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