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.
- 08:52 “ownership of public corporations is because the capital needed to establish these organizations is so huge it's a lot such that in the private individuals cannot raise on their own but aside from that there are other rea...”
- 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...”
- 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...”
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.
- 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...”
- 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....”
- 16:42 “Somehow, unfortunately, these occurrences still happen, they still take place. So, it is best that goods stored in warehouse are ensured that is in case of loss, in case of damage. The goods that have been damaged, that...”
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.
- 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...”
- 18:26 “So you have your land, you have the label, you have the capital. We need coordinating elements. Those factors of production do not, they can't take initiative. They can't walk by themselves. Someone has to, one element h...”
- 20:05 “element defines what's what amount. So what the roles that every other component of the production process is going to play. The entrepreneurship or entrepreneur defines the roles. He organizes the coordinates. And he's...”
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...”
- 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...”
- 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...”
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.
- 13:30 “With industrial production, the better for the manufacturer of these products, imagine you sell bags, and then so much demand, I demand of school bags. If the manufacturer does not have access to raw materials of this la...”
- 15:55 “into the sea, it pollutes the river. And this water helps kills all the fishes or the ecological bin. In this case, the fishing industry would not even make any profit. People who live on this ecological bin cannot even...”
- 10:18 “Just go to the shelf and you see orange and apple juice. And then you look very sad, and more than that they are like, why are you looking sad? Oh, I'm looking for grape juice. And they just try their best to take you to...”
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.
- 10:09 “house health, still work actors, house health, still work and so on and so forth. We also have people like the judges, the educationists, ambassadors, soldiers, policemen and so on and so forth. Right? We also have peopl...”
- 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...”
- 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...”
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
- 08:51 “is certainly going to be different from what the other person can gain. So there's a lot of inequality in the capitalist system. Next, we say it leads to unhealthy rivalry amongst investors. Now in the capitalist system,...”
- 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...”
- 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...”
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.
- 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...”
- 13:23 “the financial capacity to buy and pay immediately are given goods on credits. They give advice to members also as regards the product and services they wish to go into or deal in. They also bring products closer to membe...”
- 14:14 “By putting their resources together and giving them self, that's financial capacity to be able to go directly to the producers to get goods in large quantities for their members' consumption. They also aid in marketing m...”
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...”
- 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...”
- 22:40 “various industry and whatsoever thing that we are producing in the country because the environment also matters in giving us our products. Some people they will have produced something of good quality in their production...”
Interdependence of Nations
The lesson covers the concept of interdependence among nations and the importance of international interactions. It explains Nigeria's economic, political, and cultural interactions with other countries, as well as the advantages and disadvantages of these interactions.
- 24:59 “They contribute to the interfaith in their domestic affairs. And this makes no sense to the hard-won independence of the country, of the developing states. And the one is inferior or poly-produced groups. Interactions am...”
- 25:45 “like United Nations Organizations, International Monetary Fund, ETC can bring about control of the sovereign of less powerful states as most of these organizations are controlled by big paths. Control of states like all...”
- 16:22 “and domination by other countries, but also protect human race for destruction. Because of these political reasons, that was the reason why many of the international organizations have been formed. Like organizations and...”