JSS1: BUSINESS STUDIES - 1ST TERM
Introduction to Business Studies | Week 14 Topics|1 Quiz
The Office | Week 24 Topics|1 Quiz
The Clerical Staff | Week 34 Topics|1 Quiz
Right Attitude to Work | Week 45 Topics|1 Quiz
The Departments in an Office or Organisation | Week 53 Topics|1 Quiz
Introduction to Commerce | Week 63 Topics|1 Quiz
Division of Commerce | Week 75 Topics|1 Quiz
Production | Week 85 Topics|1 Quiz
Factors of Production | Week 92 Topics|1 Quiz
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Home Trade | Wholesale and Retail Trade
Home trade is concerned with buying and selling goods and services, produced within a country, to satisfy the wants of consumers.
For example, if garri, produced in Benin City, is sold to a customer in Lagos, it is regarded as home trade.
Some of the products involved in home trade are yam, maize, rice, beans, plantain, garri, millet, sorghum, cassava, groundnut, palm oil, etc.
Home trade is subdivided into two, wholesale and retail trade.
This is the act of buying goods, in large quantities, from the manufacturers and selling them in small quantities to retailers. Those involved in wholesale trade are known as wholesalers.
b. Retail Trade:
This is the act of buying goods, in small quantities, from the wholesaler and selling them in bits or units to the consumer. Those involved in retail trade are called retailers.