BUSINESS STUDIES LESSON NOTE FIRST TERM

(1) WEEK ONE (2) DATE: ………………….…………. (3) CLASS: JSS 2

(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: THE RECEPTION OFFICE
(6) SUB-TITLE (IF ANY): Meaning of Reception Office and Receptionist
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Describe the reception office
ii. Define a Receptionist
iii. State the qualities of a Receptionist
(10) KEY VOCABULARY WORDS: Reception, Receptionist, code.
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS1 by Adekunle K.O. New
edition/Internet/flash cards, pictures of a Receptionist in an office
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can identify a reception office
(13) CONTENT:

THE RECEPTION OFFICE

The reception office is the first office where visitors are welcomed to the organization apart from gateman’s office
and is from this office that he or she seeks appropriate information about the purpose of the visit to the
organization.

RECEPTIONIST
A receptionist is the first contact person that welcomes visitors to in an organization.

IMPORTANCE OF A RECEPTIONIST
a. They receive and direct the visitors in the organization
b. They create awareness about the arrival of a visitor
c. They keep and give necessary information on behalf of the organization.

QUALITIES OF A RECEPTIONIST
a. A receptionist must be ready to assist visitors
b. He/she should be patient
c. He/she should be punctual and regular at work
d. He/she should have good command of English language
e. He/she should be polite in speech
f. He/she should have a sound knowledge of the organization

(14) STRATEGIES & ACTIVITIES: Collaboration/Critical thinking

i. Writing of topic and objectives on the board
ii. Preview of leaning objective and key vocabulary words
iii. The students are introduced to the subject by the teacher
iv. The students are asked to explain importance of business studies
v. The students are given the explanation on the components of the business studies.
vi. The students ask questions and teacher gives answer
vii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of business studies
2. State the importance of business Studies
3. Mention the components of business studies
16) WRAP-UP: The teacher gives summary of the meaning of business studies, the importance and components.
(17) ASSIGNMENT: List five (5) documents handled by a receptionist.
HOD/V.P’S COMMENTS & ENDORSEMENT:

1
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK ONE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: THE RECEPTION OFFICE
(6) SUB-TITLE (IF ANY): DOCUMENTS HANDLED BY A RECEPTIONIST
(7) PERIOD: (8 DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Mention the documents handled by a receptionist
2. Explain appropriate dress code of a receptionist
(10) KEY VOCABULARY WORDS: Reception, Receptionist, code
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS1 by Adekunle K.O. New
edition/Internet/flash cards, pictures of a Receptionist.
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can identify who a receptionist is.
(13) CONTENT:

DOCUMENTS HANDLED BY A RECEPTIONIST

There are several documents a receptionist keeps that make his/her work easy and information given or received
are noted down correctly. These are:
a) Visitors book
b) Telephone message pad
c) Request form/visitors slip
d) Business card or introductory card
e) The Diary
f) Appointment register.

Appropriate office dress Code

In an organization such as schools and banks the dressing code is usually in any of the following ways:
a. Casual Dressing:- for somebody who is absent from work
b. Official/Formal Dressing:- A receptionist should be smarty and neatly dressed . a skirt suit or a simple
skirt and a blouse are appropriate for a lady. Some organization prefer trouser suit. A male can appear in a
clean trouser with a shirt and a tie to be smart.
c. Occasional/Ceremonial Dressings:-These are dressing code for ceremonies.

(14) STRATEGIES & ACTIVITIES: Demonstration/chunk and chew

i. Writing of topic and objectives on the board
ii. Teacher makes short revision of the previous work
iii. Preview of leaning objective and key vocabulary words
iv. The students deliberate on the documents handled by a receptionist
v. The students in small groups discuss different appropriate dressing code
vi. The students ask questions and teacher gives answer
vii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Mention the documents handled by a receptionist
2. Explain appropriate dress code of a receptionist
(16) WRAP-UP: The teacher summarizes the lesson by highlights the documents handled by a receptionist and
official dress code of a receptionist.
(17) ASSIGNMENT: Explain appropriate official dress code
HOD/V.P’S COMMENTS & ENDORSEMENT:

2
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK TWO (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: OFFICE CORRESPONDENCE RECORDS
(6) SUB-TITLE (IF ANY): Meaning, types and uses
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Explain office correspondence records
ii. State and explain types of office correspondence records and uses
(10) KEY VOCABULARY WORDS: Correspondence, Mail, Dispatch, Postage
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS1 by Adekunle K.O. New
edition/Internet/flash cards, specimen of the records
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can define office
(13) CONTENT:

OFFICE CORRESPONDENCE RECORDS

Correspondences are mails and letters sent and received in and out of an organization.

