PES JS 2 Business Studies 3rd Term Examination
  • 1. __________ are specific, measurable, achievable, relevant and time -bound objectives that a business aims to accomplish
A) Achievable goals
B) Relevant goals
C) Smart goals
D) Business goals
  • 2. The following are the importance of setting business goals except
A) For Motivation
B) For Evaluation
C) For Direction
D) For profit sharing
  • 3. Setting simple business goals includes the following except
A) Setting SMART goals
B) Conducting SWOT analysis
C) Identifying business purpose
D) Deceiving customers
  • 4. _____________ is not one of the benefits of setting simple business goals
A) It promotes communication skills
B) It improves decision making
C) It enhances performance of entrepreneur and employees
  • 5. SWOT analysis means
A) Analysing business Strengths, Worthiness, Opportunities and Threats
B) Analysing business Strength, Workability, Opportunities and Threats
C) Analysing business Strengths, Weaknesses, Opportunities and Threats
  • 6. Identifying business purpose means
A) To determine the business's mission and vision
B) To establish specific objectives
C) To expand product line
D) To improve customer satisfaction
  • 7. ___ motivate entrepreneurs and employees to perform better
A) Goals
B) Performance
C) Communication
  • 8. __ are agencies that work to protect consumers' rights and interests
A) Consumer Protection Agencies
B) Consumer Protection Agenda
C) Consumer Council Agencies
  • 9. ___ is not the importance of consumer protection agencies
A) Protecting Consumers' rights
B) Promoting fair business practices
C) Providing Education
D) Promoting inequality
  • 10. ___is not an example of consumer protection agencies
A) SON
B) CPC
C) NAFDAC
D) CPA
  • 11. Standard Organization of Nigeria ___
A) Regulates food and drugs
B) Protect consumers' rights
C) Sets standards for products
  • 12. ___ is a benefit of consumer protection agencies
A) Decrease Consumers' Confidence
B) Increased Consumers' Confidence
C) Worsen Consumers' Complaints
  • 13. ___ protects consumers' rights
A) CPC
B) NAFDAC
C) SON
  • 14. __ regulates food and drugs
A) NAFDAC
B) SON
C) CPC
  • 15. ________ buy in bulk and sell to retailers
A) Distributors
B) Retailers
C) Wholesalers
  • 16. ____ has to do with selling products directly to consumers
A) Distribution
B) Retailers
C) Wholesalers
  • 17. __ has to do with selling products through e- commerce platforms
A) Wholesalers
B) Online channels
C) Distribution
D) Retailers
  • 18. The following are functions of distribution except
A) Storage
B) Stock recording
C) Transportation
D) Sorting
  • 19. Transportation, storage and inventory management are examples of ___
A) Distribution network
B) Logistical issues
C) Direct shipping
  • 20. What is the primary goal of personal finance?
A) To manage one's financial resources effectively
B) To save money
C) To buy luxury goods
D) To invest in stocks
  • 21. What is a budget
A) A savings account
B) An investment
C) A list of expenses
D) A financial plan for a specific period
  • 22. What is a credit score
A) A measure of one's income
B) A measure of one's investment
C) A measure of one's savings
D) A measure of one's creditworthiness
  • 23. What is the purpose of an emergency fund
A) To save for retirement
B) To cover unexpected expenses
C) To invest in stocks
D) To pay off debt
  • 24. What is financial planning
A) Creating a budget
B) Create a comprehensive plan to achieve financial goals
C) Saving money
D) Investing in stocks
  • 25. What is the first step in making a complaint
A) Clearly define the issue
B) Post about it on social media
C) Call a lawyer
D) Write a letter to the CEO
  • 26. What should you do before making a complaint
A) Gather evidence
B) Ignore the issue
C) Post about it online
D) Talk to friends about it
  • 27. How should you approach making a complaint
A) Calmly and respectfully
B) Aggressively
C) Indifferently
  • 28. What information should you include when making a complaint
A) The issue, relevant details, and desired resolution
B) Your personal opinion
C) Only your name
D) Only the issue
  • 29. Who should you contact first when making a complaint
A) Lawyer
B) Social media
C) CEO
D) Customer service representative
  • 30. What is the purpose of documenting your complaint
A) To post online
B) To intimidate the company
C) To keep a record of the issue and communication
D) To share with friends
  • 31. How should you follow up on complaint
A) According to the company's stated timeline
B) Daily
C) Never
D) Weekly
  • 32. What is an effective way to escalate a complaint
A) Posting negative reviews online
B) Yelling at staff
C) Politely asking to speak to a supervisor
D) Threatening legal action
  • 33. What should you do if your complaint is resolved
A) Share your experience on social media
B) Ignore the resolution
C) Thank the representative and confirm the resolution
D) Demand further compensation
  • 34. Why is it important to stay calm when making a complaint
A) So you can post about it online
B) So you can intimidate the representative
C) So you can effectively communicate your issue
D) So you can get what you want
  • 35. What is the primary role of consumer protection agencies?
A) To provide financial assistance
B) To regulate prices
C) To promote business growth
D) To protect consumers from unfair practices
  • 36. What type of complaint can consumer protection agencies handle
A) Only product related complaint
B) Only complaint about prices
C) Both product and service related complaint
D) Only service related complaint
  • 37. What is primary role of consumer protection agencies
A) To protect consumers from unfair practices
B) To promote business growth
C) To provide financial assistance
D) To regulate prices
  • 38. What type of complaint can consumer protection agencies handle
A) Only complaint about prices
B) Both product and service related complaints
C) Only product related complaint
D) Only service related complaint
  • 39. How do consumer protection agencies help consumers
A) By meditating disputes between businesses
B) By providing financial compensation
C) By investigating complaints and taking enforcement action
D) By offering products
  • 40. Can consumer protection agencies impose fine on businesses
A) No
B) Yes
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