WAEC Syllabus for Commerce

The WAEC Syllabus for Commerce is drafted for art, commercial/social science students who have undergone their three years of senior secondary school in the Commercial, Art or social science class.

The examination scheme is planned such that there will be two papers, Paper I and Paper 2, both of which will constitute a composite paper to be taken at one sitting. Paper I will consist of fifty multiple choice questions to be answered in 50 minutes for 50 marks. Paper II will consist of eight essay type questions out of which candidates will be required to answer any five within 2 hours for 100 marks.

Detailed WAEC Syllabus for Commerce

Introduction
- Definition of Commerce and E – Commerce
- History/Background of Commerce
- Scope of Commerce and E Commerce Functions of Commerce and E Commerce
Occupation
- Meaning of Occupation
- Types;- Industrial, Commercial, Service Occupation
- Factors that determine types of occupation / employment
- Career Opportunities
Production
- Meaning
- Factors – land, labour, capital and entrepreneurship
- Types:- Primary, Secondary and Tertiary production
- Division of labour/specialization
  - meaning
  - types
  - advantages and disadvantages,
  - limitation
- Inter-relationship between production and exchange
Business units
Trade associations
Business capital and profits
- Meaning and types – Authorized/Registered/Normal capital, called-up, paid-up capital, capital owned, liquid/circulating capital
- Credit – Meaning, Sources, Instrument and Functions
- Calculation of working capital, the Importance of working capital
- Profits – Meaning, types and calculation of profit
- Turnover – Meaning, calculations and factors affecting turnover
Trade
- home trade
- Foreign trade
Purchase and sale of goods in home and foreign trade
Finance and financial institutions
- Purchase and sale of goods in home and foreign trade
- Finance and
- Financial institutions
- Money
- Banks
- Insurance
- Capital market
- E. Stock exchange
- F. Commodity exchange
Transport, tourism, communication and warehousing
- Transport
- Tourism
- communication
- Warehousing
Advertising
- Meaning
- Roles, advantages and disadvantages
- Types – informative, persuasive, Competitive, mass/specific
- Methods – direct and indirect Media- meaning, choice and types
Introduction to Marketing
- Marketing
- Marketing concept
- Customer Services
- Sales Promotion
Legal aspect of Business
- Areas of law that relate to Business
- Consumer Protection
Government policies relating to business
- Commercialization
- Privatization
- Deregulation
Introduction to business management
- Meaning
- Objectives of business
- Meaning of Business Management
- Functions
- Business Resources – Man, Money, Materials Opportunities/Goodwill
- Structure of Business organizational setup Organisational chart, Departments, Functions
- of each, Authority, Delegation of Authority
- Responsibility Span of Control Meanings
- Business and its environment Economical
- Political Competition Technological etc
- Social responsibility of Business to the Society
- Importance of Inter and Intra departmental communications
Economic groupings
- ECOWAS
- NIGER BASIN
- LAKE CHAD BASIN
- COMMISSION (NBC)
- COMMISSION (LCBC)
- MANO-RIVER UNION
- EUROPEAN UNION
- WEST AFRICAN CLEARING HOUSE