TYPES OF OFFICE CORRESPONDENCE RECORDS

The main correspondence books used in office/organization are as follows:
a. Inward book:
b. Outward book
c. Postage book
d. Dispatch book
e. File movement book

USES OF OFFICE CORRESPONDENCE RECORDS

i. Inward book: It is also called incoming register. This is used to record in a summarized form, information
relating to all mails received by an organization.
ii. Outward book: This is also known as outgoing register. This is used to record in a summarized form
information relating to all mails sent out by an organization.
iii. Postage Book: It is used for recording the details of the letters posted and the amount spent on stamp
iv. Dispatch book:- Mails/letters sent by hand is recorded in the dispatch book and it must be signed by the
receiver.
v. File Movement Book: It is kept by filing clerk to record the movement of file from one place to another in
an organization

(14) STRATEGIES & ACTIVITIES: Collaboration/Brainstorming

i. Writing of topic and objectives on the board
ii. Preview of leaning objective and key vocabulary words
iii. The students are introduced to the subject by the teacher
iv. The students as a class brainstorm on the records used in an office based on the activities of the office
v. Students explains the uses of office correspondence records
vi. The students are commended for the contribution
vii. The students are allowed to ask questions and teacher gives answer
viii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Mention 5 correspondence records
2. State uses of each of the correspondence mentioned above
(16) WRAP-UP: The teacher gives summary of the meaning of correspondence, types and uses.
(17) ASSIGNMENT: Who is a clerk?
HOD/V.P’S COMMENTS & ENDORSEMENT:

3
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK TWO (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: OFFICE CORRESPONDENCE RECORDS
(6) SUB-TITLE (IF ANY): Means of incoming mails and the procedures of handling mails
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Mention ways mails come into organization.
ii. State procedures for handling mails
(10) KEY VOCABULARY WORDS: Correspondence, Mail, Dispatch, Postage
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS1 by Adekunle K.O. New
edition/Internet/flash cards, specimen of the records
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can mention types of
correspondence
(13) CONTENT:

Ways through which Mails come into an Organization

The main ways through which mails/letters come into an organization are as follows
1. INTERNET: when mails or letters are received or sent through e-mail
2. BY POST: Another way is through post office.
3. BY HAND: This is when mails or letters are received in an organization by the receptionist.

PROCEDURES FOR HANDLING MAIL

Incoming Mail:
1. Receive mail 5. Opening of non-confidential mail
2. Sorting the mails 6. Removing the contents
3. Sending of personal mail 7. Recording details of the mails in the
4. Sending of official mail to the officer inwards mail register

Outgoing Mail:
1. Collecting the mails 5. Weighing of mail
2. Preparing for posting or dispatch 6. Stamping of mails
3. Folding of mails 7. Dispatching the mail
4. Insertion of letters into envelopes

(14) STRATEGIES & ACTIVITIES: Demonstration/chunk and chew

i. Writing of topic and objectives on the board
ii. Teacher makes short revision of the previous work
iii. Preview of leaning objective and key vocabulary words
iv. The students deliberate on the functions of an office
v. The students states different office in an organisation.
vi. The students are commended for the contribution
vii. The students are allowed to ask questions and teacher gives answer
viii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
i. Mention functions of an office
ii. State different offices in an organization
(16) WRAP-UP: The teacher summarizes the lesson stating the functions of an office and different offices in an
organization.
(17) ASSIGNMENT: What is office document?
HOD/V.P’S COMMENTS & ENDORSEMENT:

4
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK THREE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: OFFICE DOCUMENTS
(6) SUB-TITLE (IF ANY): Meaning and Types of Office Documents
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Explain the meaning of office Documents
ii. State the types of office documents
(10) KEY VOCABULARY WORDS: Sales, Document, Purchases, Quotation, Invoice
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/Samples of office documents
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can explain the meaning of office
(13) CONTENT:

OFFICE DOCUMENTS
Office documents are the books kept to show records of sales and purchases a company or organization makes.
These are official and written documents containing vital information used in carrying on the day to day activities
of an organization.

