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The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Commerce is to
prepare the candidates for the Board’s examination. It is designed to test their understanding of
the course objectives, which are to:

acquire the basic knowledge of Commerce;
examine the relationship between Commerce and other related fields;
apply the principles of Commerce in the Nigerian economy and
appreciate dynamic and positive changes in commercial activities.









differentiate between Commerce and other
related subjects;
describe the characteristics of Commerce;
Identify the functions of Commerce.

Candidates should be able to:

Meaning and importance
Types (industrial, commercial and
Factors that determine choice of


Candidates should be able to:

Meaning and scope




State the importance of occupation;
Compare the different types of occupation;
Identify the factors determining the choice
of occupation.

Candidates should be able to:

Factors, characteristics and rewards
(land, labour, capital and entrepreneur)
Division of Labour and specialization
Types (primary, secondary and



identify the Factors of Production and their
distinguish between Division of Labour
and Specialization;
classify the types of production.

warranties.Functions of retailers . etc) . vending machines. (i) (ii) (iii) (iv) (v) Credit . explain the procedures and documents used in foreign trade. etc in foreign trade Purchase and Sale of Goods (i) (xi) (xii) Candidates should be able to: Procedure and documentation (enquiry. classify modern retailing practices.. and E. quantity discount. b.F. OBJECTIVES Basic issues in foreign trade (balance of trade.Advantages and disadvantages of wholesalers Foreign trade (i) (ii) (iii) (iv) 5..E. etc) (iii) Terms of payments a. Candidates should be able to: Trade Home Trade (i) Retail trade: . identify the types of credit. etc) (ii) Terms of trade (trade discount. . self service. (iv) (v) Wholesale trade: . quotation. Ports Authority. agent. proforma invoice. indent.Functions of wholesalers . highlight the factors in setting up retail trade. bill of lading. discuss the functions of wholesalers. general. order.Advantages and disadvantages of retailers (i) (ii) (iii) (ii) (vi) (vii) (viii) classify the types of wholesalers. consignment note. identify the barriers to international trade. consular invoice.. import and entrepôt trade Barriers to international trade Role of Customs and Excise Authority. distinguish between cash and credit forms of payment. etc) . statement of accounts.Merits and demerits 65 examine the procedures and documents used in the purchase and sale of goods. determine the terms of trade. a. identify the functions of retailers.Trends in retailing (branding.O. cash discount.TOPICS/CONTENTS/NOTES 4. appraise the role of government agencies in foreign trade. outline the merits and demerits of the middleman.Legal tender b. identify the advantages and disadvantages of retail business. the use of luncheon.Types of wholesalers (merchant.B. (ix) (x) analyse the basic issues in foreign trade. compare the various types of retailers.O.Factors to be considered in setting up retail trade . C. invoice. balance of payments and counter trade) Procedures and documents used in export.D.Types of retailers .O. F.I. C. certificate of origin.Types and functions . Cash . fuel vouchers. analyse the merits and demerits of credit transactions.

identify the agencies that promote tourism in Nigeria. (i) (ii) Banking: (i) Types of bank (ii) Services (iii) Challenges Communication: (i) Process and procedure (ii) Types (iii) Trends (iv) Merits and demerits (v) Barriers (iii) (iv) (v) categorize the different types of bank.. appraise the contributions of courier services. outline the barriers to communication (vii) (viii) (ix) (x) Insurance: (i) Types (ii) Principles (iii) Terms (iv) Importance (xi) (xii) (xiii) (xiv) Tourism: (i) Importance (ii) Agencies that promote tourism in Nigeria (iii) Challenges (xv) (xvi) (xvii) Transportation: (i) Mode (ii) Importance (iii) Advantages and disadvantages (xviii) (xix) (xx) Warehousing: (i) Importance (ii) Types and functions (iii) Factors to be considered in siting a warehouse (xxi) (xxii) (xxiii) 66 identify the different types of advertising and its media. analyse the types of communication. f. (vi) assess the different stages in the communication process. describe the types of insurance. analyse the challenges facing tourism in Nigeria. identify the challenges facing banks. analyse the advantages and disadvantages of advertising. apply the principles of insurance to life situations. list the importance of transportation. examine the importance of tourism. appraise the contributions of warehouses to businesses. explain the terms in insurance. discuss the advantages and disadvantages of transportation. etc. evaluate the factors that determine the siting of warehouses. OBJECTIVES Candidates should be able to: Aids-to-trade a. assess the services rendered by banks. .TOPICS/CONTENTS/NOTES 6. c. to businesses. appraise the relevance of the various modes of transportation. highlight the importance of warehousing. g. e. state the importance of insurance. Advertising: (i) Types and media (ii) Advantages and disadvantages b. state the merits and demerits of communication. d. GSM.

