JAMB Commerce Syllabus

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Basic knowledge of Commerce.

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Relationship between Commerce and other related fields.

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Principles of Commerce in the Nigerian economy.

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Dynamic and positive changes in commercial activities.

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Meaning of e-commerce and e-business.

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Meaning and scope of Commerce.

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Characteristics of Commerce.

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Functions of Commerce.

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Meaning and importance of occupation.

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Types of occupation: industrial, commercial and services.

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Factors that determine the choice of occupation.

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Factors of production: land, labour, capital and entrepreneur.

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Characteristics and rewards of land, labour, capital and entrepreneur.

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Meaning and principles of division of labour and specialization.

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Primary, secondary and tertiary production.

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Relationship between production, specialization and exchange.

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Types of retail trade.

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Functions of retailers.

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Factors to be considered when setting up a retail trade.

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Trends in retailing, including branding, self-service, vending machines, luncheon vouchers and fuel vouchers.

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Advantages and disadvantages of retailers.

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Reasons for the success or failure of retail trade.

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Types of wholesalers, including merchant, agent and general wholesalers.

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Channels of distribution.

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Functions of wholesalers.

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Advantages and disadvantages of wholesalers and middlemen.

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Types of foreign trade.

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Basic issues in foreign trade, including balance of trade, balance of payments and counter trade.

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Procedures and documents used in export, import and entrepôt trade.

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Barriers to international trade.

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Tariffs and reasons for their imposition.

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Tools for trade restriction and export promotion.

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Roles of the Customs and Excise Authority, Ports Authority and other government agencies in foreign trade.

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Documents and procedures used in purchasing and selling goods, including enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of lading, certificate of origin and consignment note.

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Trade discount, quantity discount, cash discount, warranties, C.O.D., C.I.F., F.O.B. and E.O.E.

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Cash payment, including spot and prompt payment.

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Credit: meaning, types, functions, merits and demerits.

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Legal tender, including bank notes and coins; cheques; standing orders; bank drafts; stamps; postal orders; money orders; bills of exchange; promissory notes; mail transfers; traveller's cheques; telegraphic transfers; electronic payments and recharge cards.

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Meaning and roles of advertising.

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Types, media and methods of advertising.

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Advantages and disadvantages of advertising.

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Types of banks.

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Services rendered by banks.

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Challenges facing banks.

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Electronic banking (e-banking).

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Communication process and procedures.

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Types of communication.

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Trends in communication, including courier services and GSM.

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Merits and demerits of communication.

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Barriers to communication.

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Types of insurance.

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Principles of insurance.

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Terms used in insurance.

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Importance of insurance.

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Types of risk in insurance.

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Meaning and forms of tourism.

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Importance of tourism.

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Agencies that promote tourism in Nigeria.

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Challenges facing tourism in Nigeria.

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Tourist centres in Nigeria.

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Modes of transportation.

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Importance of transportation.

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Advantages and disadvantages of transportation.

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Importance of warehousing.

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Types and functions of warehouses.

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Factors to be considered when siting a warehouse.

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Forms and features of sole proprietorships, partnerships, limited liability companies, public corporations and cooperative societies.

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Procedures for registering businesses.

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Factors determining the choice of business units.

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Dissolution and liquidation of businesses.

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Advantages and disadvantages of different business units.

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Reasons for government ownership of public enterprises.

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Sources of finance, including personal savings, sale of shares and bonds, loans, debentures, mortgages, bank overdrafts, ploughing back of profits, credit purchases and leasing.

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Share capital, capital owned, authorized capital, issued capital, called-up capital, paid-up capital, liquid capital, working capital and owners' equity.

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Calculation of different forms of capital, gross profit, net profit and turnover.

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Problems associated with sourcing finance for businesses.

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Role of Bureau de change in an economy.

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Objectives and functions of trade and manufacturers' associations, including Cocoa Farmers' Association, Garri Sellers' Association and Poultry Farmers' Association.

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Objectives and functions of Chambers of Commerce.

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Forms of business combination and merger.

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Origin and evolution of money.

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Forms and qualities of money.

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Functions of money.

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Importance and functions of the Stock Exchange.

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Stocks, shares, bonds, debentures and other securities traded on the Stock Exchange.

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Procedures for transactions and speculations on the Stock Exchange.

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Listing requirements, types of companies eligible for the market, advantages and operating regulations of the Second-Tier Securities Market.

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Planning, organizing, staffing, coordinating, motivating, communicating and controlling.

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Principles of management, including span of control, unity of command and delegation of authority.

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Line, line-and-staff, functional, matrix and committee organizational structures.

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Production, marketing, finance and personnel.

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Man, money, materials, machines and opportunities or goodwill as business resources.

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Importance and functions of marketing.

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Consumer orientation, customer satisfaction and integrated marketing.

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Product, price, place and promotion.

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Meaning and principles of market segmentation.

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Public relations and customer service in business.

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Electronic marketing and its application in business.

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Meaning and validity of a simple contract.

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Agency, the Sale of Goods Act and the Hire Purchase Act.

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Contracts of employment and the rights and obligations of employers and employees.

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Government regulation of business, including business registration, patents, trademarks and copyrights.

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Consumer protection through government legislation and agencies, including the Standards Organisation, Trade Descriptions Act, Consumer Protection Council, NAFDAC, NDLEA, and Customs and Excise.

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Consumer protection legislation and regulatory agencies responsible for safe goods and drugs.

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Meaning of commodity exchange.

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Agricultural produce, solid minerals, oil and gas.

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Grading systems, warehousing, clearing systems and standardization.

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Open outcry and electronic trading mechanisms.

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Benefits of commodity exchange.

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Constraints and challenges affecting commodity trading.

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Legal, political, economic, social, cultural and technological environments.

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The role of the social environment in providing safe products.

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Safe products, philanthropy and societal considerations in business.

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Types of pollution, including water, air and land pollution, and their implications for businesses.