TYPES OF OFFICE DOCUMENTS

Office documents can be categorized into two namely:
1. Sales documents
2. Purchases documents

SALES DOCUMENTS
These are official documents relating to the sales of an organization. These are usually handled and prepared by
the sales or marketing unit of the organization. These are the sales documents
a. Price list: It contains the prices at which the products of an organization are sold.
b. Quotation: This is specific reply to letter of enquiry. It is given to the buyer by the seller
c. Invoice: It is written by the seller to the buyer stated the detailed information of the goods together with
the value of the transaction
d. Receipt: It is an evidence of payment. It is a sales document issued to acknowledge that money have been
received.
e. Delivery Note: It is usually given to the driver of the vehicle to accompany goods being transported to the
destination of the buyer.
f. Debit Note: It is sent to the buyer to correct under charged by the seller
g. Credit Note: It is a document sent to a buyer when the buyer has been over charged

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

i. Writing of topic and objectives on the board
ii. Preview of leaning objective and key vocabulary words
iii. The students as a class discuss the meaning of office documents
iv. The students state the types of office documents
v. The students are commended and teacher add her own points
vi. The students are allowed to ask questions and teacher gives answer
vii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
i. Explain the meaning of office Documents
ii. State the types of office documents
16) WRAP-UP: The teacher gives summary of the meaning of clerical staff and their functions
(17) ASSIGNMENT: What do you understand by purchase documents?
HOD/V.P’S COMMENTS & ENDORSEMENT:

5
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK THREE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: OFFICE DOCUMENTS
(6) SUB-TITLE (IF ANY): Purchase documents
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Mention purchases documents
ii. State the uses of each documents
(10) KEY VOCABULARY WORDS: Sales, Document, Purchases, Quotation, Invoice
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/Samples of office documents
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can mention types of office documents
(13) CONTENT:

PURCHASE DOCUMENTS
They are official documents relating to purchases of an organization. They are prepared by the purchasing
department. These are;
1. Letter of Enquiry
2. Purchases Order:
3. Requisition Form
Letter of Enquiry: This is an official document prepared by the buyer to find out detailed information about the
products to be bought. It is usually replied by catalogue or price list
Purchases Order: it is sent by the buyer when satisfied with terms and conditions on the price list authorizing the
seller to supply goods.
Requisition Form: It is meant for internal use only. The departments used it to request for items needed from the
store department.

(14) STRATEGIES & ACTIVITIES: Demonstration/chunk and chew

i. Writing of topic and objectives on the board
ii. Teacher makes short revision of the previous work
iii. Preview of leaning objective and key vocabulary words
iv. The students discuss the qualities of a clerical staff in an office
v. The students states the meaning of confidentiality.
vi. The students are commended for the contribution
vii. The students are allowed to ask questions and teacher gives answer
viii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
i. Mention purchases documents
ii. State the uses of each documents
(16) WRAP-UP: The teacher summarizes the lesson states the types of purchases document and their uses
(17) ASSIGNMENT: State 3 purchases document and its uses
HOD/V.P’S COMMENTS & ENDORSEMENT

6
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK FOUR (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: TRADE
(6) SUB-TITLE (IF ANY): Meaning and Importance of Trade
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Explain the meaning of Trade
ii. Mention the importance of trade
(10) KEY VOCABULARY WORDS: Home, domestic, foreign, International
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/Samples of home products and foreign products
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students are familiar with buying and selling of
goods locally
(13) CONTENT:

TRADE
Meaning: Trade is the act of buying and selling of goods and services to satisfy human wants.. Trade can be divided
into home trade and foreign trade.

