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