Below is this year WAEC syllabus for commerce (OBJ/Essay) questions and answers 2024, Get free PDF File Commerce WAEC Syllabus Questions paper, Free live WAEC Commerce Syllabus. Please note that this syllabus is for both internal and external candidates
WAEC Commerce Syllabus
This WAEC Commerce examination is derived from the National Curriculum for Senior Secondary School Computer Studies, outlining the course scope for examinations at this level.
Aims and Objectives:
- To develop candidates’ understanding of the role of Commerce and its relationship with other aspects of production.
- To foster appreciation of the basic concepts and principles of Commerce.
- To enable candidates to relate Commerce concepts and principles to practical situations.
Scheme of Examination:
- Two papers: Paper 1 and Paper 2, both compulsory.
PAPER 1:
- 50 compulsory multiple-choice questions covering the entire syllabus.
- Duration: 1 hour.
- Weight: 25% of total marks.
PAPER 2:
- 10 essay-type questions, out of which candidates must answer any five.
- Duration: 2½ hours.
- Weight: 75% of total marks.
Detailed WAEC Syllabus for commerce:
1. Meaning, Scope, and Functions of Commerce:
- History of Commerce.
- Definition and factors of production.
- Inter-relationship between production and exchange.
2. Business Units:
- Objectives and formation of different business entities.
- Characteristics, advantages, and disadvantages of sole proprietorship, partnership, public and private limited liability companies, public enterprises, and cooperative societies.
3. Trade:
- Purpose and branches of trade.
- Home Trade: Functions of retailers, types of retail outlets, trends in retailing.
- Foreign Trade: Terms of trade, balance of trade, customs and excise authority, export promotion council.
4. Banks:
- Types and functions of banks.
- Types of accounts and their features.
5. Insurance:
- Principles of insurance.
- Types of insurance and their importance.
6. Stock Exchange:
- Functions, procedures, and types of securities.
7. Transport and Communications:
- Forms of transport and their advantages/disadvantages.
- Functions of seaports and airports.
- Communication services and importance.
8. Introduction to Marketing:
- Advertising: Role, types, advantages, and disadvantages.
- Public relations, customer services, and personal selling.
9. Government Regulation of Business:
- Legislation such as the Sale of Goods Act, Hire Purchase Act, and Trade Description Act.
- Nationalization, indigenization/divestiture.
10. International Organizations:
- ECOWAS, EEC, ACP, IBRD, IMF, UNCTAD, etc.
- Objectives and obstacles of each organization.
SUGGESTED READING LIST:
- "Commerce for Senior Secondary Schools" by Odedokun, Udokogu, and Ogiyi.
- "Commerce for Senior Secondary Schools" by CESAC, Shanelson Publishers, Ibadan.
- "Modern Commercial Knowledge" by L. W. T. Stafford.
- "Marketing" by G. B. Giles.
- "Basic Marketing" by Jerome McCarthy.
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