IMPORTANCE OF TRADE
1. It provides an opportunity which enables buyers and sellers to come together, to buy and sell their
products.
2. It enables the buyers to have access to goods and services needed
3. With trade, goods produced abroad, are brought to Nigeria for sale
4. It makes it possible for goods produced locally to be taken to other countries for sale.
5. It promotes the economic growth and development of a nation
6. It is a means of generating income.
7. It increase the standard of living

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

i. Writing of topic and objectives on the board
ii. Preview of leaning objective and key vocabulary words
iii. The students as a class discuss the meaning of trade
iv. The students state the importance of trade
v. The students are commended and teacher add her own points
vi. The students are allowed to ask questions and teacher gives answer
vii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
i. Explain the meaning of Trade
ii. Mention the importance of trade
16) WRAP-UP: The teacher gives summary of the meaning of trade and the importance
(17) ASSIGNMENT: (i) what is trade?
(ii) List 5 importance of trade
HOD/V.P’S COMMENTS & ENDORSEMENT

7
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK FOUR (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: TRADE
(6) SUB-TITLE (IF ANY): FORMS OF TRADE
(7) PERIOD: (8 DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Mention two forms of trade with examples
ii. State the difference between the two forms of trade
(10) KEY VOCABULARY WORDS: Home, domestic, foreign, International
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/Samples of home products and foreign products
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can explain trade and state the
importance of trade
(13) CONTENT:

FORMS OF TRADE
Basically there are two forms of trade.

1. HOME TRADE: Home trade is also known as the domestic trade. It is the buying and selling goods and
services within the country. It involves the use of home or domestic currency. Example is buying cloths in
Lagos and selling them in Ogun State. Home trade can be classified into retail and wholesale trade.
2. FOREIGN TRADE: foreign trade is the trade between two or more countries. It is the same as international
trade. Example is the trade between Nigeria and United States of America (U.S.A.). Foreign trade involves
the use of different currencies and language. Foreign trade can be classified into:
i. Import: Import trade refers to buying of goods and services into one country from another.
ii. Export: Export trade refers to selling of goods and services produced in a country to another.
iii. Entrepot: Entrepot means a trade in which imported goods are re-exported with or without any
additional processing or repackaging.

(14) STRATEGIES & ACTIVITIES: Demonstration/chunk and chew

i. Writing of topic and objectives on the board
ii. Teacher makes short revision of the previous work
iii. Preview of leaning objective and key vocabulary words
iv. The students discuss the forms of trade
v. The students states the difference between the two forms of trade with examples
vi. The students are commended for their contribution
vii. The students are allowed to ask questions and teacher gives answer
viii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION (i) Mention two forms of trade with examples
(ii) State the difference between the two forms of trade
(16) WRAP-UP: The teacher summarizes the lesson states the types of purchases document and their uses
(17) ASSIGNMENT : (i) Mention 5 imported products and 5 exported products (ii) List 5 importance of trade
HOD/V.P’S COMMENTS & ENDORSEMENT

8
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK FIVE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: AIDS TO TRADE
(6) SUB-TITLE (IF ANY): Meaning, aids to trade
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
i. Explain the meaning of aids to trade
ii. Mention services that makes trade easy
(10) KEY VOCABULARY WORDS: advertising, warehousing, insurance, communication
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/pictures of some aids to trade
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students are familiar with some of the aids to
trade.
(13) CONTENT:

AIDS TO TRADE
Aids to trade are the services that make trade easy to carry out. Examples are banking, insurance, advertising,
warehousing etc.

1. Banking: This is the process of keeping money or other valuables for use at any time, the banks act as
payment agent. They provide funds for use by businessmen and women.
2. Insurance: insurance is a process of passing risk and its effect from the insured (the person) to the insurer
(the insurance company). Insurance ensures that the effects of risk in business are not too much on the
insured businessman or woman
3. Advertising: it is a process of making all the goods that are available for sales to create consumer
awareness. It brings the consumer and the manufacturer together.
4. Warehousing: is a process of keeping goods safe till the time it will be needed by the consumer or the
buyer. It helps the businessman to plan appropriately on purchases and what to buy later. It also help to
guide against wastage and provides a mean through which goods produced now are kept for later
consumption.
5. Transportation: is a process of moving goods from the manufacturer to the place of consumption.
6. Communication: This provides a platform for stakeholders in business to pass across vital information
between or among one another.
7. Tourism: This has to do with movement from one part of the world for sight-seeing and relaxation.
8. E-commerce: This known as electronic commerce. It is the trading of goods and services online. The
internet allows individuals and businesses to buy and sell an increasing amount of physical goods, digital
goods and services electronically.

