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SS3: COMMERCE - 1ST TERM

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  1. Business and Its Environment | Week 1
    2 Topics
    |
    1 Quiz
  2. Introduction to Marketing | Week 2
    6 Topics
    |
    2 Quizzes
  3. Consumer Protection | Week 3
    1 Topic
  4. Instruments for Protection | Week 4
    9 Topics
  5. Agencies that Educate and Protect Consumers | Week 5
    8 Topics
    |
    2 Quizzes
  6. Business Documents | Week 6
    3 Topics
    |
    2 Quizzes
  7. Means of Payment | Week 7
    5 Topics
    |
    1 Quiz
  8. Commercialization | Week 8
    4 Topics
  9. Privatization | Week 9
    4 Topics



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It is money which by law must be accepted in payments for goods and services.

1. Coins: These are small pieces of precious metals issued and stamped by the central bank which can be used as a medium of exchange.

2. Bank Note: This can also be referred to as paper money. These are notes of different denominations made and issued by the central bank. They are commonly used in Nigeria because they are legal tender.

Evaluation Questions

1. Explain the various means of payments.

2. Briefly explain the following:
i. prompt cash.
ii. CWO
iii. Spot cash
iv. Trade discount
v. Seasonal Discount

3. Differentiate the following terms
a. Invoice and Pro-forma invoice  
b Credit note and debit note
c. Delivery note and consignment note.

4. List and explain briefly four ways by which payment can be made through the post office.

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