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.
- 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...”
- 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...”
- 19:55 “You need information about the services. Take for instance washing machine. You need information about the washing machine. Even the sockets you need to plug. Even the plumbing works. You need detailed information on how...”
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.
- 16:29 “So they are communicating to me that it helps to lower blood pressure. It increases lifespan. So they have communicated to me. What do I need to do? Then I buy. So advertising it's trade. It is also a form of persuasion....”
- 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...”
- 10:17 “You want to look in a particular way and you already have this idea. When you get to the market, you find a specific dress that you like. So it is benefits and added value to the customer. It also decreases monopoly. You...”
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...”
- 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...”
- 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...”
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.
- 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...”
- 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...”
- 12:39 “In offering of their new shares provision of long term loans. That is they give out long term loans and not short term loans. Malignant of major bays. This is a situation whereby two companies say for instance two banks...”
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.
- 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...”
- 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...”
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...”
- 01:36 “Advertising increases and stabilizes sales turnover because as a result of advertising more people are able to know about the product, maybe people are able to hear about the availability of the products in the market so...”
- 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.”
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....”
- 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)”
- 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...”
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.
- 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...”
- 06:29 “receive this invoice? So, first, he or she should understand the distribution channel, the supply chain channel. Who is going to deliver this invoice and who is going to receive it? Secondly, supposing details are things...”
- 04:08 “of each goods. So, for example, 100 shares, 250 school desk and all it shows the price of each desk. So, an invoice, it's lost just like it receipts that you are being issued to by the cashier when you go to a supermarke...”
Departmental Accounts
This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as
- 30:01 “Okay, department A, department B and department C. We are sharing 3,000 NIRA. Remember, that is the value of the expenses. What you can see on the board there. So we are sharing 3,000 NIRA into 3 places. And that will gi...”
- 14:57 “department C, 17,000, giving a total of 54,500. Purchases department, department A, 12,000, B, 8,000, C, 10,000, total 30,000. Delivery expenses, 1,800, 9,000. Insurance, 2,500, 9,000. Solarism, wages, 4,000, 9,000, rent...”
- 39:39 “you have solved the question. Then advertisement was shared equally. Remember that other expenses were told to share equally. Advertisement, Admin and general expenses, we shared equally. And the partners received 1000 N...”
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.
- 29:02 “And multiplied by 100. That's commission received. Or commission percentage is commission received over the values of sales multiplied by the services. Now, these are how you get it. Then, let's pick a question. A salesm...”
- 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...”
- 26:43 “A customer or a consumer buys how many? 24. And pays 3420. Calculate the normal price, parking. Now, it is paying. Going fully well, just look at it carefully. Looking at it, what do we have? The discounted price. We exp...”