JSS 1 BUSINESS STUDIES
- ———— can be referred to the situation in which a person says only what is true (a) honesty (b) truthfulness (c) facts (d) forthrightness
- One of the following is NOT an aid to trade (a) Banking (b) Insurance (c) Advertising (d) Stock
- The place where goods are stored until they are needed is known as ———— (a) Space bar (b) room (c) bank-house (d) warehouse
- One of the following is a factor of production (a) land (b) agriculture (c) industry (d) rent
- Coal mining is an example of ……… (a) Constructive industry (b) extractive industry (c) direct service (d) tertiary production
- The business financed, formed and controlled by one person is termed ……. (a) Corporation (b) partnership (c) sole proprietorship (d) cooperative society
- The factor that coordinates or makes use of the other factors of production is the …… (a) Land (b) capital (c) labour (d) entrepreneur
- Staff matters in any organization are treated by …….. (a) Personnel department (b) production department (c) sales department (d) finance department
- The role of insurance in commerce is essentially to ……… (a) Prevent damage (b)minimize business risk (c) prevent wasteful ventures (d) none of the above
- Which of the following is not an extractive occupation (a) Dentistry (b) farming (c) fishing (d) Mining?
- ………. Is the reward of land (a) Entrepreneur (b) Money (c) Capital (d) Rent?
- The written agreement between partners is (a) partners document (b) partners salary (c) partnership deed (d) partnership business
- Land is to rent as capital is to ……… (a) Rent age (b) interest (c) wages (d) states in Nigeria
- Which of the following is not a characteristic of a sole trader?
(a) He provides capital alone (b) He makes decisions on his own (c) He shares his profits with his partner (d) He takes all the profit or loss - Coal mining is an example of ………….. (a) Constructive industry (b) extractive industry (c) direct service (d) tertiary production.
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