Are you looking for WAEC Syllabus for Commerce for 2021/2022? If you are interested in WAEC syllabus for Commerce, then am pleased to let you know that the West African Examination Council (WAEC) has released the syllabus specially made for Commerce.
About WAEC Syllabus
WAEC Syllabus is a subject outline that contains topics that a candidate intending to seat for an examination for that particular subject is required to cover prior to the exam in order to stand a chance of performing excellently in the exam.
Speaking of WAEC Syllabus for Commerce, It therefore means that it’s an outline that contains all the topics for Commerce that each candidate who enrol for Commerce is expected to cover prior to the examination date. If you intend to sit for JAMB, checkout JAMB Syllabus for all Subjects here.
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WAEC Syllabus For Commerce
Without wasting much time, the syllabus for Commerce are as follows:
Aims And Objectives / Preamble
(b) FOREIGN TRADE
(i) Basic concepts in International Trade – Terms of trade, balance of trade,
balance of payment, counter
(ii) Export, Import and Entrepot – procedures and documents used. Visible
and Invisible Trade.
(iii) Barriers to International Trade
(iv) Functions of Ports Authority. Customs and Excise Authority, Customs,
Excise and Preventive Services and shipping, clearing and forwarding
Agents, Export Promotion Council.
8. PURCHASE AND SALE OF GOODS
(i) Procedure and documents;
(ii) Terms of Trade – Trade Discount, Cash discount, Quantity discount, C.O.D.,
C.I.F., F. O. B., E. and O.E.
(iii) Terms of payment – Cash, hire purchase and deferred payment;
(iv) Means of payment – Legal tender, cheques, standing order, bank drafts, stamps,
postal orders, money orders, bills of exchange and promissory notes.
9. FINANCE AND FINANCIAL INSTITUTIONS
(a) MONEY – Meaning, forms, qualities and functions.
(b) BANKS – Types of Banks – Central Bank, Commercial Banks and other specialised banks and their features and functions. Types of accounts – current, savings and fixed deposit accounts, and their main features.
(c) INSURANCE – Meaning and basic principles of insurance – utmost good faith, insurable interest, contribution, indemnity and proximate cause.
(d) TYPES OF INSURANCE – Fire, personal accident, marine, life and endowment, burglary, insurable and uninsurable risks. Importance of insurance to business and individuals. Procedure for taking an insurance policy.
(e) STOCK EXCHANGE – Meaning and functions, procedure of transactions and speculations. Types of securities.
(f) CREDIT – Meaning, types and functions.
(g) CREDIT UNIONS AND THRIFT SOCIETIES – Meaning and aims, functions
and services provided to
10. TRANSPORT AND COMMUNICATIONS
(i) Meaning and importance;
(ii) Forms of Transport – Land, water, air and pipeline. Advantages and disadvantages of each form.
(iii) Functions of Seaports and Airports.
(b) COMMUNICATION – Meaning, importance and services of Post Office, Courier Agencies and other communication agents.
11. INTRODUCTION TO MARKETING
(i) Meaning, importance and functions;
(ii) The marketing concept, the marketing mix (4p’s), market segmentation and consumer sovereignty.
(i) Meaning, role, types and media;
(ii) Advantages and disadvantages.
(c) PUBLIC RELATIONS AND CUSTOMER SERVICES
Meaning and importance.
(d) SALES PROMOTION – Trade fairs, exhibitions, gifts and
(e) PERSONAL SELLING – Meaning and uses.
12. LEGAL ASPECTS OF BUSINESS
(a) (i) Areas of law that relate to business – Contract, Agency, Sale of Goods
Act, Hire Purchase Act; Trade Description Act.
(ii) Rights and obligations of employer and employee;
(iii) Government regulation of business – Registration of business, patents,
trade marks and copy rights.
(b) CONSUMER PROTECTION
(i) Need for protection;
(ii) Means of protection – Government legislations, Food and Drugs Act, Standard Organisation Act, Trade
Description Act, Consumer Association, Price Control, Product Quality, Factory Shops and Offices Acts, etc.
13. NATIONALISATION AND INDIGENISATION/DIVESTITURE
(i) Meaning and Aims;
(ii) Advantages and Disadvantages.
14. ECONOMIC GROUPINGS
ECOWAS, Niger Basin Commission (NBC), Lake Chad Basin Commission (LCBC), Mano River Union, European Economic Community (EEC), African Caribbean and Pacific (ACP), International Bank for Reconstruction and Development (IBRD), International Monetary Fund (IMF), United Nations Conference on Trade and Development (UNCTAD) – Objectives and Obstacles.
1. Commerce for Senior Secondary Schools by Odedokun, Udokogu and Ogiyi – Longman Nigeria Publications.
2. Commerce for Senior Scondary Schools by CESAC, Shanelson Publishers, Ibadan.
3. Modern Commercial Knowledge by L. W. T. Stafford.
4. Marketing by G. B. Giles.
5. Basic Marketing by Jerome McCarthy.
WAEC Syllabus For Commerce PDF Download
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