9
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(14) STRATEGIES & ACTIVITIES: Collaboration/Creative
i. Writing of topic and objectives on the board
ii. Preview of leaning objective and key vocabulary words
iii. The students as a class discuss the meaning of aids to trade
iv. The students state services that makes trade easy
v. The students are commended and teacher add her own points
vi. The students are allowed to ask questions and teacher gives answer
vii. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
i. Explain the meaning of aids to trade
ii. Mention services that makes trade easy
16) WRAP-UP: The teacher gives summary of the meaning of aids to trade.
(17) ASSIGNMENT : Mention seven aids to trade
HOD/V.P’S COMMENTS & ENDORSEMENT

10
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK FIVE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: AIDS TO TRADE
(6) SUB-TITLE (IF ANY): Roles of Customs and Excise in foreign trade
(7) PERIOD: (8) DURATION: 80mins
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of customs and excise
2. Mention roles of customs and excise in foreign trade
(10) KEY VOCABULARY WORDS: advertising, warehousing, insurance, communication
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/pictures of some aids to trade
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can mention some of aids to trade
(13) CONTENT:

ROLES OF CUSTOMS AND EXCISE IN FOREIGN TRADE

The Nigeria Customs service is an agency of the Federal Government charged with the responsibilities of customs
and excise in Nigeria

Custom duties are duties levied on both imported and exported goods and services by customs and excise duties
are duties on locally made goods.

Below are some of functions of custom and excise in Nigeria. They look to:
a. They prevent the smuggling of goods
b. They check the importation of prohibited goods
c. They help government to collect customs duties
d. They help government to collect excise duties on locally produced goods
e. They help the government to regulate goods imported and exported.
f. They issue licenses for the manufacture and sale of certain goods in the country

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of customs and excise duties
4. The students mention roles of custom and excise in foreign trade
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of customs and excise
2. Mention roles of customs and excise in foreign trade
16) WRAP-UP: The teacher gives summary of the meaning of custom and excise duties and state the roles in
foreign trade.
(17) ASSIGNMENT: List 5 roles of custom and excise in foreign trade
HOD/V.P’S COMMENTS & ENDORSEMENT

11
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK SIX (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: MARKET
(6) SUB-TITLE (IF ANY): Meaning, Features and Types of Market
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of market
2. State the features of Market
(10) KEY VOCABULARY WORDS: market, financial, capital,
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/pictures showing types of Market
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can define market
(13) CONTENT:

MARKET
Market is a place where buyers and sellers are in contact with one another for the purpose of buying and selling.

Features of Market
 There must be goods and services
 There must be buyer and seller
 There must be a medium of exchange (money)

TYPES OF MARKET
1. Financial Market
2. Commodity market

FINANCIAL MARKET
Financial markets are markets for borrowers of money and lenders of money for the purpose of aiding trade.

CLASSIFICATIONS OF FINANCIAL MARKET

a. Money Market: it is financial market where short term funds are raised. Instruments that are traded in
the money market include call money arrangement, treasury bills, treasury certificate, etc. it also made
money available for commercial purposes. Examples of money markets are; commercial banks like First
bank, Gt bank etc.
b. Capital Market: Market for raising more money for business purpose. It is a market where shares are
bought and sold. Example: stock exchange market.

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of market
4. The students mention features of market
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of market
2. State the features of Market
(16) WRAP-UP: The teacher gives summary of the meaning of market and features of market
(17) ASSINGMENT: (i) What is market?
(ii) List 3 features of a market
HOD/V.P’S COMMENTS & ENDORSEMENT:

12
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK SIX (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: MARKET
(6) SUB-TITLE (IF ANY): Meaning and Types of Commodity Market
(7) PERIOD: Double (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of market
2. State the features of Market
(10) KEY VOCABULARY WORDS: market, financial, capital,
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/pictures showing types of Market
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students are familiar commodity market
(13) CONTENT:

COMMODITY MARKET
Commodity market are markets for raw materials which are used either for food or inputs, it is also a market for
finished products like cars, television, books etc.

