TYPES OF PARTNERSHIP There are two main types of partnership business namely: Ordinary Partnership (or General partnership) The Limited Partnership THE ORDINARY PARTNERSHIP (GENERAL PARTNERSHIP) Characteristics or features: Membership/Number of… Read More »PARTNERSHIP: TYPES, ORDINARY PARTNERSHIP & LIMITED PARTNERSHIP
A partnership is defined as the relationship that exists between two or more (but more than twenty) persons carrying on a business in common for the purpose of making profits.… Read More »PARTNERSHIP: FORMATION, ADVANTAGES, DISADVANTAGES & CHARACTERISTICS
Business units can be divided into two broad classes namely, the private sector or private enterprise and the public sector or public enterprise. The private sector or enterprise is made… Read More »BUSINESS UNITS & SOLE PROPRIETORSHIP
Transportation is one of the aids to trade and branches of commerce which is a means whereby people and goods are moved from one place to another either through water,… Read More »TRANSPORTATION: ROAD, AIR, WATER, RAIL, IMPORTANCE, FORMS
The Nigeria Airport Authority is a statutory body or public co – operation charged with the responsibility of managing, maintaining, running, administrating and controlling all airports e.g. Murtala Muhammed Airport… Read More »NIGERIA AIRPORT AUTHORITY (NAA)
Nigeria port authority is an organ of the federal government charged with the responsibilities of producing facilities and controlling sea ports in a country. They provide facilities at the port… Read More »NIGERIA PORT AUTHORITY {NPA}
Export trade: the selling of goods/service of a country abroad. It includes goods and services sold to other countries. Nigeria’s export products are cocoa, crude oil, rubber, cassava, etc. Export… Read More »EXPORT PROMOTION COUNCIL
Custom and Excise authority is an agency charged with the responsibilities of assessing and collecting revenue due from import and export. It is a revenue collecting organ of the government.… Read More »CUSTOM AND EXICE AUTHORITY
DOCUMENTS USED IN FOREIGN TRADE Bill of lading Airway bill Indent Certificate of insurance Consular invoice Ship manifest Make receipt Certificate of origin Weight note Dock lading account Export/import license… Read More »DOCUMENTS USED IN FOREIGN TRADE
Terms of Trade: This means the prices at which the country’s exports exchanges for her imports. If the prices at which a country’s exports exchange for her imports are greater,… Read More »CONCEPTS OF INTERNATIONAL TRADE
International trade /foreign trade refers to the exchange of goods and services across the boarder of two or more countries by their resident and government. In other words, it is… Read More »INTERNATIONAL TRADE
Improvement in both economical and technical development have given both to various modern trends in retail trade. Development in retail trade are: Self – service Branding Credit cards Pre –… Read More »MODERN TRENDS IN RETAIL TRADE
Warehousing is the act of storing goods produced or bought in a place until they are needed. Warehousing ensures that there is a regular and steady supply of goods. A… Read More »WAREHOUSING
Wholesale trade (wholesaling) involves the buying of goods in large quantities from the producers or manufacturing and re-selling in small quantities to retailer. A wholesaler is a trader who purchases… Read More »WHOLESALE TRADE
Self-service: This is a method that allows customers to do their shopping in a shop with little or no assistance from sales attendants. The goods are conspicuously displayed and arranged… Read More »MODERN TRENDS IN RETAILING
TYPES OF LARGE SCALE RETAILING A MULTIPLE SHOPS OR CHAIN STORES These are large scale retail businesses consisting of a number of similar shops or branches spread or located in… Read More »LARGE SCALE RETAILING
There are several types of size of retail outlets which for easy analysis can be grouped into two, namely: Small scale and Large scale retailing TYPES OF SMALL SCALE… Read More »SMALL SCALE RETAILING
Trade (Trading) is the buying and selling of goods and services. It is divided into Home Trade and Foreign Trade. Home Trade involves the exchange (i.e. buying and selling) of… Read More »RETAIL TRADE
Division of Labour is the breaking down of production processes into different stages so that each stage is undertaken or handled by an individual. For example, division of labour occurs… Read More »DIVISION OF LABOUR, SPECIALIZATION AND EXCHANGE
Production is the changing of raw materials into finished goods and the distribution and provision of goods and services in order to satisfy human wants. Production is also referred to… Read More »PRODUCTION