Commerce involves a detailed study of trade, business activities, and the economic processes that enable the exchange of goods and services. This scheme of work by the Lagos State Government is designed to provide students with the foundational knowledge and skills needed to understand and participate in commercial activities.
Studying commerce in SS2 with the Lagos State Unified Scheme of Work provides a structured pathway to understanding fundamental aspects of business and trade. The curriculum emphasizes practical skills in economics, entrepreneurship, marketing, and finance, tailored to national educational standards. It equips students with knowledge essential for navigating the complexities of modern commerce and preparing for future careers in business and beyond.
At the end of SSS2, students can;
In senior secondary school 2, students are assessed in Commerce based on the school’s prerogative. However, typically, they are evaluated through tests or quizzes (Continuous Assessment Tests), and end-of-term exams.
Grading follows a scale from A to F, with A representing excellent performance, typically scoring around 70% or 80%, and F indicating failure, usually below 50% or 45%.
| LAGOS STATE MINISTRY OF EDUCATION UNIFIED SCHEMES OF WORK FOR SENIOR SECONDARY SCHOOLS | ||
| Commerce Scheme of Work for Senior Secondary Schools 2(SSS2) | ||
| CLASS | SS2 | |
| SUBJECT | COMMERCE | |
| TERM | First Term | |
| WEEK | TOPICS | Learning Objectives |
| 1 | REVISION | |
| 2 | PUBLIC ENTERPRISES – Meaning of public enterprises – Reasons for the establishment of public enterprises – Sources of capital of public corporation – Problems of public enterprises | At the end of the lesson, students should be able to: i. define public enterprises and state other names for it ii. state the reasons for their formation iii. describe the formation and management of public enterprises iv. discuss sources of capital of public corporation |
| 3 | LIMITED LIABILITY COMPANIES – Meaning of a company – Types of limited liability companies – Formation of a company – Characteristics of a company – Differences between article and memorandum of association | At the end of the lesson, students should be able to: i. define a company ii. describe the formation of a company iii. discuss the characteristics of a company iv. identify types of limited liability companies v. differentiate between article and memorandum of association |
| 4 | LIMITED LIABILITY COMPANIES II – Sources of capital of a company – Differences between private limited public limited liability companies – Advantages and disadvantages of limited liability companies | At the end of the lesson, students should be able to: i. enumerate and discuss sources of capital of a company ii. compare and contrast private and public limited liability companies iii. discuss the merits and demerits of limited liability companies |
| 5 | COOPERATIVE SOCIETIES – Definition of cooperative societies – Characteristics of cooperative societies – Types of cooperative societies – Similarities and differences between cooperative society and public company – Advantages and problems of cooperative societies | At the end of the lesson, students should be able to: i. define cooperative society ii. describe the types and characteristics of cooperative societies iii. compare and contrast cooperative society with public company iv. justify the impact of cooperative society to the economy and the society at large |
| 6 | COMMODITY EXCHANGE – Meaning of commodity – Trade-able commodities – Types of commodity exchanges – Requirements for trading – Methods for trading | At the end of the lesson, students should be able to: i. define commodity exchange ii. mention trade-able commodities iii. highlight the requirements for trading iv. describe the types of commodity exchange v. discuss method of trading |
| 7 | MID-TERM BREAK | |
| 8 | BENEFITS AND CONSTRAINTS OF COMMODITY – Benefits of commodity exchange – Constraints to commodity exchange | At the end of the lesson, students should be able to: i. give justification for commodity exchange ii. explain the criticisms of commodity exchange |
| 9 | PURCHASE AND SALE OF GOODS IN HOME AND FOREIGN TRADE – Procedure and documents used in business eg indent, consular invoice, letter of enquiry, etc | At the end of the lesson, students should be able to: i. classify business documents into documents used in home and foreign trade ii. discuss the importance of each document in trading |
| 10 | TERMS OF TRADE – Trade discount, quantity discount, cash discount,etc – Trade abbreviations eg C.O.D (Cash on Delivery), C.I.F (Cost Insurance and Freight), etc | At the end of the lesson, students should be able to: i. define discount ii. justify reason for discount given by sellers to buyers iii. differentiate between trade discount and cash discount iv. state the full meaning of trade abbreviations and their actual meaning |
| 11 | TERMS OF TRADE II – Meaning of payment such as bank draft, standing order, legal tender, credit card, etc | At the end of the lesson, students should be able to: i. identify various means of payment in business transactions ii. discuss the uses of each means of payment and where it can be used iii. create samples of means of payment |
| 12 | REVISION/EXAMINATION | |
| CLASS | SS2 | |
| SUBJECT | COMMERCE | |
| TERM | SECOND TERM | |
| WEEK | TOPICS | LEARNING OBJECTIVES |
| 1 | REVISION | |
| 2 | CREDIT – Meaning of credit – Sources of credit eg loan, overdraft, mortgage, etc – Functions of credit to both buyers and sellers – Disadvantages of credit to both buyers and sellers | At the end of the lesson, students should be able to: i. define credit ii. mention and discuss sources of credit to buyers iii. discuss the link between sources of credit and credit instruments iv. discuss the merits and demerits of to both buyers and sellers |
| 3 | TRADE ASSOCIATIONS – Meaning of trade associations – Aims and functions of trade associations – Chambers of commerce: meaning and functions | At the end of the lesson, students should be able to: i. define trade association ii. highlight the aims and functions of trade association iii. define chambers of commerce and state it’s functions |
