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WAEC: OFFICIAL WASSCE 2021 TIMETABLE


WAEC: How TO GET 2021 WAEC Question & Anwer Before Exam Start

WAEC 2021 Commerce (Objective & Essay) Question and Answer

WAEC 2021 Commerce Expo Answer

Commerce is a core subject for any commercial student taking 2021 WAEC in senior secondary school. Any commercial student that failed in Commerce will not be able to use his/her own certificate to proceed further in pursuing another level certificate. Therefore, you need to subscribe in order to pass this paper so that your effort of 6 years in secondary school will not be in vain.

Detailed Area Of Concentration For Commerce WAEC 2021

1. INTRODUCTION
Meaning, scope and functions of Commerce, History of Commerce.

2. OCCUPATIONS
Types – Industry, Commerce, Direct and Indirect Services.

3. PRODUCTION
Definition, factors, primary, secondary and tertiary production. Inter-relationship
between production and exchange.

4. BUSINESS UNITS
(i) Meaning and objectives of business;

(ii) Forms of Business Units – Sole proprietorship, Partnership, Public and Private Limited Liability Companies, Public Enterprises and Cooperative Societies;

(iii) Formation, characteristics, advantages and disadvantages;

(iv) Dissolution/liquidation

5. BUSINESS CAPITAL AND PROFITS
(i) Meaning and types – authorized/registered/nominal/issued capital, called-up, paid
up, capital owned, capital borrowed, liquid/circulating capital;

(ii) Calculation of working capital, the importance of working capital;
(iii) Profit – meaning, types and calculation of profits;

(iv) Turnover – meaning and calculation.

6. TRADE ASSOCIATIONS
(i) Aims and functions of trade associations;

(ii) Chamber of Commerce, Employers’ Association, Consumer Association and
Manufacturers’ Association – Aims and functions.

7. TRADE
Purpose and branches of trade – Home Trade and Foreign Trade.

(a) HOME TRADE

(i) Retail Trade – Functions of the Retailer and factors to consider in starting
retail business.

Small scale and large scale retailing. Types of Retail outlets, the main
characteristics of each.

Trends in Retailing – branding, after-sales service, self service, vending
machines, luncheon and fuel vouchers.

(ii) Wholesale Trade – Functions of the wholesaler. Types of wholesalers –
Merchant and Agent wholesalers.

(iii) Warehousing – importance, functions and types of warehouses.
(iv) Forces making for the elimination and survival of the middleman.

(v) Channels of Distribution – Producer – Wholesaler – Retailer – Consumer.
Factors for the choice of the channels.

(b) FOREIGN TRADE

(i) Basic concepts in International Trade – Terms of trade, balance of trade,
balance of payment, counter
trade.

(ii) Export, Import and Entrepot – procedures and documents used. Visible
and Invisible Trade.

(iii) Barriers to International Trade

(iv) Functions of Ports Authority. Customs and Excise Authority, Customs,
Excise and Preventive Services and shipping, clearing and forwarding
Agents, Export Promotion Council.

8. PURCHASE AND SALE OF GOODS
(i) Procedure and documents;

(ii) Terms of Trade – Trade Discount, Cash discount, Quantity discount, C.O.D.,
C.I.F., F. O. B., E. and O.E.

(iii) Terms of payment – Cash, hire purchase and deferred payment;

(iv) Means of payment – Legal tender, cheques, standing order, bank drafts, stamps,
postal orders, money orders, bills of exchange and promissory notes.

9. FINANCE AND FINANCIAL INSTITUTIONS
(a) MONEY – Meaning, forms, qualities and functions.

(b) BANKS – Types of Banks – Central Bank, Commercial Banks and other specialised banks and their features and functions. Types of accounts – current, savings and fixed deposit accounts, and their main features.

(c) INSURANCE – Meaning and basic principles of insurance – utmost good faith, insurable interest, contribution, indemnity and proximate cause.

(d) TYPES OF INSURANCE – Fire, personal accident, marine, life and endowment, burglary, insurable and uninsurable risks. Importance of insurance to business and individuals. Procedure for taking an insurance policy.

(e) STOCK EXCHANGE – Meaning and functions, procedure of transactions and speculations. Types of securities.

(f) CREDIT – Meaning, types and functions.

(g) CREDIT UNIONS AND THRIFT SOCIETIES – Meaning and aims, functions
and services provided to
members.

13. TRANSPORT AND COMMUNICATIONS
(a) TRANSPORT

(i) Meaning and importance;

(ii) Forms of Transport – Land, water, air and pipeline. Advantages and disadvantages of each form.

