COMMERCE 101

LARGE SCALE RETAILING

Hey Guys, Happy New Week. The Last in the month of March. This month is soon over, well 2015 has been a FAST year wouldn't you say? Well All to the Glory of God. How was your weekend, mine was splendid. Alright, straight to Business...

Large Scale Retailing is a trading with a large scope of operation. Everything is on a bigger scale unlike Small Scale Retailing. Buying is on a Large Scale, Selling is also on a Large Scale. They include:

1. CHAIN/MULTIPLE STORES

It is a form of Large Scale Retail Trading whereby the Store has similar and identical designs, layout and product display in all its outlets/branches. For example in Nigeria, we have UTC Store, Leventis store etc.

FEATURES OF CHAIN STORE:

a. They Sell Similar Range of Products.

b. They are found in Towns and Urban Areas.

c. They have Identical Store Designs.

d. They have similar stock display.

ADVANTAGES OF CHAIN STORE:

a. They ensure Consistence of their Product.

b. They buy in bulk, which ensures Lower Price.

c. Their Customers can easily locate their store anywhere.

DISADVANTAGES OF CHAIN STORE:

a. They don't facilitate Credit Transaction.

b. Decision-Making are always delayed.

c. No Personal Relationship between the shop attendant and customer.

2. DEPARTMENTAL STORES

It is a Large Retailing Store that operates under one roof which deal with a wide variety of goods but organised in different sections (departments) for the purpose of service, promotion and control.

Each Department Specialise in one line of product. For example- Kingsway Stores etc.

FEATURES OF DEPARTMENTAL STORES:

a. Each Department has its own Manager.

b. Each Department deals in one line of Product.

ADVANTAGES OF DEPARTMENTAL STORES:

a. It allows freedom of Movement around the Store.

b. It ensures bulky purchases of Goods which helps in Price Reduction.

DISADVANTAGES OF DEPARTMENTAL STORES:

a. It requires Large Capital to set up.

3. SUPERMARKET

It is a Large Retailing Business Unit that deals mostly on Food, Household Items and other wide variety of goods. It operates a Self-Service System with Basket and Trolleys left for Customers to help themselves to their needs.

ADVANTAGES OF SUPERMARKET:

a. It Provides Wide Variety of Goods.

b. Customers have the right to make choices without being influenced by shop attendants.

c. It ensures Self-Services.

DISADVANTAGES OF SUPERMARKET:

a. No Personal Attention is given to Customers.

4. MAIL ORDER

It is a large Retailing Business in which buying and selling is carried out by post. The customers are contacted by mail, their orders are received by mail, and the delivery is by mail. It involves the use of catalogue that presents the goods and price. Payment is through Cash Delivering Basis.

New Trends have been introduced in retailing business because of the dynamic nature of commercial activities. In order to enhance and facilitate business activities;  New ideas and Techniques have been introduced.

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 You.

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COMMERCE 101

CLASSIFICATION OF RETAIL TRADE

Happy Monday Everyone, we are here again, wow March has been nice. Hasn't it ? Hope you have enjoyed March so far, anyway we are continuing on the topic we started Last week, pls Enjoy!!!

                                             

                                             RETAIL TRADE

         

      SMALL SCALE TRADE                    LARGE SCALE TRADE

       

         - HAWKING                                           - CHAIN STORE

         - MOBILE SHOP                                    - DEPARTMENTAL

         - TRADING                                           - SUPERMARKET   

         - MARKET TRADE                               - DISCOUNT HOUSE

         - STREET/ ROAD                                  - VARIETY STORES

         - STORES (URBAN & RURAL)           - HYPER MARKET

                                                                        - RETAIL COOPERATIVE.

                    METHOD OF CLASSIFICATION OF RETAIL STORE

1.     Type of Good offered for Sale.

2.     By Location for example Rural or Urban Areas.

3.     By Ownership for example Independent or Cooperative.

4.     Number of Employee’s.

5.     By the Size of Employee’s.

SMALL SCALE TRADE

As the name implies, it involves types of trading that are small in nature. For example:

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COMMERCE 101

INTER-RELATIONSHIP AMONG PRODUCTION, SPECIALIZATION & EXCHANGE

      Happy New Week Everyone, This is a Beautiful Week and Thank God we are Alive. Let's Get Started!!!.