| 4 | OTHER FORMS OF TRADE ASSOCIATIONS – Consortium, cartel, merger, syndicate, price rings, etc | At the end of the lesson, students should be able to: i. discuss other forms of trade associations and give practical examples ii. mention and describe types of merger iii. justify the reasons why companies merge iv. discuss the criticisms against mergers |
| 5 | INSURANCE – Definition of insurance – Importance of insurance to individuals and businesses – Basic principles of insurance – Types of risk eg insurable and non-insurable risk, speculative, etc | At the end of the lesson, students should be able to: i. define insurance ii. justify the importance of insurance to individuals and businesses iii. discuss various principles of insurance iv. differentiate between different types of risk |
| 6 | TYPES OF INSURANCE -ie fire insurance, fidelity guarantee insurance, motor vehicle insurance, etc – Terminologies in insurance eg prospectus, reinsurance, etc | At the end of the lesson, students should be able to: i. list and discuss various types of insurance ii. distinguish between underwriting and underwriter iii. describe terminologies in insurance iv. give a reason why life insurance is called so v. differentiate between endowment policy and whole life policy |
| 7 | MID-TERM BREAK | |
| 8 | CONSUMER PROTECTION – Meaning of consumer protection – Reasons for consumer protection – Means of consumer protection – Rights of consumers | At the end of the lesson, students should be able to: i. define consumers protection ii. give justification for consumer protection iii. state the rights of the consumers iv. discuss various means by which consumers can be protected |
| 9 | CONSUMER PROTECTION II – Agencies responsible for consumer protection – Government legislations that protect consumers | At the end of the lesson, students should be able to: i. list and discuss agencies that protect consumers ii. enumerate and discuss various legislations that protect consumers |
| 10 | TRANSPORTATION – Meaning and importance of transportation – Forms of transportation eg land, air, sea, etc – Advantages and disadvantages of each form of transportation – Documents used in transportation – Factors to be considered in choosing a means of transportation | At the end of the lesson, students should be able to: i. define transportation ii. discuss the importance of transportation iii. mention different forms of transportation and discuss the advantages and disadvantages of each iv. list and explain factors to be considered when choosing a means of transportation |
| 11 | ||
| 12 | ||
| CLASS | SS2 | |
| SUBJECT | COMMERCE | |
| TERM | THIRD TERM | |
| WEEK | TOPICS | LEARNING OBJECTIVES |
| 1 | REVISION | |
| 2 | WAREHOUSING – Meaning – Types of warehouses – Importance of ware housing | At the end of the lesson, students should be able to: i. define warehousing ii. distinguish between warehouse and warehousing iii. give different classifications of a warehouse iv. highlight the importance of a warehouse |
| 3 | THE STOCK EXCHANGE – Meaning – Functions – Speculations on the stock exchange eg bull, bear, stag – Securities traded on the stock exchange | At the end of the lesson, students should be able to: i. trace the history of Nigerian Capital Market ii. define Stock Exchange market iii. identify and describe speculators on the stock exchange market iv. differentiate various types of securities traded on the stock exchange v. distinguish between primary and secondary markets |
| 4 | SECOND TIER SECURITIES MARKET – Meaning – Requirements for listing on the market – Advantages and disadvantages of second tier securities market | At the end of the lesson, students should be able to: i. define second tier securities market ii. state the requirements for listing on the second tier securities market iii. discuss the advantages and disadvantages of second tier securities market |
| 5 | CAPITAL – Meaning – Accountant view of capital – Economist view of capital – Layman’s understanding of capital – Types of capital | At the end of the lesson, students should be able to: i. differentiate between accountant and economist view of capital ii. describe the various types of capital |
| 6 | CAPITAL II – Importance of working capital – Meaning of profit – Accountant and economist view of profit | At the end of the lesson, students should be able to: i. describe the importance of the working capital ii. solve mathematical questions on working capital iii. differentiate between accountant and economist view of profit iv. differentiate between net profit and gross profit v. solve questions on gross profit and net profit |
| 7 | MID-TERM BREAK | |
| 8 | TURNOVER – Meaning of turnover – Factors affecting turnover of a business – Difference between turn over and rate of turn over | At the end of the lesson, students should be able to: i. define turnover of a business ii. distinguish between turnover and rate of turnover of a business iii. solve questions on turnover of a business |
| 9 | COMMUNICATION – Meaning of communication – Types of communication – Nigerian traditional means of communication eg drum, guns, etc – Satellite | At the end of the lesson, students should be able to: i. define communication ii. explain various types of communication iii. describe the importance of communication iv. relate the various traditional means of communication the modern means v. explain the term satellite and state it’s functions |
| 10 | COMMUNICATION II – Communication service rendered by post-office – Meaning of courier services – Functions of courier services – Comparison of courier service with the Nigerian postal service | At the end of the lesson, students should be able to: i. state and discuss the various postal and payment services rendered by NIPOST ii. describe courier services iii. discuss the functions of courier services iv. compare and contrast courier services and public postal service |
| 11 | REVISION | |
| 12 | EXAMINATION | |
The recommended Commerce textbooks for SSS2 include but are not limited to the following:
