f 02/16/15 ~ EDU-MADE-EASY BLOG

Education is an ornament in prosperity and a refuge in adversity.

It is as impossible to withhold education from the receptive mind as it is impossible to force it upon the unreasoning. - Agnes Repplierg

Education aims to give you a boost up the ladder of knowledge.

Educating the mind without educating the heart is no education at all. - Aristotle

He who opens a school door, closes a prison.

If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest. - Ben Franklin

To the uneducated, an A is just three sticks.

To teach a man how he may learn to grow independently, and for himself, is perhaps the greatest service that one man can do another.

If you think education is expensive, try ignorance.

Education is what remains after one has forgotten what one has learned in school.

COMMERCE 101

10:21 am  ,  No comments

OCCUPATION

Hey Guys, Happy New Week. Okay this past Saturday was VALENTINE'S DAY. So this is Edu-Made-Easy Blog Crew wishing you a Happy Belated Valentine's Day....

LOLZ, So back to business. We ended our Commerce 101 Session last week with some WAEC {West Africa Examination Council} Questions which are repeated below along with the correct answers to them. These Questions are to help Simplify the process of Understanding and Learning this Topic, so we should take them very seriously Guyz....
SOME QUESTIONS:
1. Production ends when Goods? (WAEC 1989)
ANSWER: And Services reach the Final User.
2. If a Business Man imports stock fish with a view to exporting them to other countries, this form of trade is known as? (WAEC 1989)
ANSWER: Entre-port Trade.
3. Buying and Selling of Goods and Services within the Geographical Areas of a Country is called? (WAEC 1989)
ANSWER: Domestic Trade.
4. Are Warehouses established to avoid changes in prices from resulting in shortage? True/False (WAEC 1989)
ANSWER: True.
5. Is the Retailer the Last Link in the Chain of Distribution? Yes/No ( WAEC 1989)
ANSWER: No.
So on to the Topic of the Day, we are rounding up our previous topic and beginning a New one.
FACTORS AFFECTING THE GROWTH OF COMMERCE IN WEST AFRICA
1. Lack of Sufficient Capital- Like this is very relatable, without Money Business can't be and when Business can't be then Commerce is DEAD. so for Commerce to be Alive then Business has to be Alive, and for Business to be Alive Money otherwise called Capital has to be on ground. Most times also the Capital can be Materials and Machineries which can also be lacking and this is not good for Commercial Activities.
2. LOW LEVEL OF EDUCATION- This can also affect Commerce because ignorance of a Business person about the industry his involved in might limit his activities and slow down Commerce. For example, If a Farmer is ignorant of the Modern Equipments and Techniques in Agriculture, then he would be grounded and so will the commercial activities in his environment.
3. CONSTANT CHANGE OF GOVERNMENT- This is a factor that is not too considered but the truth is with the change of governments laws change, new laws are enforced and some businesses are favoured in one Regime more than the other and this can make Business(es) suffer and in turn Commerce suffers.
4. LACK OF WELL-DEVELOPED AIDS TO TRADE- This has to do with the Country's General Development in terms of- Banking, Transportation, Communication etc and most of it has to do with Enabling Laws being made available in the Country and the absence of these 'Enabling Laws' can affect Commerce deeply.
OCCUPATION
This is any Economic/ Productive Activity which people engage in, to create/ procure goods and services in order to make a living. For example- Teaching, Buying and Selling etc.
CLASSIFICATION OF OCCUPATION:
* Industry
* Commerce
* Services
1. INDUSTRY
These are all the activities that concerns with the physical production of goods. here, people engaged in extracting raw materials from sea or soil and change them into finished goods.
TYPES OF INDUSTRIAL OCCUPATION:
# Extractive Industrial Occupation- This involves the getting of the raw materials that when processed is turned into finished goods, that gets to the final consumers. This is making available the raw materials to be used for production and can also be referred to as the PRIMARY STAGE OF PRODUCTION. This includes activities like- Farming, Mining, Forestry etc. As said earlier it involves getting materials from the sea or soil.
# Manufacturing Industrial Occupation- This involves processing and turning of Raw Materials into Finished Goods, like I humorously say 'This is where the MAGIC Happens' lolz. This involves taking the Raw Materials gotten from the Primary Stage of Production and turning them into Finished Goods that can be Distributed to the Final Consumers, and this activities include- Plastic Making, Shoe Making, Textile Making etc.
This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and of your questions below. Have a Blessed Day and Remember You are Amazing. God Bless.


 

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