       Exchange is as a result of Specialization and Production. They are related in the sense that Production is enhanced by the broken down processes that are performed by different people. Division of Labor and Specialization creates room for Mass Production.

Since individuals are not capable of producing all his requirements, the need for exchange arises.

                          HISTORY OF DIVISION OF LABOR

One of the Forefathers of Economics, Adam Smith who further explained the Theory of Division of Labor in 1776, in his book “The Wealth of Nations.” Adam Smith visited a place where Pins were made and found out that Pin-Making involved eighteen different processes at that time.

He also found out that one man was coordinating all the processes of Pin-Making alone; as a result of this rigorous and slow process he was producing 20 pins per day. Adam Smith came to a conclusion that if these Eighteen Pin-Making Processes were handled by different people, more pins will be produced.

      The idea of Division of Labor thought out by Smith was applied as a result, 48,000 Pins were

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COMMERCE 101

QUESTIONS ON PREVIOUSLY TREATED TOPICS

Hey Guyz, Happy Mid-week. This post is coming late cos of some issues but it is here now and that is what matters. Hope last week was a blast for you cos it was amazing for me. To God Alone be All the Glory, Jesus is Lord. We are treating questions on all the Topics we have treated just to warm us up and warm up our memory, and to really determine our understanding level of those Topics, lolz. So let's get Started.

1. Which of the following is not true of Commerce?

a. It is part of production

b. It is the life blood of a nation's economic activities

c. Commercial Activities begin after the goods are produced

d. It has nothing to do with goods and services (WAEC 1994).

2. Which of the following is not a Factor of Production?

a. Profit

b. Entrepreneur

c. Capital

d. Land (WAEC 1994).

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COMMERCE 101

           DIVISION OF LABOUR

Hey Guyz, Happy Monday. It's a new Month, MARCH is here. 2015 is really fast, don't you think? Well am just glad we all made it, so many pple have already lost their lives and we aren't better than them at all, God is just Faithful always. So today we are on a New Topic, New Month New Topic. So Let's get started!

Division of Labour is the co-operative specialization of labour. It dates back to as early as the start of civilization and was practiced by the Sumerians to group different jobs according to various skills of the members of the society. Division of Labour is historically associated with increased growth in total output and is viewed as the rise of Capitalism. It also helps to solve some of the complex industrialization processes. Division of Labour as explained by Adam Smith can be restricted based on the market extent. Adam has suggested that the bigger the market the higher the specialization. It can then be said that the Global market that we are currently enjoying has resulted to so much specialization. The conditions for Specialization to thrive on the global market are a free trade, free mobility and migration of labour. In Simplified Form, Division of Labour is the breaking down of production processes into smaller and separate units which allow for multiple small performances by different individuals and also machines. For Example, When Machine A mixes the batter and

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COMMERCE 101

       TYPES OF INDUSTRIAL OCCUPATION

Hey Guyz, Happy New Week, this is the last week in the month of February 2015, so congrats for making it. God Loves You. So today we are focusing on the continuation of what we did last week. Let's get started.

# Constructive Industrial Occupation- This involves assembling of different parts together to get one product. It may be an Automobile or a Bridge or even a shoe. It deals with bring different parts together to form one thing.

2. SERVICE

This has to do with providing anything that is not a good or product. it many times is intangible. Services like Telecommunication, Teaching, Barbing, Manicure, Pedicure etc. These are services.

TYPES OF SERVICE OCCUPATIONS:

# Direct Services- These are personal services rendered directly to the clients. Services like Barbing, Manicure, Pedicure etc. These are services that deal with personal contact.

# Indirect Services- These has to do with services that are not rendered directly or personally. For example, The activities of the Civil Servants, The activities of the Custom Officers etc.

3. COMMERCE

This is a process of Buying, Selling and Distribution of Goods and Services. It involves the combination of all occupations that are grouped under Trade and Aids-to-Trade.

This is the end of the Topic we began last week and the beginning of a new topic. Pls Enjoy!

