COMMERCE
GENERAL OBJECTIVES
The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Commerce is to
prepare the candidates for the Board’s examination. It is designed to test their understanding of the
course objectives, which are to:
(1) acquire the basic knowledge of Commerce;
(2) examine the relationship between Commerce and other related fields;
(3) apply the principles of Commerce in the Nigerian economy and (4) appreciate dynamic and
positive changes in commercial activities.
DETAILED SYLLABUS
TOPICS/CONTENTS/NOTES OBJECTIVES
1.
Commerce Candidates should be able to:
(i) Meaning and scope (i) differentiate between Commerce and other
(ii) Characteristics related subjects;
(iii) Functions (ii) describe the characteristics of Commerce;
(iii) Identify the functions of
Commerce.
2.
Occupation
Candidates should be able to:
(i) Meaning and importance
(ii) Types (industrial, commercial and
services) (i) State the importance of occupation;
(iii) Factors that determinechoice of (ii) Compare the different types of occupation;
occupation (iii) Identify the factors determining the choice
of occupation.
3.
Production
Candidates should be able to:
(i) Factors, characteristics and rewards
(land, labour, capital and entrepreneur) (i) identify the Factors of Production and their
(ii) Division of Labour and specialization rewards;
(iii) Types (primary, secondary and (ii) distinguish between Division of Labour and
tertiary) Specialization;
(iii) classify the types of production.
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TOPICS/CONTENTS/NOTES OBJECTIVES
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4.
Trade Candidates should be able to:
a.
Home Trade (i) compare the various types of retailers;
(i) Retail trade: (ii) identify the functions of retailers;
- Types of retailers (iii) highlight the factors in setting up retail
- Functions of retailers trade;
- Factors to be considered in setting (iv) classify modern retailing practices;
up retail trade (v) identify the advantages and disadvantages
- Trends in retailing (branding, self of retail business;
service, vending machines, the use
of luncheon, fuel vouchers,etc)
- Advantages and disadvantages of
retailers
(ii) Wholesale trade:
- Types of wholesalers (merchant, (vi) classify the types of wholesalers;
agent, general, etc) (vii) discuss the functions of wholesalers;
- Functions of wholesalers (viii) outline the merits and demerits of the
- Advantages and disadvantages of middleman;
b. wholesalers
Foreign trade
(ix) analyse the basic issues in foreign trade;
(i) Basic issues in foreign trade (balance of (x) explain the procedures and documents used
trade, balance of payments and counter in foreign trade;
trade) (xi) identify the barriers to international trade;
(ii) Procedures and documents used in
(xii) appraise the role of government agencies in
export, import and entrepôt trade
foreign trade.
(iii) Barriers to international trade
(iv) Role of Customs and Excise Authority,
Ports Authority, etc in foreign trade
5.
Purchase and Sale of Goods
(i) Procedure and documentation Candidates should be able to:
(enquiry, quotation, order, invoice,
proforma invoice, statement of (i) examine the procedures and documents
accounts, indent, consular invoice, bill used in the purchase and sale of goods;
of lading, certificate of origin, (ii) determine the terms of trade;
consignment note, etc) (iii) distinguish between cash and credit forms
of payment;
(ii) Terms of trade (trade discount, quantity (iv) identify the types of credit;
discount, cash discount, warranties, (v) analyse the merits and demerits of credit
C.O.D., C.I.F., F.O.B., and transactions.
