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