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