Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved.
Subject: BUSINESS STUDIES Duration: 2HR Class: JSS 1
SECTION A: INSTRUCTION: Answer all the questions in this section.
1. _________ is the distribution and exchange of goods and services. (a) insurance
(b) commerce (c) banking (d) book keeping
2. Which of the following persons is not an office worker? (a) receptionist (b) hawker
(c) messenger (d) accountant
3. Commercial services are broadly divided into ______ and _______ (a) direct and indirect
(b) directory (c) direct and various (d) diverse and direct
4. An aids to trade that compensates when there is loss of life or prosperity is ______
(a) banking (b) insurance (c) advertising (d) warehousing
5. Which of the following is NOT a reward for being truthful? (a) good reputation (b) bad reputation (c) promotion (d) useful suggestion
6. The two major divisions of trade are _____and ______ (a) commerce and industry (b) home and foreign (c) import and export (d) wholesale and retail
7. Keeping records of all members of staff including their transfers, promotions, appraisal, e.t.c are functions of _________ department. (a) production (b) personnel (c) sales (d) transport
8. Which of the following is NOT a professional in Business studies? (a) banker (b) secretary (c) lawyer (d) economist
9. A company gets the following as a reward of adhering to honesty in business except _______ (a) good customer relationship (b) loyalty of people (c) patronage of customer (d) dubious business dealing
10. The act of passing information from one place to another is called ______ (a) transport (b) insurance (c) communication (d) warehousing
11. Import and export are components of _______(a) home trade (b) distribution (c) commerce (d) foreign trade
12. All human efforts whether physically or mentally directed towards the production of wealth is _____ (a) land (b) labor (c) capital (d) entrepreneur
13. All chemicals sold in Nigeria must be registered with _________ (a) NBTE (b) NABTEB (c) NAFDAC (d) House of Assembly
14. Keeping a person in check or on their guard to ensure that they are complying with rules and regulations is known as ___________________ (a) acknowledging (b) knowing (c) showing off (d) monitoring
15. All except one are forms of business (a) co-operative society (b) partnership (c) public/private company (d) Nigeria labour congress
16. The production of goods and supply of services require __________ (a) land, labor, management, money (b) land, labour, money and raw materials (c) land, labour, cash and enterprise (d) land, labour, capital and entrepreneurs
17. Ethics refer to ______ (a) values of the school (b) values and rules of a school (c) values, rules and behavior that govern people (d) values and rules governing school exams
18. All except one are factors that cause people to steal or tell lies (a) to cover up bad behavior (b) dishonesty (c) to become popular (d) to save face over a promise not kept

19. The following except one are all extractive occupations (a) agriculture (b) oil drilling
(c) teaching (d) fishing
20. All except one are the features of an entrepreneur (a) brings the capital (b) is fixed asset
(c) determines what is to be produce (d) employs labor
21. A consumer must derive ______ from every goods used. (a) joy (b) satisfaction (c) asset
(d) product.
22. An entrepreneur must be able to ______ for the business. (a) cry (b) undertake risk (c) write (d) jump
23. _______ the reward of an entrepreneur. (a) salaries/wages (b) rent (c) profit (d) interest
24. Entrepreneurship brings about _________ in the economy (a) growth (b) building (c) books (d) laws
25. If chemicals are not properly handled, they could cause the following except ________
(a) harm (b) happiness (c) burn (d) death
26. Which of the following occupations is against the law of Nigeria? (a) farming (b) teaching (c) smuggling (d) trading
27. Which of the following industries takes raw materials from the earth? (a) distribution
(b) manufacturer (c) extractive (d) construction
28. The money paid to an employee for services rendered is called ________ (a) rent
(b) commission (c) gain (d) salaries/wages
29. Machines are called capital goods because ______ (a) they are not easy to get (b) they help in the production of other goods (c) they are very cheap (d) they are not easy to get
30. Buying and selling of goods is known as _______ (a) distribution (b) trade (c) exchange
(d) economics
INSTRUCTION : Answer any three questions in this section
1a. Define occupation
b. List and explain four factors which affect occupation.
c. Differentiate between direct and indirect service
2a. What is truthfulness in business?
b. List and explain four attributes of being truthful.
c. Outline four factors that cause people to lie.
3a. Define entrepreneurhip.
b. List four importance of entrepreneurship.
c. Outline five seccessful entrepreneurs in Nigeria.
4a. Define (i) sole proprietorship (ii) partnership
b. State four advantages of sole proprietorship
c. List four characteristics of partnership
5. Explain in detail any four (4) of the following
I. Consumer
II. Capital
III. Land Iv. Book – keeping
V. Entrepreneur


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