assess the role of bureaux de change in an economy. sale of shares and bonds. Financing Business Candidates should be able to: (i) (i) (ii) (iii) (iv) (v) 9. etc. OBJECTIVES Sources of finance (personal savings. appraise the functions of money. Poultry Farmers’ Association. (i) (ii) (iii) Evolution Forms and qualities Functions 67 discuss the origin of money. analyse the forms and qualities of money. leasing. Garri Sellers’ Association. debentures. Business Units Candidates should be able to: (i) (i) (ii) (iii) (iv) (v) (vi) 8. called-up capital. state the merits and demerits of business units. Partnership. Money (i) (ii) (iii) (ii) (iii) identify the various ways of financing a business. Limited Liability Companies. etc. list the objectives and functions of Chambers of Commerce. issued capital. analyse the procedures for registering businesses. Forms and features (Sole Proprietorship. appraise the different forms of business mergers and the reasons for merging. loans. differentiate between dissolution and liquidation of business.) Registration of businesses Business Mergers Determination of choice of business units Dissolution and liquidation Merits and demerits (ii) (iii) (iv) (v) (vi) identify the forms and features of business units. profits and turnover. profits (gross and net) and turnover Problems of sourcing finance The role of Bureaux de change in an economy Trade Associations (i) (ii) (iv) (v) Candidates should be able to: (i) Objectives and functions of trade and manufacturer’s associations (Cocoa Farmers’ Association. Cooperative Societies. discuss the different types of capital compute the different forms of capital. paid-up capital.) (ii) discuss the objectives and functions of trade and manufacturer’s associations. examine the factors which determine the choice of business units. ploughing back of profit. authorized (capital. working capital and owners’ equity) Calculation of forms of capital. credit purchase. etc. liquid capital.) Types of capital (share capital.TOPICS/CONTENTS/NOTES 7. capital owned. mortgage. appraise the problems associated with sourcing finances for business. bank overdraft. Candidates should be able to: 10. Public Corporations. . Objectives and functions of Chambers of Commerce.

machines and opportunities/goodwill) (i) (ii) (iii) (iv) (v) (iii) (iv) (v) Importance and Functions The marketing concept (consumer orientation. marketing. matrix and committee) Functional areas of business (production. materials. coordinating. appraise the advantages and operating regulations of the market. Candidates should be able to: (i) analyse the elements and validity of a simple contract. delegation of authority. trademarks and copyrights. (listing requirements. 68 . analyse the procedure of transactions and speculations on the Stock Exchange. Elements of Marketing (i) (ii) state the importance and functions of the Stock Exchange. price. (ii) examine Agency. advantages and operating regulations of the market. etc) Procedure of transactions and speculations Second-Tier Securities Market. unity of command. examine the business resources. etc) Organizational structure (line. trademarks. communicating. (iii) assess the rights and obligations of employers and employees. assess the elements of marketing mix. explain market segmentation. discuss the marketing concept. functional. integrated marketing.TOPICS/CONTENTS/NOTES OBJECTIVES Candidates should be able to: 11.) (i) (ii) (iii) (iv) Candidates should be able to: 12. line and staff. (v) identify the functions of consumerism. debentures. examine public relations and customer service. patents. Sale of Goods Act and Hire Purchase Act Contract of employment Government regulations of business (registration of business. identify organizational structures. Candidates should be able to: 13. customer satisfaction. finance and personnel) Business resources (man. analyse the principles of management. (i) (ii) (iii) (iv) (v) 14. Stock Exchange (i) (ii) (iii) (iv) Importance and functions Types of securities (stocks. etc) Marketing mix (product. motivating. money. copyrights. Legal Aspects of Business (i) (ii) (iii) (iv) appraise the functions of management. Meaning and validity of a simple contract Agency. Sale of Goods Act and Hire Purchase Act. etc) highlight the importance and functions of marketing. bonds. types of companies for the market. controlling etc) Principles (span of control. shares. place and promotion) Market Segmentation Public relations and Customer Service. staffing. Elements of Business Management (i) (ii) (iii) (iv) (v) Functions (planning. identify the different securities traded on the Stock Exchange. organizing. (iv) distinguish between patents. assess the functional areas of business.

