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) Business goals
B) Smart goals
C) Relevant goals
D) Achievable goals
  • 2. The following are the importance of setting business goals except
A) For Evaluation
B) For Direction
C) For Motivation
D) For profit sharing
  • 3. Setting simple business goals includes the following except
A) Conducting SWOT analysis
B) Deceiving customers
C) Setting SMART goals
D) Identifying business purpose
  • 4. _____________ is not one of the benefits of setting simple business goals
A) It improves decision making
B) It enhances performance of entrepreneur and employees
C) It promotes communication skills
  • 5. SWOT analysis means
A) Analysing business Strengths, Worthiness, Opportunities and Threats
B) Analysing business Strengths, Weaknesses, Opportunities and Threats
C) Analysing business Strength, Workability, Opportunities and Threats
  • 6. Identifying business purpose means
A) To improve customer satisfaction
B) To determine the business's mission and vision
C) To expand product line
D) To establish specific objectives
  • 7. ___ motivate entrepreneurs and employees to perform better
A) Performance
B) Goals
C) Communication
  • 8. __ are agencies that work to protect consumers' rights and interests
A) Consumer Protection Agencies
B) Consumer Council Agencies
C) Consumer Protection Agenda
  • 9. ___ is not the importance of consumer protection agencies
A) Providing Education
B) Promoting inequality
C) Promoting fair business practices
D) Protecting Consumers' rights
  • 10. ___is not an example of consumer protection agencies
A) CPC
B) SON
C) CPA
D) NAFDAC
  • 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) Worsen Consumers' Complaints
C) Increased Consumers' Confidence
  • 13. ___ protects consumers' rights
A) SON
B) NAFDAC
C) CPC
  • 14. __ regulates food and drugs
A) SON
B) CPC
C) NAFDAC
  • 15. ________ buy in bulk and sell to retailers
A) Wholesalers
B) Retailers
C) Distributors
  • 16. ____ has to do with selling products directly to consumers
A) Wholesalers
B) Distribution
C) Retailers
  • 17. __ has to do with selling products through e- commerce platforms
A) Distribution
B) Online channels
C) Wholesalers
D) Retailers
  • 18. The following are functions of distribution except
A) Storage
B) Transportation
C) Sorting
D) Stock recording
  • 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 buy luxury goods
B) To save money
C) To manage one's financial resources effectively
D) To invest in stocks
  • 21. What is a budget
A) A savings account
B) A list of expenses
C) A financial plan for a specific period
D) An investment
  • 22. What is a credit score
A) A measure of one's creditworthiness
B) A measure of one's savings
C) A measure of one's investment
D) A measure of one's income
  • 23. What is the purpose of an emergency fund
A) To cover unexpected expenses
B) To pay off debt
C) To save for retirement
D) To invest in stocks
  • 24. What is financial planning
A) Create a comprehensive plan to achieve financial goals
B) Creating a budget
C) Saving money
D) Investing in stocks
  • 25. What is the first step in making a complaint
A) Post about it on social media
B) Call a lawyer
C) Write a letter to the CEO
D) Clearly define the issue
  • 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) Aggressively
B) Calmly and respectfully
C) Indifferently
  • 28. What information should you include when making a complaint
A) Only the issue
B) The issue, relevant details, and desired resolution
C) Only your name
D) Your personal opinion
  • 29. Who should you contact first when making a complaint
A) Social media
B) Customer service representative
C) CEO
D) Lawyer
  • 30. What is the purpose of documenting your complaint
A) To share with friends
B) To post online
C) To keep a record of the issue and communication
D) To intimidate the company
  • 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) Threatening legal action
B) Posting negative reviews online
C) Yelling at staff
D) Politely asking to speak to a supervisor
  • 33. What should you do if your complaint is resolved
A) Share your experience on social media
B) Thank the representative and confirm the resolution
C) Ignore 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 protect consumers from unfair practices
B) To regulate prices
C) To promote business growth
D) To provide financial assistance
  • 36. What type of complaint can consumer protection agencies handle
A) Both product and service related complaint
B) Only product related complaint
C) Only complaint about prices
D) Only service related complaint
  • 37. What is primary role of consumer protection agencies
A) To regulate prices
B) To promote business growth
C) To protect consumers from unfair practices
D) To provide financial assistance
  • 38. What type of complaint can consumer protection agencies handle
A) Both product and service related complaints
B) Only product related complaint
C) Only complaint about prices
D) Only service related complaint
  • 39. How do consumer protection agencies help consumers
A) By investigating complaints and taking enforcement action
B) By meditating disputes between businesses
C) By providing financial compensation
D) By offering products
  • 40. Can consumer protection agencies impose fine on businesses
A) No
B) Yes
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