PES JS 2 Business Studies Term 1 Exam

1. The protection against the loss of property and life is

A) Communication
B) Occupation
C) Transportation
D) Insurance

2. The following is not a type of insurance

A) Administrative insurance
B) Health insurance
C) Life insurance
D) Car insurance

3. Which of the following is not a benefits of insurance

A) Peace of mind
B) Less support
C) Encourages savings
D) Financial security

4. A person who decides to start a new business ensures the potential risks is

A) None of the above
B) An Administrator
C) An Entrepreneur
D) An officer

5. The assistance that a seller provides a buyer after a good or service is sold is

A) Impulse buying
B) After sales service
C) None of the above
D) Insurance

6. A written guarantee issued to the buyer of a product by its manufacturer is called

A) Installation
B) Distribution
C) Warranty
D) Impulse buying

7. The channel through which goods pass from the hand of the producer to the final consumer is

A) Insurance
B) Distribution
C) Consumption
D) Installation

8. The channel of production which combine all factors of production to produce good that will satisfy wants and needs of consumer is

A) The Retailer
B) The Middleman
C) The Manufacturer
D) The Wholesaler

9. A trader who buys goods in large quantities from the producer and sells to retailers in small quantities is

A) The Producer
B) The Consumer
C) The Retailer
D) The Wholesaler

10. The following is not an example of a small scale retail outlet

A) Warehouse
B) Hawker
C) Stall holders
D) Kiosk

11. Which of the following is a personal quality of an entrepreneur

A) Lack of communication
B) Laziness
C) Risk taking
D) Indefinite leave

12. Favorable situations or circumstances that entrepreneurs can leverage to generate revenue and achieve their business objectives are

A) Consumer responsibilities
B) None
C) Consumer rights
D) Business opportunities

13. Duties and actions consumer should take when purchasing or using goods or services is

A) Business opportunities
B) Shopping tips
C) Consumer rights
D) Consumer responsibilities

14. Which of the following is essential for survival

A) Needs
B) Wants
C) Scarcity
D) Choice

15. An unplanned decision to buy a product or service made just before a purchase is

A) Customer responsibilities
B) None
C) Consumer rights
D) Impulse buying

16. One of the effects of impulse buying is

A) Separating items on your list
B) Feeling of guilts and regrets
C) Checking quality and safety of products
D) Globalizing markets

17. What is referred as something that is extremely necessary for a person to have in order to survive is

A) Wants
B) Needs
C) Choice
D) Opportunity

18. A small open enclosure for selling goods in small quantities is

A) Chain shops
B) Kiosk
C) Warehouse
D) Joint stocks

19. Who helps to advertise the manufacturer’s product

A) Retailer
B) Producer
C) Wholesaler
D) Consumer

20. The basic function of the manufacturer is to

A) Buy goods from the retailer and sells to the consumer
B) None
C) Buy goods from the wholesaler and sell to the retailer
D) Engage in the production of good and services

21. What Insurance protects you financially if your car is involved in a accident

A) Life insurance
B) Car insurance
C) Travel insurance
D) Home insurance

22. Which is a not a personal quality of an entrepreneur

A) Creativity
B) Good work ethic
C) Risk taking
D) Laziness

23. Needs are created through

A) Natural desires
B) Personal desires
C) Financial desires
D) None

24. A large trading organization with many department located in the same building is

A) Stall
B) A Departmental store
C) Kiosk
D) A joint store

25. Which of the following is an example of a departmental store

A) Chicken republic
B) Mr Biggs
C) None
D) Shoprite

26. Which of the following is not an example of a small scale retail outlet

A) Shops
B) Stalls
C) Kiosks
D) Retail co-operatives

27. Reporting defects, issues or any problem with products to the sellers is

A) An wholesaler’s right
B) A Consumer responsibility
C) A Retailer’s responsibility
D) A Consumer Right

28. A safety net that can help you to recover from unexpected losses is

A) Security
B) Warranty
C) Insurance
D) None

29. Trip cancellations, lost luggages is being covered by the

A) Travel insurance
B) Health insurance
C) None
D) Life insurance

30. Which is not a benefit of insurance

A) Reduced stress
B) Peace of mind
C) No financial security
D) Saving

31. Entrepreneurs can also be referred to as

A) None
B) Innovators
C) Executive officers
D) Managers

32. The type of opportunity that extends beyond national border and involves global market is

A) State business opportunity
B) International business opportunity
C) Local business opportunity
D) National business opportunity

33. Which of the following is not an element of a business opportunity

A) A means to fulfil a need
B) A need
C) A commodity
D) An entrepreneur

34. What country did Consumerism originate from

A) United States
B) Korea
C) Nigeria
D) Russia

35. Consumerism originated in the

A) None of the above
B) Late 20th centuries
C) Late 19th and early 20th centuries
D) Early 19th centuries

36. Making informed decisions is the responsibility of a

A) Consumer
B) Retailer
C) Wholesaler
D) Producer

37. Examining goods carefully that they are exactly what you want is a

A) Consumer responsibility
B) None
C) Consumer right
D) Shopping tip

38. Food and water is an example of a

A) None
B) Need
C) Commodity
D) Want

39. Asking yourself if you really need an item is a way to avoid

A) Responsible buying
B) Impulse buying
C) None of the above
D) Both of the above

40. An effect of impulse buying is

A) Responsible spending and savings
B) Waste of financial resources
C) Both of the above
D) None of the above

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