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.
- 12:49 “four medias of advertising, list and explain consumer protection in advertising. Now, we have come to the end of this class. Thank you for watching. I remain your comments teacher, Miss Lydia.”
- 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...”
- 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...”
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.
- 21:52 “and also for keeping against damages or rain or natural disasters. When you go through their cart log and you pick what you want, then they go to their show and bring it out for the customer. It is like a garage designed...”
- 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...”
- 09:26 “For example, you go to a machine, you find a product that is cheaper than the one you find in terms of your show market. So it increases competition among traders. Secondly, lower prices. Like we have learned in previous...”
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.
- 06:02 “in bulk and keeping them in the warehouse he bears risk because if the price falls down as at the time those such goods are still in the warehouse he's the one that will be at the risk of reduction in prices. Branding an...”
- 09:16 “And in this case, it ensures that there is a smooth flow of information between the retailer and the producer. Now the retailer. Who is a retailer? A retailer may be defined as a trader who buys goods in small quantities...”
- 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...”
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...”
- 00:56 “to have detailed information about the price of a good. The quality of the goods, potency, standard of the products, quantity, and purity of the good or services rendered to the consumer. So the consumer has a right to u...”
- 11:06 “for us. What are examples of consumerism? It is an enabling hack that improves the customer's service. So acquiring products and obsession of shopping. Some consumers just like buying things. They just want to go shoppin...”
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.
- 06:11 “Now, take, for example, one of such goods, take, for example, cocaine or hadrocks, let's say, hadrocks is not allowed in any country, it's contraband good. So, when it is brought into the country, it is not healthy for a...”
- 21:46 “Then we have complicated process of backward technology can reduce the story of goods by some producers. Now, for very, very advanced warehouses, they put backwards on each item that is brought into the warehouse. The ba...”
- 05:24 “These goods kept in the state warehouse if they can be consumed by the general public, the government's auctions then that is sells them to a bidding price. So, the public is usually done in public setting that is, okay,...”
Types of Office Documents
The lesson explains the term 'office document' and identifies different types of office documents. It covers sales documents, their examples, and their uses, as well as purchase documents.
- 14:37 “of doing business. So, legal protection for the seller and also for the buyer. In some cases, as an example, a buyer purchases a product and pays for the product. But banking systems may have error and in this case, the...”
- 08:09 “for the buyer to initiate this process and for this deal to be sealed. So, the buyer has initiated interest in a particular good from the manufacturer or the seller or even a retailer. Sometimes, even the buyer buys good...”
- 09:51 “purchases a good or product online? There has to be a shipping order. In the sense that E or she receives an invoice coming along with the products that E or she have purchased online, billing and cancellation. Some cust...”
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.
- 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...”
- 11:44 “business are being reduced. We also have the transport services fed of production on environment or society. Let us see, you can equally say the importance of production in our society. One is this, it provides employmen...”
- 05:09 “It concerns with rendering of services. This one is aspect of services, potentially a stage of production involved distributing those goods to the final consumer. The people involved in this production, stage of producti...”
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.
- 22:01 “The third part is this discount. In a home, you can give discount. It's the reduction in the market price of an item. So that the customer pays less than the normal price for the item. Trade does often give the discount...”
- 29:47 “That's it. What's the commission an? The commission an? That is the commission that the salesman an? The commission an? So, commission an is what? We have, remember, 60,000 minus 25,000. And the balance gives us what? 35...”
- 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...”
Financial Institutions Overview
This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.
- 11:50 “of merchant banks in Nigeria today are ABC Merchant Bank, Merchant Banking Corporation, Merchant Bank of Africa, Esthetaria. Now the functions of merchant banks discounting bill of exchange loan to foreign traders that i...”
- 06:38 “require them if they are able to meet their requirements. The agent of payment that they serve as agent of payments for their customers for instance those customers who have current accounts in commercial banks they just...”
- 10:56 “and long term loans. Merchant banks. Merchant banks are financial institutions which perform specialized functions such as acceptance of bills of exchange, issuance of loans for foreign trade transactions, issuance of ne...”
Cleaning Agents and Cosmetics Production
This lesson covers the definition and types of cleaning agents, including commercial and homemade varieties. It also discusses the preparation of homemade cleaning agents and cosmetics, along with safety and regulatory aspects related to cosmetic products.
- 17:00 “We have number one, which is what most people know, which is Navdaq. And it is National Agency for Food and Drugs Administration Control. That is Navdaq. National Agency for Food and Drugs Administration Control. And we...”
- 20:57 “Because different people will be handling the products in the process of distribution. Also, providing necessary measures for quality, control of raw materials and products in conformity with the standard specification....”
- 18:33 “control the importation, exportation, manufacturing, advertisement, distribution, sales and use of food, drugs, cosmetics, medical devices, bottled water, and so on and so on. So it's not only for the cosmetic parts, eve...”
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.
- 03:05 “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...”
- 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...”
- 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...”
Functions of Banks
This lesson covers the functions of the Central Bank of Nigeria, commercial banks, and specialized banks. It explains the types of bank accounts, forms of payment, and the differences between commercial and specialized banks. The origin of the Central Bank of Nigeria is also discussed.
- 02:29 “goldsmiths initially, it was as the goldsmiths doing the merchants a favor. But in this stage of development of the banking system, when the merchants were now being induced with interest that is keep your money with us...”
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.
- 01:01 “However, when you produce an item and then you sell that item, you will realize money. Is that so? Now, the total amount you have realized when you sell a commodity you have produced, that total amount realized is what w...”
- 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...”
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.
- 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...”
- 04:01 “crude oil exploration and mining of other mineral resources such as coal, iron ore, granite, tin, limestone, et cetera. Now, the secondary sector, the secondary sector, consists of all the manufacturing industries. That...”
- 19:34 “My name is Mr. Balogum Abdullah, till the next class. [MUSIC]”