MARKING SCHEME FOR JSS1 BUSINESS STUDIES SECOND TERM EXAMINATION

SECTION A: OBJECTIVE TEST

1.(a) Commerce is the study of trade and aids to trade.

It is concerned with the buying, selling and distribution of goods and services.

(2 marks)

1.(b) Branches of commerce are

Trade: This is the buying and selling of goods and services.
Aids to trade: These are the various activities that facilitate trade. They are the activities that make trade easier. That is, they support trade.

(1½ marks each for any correct answer = 2 marks)

1.(c) Activities that aid commerce are;

Banking: These services are provided by banks set up to aid business activities. They provide capital for the business.
Tourism: This is the visiting of places of interest for fun and educational purposes. Business activities are always boosted at such places
E-Commerce: This electronic commerce entails buying and selling through the internet.

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