CLASSIFICATIONS OF COMMODITY MARKET

a. Open Air Market: it is the common market usually found in the villages and cities of West African
Countries. Here sellers display their goods in the open air.
b. Market Stalls: Stalls are some enclosures or rooms which usually have open fronts for the display of
wares. They may even be kiosks or stands within large walled area, usually in big towns or cities.
c. Shop: A shop may be a single room in a building, a number of shops in a location called a shopping centre
for buying and selling.

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of market
4. The students mention features of market
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain commodity market
2. State the classifications of commodity Market
(16) WRAP-UP: The teacher gives summary of the meaning of market and features of market
(17) ASSIGNMENT: State 3 types of market and differentiate between capital and money capital
HOD/V.P’S COMMENTS & ENDORSEMENT:

13
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK SEVEN (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: CAPITAL MARKET
(6) SUB-TITLE (IF ANY): Meaning
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of capital market
2. State the instruments traded in capital market
(10) KEY VOCABULARY WORDS: broker, bond mortgage, merchant
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/pictures showing types of Market
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can define market
(13) CONTENT:

CAPITAL MARKET
Capital Market is a financial market where medium and long term funds are raised. The financial institution that
make up of the market are commercial banks, development banks, merchant banks and the stock Exchange
Capital Market is sub-divided into two

Types of Capital Market

1. Primary Market: This is a market where new shares are issued potential shareholders.
2. Secondary Market: This is a market for sales and purchases of existing shares and stocks.
Dealers in the Capital Market
1. Insurance Companies
2. Stock Exchange Market
3. Merchant Bank
Instruments traded in Capital Market
a. Mortgage bond
b. Corporate stock
c. Commercial loan

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of capital market
4. The students mention instrument traded with in capital market
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of capital market
2. State the instruments traded in capital market
(16) WRAP-UP: The teacher gives summary of the meaning of market and features of market
(17) ASSIGNMENT: (i) what is capital market?
(ii) List 3 instrument traded with in capital market
HOD/V.P’S COMMENTS & ENDORSEMENT:

14
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK SEVEN (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: CAPITAL MARKET
(6) SUB-TITLE (IF ANY): Career opportunities in capital market
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. List career opportunities in a capital market
2. Explain the difference between cash and credit transaction
(10) KEY VOCABULARY WORDS: Broker, jobber, bull, stag, bear, banker
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/flash card
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can explain the meaning of capital
market
(13) CONTENT:

CAREER OPPORTUNITIES IN CAPITAL MARKET

1. Broker:- They are people who buy stock on behalf of their investors or customers and get commission.
2. Jobbers:- jobbers are the dealers in stock and shares. Their profit is called jobbers turn.
3. Bears:- A bear whose market exists in a period of slump is an investor who sells securities he does not yet
has. When unable to deliver, he pays back to his customers
4. Stag:- A stag is a speculator in the capital market who buys new issues of shares with the intention of
reselling them at a higher price for the purpose of profit.

BUYING AND SELLING

It means the exchange of goods and services for money. It is basically known as transactions. It takes place in two
forms. They are cash transactions and credit transactions.

CASH TRANSACTIONS: This is when money is paid or received immediately for transactions that have taken place.
CREDIT TRANSACTIONS: Credit transaction is when payment of money is deferred to the future for the
transactions that have taken place.

METHODS OF BUYING AND SELLING GOODS

1. Buying by description: The buyer does not have opportunity of physically examining the product in
question before making decision on the purchases. The buyers do not physically see these goods but
depend on the words of the seller on goods to be bought
2. By Sample:_ under this method the buyer relies on the sample given by the seller to carry out the
purchase of the goods.
3. By Auction:- This is when goods are bought at public places by an appointed auctioneer. This method
allows prospective buyers to bid in public for goods and the goods are made available to the highest
bidder.
4. By Inspection:- This method gives the buyer the opportunity to examine the product closely before
carrying on the purchase.
5. By Grade:- The seller is easily able to separate goods into different categories and place prices differently
or accordingly, examples cocoa and egg.