E.O.E. etc)
(iii) Terms of payments
a. Cash - Legal tender
b. Credit
- Types and functions
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- Merits and demerits
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TOPICS/CONTENTS/NOTES OBJECTIVES
6. Aids-to-trade Candidates should be able to:
a. Advertising:
(i) Types and media (i) identify the different types of advertising
(ii) Advantages and disadvantages and its media;
(ii) analyse the advantages and disadvantages
of advertising;
b. Banking:
(i) Types of bank (iii) categorize the different types of bank;
(ii) Services (iv) assess the services rendered by banks;
(iii) Challenges (v) identify the challenges facing banks;
c. Communication: (vi) assess the different
(i) Process and procedure stages in the communication
(ii) Types process;
(iii) Trends (vii) analyse the types of communication;
(viii) appraise the contributions of
(iv) Merits and demerits
courier services, GSM, etc., to businesses;
(v) Barriers (ix) state the merits and
demerits of communication;
d. Insurance: (x) outline the barriers to communication
(i) Types
(ii) Principles (xi) describe the types of insurance;
(iii) Terms (xii) apply the principles of insurance to life
(iv) Importance situations;
(xiii) explain the terms in insurance;
(xiv) state the importance of insurance;
e. Tourism:
(i) Importance
(ii) Agencies that promote tourism in
(xv) examine the importance of tourism;
Nigeria (iii) Challenges (xvi) identify the agencies that promote tourism
in Nigeria;
f. Transportation: (xvii) analyse the challenges facing tourism in
(i) Mode Nigeria;
(ii) Importance
(iii) Advantages and disadvantages
(xviii) appraise the relevance of the various
modes of transportation;
(xix) list the importance of transportation;
g. Warehousing: (xx) discuss the advantages and disadvantages of
(i) Importance transportation;
(ii) Types and functions
(iii) Factors to be considered in siting a
warehouse (xxi) highlight the importance of warehousing;
(xxii) appraise the contributions of warehouses to
businesses.
(xxiii) evaluate the factors that determine the siting
of warehouses.
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TOPICS/CONTENTS/NOTES OBJECTIVES
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7. Business Units Candidates should be able to:
(i) Forms and features (Sole (i) identify the forms and features of business
Proprietorship, Partnership, Limited units;
Liability Companies, Public (ii) analyse the procedures for registering
Corporations, Cooperative Societies, businesses;
etc.) (iii) appraise the different forms of business
(ii) Registration of businesses mergers and the reasons for merging;
(iii) Business Mergers (iv) examine the factors which determine the
(iv) Determination of choice of business choice of business units;
units (v) differentiate between dissolution and
(v) Dissolution and liquidation liquidation of business;
(vi) Merits and demerits (vi) state the merits and demerits of business
units.
8. Financing Business Candidates should be able to:
(i) Sources of finance (personal savings, (i) identify the various ways of financing a
sale of shares and bonds, loans, business;
debentures, mortgage, bank overdraft, (ii) discuss the different types of capital
ploughing back of profit, credit (iii) compute the different forms of capital,
purchase, leasing, etc.) profits and turnover;
(ii) Types of capital (share capital, capital (iv) appraise the problems associated with
owned, authorized (capital, issued sourcing finances for business;
capital, called-up capital, paid-up (v) assess the role of bureauxdechange in an
capital, liquid capital, working capital economy.
and owners’ equity)
(iii) Calculation of forms of capital, profits
(gross and net) and turnover
(iv) Problems of sourcing finance
(v) The role of Bureaux de change in an
economy
9. Trade Associations
Candidates should be able to:
(i) Objectives and functions of trade and
(i) discuss the objectives and functions of trade
manufacturer’s associations (Cocoa
and manufacturer’s associations;
Farmers’ Association, Garri Sellers’
(ii) list the objectives and functions of
Association, Poultry Farmers’
Chambers of Commerce.
Association, etc.)
(ii) Objectives and functions of Chambers
of Commerce.
10. Money
Candidates should be able to:
(i) Evolution
(ii) Forms and qualities (i) discuss the origin of money;
(iii) Functions
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(ii) analyse the forms and qualities of money; (iii)
appraise the functions of money.
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TOPICS/CONTENTS/NOTES OBJECTIVES
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11. Stock Exchange Candidates should be able to:
(i) Importance and functions (i) state the importance and functions of the
(ii) Types of securities (stocks, shares, Stock Exchange;
bonds, debentures, etc) (ii) identify the different securities traded on the
(iii) Procedure of transactions and Stock Exchange;
speculations (iii) analyse the procedure of transactions and
(iv) Second-Tier Securities Market, (listing speculations on the Stock Exchange;
requirements, types of companies for (iv) appraise the advantages and operating
the market, advantages and operating regulations of the market.
regulations of the market.)
12. Elements of Business Management Candidates should be able to:
(i) Functions (planning, organizing, (i) appraise the functions of management;
staffing, coordinating, motivating, (ii) analyse the principles of management;
communicating, controlling etc) (iii) identify organizational structures; (iv)
(ii) Principles (span of control, unity of assess the functional areas of business; (v)
command, delegation of authority, etc) examine the business resources.