(iii) Functions of Seaports and Airports.

(b) COMMUNICATION – Meaning, importance and services of Post Office, Courier Agencies and other communication agents.

11. INTRODUCTION TO MARKETING
(a) MARKETING

(i) Meaning, importance and functions;

(ii) The marketing concept, the marketing mix (4p’s), market segmentation and consumer sovereignty.

(b) ADVERTISING

(i) Meaning, role, types and media;

(ii) Advantages and disadvantages.

(c) PUBLIC RELATIONS AND CUSTOMER SERVICES

Meaning and importance.
(d) SALES PROMOTION – Trade fairs, exhibitions, gifts and
demonstrations.

(e) PERSONAL SELLING – Meaning and uses.

12. LEGAL ASPECTS OF BUSINESS
(a) (i) Areas of law that relate to business – Contract, Agency, Sale of Goods
Act, Hire Purchase Act; Trade Description Act.

(ii) Rights and obligations of employer and employee;

(iii) Government regulation of business – Registration of business, patents,
trade marks and copy rights.

(b) CONSUMER PROTECTION

(i) Need for protection;

(ii) Means of protection – Government legislations, Food and Drugs Act, Standard Organisation Act, Trade
Description Act, Consumer Association, Price Control, Product Quality, Factory Shops and Offices Acts, etc.

13. NATIONALISATION AND INDIGENISATION/DIVESTITURE
(i) Meaning and Aims;

(ii) Advantages and Disadvantages.

14. ECONOMIC GROUPINGS
ECOWAS, Niger Basin Commission (NBC), Lake Chad Basin Commission (LCBC), Mano River Union, European Economic Community (EEC), African Caribbean and Pacific (ACP), International Bank for Reconstruction and Development (IBRD), International Monetary Fund (IMF), United Nations Conference on Trade and Development (UNCTAD) – Objectives and Obstacles.

15. INTRODUCTION TO BUSINESS MANAGEMENT
Meaning
ii. Objectives of business
iii. Meaning of Business Management
iv. Functions
v. Business Resources
– Man, Money,Materials Opportunities/Goodwill

Structure of Business organizational setup
Organisational chart, Departments, Functions
of each, Authority, Delegation of Authority
– Responsibility Span of Control

Meanings
vii. Business and its environment Economical
– Political Competition Technological etc
viii. Social responsibility of Business to the Society
ix. Importance of Inter and Intra departmental
communications.

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The 2021 WAEC Commerce (Obj & Essay) Solution Expo Questions and Answers have indeed been long expected and much anticipated. While the official body to conduct the 2021 Senior School Certificate Examination which is the West African Examination Council was originally slated for May/June, but due to some reasons best known to the body, it is now scheduled for August/September.

The following is the examination schedule.

Friday, 10th September

WAEC (Commerce) Answer Obj & Essay – Expo Runz


Commerce 2 (Essay) 3:00pm. –5:00pm.
Commerce 1 (Objective) 5:00pm. –5:50pm.

 

Dear candidates, you are welcome to the May/June 2021 Expo Runz Real and Verified WAEC Commerce (Obj and Essay/Theory) Questions and Answers.

Verified WEST AFRICA EXAMINATION COUNCIL 2021 Commerce Solved Answer Page via Expospy

The 100% Verified 2021 WAEC Commerce Questions and Answers Are Now At Hand.
Subscribe Now to Receive Complete Answer.
WAEC Questions and Answers for All Subjects Are Delivered Hours Before the Exam Begins.

How to Get WAEC Commerce Answer 2021 ?

1.Whatsapp Answer

Simply Send MTN Recharge Card worth N500 to get the whole WAEC 2021 Commerce answer online via our password protected page.

2. Online Pin/Password Answer

Simply Send MTN Recharge Card worth N500 to get the whole WAEC 2021 Commerce answer online via our password protected page.


How to Subscribe:
1. For Whatsapp Answer
Send The card pin, Subject name(WAEC Commerce Answer) as whatsapp message to 09050785267 on Whatsapp.(Please don’t call the number and don’t message the number on Whatsapp if you didn’t agree to anything posted here)

2. For Password link answer
Send The card pin, Subject name( WAEC Commerce Answer ) and your phone number as SMS to 09050785267 (Please don’t call the number, just send your card)

Please carefully follow the instructions so that we can better assist you.

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NOTE

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-Commerce cost N500 for Whatsapp Answer
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