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