AIC JSS 1 Business Studies 3rd Term Exam 2022/23
  • 1. 1. _____________ is what people do for living.
A) Robbery
B) Occupation
C) Trafficking
D) Stealing
  • 2. 2. Teaching, law, medicine, trading are examples of occupation.
A) True
B) No idea
C) None of the above
D) False
  • 3. 3. There are ________ main divisions of occupation.
A) seven
B) two
C) five
D) four
  • 4. 4. An example of indirect service is
A) military personnel
B) Bricklayer
C) housemaid
D) lesson teacher
  • 5. 5. ___________ industry extracts raw materials and natural resources from the soil and sea.
A) Tertiary
B) Constructive
C) Extractive
D) Secondary
  • 6. 6. ______________ occupation involves the process of turning raw materials into finished products
A) Purchases
B) Advertising
C) Sales
D) Manufacturing
  • 7. 7. Road building, bridge building and house building are all examples of
A) construction
B) commercial
C) direct
D) indirect
  • 8. 8. Commerce is trade and ______________
A) money
B) aids to trade
C) Business
D) aids and grants
  • 9. 9. Services that assist trade are known as
A) company
B) commerce
C) commercial
D) aids to trade
  • 10. 10. There are _________ factors of production.
A) two
B) four
C) five
D) three
  • 11. 11. The reward for land is
A) sale
B) interest
C) borrow
D) rent
  • 12. 12. The reward for capital is ____________
A) capital
B) rent
C) labour
D) interest
  • 13. 13. Mining, fishing, oil drilling are all examples of
A) renting
B) building
C) extractive
D) construction
  • 14. 14. ___________ is the making of goods and the provision of services.
A) Advertising
B) Sales
C) Production
D) Promotion
  • 15. 15. Production is made up of _______ main things.
A) three
B) two
C) five
D) four
  • 16. 16. Goods that are used to produce other goods are called
A) capital goods
B) interest
C) profit
D) capital
  • 17. 17. __________ are goods that are consumed directly by the society.
A) Capital goods
B) Commercial goods
C) Goods
D) Finished goods
  • 18. 18. Foreign trade is subdivided into export, import and
A) export
B) import
C) international
D) entrepot
  • 19. 19. ___________ is the selling of goods or services produced in Nigeria to other countries.
A) consumer
B) Export
C) International
D) import
  • 20. 20. Another name for home trade is ____________
A) domestic trade
B) foreign trade
C) foreign investment
D) foreign involvement
  • 21. 21. ___________ is the buying and selling of goods.
A) insurance
B) Trade
C) warehousing
D) banking
  • 22. 22. ___________ involves making goods and services known to the consumer.
A) Banking
B) Advertising
C) Communication
D) Insurance
  • 23. 23. ______________ involves the storage of commodities until they are required.
A) Transportation
B) Insurance
C) Trade
D) Warehousing
  • 24. 24. ___________ enables the risks associated with commerce to be pooled and shared.
A) Trade
B) Insurance
C) Advertising
D) Banking
  • 25. 25. The attributes of Fair play include the following except
A) not being patrimonial
B) reliability
C) not being nepotic
D) not covering evil deeds
  • 26. 26. Factors that cause people to steal and tell lies include all except
A) dishonesty
B) covering up misdeeds
C) reliability
D) to save face for a promise not kept
  • 27. 27. The reward of being truthful is ______________.
A) people will look down on him
B) Loss of face in the community
C) The truthful person is always respected.
D) The person is not trusted as he is considered unreliable
  • 28. 28. ____________ is a game used when players in a game or business play.
A) Fair play
B) Fair theater
C) Fair fun
D) Fun Fair
  • 29. 29. Straight forwardness in dealings with others is an/a attribute of _____________
A) Fair umpire
B) Fair play
C) Fair player
D) Fair referee
  • 30. 30. The last link in the chain or channel of distribution is known as
A) Originator
B) Producer
C) Consumer
D) Manufacturer
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