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