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COMMERCE 101

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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COMMERCE 101

                          DIVISION OF TRADE

Hey Guyz, We are Back with the continuation of the Topic we started last week. Hope your weekend was splendid cos mine was... Well let's get right to business.

1. HOME TRADE

We defined it in our last session and it is divided into: a.) Wholesale b.) Retail.

a. WHOLESALE TRADE- It is the buying of goods in large quantity from Producers and selling of goods in large quantity to Retailers. For Example, A Huge Store Like Next In Abuja Nigeria buys in large quantity from the companies that produce these goods in order to sell to their customers in large quantity which can be smaller supermarkets or stores.

b. RETAIL TRADE- It is the buying of goods in small quantity from Wholesalers and selling of goods in smaller quantity to consumers and customers. For Example, When Small Stores buy in smallquantities and sell in smaller quantities to you, like where you go to buy a pack of sugar is a Retail Store because they sell in small quantity to you.

2. INTERNATIONAL TRADE

We defined it in our last session and it has 2 types, which are: a.) Bilateral b.) Multilateral.

a. BILATERAL TRADE- It is a trading between two countries. Like when We in Nigeria buy goods online from other countries like the UK, USA etc.

b. MULTILATERAL TRADE- It is a trading between more than two countries. Like a Trade between Nigeria, Ghana & Kenya.

It is however divided into three, namely:

i. IMPORT- It is the act of bring in (buying) goods and services from other countries into your country of residence. That is receiving Goods and Services from a different Border or geographical Location.

ii. EXPORT- It is the act taking goods & services to other countries from your own country. It is selling goods and services to other countries from your country for the purpose of increasing your brand popularity.

iii. ENTRE-PORT- It is the act of buying goods & services from one country to re-sell to other countries. It is double-way.

AIDS-TO-TRADE

1. BANKING- They are there to provide funds in form of loan and overdraft to individuals and companies to promote their businesses and industries. They indeed help Trade move in accelerated form and also enable employment to be provided to more people.

2. TRANSPORTATION- This is essential for Businesses that depend heavily on transportation, that is moving of the goods from the Production point to the Distribution point (Market). So the provision of Good and Portable Roads in the communities is very important and this is one of the aids to trade that involves Government's input.

3. ADVERTISING- This is solely the responsibility of the company in question, they have the burden of increasing the awareness of the customers about their goods or services. Be it by Catalog, Free Sample, Trade Fair, Fliers or Tv & Radio.

4. WAREHOUSING- This is also for the company to handle, making provision for the storage of some goods for future purposes is vital to the healthy growth of the company and its revenue and profit. It means you are never without your goods for the purpose of Purchase etc.

5. COMMUNICATION- This is mostly within the company and amongst the employees of the company. It involves sending and receiving information from one place to another through the Internet, Intranet or Telephone etc.

6. INSURANCE- This involves putting up security for the business in case of Loss in order to get restored to former position in such cases. It's very important especially for big budget and capital intensive businesses and companies.

FUNCTIONS OF COMMERCE

1. It helps to develop the Technology in the country and it also provides new ideas for what technology can step in to make better.

2. It provides lots of Employment Opportunities for the masses and it improves people's standard of Living and the Per Capita Income.

3. It contributes to the factors that satisfy the wants of man, it helps get our wants and needs met.

SOME QUESTIONS:

1. Production ends when goods? (WAEC 1989)

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)

3. Buying and selling of goods and services within the geographical areas of a country is called? (WAEC 1989)

4. Are Warehouses established to avoid changes in prices from resulting in shortage? True/False (WAEC 1989)

5. Is the Retailer the Last Link in the Chain of Distribution? Yes/No ( WAEC 1989)

This brings us to the end of today's session, Pls do attempt the questions above, this is one of the changes we have inputted. 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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COMMERCE 101

                     INTRODUCTION TO COMMERCE

Hey Guys, This Year we are going to run by the special Grace of God a three-days per week blogging schedule, where we will upload posts on only three days in the week. This is to ensure that we adequately prepare our posts and give attend to promoting this blog more and to increasing the traffic and page views of this blog per day and week. To all those that kept coming every day, week or month to read what we have posted throughout the year 2014, this is me saying THANK YOU & GOD BLESS YOU ALL.

