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