15
 BUSINESS STUDIES LESSON NOTE FIRST TERM
TRANSACTIONS TERMINOLOGIES
A. COST OF SALE: This is the amount spent on the goods sold.
B. MARK UP: This is a profit expressed as in relation to the cost price.
C. MARGIN: This is a profit expressed as a relation to selling price.
D. TURNOVER: It is the monetary value of all the goods sold in an accounting period.
E. STOCK TURNOVER: This is the degree or frequency at which a company turn over its inventory into cash
and debtors through sales.

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Teacher makes short revision of the previous work
3. Preview of leaning objective and key vocabulary words
4. The students as a class discuss the career opportunities in capital market
5. The students are to differentiate between cash and credit transaction.
6. The students are commended and teacher add her own points
7. The students are allowed to ask questions and teacher gives answer
8. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of market
2. State the features of Market
16) WRAP-UP: The teacher gives summary of the career opportunities in capital market and state difference
between cash and credit transaction.
(17) ASSIGNMENT: Explain cash and credit transactions
HOD/V.P’S COMMENTS & ENDORSEMENT:

16
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK NINE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: DISTRIBUTION
(6) SUB-TITLE (IF ANY): Meaning, Channels of distribution
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of distribution
2. List the channel of distribution.
(10) KEY VOCABULARY WORDS: producer, wholesaler, retailer, manufacturer
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/charts of distribution channels
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can define distribution
(13) CONTENT: DISTRIBUTION
Distribution is the process of getting the goods and services manufactured into the hands of consumers.
Distribution enables the end-users to derive the desired satisfaction by making the goods available to them.

CHANNEL OF DISTRIBUTION

This involves the stages that a product or service will pass through before finally getting to the end-users.

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of distribution
4. The students as whole dramatize on the distribution channel
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of distribution
2. List the channel of distribution.
(16) WRAP-UP: The teacher gives summary of the meaning of distribution and state the channel of distribution
(17) ASSIGNMENT: State the four components of the channel of distribution
HOD/V.P’S COMMENTS & ENDORSEMENT:

17
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK NINE (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: DISTRIBUTION
(6) SUB-TITLE (IF ANY): Meaning, Channels of distribution
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the meaning of distribution
2. List the channel of distribution.
(10) KEY VOCABULARY WORDS: producer, wholesaler, retailer, manufacturer
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/charts of distribution channels
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can define distribution
(13) CONTENT:

FUNCTIONS OF EACH OF THE CHANNEL OF DISTRIBUTION

Producer/Manufacturer: They are in charge of turning raw materials to finish products.

Wholesaler: Wholesaler may be defined as a trader who buys goods in large quantities from the producer and sells
in small quantity to the retailers.
1. Bulk breaking
2. It finances the retailer by giving credit facility to them
3. He gives vital information about market situation to the producer
4. He gives the retailer technical advice on products sold
5. He finances the producer by making prompt or advance payment for goods

Retailer A retailer may be defined as the trader who buys goods in small quantity from the wholesaler or directly
from the manufacturer and sell in units to the final consumer.
1. They render after sales services to the consumers
2. They create awareness about the product
3. They helps the consumers to buy goods in smaller quantities
4. They stocks variety of goods in order to satisfy the taste of the consumer
5. He assist the producer and wholesaler in promoting lesser known goods

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Teacher makes short revision of the previous work
3. Preview of leaning objective and key vocabulary words
4. The students discuss the functions of each of the channel of distribution
5. The students are commended and teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the meaning of distribution
2. List the channel of distribution.
16) WRAP-UP: The teacher gives summary of the functions of each channel of distribution
(17) ASSIGNMENT: When does production end?
HOD/V.P’S COMMENTS & ENDORSEMENT:

18
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK TEN (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: BANK AND BANK SERVICES
(6) SUB-TITLE (IF ANY): Meaning Of bank, types of bank
(7) PERIOD: (8) DURATION:
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Describe a bank
2. State and explain types of bank
(10) KEY VOCABULARY WORDS: bank, mortgage, commercial, central
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/charts showing banking Mall
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can identify a bank
(13) CONTENT:

BANK AND BANK SERVICES

What is bank?
Bank is a place where money and all other valuables are kept. Money can also be borrowed from the banks for
business activities or for personal use. It plays an important role in buying and selling and distribution activities in
the economy. It is an aid to trade.

