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