Public Enterprises
This lesson covers the definition of public enterprises and their types. It explains how they are formed, the sources of their capital, and the reasons for government ownership. The advantages and disadvantages of public enterprises are also discussed.
- 07:20 “revenue. Now this revenue is plunged back into the business, that is it is put back into the business to grow the business. Now the fact that it's like I said the fact that it's not the main aim to make profit doesn't me...”
- 13:39 “to ensure the success of such corporations in the interest of the public. You know when private organizations exist, when private organizations exist in the particular industry when they usually have competitors and a lo...”
- 06:31 “business on a large scale. To place these businesses on a large scale house, there is need to get capital from other sources. Now let's discuss these other sources. Now we have the internally generated revenue. Now this...”
Types of Production
This lesson defines production and explains its types, including primary, secondary, and tertiary production. It also discusses the extraction of raw materials and the transformation into finished goods.
- 17:35 “machinery, equipment. All these things are being included as capital. Then we have reward for capital as interest. The reward for capital is world interest. Right, we have the entrepreneur. The entrepreneur is the owner...”
- 10:57 “to get those goods to be consumers are either by air, by water or by road, okay? And before those goods will be able to get to the consumer, it may be stored in our warehouse, okay? Until those goods are being needed. An...”
- 09:16 “services, we can also divide them into three direct services, an environment to have commercial, direct services are those ones who give you direct service and pay for the services given to you. All right? In direct, tho...”
Revenue Types
This lesson defines revenue and explains its three main types: total revenue, average revenue, and marginal revenue. It covers how to calculate each type and their relationships to production and sales.
- 16:19 “Here is 24, here is 24. What do we call that? Whenever your TR is equals to your TC, what do you call that? In economics, whenever TR is equal to TC, that is all called brick-even points. What happens at brick-even point...”
- 05:10 “So, let's get the words, the solution to these words, so this interesting question won't have to the other. Look at the board, here you have what, P is on the wall, it's first on the CR, remember the formula I give to us...”
- 20:42 “So this is what you need to know in the rest of the world. This is where I'm going to stop my class. But before then, I need to give you an assignment in the rest of the world of that. So you go to the 1998 question in m...”
Types of Warehouses
The lesson covers the definition of warehousing and its role in storing goods. It explains different types of warehouses, including bounded warehouses, and discusses their functions and importance in business. The advantages and disadvantages of warehousing are also listed.
- 08:34 “And he comes to Mr. B's storage facility, which is the warehouse, and pays a sum of money for a period of time to store his items. So, that is how the public warehouse operates. Now, we have the manufacturers' warehouse....”
- 07:46 “So, people who are financially capable, when people who are financially buoyant enough to build warehouses, they build warehouses for people to come and store their goods in them. And then, in turn, they pay a service ch...”
- 25:10 “So, I'd like you to explain this in your own words and according to your own terms. Thank you for watching. My name is Miss Lydia. Till next time. (upbeat music)”
Meaning and Types of Trade
The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.
- 21:04 “They have to have a warehouse where they will store all these goods. Because there is no market that will take content everything at once. So it is an act of storing products or goods for distribution purposes, owned bas...”
- 11:48 “What are the aids to trade? We have different aids to trade. What are the ways where trades can be easy and where traders can facilitate and make life more better for them? One, banking. We will see these in details in o...”
- 17:14 “We just need to hear it from the advertisers, the information regarding the particular products. Communication, it is a trade. It is the transfer of effective information from the sender to the recipient. Who is the send...”
Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 15:00 “Now, a loan is an amount of money you borrow. When you borrow money, they call it a loan. Boy, that you most normally pay back with interest. You pay back a loan. You take a loan. You take a loan from your bank. You take...”
- 00:00 “Hello, my name is Oyase. Sunday. I will be taking you mathematics JSS2 class. We're looking at an interesting topic for today. The topic is transaction in the home and offices. Transaction in the home and offices, we're...”
- 10:59 “That's P. So, either the formula you apply depends on what the question is actually to look for. Pick up the first question, question number two. Esella buys 20 pair of women's sneakers from manufacturer, 20 pair, 10-min...”
Channels of Distribution
This lesson covers the channels through which goods move from producers to consumers. It explains the roles of wholesalers and retailers, the functions of cooperative societies and government agencies in distribution, and identifies problems in distribution along with possible improvements.