TOPICS/CONTENTS/NOTES (v) (vi) OBJECTIVES Consumer protection (Government legislation. identify the different terms used in ICT. philanthropic and societal consideration Types and implication of pollution (water. password. Standards Organization Trade Descriptions Act. Local Area Network. etc. enumerate the types and functions of computer. analyse the merits and demerits of ICT. etc. evaluate the trends in ICT.) 69 (i) (ii) (iii) discuss the types of business environment. browsing. etc. economic. Consumer Protection Council. google. cultural. yahoo. identify the different types of pollution and their implications on businesses. Activities: (i) e-commerce (ii) e-banking (iii) e-business 16. etc Safe products. Candidates should be able to: Legal. Business Environment Responsibility (i) (ii) (iii) and Social (v) (vi) discuss computer appreciation and application.) c. NAFDAC. appraise the challenges of using the computer. search. assess the role of social environment in the provision of safe products. Intranet. NDLEA. . social. e-mail. technological environments. political. land. (vi) assess the relevance of regulatory agencies and acts in the provision of safe goods and drugs. Information and Communication Technology (ICT) (i) a. Computer: (i) Appreciation and application (ii) Types and functions (iii) Merits and demerits (iv) Challenges (ii) (iii) (iv) b. Terms (Internet. Candidates should be able to: 15. Customs and Excise.) Regulatory agencies. air.

Asaolu. Benin: Bofic Publishers. (First Edition). et al (1999) Commerce for Senior Secondary Schools. Commerce Simplified for SSS 1 – 3. M. C. Publishing Limited. O. et al (1996) Management. (Fifth Edition). A. M. M. L. A. (2005) New Syllabus Commerce for Secondary Schools Books 1 – 3 (Second Edition) Ibadan: Evans. and Isaacs. S. Pallister. Onifade. P. Global Publications. JAMB & NABTEB EXAMS. C. P. New Delhi: Prentice Hall). I. F. A. James. (1978) Commerce for West Africa. Ahukannah. J. A. (1998) Working with Computer. Igwe. NECO. G. (2001) Management: Office Business Education. Books 1 – 3. French. H. Onifade. Garki. Abeokuta: KAPPCO. Abuja: Precious Treasures Ltd. Ibru. O. A..L. Britain: Ashford. e tal (2004) Countdown to WASSCE/SSCE/NECO/JME Commerce. Ibadan: Onibonoje. London: Macmillan. (1998) Commerce for Senior Secondary Schools. Abeokuta: KAPPCO. F. (2012). C. (2000) Marketing Today. Lagos: G. WAEC. Nwachukwu. (1999) Handbook on Commerce for Schools and Colleges. Lagos: Longman.RECOMMENDED TEXTS Anderson. D. A. (Sixth Edition). (2000) Computer Science.S. Odedokun. Books 1 – 3. Babatunde. (1999) Management Theory and Practice. C. Onitsha: Africana – First Publishers. A. (2004) Nigeria: The Promise of Tourism. J. and Igwe. O. M. et al (1992) Commerce for Secondary Schools Onitsha: Africana – First Publishers. F. Oxford: Oxford University Press. A. Abuja: Andyson Millennium Concepts Ltd. (eds) (2002) A Dictionary of Business (Third Edition). Eriki. Odoom. P. Ibadan: Evans. Ubaka. (2002) The Computer for Word Processing and Internet. 70 . J. Onu.