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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) Trade
B) Law
C) Agriculture
D) Science
  • 2. 2. One of the main objectives of business is to make
A) Profit
B) Shoes
C) Friends
D) Food
  • 3. 3. A business owned and run by one person is called a
A) Corporation
B) Cooperative
C) Sole proprietorship
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) Increase friendship
C) Serve the community
D) Make communication easy
  • 6. 6. Commerce is important to the economy because it
A) Makes friends
B) Delivers goods to people's homes
C) Reduces prices of goods
D) Provides employment
  • 7. 7. Domestic trade is carried out
A) Between countries
B) Within a country
C) On the internet
D) At schools
  • 8. 8. The type of trade between two countries is called
A) International trade
B) Wholesale trade
C) Domestic trade
D) Local trade
  • 9. 9. The process of making goods or providing services is called
A) Production
B) Consumption
C) Selling
D) Distribution
  • 10. 10. The first step in production is
A) Consumption
B) Marketing
C) Distribution
D) Planning
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