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JSS1: BUSINESS STUDIES - 1ST TERM

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  1. Introduction to Business Studies | Week 1
    4Topics
    |
    1 Quiz
  2. The Office | Week 2
    4Topics
    |
    1 Quiz
  3. The Clerical Staff | Week 3
    4Topics
    |
    1 Quiz
  4. Right Attitude to Work | Week 4
    5Topics
    |
    1 Quiz
  5. The Departments in an Office or Organisation | Week 5
    3Topics
    |
    1 Quiz
  6. Introduction to Commerce | Week 6
    3Topics
    |
    1 Quiz
  7. Division of Commerce | Week 7
    5Topics
    |
    1 Quiz
  8. Production | Week 8
    5Topics
    |
    1 Quiz
  9. Factors of Production | Week 9
    2Topics
    |
    1 Quiz
Lesson 7, Topic 3
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Home Trade | Wholesale and Retail Trade

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Home 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 sub-divided into two, wholesale and retail trade.

a. Wholesale.

This is the act of buying goods, in large quantities, from the manufacturers and selling 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.

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