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.
