Third Term SS1 Economics Lesson Note

Description

This lesson note covers the following topics for SS1 Third Term Economics:

1             Revision of  Second Term Unified Examination

DISTRIBUTIVE TRADE

Meaning

Chain of Distribution.

Process of Distribution

Wholesalers (Functions to Producers and Retailers).

Retailers (Functions to Wholesaler and Customers).

2             MIDDLEMEN

Argument For or Against the Elimination of Middlemen

Problems of Product Distribution in Nigeria

Ways of Improving the System of Distribution of Consumer Goods in West Africa.

Roles of Government Agencies in Product Distribution

3             MONEY

Definition of money and its origin

Trade by Barter system and its deficiencies

Kinds / Types of Money

Characteristics of Money

Functions of Money

4             FINANCIAL INSTITUTIONS

Meaning of Financial Institutions

Types of Financial Institution

Commercial Banks

Meaning of Commercial Banks

Characteristics of Commercial Banks

Functions and Creation of Credit and its Limitations

Central Bank

Meaning of Central Bank

Characteristics of Central Bank

Functions and Weapons of Controlling Commercial Banks

5             CONCEPT OF DEMAND AND SUPPLY

               DEMAND

Meaning of Demand

Law of Demand

Schedule and Curve

Types of Demand

Factors Affecting Demand

6             SUPPLY

Meaning of Supply

Law of Supply

Schedule and Curve

Types of Supply

Factors Affecting Supply

7             EQUILIBRIUM PRICE/PRICE DETERMINATION

Meaning

Use of Hypothetical Schedule and Graph to Determine Equilibrium Price

Calculation from Hypothetical Table from Equations of Demand and Supply (i.e. Qd = Qs)

Price System

Meaning of Price System

Functions and Other Means of Determining Prices

8             THE NATURE OF THE NIGERIAN ECONOMY

General Overview of the Nigerian Economy

Nature and Structure of Industries in Nigeria

Contributions of Primary, Secondary and Tertiary Sectors

Explain Economic Activities of the Six GeoPolitical Zones

9             AGRICULTURE

Meaning of Agriculture

Components/Structures

Systems of Agriculture

Contributions to the Economy

Problems and Solutions of Agriculture

Agricultural Policies in Nigeria (OFN, RBOA, NAFPP, Green Revolution)

10           MINING

Meaning

Components of the Nigerian Mining Industry

Minerals (Types, Uses and Locations)

11           Revision

12 – 13    Examination

 

REFERENCE BOOK

• Amplified and Simplified Economics for Senior Secondary School by Femi Longe
• Comprehensive Economics for Senior Secondary School by J.V. Anyaele
• Fundamentals of Economics for SSS By. R.A.I. Anyanwuocha

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