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PES JS 2 Business Studies 3rd Term Examination
Contributed by: School
  • 1. __________ are specific, measurable, achievable, relevant and time -bound objectives that a business aims to accomplish
A) Business goals
B) Smart goals
C) Achievable goals
D) Relevant goals
  • 2. The following are the importance of setting business goals except
A) For Evaluation
B) For profit sharing
C) For Motivation
D) For Direction
  • 3. Setting simple business goals includes the following except
A) Setting SMART goals
B) Conducting SWOT analysis
C) Deceiving customers
D) Identifying business purpose
  • 4. _____________ is not one of the benefits of setting simple business goals
A) It improves decision making
B) It enhances performance of entrepreneur and employees
C) It promotes communication skills
  • 5. SWOT analysis means
A) Analysing business Strengths, Weaknesses, Opportunities and Threats
B) Analysing business Strengths, Worthiness, Opportunities and Threats
C) Analysing business Strength, Workability, Opportunities and Threats
  • 6. Identifying business purpose means
A) To determine the business's mission and vision
B) To establish specific objectives
C) To expand product line
D) To improve customer satisfaction
  • 7. ___ motivate entrepreneurs and employees to perform better
A) Communication
B) Goals
C) Performance
  • 8. __ are agencies that work to protect consumers' rights and interests
A) Consumer Protection Agenda
B) Consumer Protection Agencies
C) Consumer Council Agencies
  • 9. ___ is not the importance of consumer protection agencies
A) Protecting Consumers' rights
B) Promoting fair business practices
C) Providing Education
D) Promoting inequality
  • 10. ___is not an example of consumer protection agencies
A) CPA
B) CPC
C) NAFDAC
D) SON
  • 11. Standard Organization of Nigeria ___
A) Sets standards for products
B) Protect consumers' rights
C) Regulates food and drugs
  • 12. ___ is a benefit of consumer protection agencies
A) Worsen Consumers' Complaints
B) Decrease Consumers' Confidence
C) Increased Consumers' Confidence
  • 13. ___ protects consumers' rights
A) NAFDAC
B) SON
C) CPC
  • 14. __ regulates food and drugs
A) SON
B) NAFDAC
C) CPC
  • 15. ________ buy in bulk and sell to retailers
A) Retailers
B) Wholesalers
C) Distributors
  • 16. ____ has to do with selling products directly to consumers
A) Distribution
B) Wholesalers
C) Retailers
  • 17. __ has to do with selling products through e- commerce platforms
A) Wholesalers
B) Online channels
C) Distribution
D) Retailers
  • 18. The following are functions of distribution except
A) Stock recording
B) Storage
C) Sorting
D) Transportation
  • 19. Transportation, storage and inventory management are examples of ___
A) Logistical issues
B) Distribution network
C) Direct shipping
  • 20. What is the primary goal of personal finance?
A) To save money
B) To manage one's financial resources effectively
C) To buy luxury goods
D) To invest in stocks
  • 21. What is a budget
A) A list of expenses
B) A financial plan for a specific period
C) A savings account
D) An investment
  • 22. What is a credit score
A) A measure of one's investment
B) A measure of one's savings
C) A measure of one's creditworthiness
D) A measure of one's income
  • 23. What is the purpose of an emergency fund
A) To cover unexpected expenses
B) To save for retirement
C) To invest in stocks
D) To pay off debt
  • 24. What is financial planning
A) Creating a budget
B) Create a comprehensive plan to achieve financial goals
C) Investing in stocks
D) Saving money
  • 25. What is the first step in making a complaint
A) Write a letter to the CEO
B) Clearly define the issue
C) Call a lawyer
D) Post about it on social media
  • 26. What should you do before making a complaint
A) Talk to friends about it
B) Gather evidence
C) Post about it online
D) Ignore the issue
  • 27. How should you approach making a complaint
A) Aggressively
B) Calmly and respectfully
C) Indifferently
  • 28. What information should you include when making a complaint
A) The issue, relevant details, and desired resolution
B) Only your name
C) Your personal opinion
D) Only the issue
  • 29. Who should you contact first when making a complaint
A) CEO
B) Lawyer
C) Social media
D) Customer service representative
  • 30. What is the purpose of documenting your complaint
A) To keep a record of the issue and communication
B) To post online
C) To intimidate the company
D) To share with friends
  • 31. How should you follow up on complaint
A) Daily
B) Weekly
C) Never
D) According to the company's stated timeline
  • 32. What is an effective way to escalate a complaint
A) Posting negative reviews online
B) Threatening legal action
C) Yelling at staff
D) Politely asking to speak to a supervisor
  • 33. What should you do if your complaint is resolved
A) Demand further compensation
B) Thank the representative and confirm the resolution
C) Share your experience on social media
D) Ignore the resolution
  • 34. Why is it important to stay calm when making a complaint
A) So you can get what you want
B) So you can post about it online
C) So you can intimidate the representative
D) So you can effectively communicate your issue
  • 35. What is the primary role of consumer protection agencies?
A) To promote business growth
B) To protect consumers from unfair practices
C) To regulate prices
D) To provide financial assistance
  • 36. What type of complaint can consumer protection agencies handle
A) Only service related complaint
B) Only product related complaint
C) Both product and service related complaint
D) Only complaint about prices
  • 37. What is primary role of consumer protection agencies
A) To promote business growth
B) To regulate prices
C) To protect consumers from unfair practices
D) To provide financial assistance
  • 38. What type of complaint can consumer protection agencies handle
A) Only complaint about prices
B) Only service related complaint
C) Only product related complaint
D) Both product and service related complaints
  • 39. How do consumer protection agencies help consumers
A) By investigating complaints and taking enforcement action
B) By providing financial compensation
C) By offering products
D) By meditating disputes between businesses
  • 40. Can consumer protection agencies impose fine on businesses
A) No
B) Yes
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