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TAMMI BUSINESS STUDIES JSS1 1ST TERM
  • 1. 1. Business study helps students to understand the basic principles of
A) Science
B) Trade
C) Agriculture
D) Law
  • 2. 2. One of the main objectives of business is to make
A) Food
B) Shoes
C) Friends
D) Profit
  • 3. 3. A business owned and run by one person is called a
A) Cooperative
B) Partnership
C) Sole proprietorship
D) Corporation
  • 4. 4. A major advantage of sole proprietorship is that the owner
A) Faces no risk
B) Is free from debts
C) Shares profit
D) Makes all decisions
  • 5. 5. Commerce involves buying and selling goods and services to
A) Make communication easy
B) Serve the community
C) Increase friendship
D) Satisfy human wants
  • 6. 6. Commerce is important to the economy because it
A) Provides employment
B) Makes friends
C) Delivers goods to people's homes
D) Reduces prices of goods
  • 7. 7. Domestic trade is carried out
A) At schools
B) Within a country
C) Between countries
D) On the internet
  • 8. 8. The type of trade between two countries is called
A) Local trade
B) Domestic trade
C) Wholesale trade
D) International trade
  • 9. 9. The process of making goods or providing services is called
A) Consumption
B) Selling
C) Production
D) Distribution
  • 10. 10. The first step in production is
A) Planning
B) Consumption
C) Marketing
D) Distribution
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