(iii) Organizational structure (line, line and
staff, functional, matrix and
committee)
(iv) Functional areas of business
(production, marketing, finance and
personnel)
(v) Business resources (man, money,
materials, machines and
opportunities/goodwill)
13. Elements of Marketing
(i) Importance and Functions Candidates should be able to:
(ii) The marketing concept (consumer
orientation, customer (i) highlight the importance and functions of
satisfaction, integrated marketing;
marketing, etc) (ii) discuss the marketing concept;
(iii) Marketing mix (product, price, place (iii) assess the elements of marketing mix;
and promotion) (iv) explain market segmentation;
(iv) Market Segmentation (v) examine public relations and customer
(v) Public relations and Customer Service. service.
14. Legal Aspects of Business
Candidates should be able to:
(i) analyse the elements and validity of a simple
(i) Meaning and validity of a simple
contract;
contract
(ii) examine Agency, Sale of Goods Act and
(ii) Agency, Sale of Goods Act and Hire
Hire Purchase Act;
Purchase Act
(iii) assess the rights and obligations of
(iii) Contract of employment
employers and employees;
(iv) Government regulations of business
(registration of business, patents,
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trademarks, copyrights, etc) (iv) distinguish between patents, trademarks and
copyrights;
(v) identify the functions of consumerism;
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TOPICS/CONTENTS/NOTES OBJECTIVES
(v) Consumer protection (Government (vi) assess the relevance of regulatoryagencies and
legislation, Standards Organization acts in the provision of safe goods and
Trade Descriptions Act, Consumer drugs.
Protection Council, NAFDAC,
NDLEA, Customs and Excise, etc.)
(vi) Regulatory agencies.
15.Information and Communication Candidates should be able to:
Technology (ICT)
(i) discuss computer appreciation
a. Computer: and application;
(i) Appreciation and application (ii) enumerate the types and functions of
(ii) Types and functions computer;
(iii) Merits and demerits (iii) analyse the merits and demerits of ICT;
(iv) Challenges (iv) appraise the challenges of using the
computer;
b. Terms (Internet, Intranet, browsing, (v) identify the different terms used in ICT; (vi)
password, e-mail, google, yahoo, search, evaluate the trends in ICT.
Local Area Network, etc.)
c. Activities:
(i) e-commerce
(ii) e-banking
(iii) e-business
16. Business Environment and Social
Responsibility
Candidates should be able to:
(i) Legal, political, economic, social,
cultural, technological environments, (i) discuss the types of business environment;
etc (ii) assess the role of social environment in the
(ii) Safe products, provision of safe products;
philanthropic and societal (iii) identify the different types of pollution and
consideration their implications on businesses.
(iii) Types and implication of pollution
(water, air, land, etc.)
RECOMMENDED TEXTS
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Ahukannah, L. I. et al (1992) Commerce for Secondary Schools
Onitsha: Africana – First Publishers.
Asaolu, A. and Igwe, P. M. (2005) New Syllabus Commerce for Secondary Schools
Books 1 – 3 (Second Edition) Ibadan: Evans.
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Babatunde, A. H. (1999) Handbook on Commerce for Schools and Colleges,
(First Edition), Global Publications.
Eriki, P. O. (1998) Working with Computer, Benin:Bofic Publishers.
French, C. S. (2000) Computer Science, (Fifth Edition), Britain: Ashford.
Ibru, G. M. (2004) Nigeria: The Promise of Tourism, Lagos: G.S.L. Publishing Limited.
Igwe, P. M. e tal (2004) Countdown to WASSCE/SSCE/NECO/JME Commerce, Ibadan: Evans.
James, A. F, et al (1996) Management, (Sixth Edition), New Delhi: Prentice Hall).
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Odedokun, M. O. et al (1999) Commerce for Senior Secondary Schools, Books 1 – 3, Lagos: Longman.
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Onifade, A. (2001) Management: Office Business Education, Abeokuta: KAPPCO.
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Onu, A. J. C. (2000) Marketing Today, Abuja: Precious Treasures Ltd.
Pallister, J. and Isaacs, A. (eds) (2002) A Dictionary of Business (Third Edition), Oxford: Oxford
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Ubaka, O. A., (2012), Commerce Simplifiedfor SSS 1 – 3, WAEC, NECO, JAMB & NABTEB EXAMS,
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