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) Business goals
C) Achievable goals
D) Smart goals
  • 2. The following are the importance of setting business goals except
A) For profit sharing
B) For Evaluation
C) For Motivation
D) For Direction
  • 3. Setting simple business goals includes the following except
A) Identifying business purpose
B) Deceiving customers
C) Conducting SWOT analysis
D) Setting SMART goals
  • 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, Weaknesses, Opportunities and Threats
B) Analysing business Strength, Workability, Opportunities and Threats
C) Analysing business Strengths, Worthiness, 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) Performance
B) Communication
C) Goals
  • 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 inequality
C) Providing Education
D) Promoting fair business practices
  • 10. ___is not an example of consumer protection agencies
A) CPA
B) NAFDAC
C) SON
D) CPC
  • 11. Standard Organization of Nigeria ___
A) Regulates food and drugs
B) Sets standards for products
C) Protect consumers' rights
  • 12. ___ is a benefit of consumer protection agencies
A) Increased Consumers' Confidence
B) Decrease Consumers' Confidence
C) Worsen Consumers' Complaints
  • 13. ___ protects consumers' rights
A) NAFDAC
B) CPC
C) SON
  • 14. __ regulates food and drugs
A) SON
B) NAFDAC
C) CPC
  • 15. ________ buy in bulk and sell to retailers
A) Retailers
B) Wholesalers
C) Distributors
  • 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) Online channels
B) Retailers
C) Wholesalers
D) Distribution
  • 18. The following are functions of distribution except
A) Storage
B) Sorting
C) Transportation
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 manage one's financial resources effectively
B) To invest in stocks
C) To save money
D) To buy luxury goods
  • 21. What is a budget
A) A list of expenses
B) A financial plan for a specific period
C) An investment
D) A savings account
  • 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 income
D) A measure of one's investment
  • 23. What is the purpose of an emergency fund
A) To invest in stocks
B) To save for retirement
C) To cover unexpected expenses
D) To pay off debt
  • 24. What is financial planning
A) Saving money
B) Creating a budget
C) Create a comprehensive plan to achieve financial goals
D) Investing in stocks
  • 25. What is the first step in making a complaint
A) Write a letter to the CEO
B) Call a lawyer
C) Clearly define the issue
D) Post about it on social media
  • 26. What should you do before making a complaint
A) Talk to friends about it
B) Gather evidence
C) Post about it online
D) Ignore the issue
  • 27. How should you approach making a complaint
A) Indifferently
B) Aggressively
C) Calmly and respectfully
  • 28. What information should you include when making a complaint
A) Only your name
B) Your personal opinion
C) Only the issue
D) The issue, relevant details, and desired resolution
  • 29. Who should you contact first when making a complaint
A) Lawyer
B) Social media
C) Customer service representative
D) CEO
  • 30. What is the purpose of documenting your complaint
A) To post online
B) To intimidate the company
C) To share with friends
D) To keep a record of the issue and communication
  • 31. How should you follow up on complaint
A) Never
B) Weekly
C) Daily
D) According to the company's stated timeline
  • 32. What is an effective way to escalate a complaint
A) Politely asking to speak to a supervisor
B) Posting negative reviews online
C) Yelling at staff
D) Threatening legal action
  • 33. What should you do if your complaint is resolved
A) Thank the representative and confirm the resolution
B) Demand further compensation
C) Share your experience on social media
D) Ignore the resolution
  • 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 promote business growth
C) To protect consumers from unfair practices
D) To regulate prices
  • 36. What type of complaint can consumer protection agencies handle
A) Only complaint about prices
B) Only service related complaint
C) Only product related complaint
D) Both product and service related complaint
  • 37. What is primary role of consumer protection agencies
A) To provide financial assistance
B) To protect consumers from unfair practices
C) To promote business growth
D) To regulate prices
  • 38. What type of complaint can consumer protection agencies handle
A) Both product and service related complaints
B) Only service related complaint
C) Only complaint about prices
D) Only product 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 offering products
D) By providing financial compensation
  • 40. Can consumer protection agencies impose fine on businesses
A) Yes
B) No
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