Here is the complete WAEC Commerce Syllabus 2026. This guide is an essential tool for both internal and external candidates preparing for the exam. Understanding the syllabus is the first step to success. This detailed breakdown covers the exam format, all topics, and key concepts to help you achieve an excellent grade. At MasterWaec.com, we provide the resources you need to master your WAEC subjects.
Aims and Objectives of the Syllabus
The WAEC Commerce syllabus aims to help candidates:
- Appreciate the role of Commerce and its relationship with other aspects of production.
- Understand and apply the basic concepts and principles of Commerce.
- Relate Commerce concepts to practical, real-world business situations.
WAEC Commerce Examination Scheme
The examination consists of two papers, Paper 1 and Paper 2, both of which must be taken.
Paper 1: Objective Test
- Format: 50 compulsory multiple-choice questions.
- Duration: 1 hour.
- Marks: 25% of the total marks.
Paper 2: Essay Test
- Format: 10 essay-type questions.
- Questions to Answer: Answer any five.
- Duration: 2½ hours.
- Marks: 75% of the total marks.
Detailed Commerce Syllabus Breakdown
Below is a detailed breakdown of all the topics you need to study for the WAEC Commerce exam.
1. Introduction to Commerce & Production
- Commerce: Meaning, scope, and history.
- Occupations: Types (Industry, Commerce) and Services.
- Production: Definition, factors of production, and types (Primary, Secondary, Tertiary).
2. Business Units & Capital
- Business Units: Forms of business (Sole Proprietorship, Partnership, Companies, etc.).
- Capital: Meaning and types (e.g., working capital, circulating capital).
- Profit & Turnover: Meaning and calculation.
3. Trade and Warehousing
- Trade: Purpose and branches (Home and Foreign Trade).
- Home Trade: Retail and Wholesale trade, including functions, types of outlets, and recent trends.
- Warehousing: Importance, functions, and types of warehouses.
- Channels of Distribution: Key channels and factors for choosing them.
4. Foreign Trade & Business Transactions
- International Trade: Terms like balance of trade, balance of payment, and counter trade.
- Documents: Procedures and documents for export, import, and entrepot trade.
- Barriers & Facilitators: Understand trade barriers and the roles of Customs, Ports Authority, and Export Promotion Council.
- Purchase and Sale: Procedures, documents, and terms of trade (e.g., C.O.D., C.I.F.).
5. Finance and Financial Institutions
- Money: Meaning, forms, qualities, and functions.
- Banks: Types of banks (Central, Commercial, Specialized) and types of accounts.
- Insurance: Basic principles (utmost good faith, indemnity, etc.), types, and importance.
- Stock Exchange: Meaning, functions, and types of securities.
- Credit: Meaning, types, and functions of credit unions.
6. Transport, Communication & Marketing
- Transport: Importance, forms (land, water, air), and their advantages and disadvantages.
- Communication: Importance and services provided by Post Office, Courier Agencies, etc.
- Marketing: Meaning, importance, and functions, including the marketing mix (4 P’s).
- Promotions: Advertising, public relations, sales promotion, and personal selling.
7. Legal Aspects & Consumer Protection
- Legal Issues: Areas of law related to business, such as Contract, Agency, and Sale of Goods Act.
- Government Regulation: Registration of business, patents, and trademarks.
- Consumer Protection: The need for it and means of protection (e.g., government legislation, consumer associations).
8. Economic Groupings
- African Groupings: ECOWAS, Niger Basin Commission, Lake Chad Basin Commission, and Mano River Union.
- International Bodies: IBRD, IMF, and UNCTAD.
- Key Concepts: Understand the objectives and obstacles of each grouping.
WAEC Recommended Textbooks for Commerce
To deepen your knowledge of the topics in this syllabus, here are some recommended textbooks:
- Commerce for Senior Secondary Schools by Odedokun, Udokogu and Ogiyi (Longman Nigeria).
- Commerce for Senior Secondary Schools by CESAC, Shanelson Publishers.
- Modern Commercial Knowledge by L. W. T. Stafford.
- Marketing by G. B. Giles.
- Basic Marketing by Jerome McCarthy.
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Download Complete WAEC Commerce Syllabus PDF
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Kolade Kayode, known as Mr. KK, I am a Nigerian education blogger and founder of MasterWAEC.com. Passionate about student success, I simplifies WAEC exam preparation with accurate tips and resources to help students excel.