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