The Unified Tertiary Matriculation Examination (UTME) syllabus was used to design this course. The course content is also relevant for other exams, such as the National Examination Council (NECO) exams, the West African Examination Council (WEAC) exams, and the General Certificate of Education (GCE) exams.

Free Lesson 

Commerce CBT

Free Lesson 

Commerce CBT


The Unified Tertiary Matriculation Examination (UTME) syllabus was used to design this course. The course content is also relevant for other exams, such as the National Examination Council (NECO) exams, the West African Examination Council (WEAC) exams, and the General Certificate of Education (GCE) exams.

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Ekoma Kingsley Omoriotimwa

Ekoma Kingsley Omoriotimwa

Course Instructor

In this course, I will use various E-learning tools to help you prepare for your exams. Commerce is a field that students who have an interest in Accounting, Economics, and other commercial studies often consider taking during JAMB. Students who are looking forward to pursuing a career in Commerce have a wide range of choices before them. I encourage you to enroll in this course



Assistant Course Instructor

Learning Outcomes

At the end of this course, candidates should be able to:

1. Acquire the basic knowledge of Commerce;
2. Examine the relationship between Commerce and other related fields;
3. Apply the principles of Commerce in the Nigerian economy and
4. Appreciate dynamic and positive changes in commercial activities.

Course Syllabus


(i) Meaning and scope
(ii) Characteristics
(iii) Functions


(i) Meaning and importance
(ii) Types (industrial, commercial and
(iii) Factors that determine choice of


(i) Factors, characteristics and rewards
(land, labour, capital and entrepreneur)
(ii) Division of Labour and specialization
(iii) Types (primary, secondary and


a. Home Trade
(i) Retail trade:
– Types of retailers
– Functions of retailers
– Factors to be considered in setting
up retail trade
– Trends in retailing (branding, self –
service, vending machines, the use
of luncheon, fuel vouchers,etc)
– Advantages and disadvantages of
(ii) Wholesale trade:
– Types of wholesalers (merchant,
agent, general, etc)
– Functions of wholesalers
– Advantages and disadvantages of
b. Foreign trade
(i) Basic issues in foreign trade (balance of
trade, balance of payments and counter
(ii) Procedures and documents used in
export, import and entrepôt trade
(iii) Barriers to international trade
(iv) Role of Customs and Excise Authority,
Ports Authority, etc in foreign trade
5. Purchase and Sale of Goods
(i) Procedure and documentation
(enquiry, quotation, order, invoice,
proforma invoice, statement of
accounts, indent, consular invoice, bill
of lading, certificate of origin,
consignment note, etc)
(ii) Terms of trade (trade discount,
quantity discount, cash discount,
warranties, C.O.D., C.I.F., F.O.B., and
E.O.E. etc)
(iii) Terms of payments
a. Cash – Legal tender
b. Credit
– Types and functions
– Merits and demerits


a. Advertising:
(i) Types and media
(ii) Advantages and disadvantages
b. Banking:
(i) Types of bank
(ii) Services
(iii) Challenges
c. Communication:
(i) Process and procedure
(ii) Types
(iii) Trends
(iv) Merits and demerits
(v) Barriers
d. Insurance:
(i) Types
(ii) Principles
(iii) Terms
(iv) Importance
e. Tourism:
(i) Importance
(ii) Agencies that promote tourism in
(iii) Challenges
f. Transportation:
(i) Mode
(ii) Importance
(iii) Advantages and disadvantages
g. Warehousing:
(i) Importance
(ii) Types and functions
(iii) Factors to be considered in siting
a warehouse

Business Units

(i) Forms and features (Sole
Proprietorship, Partnership, Limited
Liability Companies, Public
Corporations, Cooperative Societies,
(ii) Registration of businesses
(iii) Business Mergers
(iv) Determination of choice of business
(v) Dissolution and liquidation
(vi) Merits and demerits

Financing Business

(i) Sources of finance (personal savings,
sale of shares and bonds, loans,
debentures, mortgage, bank overdraft,
ploughing back of profit, credit
purchase, leasing, etc.)
(ii) Types of capital (share capital, capital
owned, authorized (capital, issued
capital, called-up capital, paid-up
capital, liquid capital, working capital
and owners’ equity)
(iii) Calculation of forms of capital, profits
(gross and net) and turnover
(iv) Problems of sourcing finance
(v) The role of Bureaux de change in an

Trade Associations

(i) Objectives and functions of trade and
manufacturer’s associations (Cocoa
Farmers’ Association, Garri Sellers’
Association, Poultry Farmers’
Association, etc.)
(ii) Objectives and functions of Chambers
of Commerce.


(i) Evolution
(ii) Forms and qualities
(iii) Functions

Stock Exchange

(i) Importance and functions
(ii) Types of securities (stocks, shares,
bonds, debentures, etc)
(iii) Procedure of transactions and
(iv) Second-Tier Securities Market, (listing
requirements, types of companies for
the market, advantages and operating
regulations of the market.)

Elements of Business Management

(i) Functions (planning, organizing,
staffing, coordinating, motivating,
communicating, controlling etc)
(ii) Principles (span of control, unity of
command, delegation of authority, etc)
(iii) Organizational structure (line, line and
staff, functional, matrix and
(iv) Functional areas of business
(production, marketing, finance and
(v) Business resources (man, money,
materials, machines and

Elements of Marketing

(i) Importance and Functions
(ii) The marketing concept (consumer
orientation, customer satisfaction,
integrated marketing, etc)
(iii) Marketing mix (product, price, place
and promotion)
(iv) Market Segmentation
(v) Public relations and Customer Service

Legal Aspects of Business

(i) Meaning and validity of a simple
(ii) Agency, Sale of Goods Act and Hire
Purchase Act
(iii) Contract of employment
(iv) Government regulations of business
(registration of business, patents,
trademarks, copyrights, etc) 

(v) Consumer protection (Government
legislation, Standards Organization
Trade Descriptions Act, Consumer
Protection Council, NAFDAC,
NDLEA, Customs and Excise, etc.)
(vi) Regulatory agencies.

Information and Communication Technology (ICT)

a. Computer:
(i) Appreciation and application
(ii) Types and functions
(iii) Merits and demerits
(iv) Challenges
b. Terms (Internet, Intranet, browsing,
password, e-mail, google, yahoo, search,
Local Area Network, etc.)
c. Activities:
(i) e-commerce
(ii) e-banking
(iii) e-business

Business Environment and Social Responsibility

(i) Legal, political, economic, social,
cultural, technological environments,
(ii) Safe products, philanthropic and
societal consideration
(iii) Types and implication of pollution
(water, air, land, etc.)

Course Packages:

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