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