Transportation is one of the aids to trade. It is the process of conveying goods and people...
Month: August 2022
A partnership business may be established without any formality although the partners have certain unavoidable obligations to...
Dissolution of partnership is the coming to an end of a partnership agreement. It is the breakup...
Bank is a commercial institution which performs various financial activities, e.g. accepting and handling of deposits of...
The theory of demographic transition theory is the latest attempt made to provide a historical analysis into...
The Malthusian population theory is the outcome of an essay title “An Essay on Population” written in...
Credit unions and thrift societies may be referred to as the coming together of a group of...
Underwriting: This is the process whereby a merchant of insurance company undertakes to cover, underwrite a portion...
Fire Insurance is a type of insurance which provides cover for loss or damage caused by burning....
Life Assurance is one important branch of insurance which is taken as a protection against loss caused...
Marine insurance is a branch of insurance which covers losses or liabilities relating to ship and their...
There are various risks which a business should Insure against. These constitute the various types of insurance,...
Insurance can be defined as an agreement whereby one party promises to indemnify or pay another party...
CAREER OPPORTUNITIES IN COMMERCIAL STUDIES There are various career opportunities available for people in the job market,...
ORGANISATIONAL SET UP The organisational set up of a business involves the allocation of responsibilities and functions...
NATIONALISATION Nationalisation is a deliberate policy by which government takes over the control and ownership of private...
Formation: The International Monetary Fund was set up after the Second World War in order to encourage...
Formation: The Niger Basin Commission (NBC) was established by countries located in the Niger basin to maintain...
Formation: The Lake Chad Basin Commission (LCBC) is an organisation set up to foster cooperation among countries...
Foreign trade, otherwise called international trade, is the exchange of goods and services between two or more...
Production can simply be defined as the creation of utility or production is the creation of goods...
HISTORY OF COMMERCE IN NIGERIA In the olden days, people engaged in subsistence production. This means they...
MEANING OF COMMERCE Commerce can simply be defined as all the activities involved in the distribution and...
MEANING OF CREDIT Credit occurs when a seller grants permission to a buyer to take possession and...
TYPES OF INTERNATIONAL TRADE DOCUMENTS There are various documents which facilitate international trade. These documents are as...
MEANING OF STOCK EXCHANGE Stock exchange market is a highly organised market where investors can buy and...
MEANING OF PAYMENT Payment can be defined as the process or means of settling financial or business...
Wholesaling is a business activity which entails buying of goods in bulk from the producer and selling in...
Small scale retailing is retail trading with small scope of operations. Little capital can be used to...
Home trade is the act of buying and selling goods within a geographical area, usually a country....
Exchange is the process of giving out value in order to have something of value in return....
New trends have been introduced in retailing business because of the dynamic nature of commercial activities. In...
Retail co-operative society is a form of co-operative in which many small independent retailers pool their resources...
Discount Houses A discount house is a retailing business unit that features a large variety of products...
Mail Order Mail order is a form of large retailing in which buying and selling is carried...
Super Market A super market is a large retailing business unit selling mainly food and household items...
The departmental store is a collection of shops under one roof with ownership of each shop or...
Large scale retailers achieve their growth by increasing the physical size of their units to cater for...
MEANING OF OCCUPATION Occupation can be defined as any economic or productive activities which people engage in...
A consumer is an individual who makes the final use of goods and services provided by a...
MEANING OF BUSINESS Business can be defined as the sum total of all economic activities which people...
MEANING OF PUBLIC RELATIONS The British Institute of Public Relations defines public relations as: “a planned and...
Advertising can be defined as any paid form of non-personal communication which is directed to the customers...
THE EMPLOYER The employer is somebody or an institution that hires or provides work for another person...
DEFINITION OF NEGOTIABLE INSTRUMENT A negotiable instrument is a document evidencing an obligation which is transferable by...
DEFINITION OF SALE OF GOODS The Sale of Goods Act 1893 defines sale of goods as: ”...
DEFINITION OF AGENCY An agency can be defined as a legal relationship that exist between two parties,...
DEFINITION OF CONTRACT A contract can be defined as: “An agreement between two or more parties which...
Devaluation may be defined as the reduction in the value of the country’s currency in terms of...
Definition of Balance of Payments Balance of payments may be defined as the relationship between the sum...
