This syllabus is designed to guide students through the study of Commerce, with a focus on developing their understanding of the fundamental principles and practices of commerce in the modern world.
In this WAEC Commerce Syllabus 2023/2024, students will learn about various aspects of commerce, including the nature and scope of commerce, the types of business organizations, trade associations, and international trade. Students will also gain an understanding of the role of government in commerce, the regulatory environment, and business ethics.
Throughout the course, students will be encouraged to think critically, analyze case studies, and apply their knowledge to real-world scenarios. The syllabus also emphasizes the development of communication skills, both oral and written, as well as research and information literacy skills.
The interactive approach of WAEC Commerce Syllabus 2023/2024 students to engage with the syllabus in a more meaningful way. You can use this platform to explore the various topics covered in the syllabus, test your understanding with quizzes and interactive activities, and interact with other students to exchange ideas and insights.
By the end of this course, you will have gained a deep understanding of commerce, its principles, practices, and the global context in which it operates. We hope that you find this syllabus both informative and engaging, and we wish you success in your studies!
READ: WAEC Chemistry Syllabus 2023/2024 (SSCE & GCE) Read & Download PDF
WAEC Commerce Syllabus 2023/2024
The West African Examination Council (WAEC) Commerce Syllabus covers a wide range of topics related to business and trade. The examination is designed to test the knowledge and understanding of candidates in the subject area.
Here is a scheme of the examination of the WAEC Commerce Syllabus:
- Paper 1: This is an objective paper consisting of 50 multiple-choice questions that cover the entire syllabus. Candidates are required to answer all questions within one hour.
- Paper 2: This is a written paper consisting of two sections: Section A and Section B.
- Section A: This consists of six compulsory short-answer questions worth a total of 30 marks.
- Section B: This consists of four essay questions, out of which candidates are required to answer three, worth a total of 50 marks. The essay questions are designed to test candidates’ ability to express themselves in writing, demonstrate their knowledge of commerce principles, and apply them to real-world situations.
- Paper 3: This is a practical paper that tests candidates’ ability to apply their knowledge of commerce principles to practical situations. Candidates are required to complete a series of tasks related to a business scenario provided in the paper.
The examination assesses candidates’ ability to understand, analyze, and apply principles of commerce to real-world situations, as well as their ability to communicate their ideas effectively in writing.
| S/No | Contents | Notes |
|---|---|---|
| 1. | INTRODUCTION | – Definition of Commerce and E-Commerce<br>- History/Background of Commerce<br>- Scope of Commerce and E-Commerce<br>- Functions of Commerce and E-Commerce |
| 2. | OCCUPATION | – Meaning of Occupation<br>- Types: Industrial, Commercial, Service Occupation<br>- Factors that determine types of occupation/employment<br>- Career Opportunities |
| 3. | PRODUCTION | – Meaning<br>- Factors: land, labour, capital and entrepreneurship<br>- Types: Primary, Secondary and Tertiary production<br>- Division of labour/specialization<br> – Meaning<br>- Types<br>- Advantages and disadvantages<br>- Limitation<br>- Inter-relationship between production and exchange |
| 4. | BUSINESS UNITS | – Small-scale and large-scale retailing: Types of Retail Outlets, Unit shops, Stalls, Hawkers, Kiosks, Mobile shops, Supermarket, Chain Stores, Department Stores, Shopping malls, Hypermarkets, and Mail Order business<br>- Modern trends in retailing |
| 5. | TRADE ASSOCIATIONS | – Aims and functions of Trade Association<br>- Chamber of Commerce<br>- Employers Association<br>- Consumer Association/Consumerism |
| 6. | BUSINESS CAPITAL AND PROFITS | – Meaning and types: Authorized/Registered/Normal capital, called-up, paid-up capital, capital owned, liquid/circulating capital<br>- Credit: Meaning, Sources, Instrument and Functions<br>- Calculation of working capital<br>- Importance of working capital |
| – Profits: Meaning, types, and calculation of profit<br>- Turnover: Meaning, calculations, and factors affecting turnover | ||
| 7. | TRADE | (a) HOME TRADE<br> – Purpose and branches of trade: Home Trade and Foreign Trade<br>- Meaning and Differences<br>- Retail trade: Functions of retailer<br>- Factors to consider in starting a retail business<br>- Reasons for success/failure of retail business |
| – Small-scale and large-scale retailing: Types of Retail Outlets, Unit shops, Stalls, Hawkers, Kiosks, Mobile shops, Supermarket, Chain Stores, Department Stores, Shopping malls, Hypermarkets and Mail Order business<br>- Modern trends in retailing | ||
| – Wholesale trade: Functions of Wholesalers, Types of Wholesalers, Factors, Merchant and agent wholesalers, Factors making for elimination and survival of middlemen<br>- Channel of Distribution: Meaning, Types, Factors for choice of Channel | ||
| – Profits: Meaning, types, and calculation of profit<br>- Turnover: Meaning, calculations and factors affecting turnover | ||
| 8. | PURCHASE AND SALE OF GOODS IN HOME AND FOREIGN TRADE | – Procedure and documents used in business: Order, Indent, Consular Invoice, Ordinary Invoice, Credit/Debit notes, Proforma Invoice, Letter of hypothecation, documentary credit, certificate of origin, certificate of inspection, insurance certificate<br>- Price Quotation: Trade discount, Cash discount, Quantity discount, COD, CWO, CIF, FOB, E & OE, Ex-works, LOCO, |
WAEC Commerce Recommended Textbooks 2023
| Course Name | Book Title and Author |
|---|---|
| Senior Secondary Commerce | Book One by M. O. Odedokun |
| Book Two by P. C. Udokogu | |
| Book Three by C. O. N. Oguji | |
| Basic Marketing | Basic Marketing by Jerome E. McCarthy and William Perreault Jr. |
| Marketing | Marketing by G. B. Giles (The M & E Handbook Services) |
| Consumer Behaviour | Consumer Behaviour by Prof. Achumba (University of Lagos) |
