ThatQuiz
|
Test Library
|
Take this test now
TAMMI BUSINESS STUDIES JSS1 1ST TERM
  • 1. 1. Business study helps students to understand the basic principles of
A) Agriculture
B) Science
C) Law
D) Trade
  • 2. 2. One of the main objectives of business is to make
A) Shoes
B) Food
C) Profit
D) Friends
  • 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) Shares profit
B) Is free from debts
C) Faces no risk
D) Makes all decisions
  • 5. 5. Commerce involves buying and selling goods and services to
A) Serve the community
B) Make communication easy
C) Satisfy human wants
D) Increase friendship
  • 6. 6. Commerce is important to the economy because it
A) Makes friends
B) Reduces prices of goods
C) Provides employment
D) Delivers goods to people's homes
  • 7. 7. Domestic trade is carried out
A) At schools
B) On the internet
C) Between countries
D) Within a country
  • 8. 8. The type of trade between two countries is called
A) International trade
B) Wholesale trade
C) Domestic trade
D) Local trade
  • 9. 9. The process of making goods or providing services is called
A) Selling
B) Production
C) Consumption
D) Distribution
  • 10. 10. The first step in production is
A) Marketing
B) Distribution
C) Consumption
D) Planning
Created with That Quiz — the site for test creation and grading in math and other subjects.