So back to business, we said in our last post that we will revisit all the topics we treated last year, in order to further break it down and understand it. So today we are starting Commerce 101 again!!!.

             Commerce we said is all about Production, Distribution & Exchange of Goods & Services. In Order words, it concerns all activities that make Trade & Aids-to-Trade possible. Now to add to that definition we are saying that commerce is for instance when a Milk Producing Company like Cowbell (In Nigeria) drills the milk in raw form from the cow and processes it to give us Evaporated ones or Powdered ones, now it is produced and a Mart like Wal-Mart buys it from Cowbell and thenMr. Van buys a sachet of cowbell. This is the process of commerce, we all perform commercial activity everyday knowingly and unknowingly.

        Scopes of Commerce just talks about the branches of commerce and they are just two:

1. Trade

2. Aids-to-Trade

        Trade is buying and selling, giving money and receiving service or good. Meeting the need of the seller (Money) for the seller to meet your (buyer) need (goods/services). It's an interaction of two people or two elements for the purpose of exchange one need for another- goods/services for money or worth or value. It's a Trade-by-Barter Situation only that this time it is more accurate in measure than in an actual Trade-by-Barter. Its paying $45 for a Jimmy Choo Heels or paying $100 to get the Latest Play Station. LOLZ

      Aids-to-Trade are like the catalyst of Trade, the Motivators of Trade, that make Trade possible and easier. In my Definition I stated that they are the auxiliaries to Trade, they are the Agents that Facilitate and help Trade become a Reality.

     DIVISIONS OF TRADE

1. Home Trade

2. Foreign Trade

     HOME TRADE

It is just basically Trading Activities within a Geographical Location, within the borders of a Country. Trade within the United States of America and Trade within the Federal Republic of Nigeria, these are classified as Home Trade. Going to a Supermarket in your area to buy something like a pack of sugar is Home trade while buying Shoes online from America that would be shipped to you is NOT Home Trade. We also said that another name for Home Trade is LOCAL/ INTERNAL TRADE.

      FOREIGN TRADE

It is basically buying across borders and geographical locations, crossing over physically or online to perform trade. For instance, Buying Clothes in Nigeria from Dubai, UK, USA. It can also be referred to as INTERNATIONAL/ EXTERNAL TRADE.

This is where we will draw the curtains for today, Hope you enjoyed every bit of it and hope to see you in our next tutorial by Next week by the Grace of God. Keep revising and understanding this topic. May God Keep you until we meet again. God Bless You. Pls do leave a comment below....

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COMMERCE 101

CAPITAL.

Hey Guyz, Happy Friday. Thank God it’s Friday Again, God has been Faithful this week, don’t you think. Well today we are back to Econs. 101.

Capital may be defined as man-made assets used in production. In other words, Capital refers to man-made wealth or goods used to produce other goods and services. It may also be defined as the stock of previous wealth invested in order to produce future wealth. Examples of Capital are Physical Cash, Cutlass, Buildings, Machines, semi-finished goods, and other
equipment.

CHARACTERISTICS OF CAPITAL:

1.     Capital is man-made.

2.     Capital is durable.

3.     Capital exists in different forms.

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COMMERCE 101.

MAIN DOCUMENTS USED IN FOREIGN TRADE.

Hey Guyz, Happy Friday to you all. Thank God its Friday feeling is in the air and once again we ought to be grateful to God for the precious gift of Life. THANK YOU JESUS. Let’s get started.

There are various documents which facilitate International Trade and they include the following:

1.     CERTIFICATE OF ORIGIN

This is a document that shows where goods come from or where it is manufactured. This document also enables the custom and excise authorities to determine the duties, the importer should pay on the goods because it attracts preferential duties. It must be signed by custom officers in the exporting countries.

2.     AIRWAY BILL

It is used when goods are been transported by air. It shows the name of the consignor/exporter, airport of loading, destination. It also shows the nature, weight, value of goods and the fright charged.

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COMMERCE 101.

