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