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