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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) Law
B) Agriculture
C) Trade
D) Science
  • 2. 2. One of the main objectives of business is to make
A) Shoes
B) Food
C) Profit
D) Friends
  • 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) Shares profit
B) Is free from debts
C) Makes all decisions
D) Faces no risk
  • 5. 5. Commerce involves buying and selling goods and services to
A) Satisfy human wants
B) Increase friendship
C) Make communication easy
D) Serve the community
  • 6. 6. Commerce is important to the economy because it
A) Makes friends
B) Provides employment
C) Delivers goods to people's homes
D) Reduces prices of goods
  • 7. 7. Domestic trade is carried out
A) Between countries
B) At schools
C) On the internet
D) Within a country
  • 8. 8. The type of trade between two countries is called
A) Domestic trade
B) International trade
C) Local trade
D) Wholesale trade
  • 9. 9. The process of making goods or providing services is called
A) Consumption
B) Distribution
C) Selling
D) Production
  • 10. 10. The first step in production is
A) Distribution
B) Planning
C) Consumption
D) Marketing
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