- 04:24 “keeping those goods and he gives them out as they are being demanded. That is called warehousing. That is, the practice of storing large amounts of goods in a warehouse or in a large store. Advertisements. He helps in ad...”
- 10:56 “when they don't have money to pay immediately, for payments to be made later. He talks variety of goods. That is, it makes a valuable variety of goods to the consumers. He supplies information to the whole seller and man...”
- 17:28 “the problem, the solutions to the problems of distribution of goods in Nigeria. The ways by which effective distribution can be improved is given as follows. Establishment of more marketplaces. Encouragement of cooperati...”
Advertising in Commerce
This lesson covers the meaning of advertising and its role in business. It explains different types of advertising, the methods used, and the various media involved. The lesson also discusses consumer protection against misleading advertisements.
- 00:00 “Hello, good day, my name is Ms. Lydia and welcome to our Commerce Class today. Today we will be treating topic advertising and at the end of this class, I expect you to be able to state the meaning of advertising, discus...”
- 11:13 “Then we have an establishment of a professional group like we discussed in the previous slide. The AAPN was established in Nigeria, they are a professional body. So, they were established in Nigeria to regulate the pract...”
- 08:02 “tell you what it is used for, the features, the benefits and advantages of using such products and how to use it as well. Then it increases sales which in turn leads to higher profits. Because many more people have gotte...”
Types of Occupations
The lesson covers the definition of occupation and the various types of occupations. It explains industrial, commercial, and service occupations, along with examples of each type.
- 03:51 “Banking, at least you've seen different types of banks. We have access bank, we have GTV and the rest. And advertising. The regular advertisements you see on your TV. So they help you. They help you want that particular...”
- 03:05 “I can tell you that they are all the constructive workers you see. When you see people making the road, doing the road all over again for you or maintaining the road, even the house building, the bricklayers you see all...”
- 00:47 “The regular things you see out there, the biscuits you see out there, the chocolates you see out there, the cakes you see out there, those are goods. Services are what you experience when you go to the bank in order to e...”
Structure of the Nigerian Economy
This lesson covers the nature and structure of the Nigerian economy. It explains the primary, secondary, and tertiary sectors and their contributions to the economy. The lesson also discusses the economic activities in different geopolitical zones of Nigeria.
- 19:34 “My name is Mr. Balogum Abdullah, till the next class. [MUSIC]”
- 05:37 “So it means that the tertiary sector are majorly involved in rendering of services. They do not produce manufactured goods. What they do is that they render services, either rendered services in the process of distributi...”
- 02:27 “That is, some parts of the businesses are owned and controlled by private individuals, which is capitalism, while other parts of the businesses and economic activities are owned and controlled by the government, which is...”
Factors of Production
The lesson covers the concept of production and its types. It explains the factors of production, division of labor, and specialization. The advantages and disadvantages of division of labor and large scale production are also discussed.
- 00:49 “services to the final consumers for the satisfaction of human wants. Simply put, economic activities that lead to the production of goods and services that satisfy human wants. Now one critical thing to note is that okay...”
- 01:36 “haircuts, your legal advice, your medical services and all of that, things that we can't see that are rendered towards those are services. It is important to note that production is only complete when the goods or servic...”
- 33:30 “goods that is internal economies. The things that happen on the inside that brings about, what would I call it now, a shortfall to that internal, these economies. The things that happen on the outside that brings about g...”
Basic Economic Problems
This lesson covers the basic economic problems faced by society, including scarcity and resource allocation. It explains different economic systems such as capitalism, socialism, and mixed economy, and how they address these problems. The role of market forces in regulating the economy is also discu
- 31:54 “want to produce the resources for the people, the government can decide that this section of the economy needs this intervention and so the government is going to invest resources into producing the goods or the service...”
- 05:41 “capitalism encourages hard work provision of alternative choice. So we said there are a lot of players in the system because there's freedom of entry. So there are a lot of alternative products or service available to th...”
- 30:23 “what the production is going to or how the production has been designed. We have industries that have templates or how to go about producing their products. So that template or that's the way the production takes place w...”
Consumer Rights and Protection
The lesson covers the definition of consumer rights and the importance of detailed information about products. It explains the origin of consumerism and lists the eight universal consumer rights. The lesson also discusses unfair market practices and the role of consumer protection.
- 03:59 “But the seller would be like, "I haven't sold anything for two weeks." So this is my market. I have to sell it. So a consumer has the right to be protected against all of this. And sellers have been taking advantage late...”