    BALANCE OF PAYMENT AND BALANCE OF TRADE.

Hey Guyz, Happy Monday. How was the weekend, mine was cute, hope yours was lovely? Any way this is a new week and a new day to live, learn and have fun. So let’s get started.

Balance of Trade is the relationship between the values of a country’s import and export of visible items within a particular period of time.

If Visible Exports are more than Visible Imports, the Balance of Trade is said to be favorable. On the other hand, if the Visible Import exceeds the Visible Exports, the country is said to have unfavorable Balance of Trade.

Balance of Payment is a statement/record showing the relation between a country’s total payment to other countries and its total receipt from other countries in a year. In other words, it is the comparison of the sum total of a country’s receipt from export and the total payment made for import. Balance of Payment of a country shows the yearly statement of income and expenditure from visible and invisible export, and visible and invisible import respectively.

A Country’s Balance of Payment can be divided into three parts:

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COMMERCE 101

                         DIVISION OF FOREIGN TRADE.

Hey Guyz, what’s happening? How are you all doing, hope great? It’s a beautiful day to live, learn and be merry. Today we are continuing our commerce 101 series.

International Trade can be divided into:

a.     Export.

b.     Import.

c.      Enter-port.

IMPORT.

This is the act of buying goods and services from other countries. It is sometimes restricted to control the country’s Balance of Payment.

It can be divided into:

VISIBLE IMPORT- Consists of goods that can be seen and touched ( i.e. Tangible Goods), that are bought from other countries. For example, The Tangible Visible Imports of Nigeria are Automobiles, Machineries, Electronics etc.

INVISIBLE IMPORT- Consists of services that cannot be seen or touched, which are bought from other countries. For example, Banking.

BARRIERS OF INTERNATIONAL TRADE.

1.     Language Problem- Two countries that speak and understand the same language can trade easily. For example, Nigeria trading with America. While it will be difficult

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COMMERCE 101.

                                       FOREIGN TRADE.

Hey Guyz, It’s a Beautiful Tuesday- isn't it? How was your day yesterday and your rest yesterday, hope it was peaceful and lovely? I Pray in the name of Jesus that he grants you peaceful rest in all areas of your life- Amen. Now to the matter, we are back with Commerce 101 and we are focusing on the above named topic today, so let’s have fun.

Foreign Trade is the exchange of goods and services between two or more countries. It is when two countries have trading ties and commercial relationship of import and export. In other words, it is referred to as International Trade or External Trade. When Nigeria buys Automobile Cars from Germany, Foreign Trade has taken place.

MAJOR TYPES OF FOREIGN TRADE.

There are two main types of Foreign Trade, and they are:

1.     Bilateral Trade.

2.     Multilateral Trade.

BILATERAL TRADE.

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COMMERCE 101.

                                     WAREHOUSING.

Hey Guyz, Sorry for the late posting. Sch and all kept me busy today; anyway we are here now-Praise God. It’s a new day to be glad and to jump for joy because God found us worthy to be alive and well, and ready to learn something new, so let’s get started.

Warehousing is the act of storing goods produced/ bought in a place until they are needed. It ensures that there is a regular and steady supply of goods.

In other words, it’s a place where goods are stored until they are demanded by customers.

Below are the External and Internal Pictures of a Warehouse.

TYPES OF WAREHOUSES.

1.     Bonded Warehouse- It is a place where goods whose customs duties have don’t been paid are kept, until the duties are settled. It is usually located around the seaport. In other words, goods brought (Imported) from other countries whose fee called custom duties have not been paid, are kept in this warehouse until the owners pay up.

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COMMERCE 101.

        TYPES OF WHOLESALERS.

Hey Guyz, It’s a Happy Tuesday to be Alive, Live, Learn and have Fun. I don’t know about you but I am glad to be alive and be well. I pray we are able to appreciate life more because there are sooooo many people who would do anything to have the Peace and life that we have. So be Grateful.

Today we are continuing from where we stopped in commerce 101, with the above topic.

Wholesalers can be classified into two board categories, namely:

1.     Merchant Wholesalers.

2.     Agent Middle Men.

MERCHANT WHOLESALERS

They buy and resell goods on their own account taking title to the product they handle, and convey the title directly to those they deal with.

