PES JS 2 Business Studies Term 1 Exam

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

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

2. The following is not a type of insurance

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

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

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

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

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

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

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

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

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

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

A) Distribution
B) Consumption
C) Insurance
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 Wholesaler
C) The Manufacturer
D) The Middleman

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 Retailer
C) The Wholesaler
D) The Consumer

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

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

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

A) Risk taking
B) Lack of communication
C) Laziness
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) Consumer rights
B) Consumer responsibilities
C) Business opportunities
D) Shopping tips

14. Which of the following is essential for survival

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

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

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

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) Opportunity
B) Choice
C) Wants
D) Needs

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

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

19. Who helps to advertise the manufacturer’s product

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

20. The basic function of the manufacturer is to

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

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

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

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

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

23. Needs are created through

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

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

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

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

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

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

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

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

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

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

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

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

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

30. Which is not a benefit of insurance

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

31. Entrepreneurs can also be referred to as

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

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

34. What country did Consumerism originate from

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

35. Consumerism originated in the

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

36. Making informed decisions is the responsibility of a

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

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

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

38. Food and water is an example of a

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

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

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

40. An effect of impulse buying is

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

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