TYPES OF BANK
There are different types of banks in Nigeria. They include;
1. Central Bank of Nigeria(CBN):- The CBN is the government bank and it acts as the banker to other banks.
2. Commercial Banks: These are the most relevant banks to trade. The carry out their commercial activities
to make profit like any other business. Some of the commercial banks in Nigeria are First bank of Nigeria
(FBN), Union bank of Nigeria (UBN), Zenith bank (PLC) etc.
3. Mortgage Bank:- These are banks that are into granting loans to individuals and co-operate bodies for
building purpose. Examples are Union Homes and Saving Ltd, AG Homes and savings Ltd etc.
4. Merchant Bank:- These are banks which perform special functions such as accepting bill of exchange,
issuing new shares, issuing loans for foreign transaction. Example is Merchant Bank of Africa.
5. Development Banks:- These are banks which provide long term credit or loans to other enterprises for
capital projects. They provide loans in the area of Agriculture, Commerce and industry

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Preview of leaning objective and key vocabulary words
3. The students as a class discuss the meaning of bank
4. The students are to mention types of bank
5. The students are corrected and commended while teacher add her own points
6. The students are allowed to ask questions and teacher gives answer
7. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Describe a bank
2. State and explain types of bank
(16) WRAP-UP: The teacher gives summary of the meaning of bank and states the types of bank
(17) ASSIGNMENT: State the four components of the channel of distribution
HOD/V.P’S COMMENTS & ENDORSEMENT:

19
 BUSINESS STUDIES LESSON NOTE FIRST TERM
(1) WEEK TEN (2) DATE: ………………….…………. (3) CLASS: JSS 2
(4) SUBJECT: BUSINESS STUDIES
(5) LESSON TITLE: BANK AND BANK SERVICES
(6) SUB-TITLE (IF ANY): Commercial banking services
(7) PERIOD: Double (8) DURATION: 80mins
(9) LEARNING OBJECTIVES: In the course of this study student will
1. Explain the services rendered by bank
2. State ethical issues in banking
(10) KEY VOCABULARY WORDS: bank, mortgage, commercial, central
(11) RESOURCES & MATERIALS: Comprehensive Business Studies for Upper levels JSS2 by Adekunle K.O. New
edition/Internet/charts showing bank
(12) BUILDING BACKGROUND/CONNECTION TO PRIOR KNOWLEDGE: Students can identify a bank
(13) CONTENT:

COMMERCIAL BANKING SERVICES

The most important function of the commercial banks is safe keeping of money until the owner needs it. Some of
the services provided by commercial banks are:
a. Opening and operating a current Account
b. Opening and operating savings account
c. Giving overdrafts to customers
d. Issuing loans
e. Issuing traveler’s cheque
f. Operating the Automated Teller Machine (ATM)
g. Operating E-Banking (Electronic Banking)

ETHICAL ISSUES IN BANKING

Banking ethics are the guidelines consisting of judgments and moral values that banks must follow strictly while
discharging their duties. These include:
1. Integrity: Bankers are expected to be honest and straightforward in all their business
2. Objectivity: Decisions reached by professional bankers are not expected to be influenced by anybody/
3. Professional competence: bankers are expected to use their sound and analytical mind to discharge their
duties.
4. Confidentiality: They are not ethically allowed to disclose all information gotten from customers in the
course of discharging their duties to the third party without his knowledge
5. Due process: Due process must be followed in all business transaction.
6. Compliance: Banks must abide by all directive of the Central Bank

(14) STRATEGIES & ACTIVITIES: Collaboration/Creative

1. Writing of topic and objectives on the board
2. Teacher makes short revision of the previous work
3. Preview of leaning objective and key vocabulary words
4. The students discuss the services rendered by commercial bank
5. The students are to mention some ethics issues in banking
6. The students are corrected and commended while teacher add her own points
7. The students are allowed to ask questions and teacher gives answer
8. The students are asked to copy the summary of the lesson on the board
(15) ASSESSMENT/EVALUATION:
1. Explain the services rendered by bank
2. State ethical issues in banking
(16) WRAP-UP: The teacher gives summary of the functions of each channel of distribution
(17) ASSIGNMENT: When does production end?
HOD/V.P’S COMMENTS & ENDORSEMENT:

20