The merchant Wholesalers are the middlemen who take little to goods (purchase) and sell them to retailers for further selling individual consumers on piece meal basis. They purchase the commodities in bulk, operate warehouse for storage, offer credit and goods to the retailers. They also sometimes offer advice to the market retailers as well as producers. They are also persons who buy and sell goods with their own account and the

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COMMERCE 101.

                      WHOLESALE TRADE.

Hey Guys, Happy Friday. It’s a New Day to learn and have FUN doing so. Let’s get straight to the point at hand.

Wholesaling is a business activity which involves buying of goods and services from the producer in bulk, and selling in small quantities to the retailers and other merchants.  In other words, A Wholesaler is a trader who buys goods in large quantity and sells in small quantity to retailers.

FUNCTIONS OF THE WHOLESALER TO THE PRODUCER:

1.      The Wholesaler purchases goods in large quantities and sell in small quantity to the retailer.

2.     He makes spaces available for further production by buying and clearing the goods from the producer’s warehouse and storing them in his own warehouse (This is especially when the Producer has limited space in his warehouse).

3.     He makes money available to the manufacturer by buying goods and paying promptly.

4.     He keeps the manufacturer informed about the market situation from information he gathered from retailers and consumers.

5.     He relieves the manufacturer from the problem of transportation and distribution of goods.

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COMMERCE 101.

               MODERN TREND IN RETAILING.

Hey Guys, it’s a lovely Thursday, a new day to Learn and have Fun. So let’s get started on our Topic for today.

New Trends have been introduced in Retailing Business because of the dynamic nature of commercial activities. In order to enhance and facilitate business activities, new ideas and Techniques have been introduced. These include: Branding, Self-Service, After-Service, Vending Machine & Repackaging.

1.     BRANDING- It is a Name, Term, Sign, Symbol, or Design or the combination of all of them that an Organization uses to distinguish its goods from that of other organizations. It is used to prevent product Adulteration.

  Advantages of Branding:

a.     It ensures High Quality Goods.

b.     It Prevents Product Adulteration.

c.      It saves the cost of Advertising.

d.     Branded Goods are easily recognized.

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COMMERCE 101.

 LARGE SCALE RETAILING.

Hey Guys, It’s been long I know, and I missed you loads….   Anyways, I had to work on balancing my education with this my passion to help people educationally on this blog. So by Gods Grace it’s sorted out and I will be around more often.

So today we are discussing the above mentioned Topic, so let’s relax, learn and have FUN. 

Large Scale Retailing is a system of trading with large scope of operation. As the name implies it involves trading that is large in nature. It exists in the following:

1.     CHAIN/ MULTIPLE STORE- It is a large retail store that has the same or identical store designs, layout and stock display. It has branches which is scattered all over the country while the Head office supplies the goods to the outlet. For example- Leventis Store, UTC Store, ShopRite etc.

Features of Chain Stores:

a.     They Sell Similar Range of Goods.

b.     They are found in Towns and Urban Area.

c.      They Have Identical Store Designs.

d.     They have similar Stock display.

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COMMERCE 101.

        REVISION OF ALL TOPICS IN COMMERCE 101.

Hey Guys, Today we begin with a recap of all we have ever discussed in COMMERCE 101. Just to remind ourselves and to be sure we understood them well.

So we begin with INTRODUCTION TO COMMERCE. Here we defined Commerce as all that concerns Production, Distribution, Exchange of Goods & Services, and the activities that makes trade possible. In other words, we defined commerce as an activity that deals with Trade and the Aids-to-Trade.

SCOPES OF COMMERCE, we said are divided into 2: Trade & Aids-to-Trade.

TRADE is the buying and selling of goods and services and can be divided into 2: Home Trade & Foreign Trade.

Home Trade is the buying and selling of goods and services that takes place within a country, and is divided into: Wholesale & Retail Trade.

Foreign Trade is the buying and selling of goods and services between two or more countries. Under it we have- Bilateral Trade and Multilateral Trade.

Remember we defined Wholesale Trade as the trading that involves the exchange of

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