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) Smart goals
D) Achievable goals
  • 2. The following are the importance of setting business goals except
A) For Evaluation
B) For profit sharing
C) For Motivation
D) For Direction
  • 3. Setting simple business goals includes the following except
A) Deceiving customers
B) Identifying business purpose
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 improves decision making
C) It promotes communication skills
  • 5. SWOT analysis means
A) Analysing business Strengths, Worthiness, Opportunities and Threats
B) Analysing business Strength, Workability, Opportunities and Threats
C) Analysing business Strengths, Weaknesses, Opportunities and Threats
  • 6. Identifying business purpose means
A) To determine the business's mission and vision
B) To establish specific objectives
C) To expand product line
D) To improve customer satisfaction
  • 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 Council Agencies
B) Consumer Protection Agenda
C) Consumer Protection Agencies
  • 9. ___ is not the importance of consumer protection agencies
A) Promoting fair business practices
B) Providing Education
C) Promoting inequality
D) Protecting Consumers' rights
  • 10. ___is not an example of consumer protection agencies
A) NAFDAC
B) CPC
C) SON
D) CPA
  • 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) Worsen Consumers' Complaints
B) Decrease Consumers' Confidence
C) Increased Consumers' Confidence
  • 13. ___ protects consumers' rights
A) SON
B) NAFDAC
C) CPC
  • 14. __ regulates food and drugs
A) NAFDAC
B) SON
C) CPC
  • 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) Distribution
B) Wholesalers
C) Retailers
  • 17. __ has to do with selling products through e- commerce platforms
A) Retailers
B) Distribution
C) Wholesalers
D) Online channels
  • 18. The following are functions of distribution except
A) Stock recording
B) Sorting
C) Transportation
D) Storage
  • 19. Transportation, storage and inventory management are examples of ___
A) Logistical issues
B) Direct shipping
C) Distribution network
  • 20. What is the primary goal of personal finance?
A) To invest in stocks
B) To manage one's financial resources effectively
C) To buy luxury goods
D) To save money
  • 21. What is a budget
A) An investment
B) A list of expenses
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 income
C) A measure of one's creditworthiness
D) A measure of one's savings
  • 23. What is the purpose of an emergency fund
A) To pay off debt
B) To invest in stocks
C) To cover unexpected expenses
D) To save for retirement
  • 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) Call a lawyer
B) Post about it on social media
C) Clearly define the issue
D) Write a letter to the CEO
  • 26. What should you do before making a complaint
A) Ignore the issue
B) Gather evidence
C) Talk to friends about it
D) Post about it online
  • 27. How should you approach making a complaint
A) Indifferently
B) Calmly and respectfully
C) Aggressively
  • 28. What information should you include when making a complaint
A) The issue, relevant details, and desired resolution
B) Only the issue
C) Only your name
D) Your personal opinion
  • 29. Who should you contact first when making a complaint
A) Lawyer
B) CEO
C) Customer service representative
D) Social media
  • 30. What is the purpose of documenting your complaint
A) To keep a record of the issue and communication
B) To intimidate the company
C) To post online
D) To share with friends
  • 31. How should you follow up on complaint
A) Weekly
B) According to the company's stated timeline
C) Daily
D) Never
  • 32. What is an effective way to escalate a complaint
A) Threatening legal action
B) Politely asking to speak to a supervisor
C) Posting negative reviews online
D) Yelling at staff
  • 33. What should you do if your complaint is resolved
A) Thank the representative and confirm the resolution
B) Demand further compensation
C) Ignore the resolution
D) Share your experience on social media
  • 34. Why is it important to stay calm when making a complaint
A) So you can get what you want
B) So you can intimidate the representative
C) So you can post about it online
D) So you can effectively communicate your issue
  • 35. What is the 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
  • 36. What type of complaint can consumer protection agencies handle
A) Only complaint about prices
B) Both product and service related complaint
C) Only product related complaint
D) Only service related complaint
  • 37. What is 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
  • 38. What type of complaint can consumer protection agencies handle
A) Only complaint about prices
B) Both product and service related complaints
C) Only product related complaint
D) Only service related complaint
  • 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) Yes
B) No
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