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2015 WAEC Commerce Theory (a) With the aid of a diagram, show the different classes of occupation. (b) What...

Commerce
WAEC 2015

(a) With the aid of a diagram, show the different classes of occupation.

(b) What is occupation?

(c) Explain with one example each, three classes of occupation shown in 1 (b) above.
 

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Explanation

(a) Occupation is any productive activity in which a person is engaged permanently and which occupies his productive time. OR Occupation is any activity which people engage themselves in order to earn a living, e.g. medicine, driving. 

(b) 

(c) CLASSES OF OCCUPATION

i. Industrial occupation: This is concerned with all the activities aimed at actual production either by extraction or changing the shape of extracted goods through manufacturing and construction. Examples : Engineering, Mining, Manufacturing. etc.

ii. Commercial occupation ;This involves all the activities that facilitate exchange of goods and services. These activities include trade and its acillaries. Examples are trading, insurance, branding, warehousing etc.

iii. Services: This involves the rendering of services that people use but cannot be touched physically. E.g. Teaching, Barbing, factoring, policing. 


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