JSS2 Third Term Business Studies Past Questions And Answers

 

20 JSS2 Third Term Business Studies questions with options and answers:

 

Question: What is the purpose of a marketing mix in business strategy?

 

A) Evaluating competitors

B) Identifying customer needs

C) Setting financial goals

D) Creating effective promotional campaigns

Answer: D) Creating effective promotional campaigns

Question: What is the difference between a merger and an acquisition in business?

 

A) Size of the companies involved

B) Nature of the industry

C) Legal status of the companies

D) Control of ownership

Answer: D) Control of ownership

Question: In financial management, what is the purpose of working capital?

 

A) Long-term investment

B) Short-term operational needs

C) Employee salaries

D) Debt financing

Answer: B) Short-term operational needs

Question: What is the significance of a SWOT analysis in business planning?

 

A) Identifying internal and external factors

B) Analyzing financial statements

C) Calculating market share

D) Determining employee performance

Answer: A) Identifying internal and external factors

Question: What is the role of ethics in human resource management?

 

A) Maximizing profits

B) Ensuring fair treatment of employees

C) Reducing competition

D) Controlling inflation

Answer: B) Ensuring fair treatment of employees

Question: In the context of entrepreneurship, what is a business plan used for?

 

A) Setting employee salaries

B) Forecasting stock prices

C) Outlining business goals and strategies

D) Managing day-to-day operations

Answer: C) Outlining business goals and strategies

Question: What does the term “Diversification” mean in investment?

 

A) Concentrating investments in a single sector

B) Spreading investments across different assets

C) Reducing profits

D) Eliminating competition

Answer: B) Spreading investments across different assets

Question: In production management, what does “Quality Control” involve?

 

A) Increasing production costs

B) Ensuring products meet specified standards

C) Setting financial goals

D) Minimizing competition

Answer: B) Ensuring products meet specified standards

Question: What is the purpose of a mission statement in organizational management?

 

A) Controlling market demand

B) Setting long-term financial goals

C) Communicating the purpose and values of the organization

D) Analyzing market trends

Answer: C) Communicating the purpose and values of the organization

Question: Which type of marketing involves creating a unique image for a product?

 

A) Niche marketing

B) Mass marketing

C) Branding

D) Direct marketing

Answer: C) Branding

Question: What is the significance of a break-even analysis in business?

 

A) Identifying potential risks

B) Determining the point of profitability

C) Maximizing profits

D) Setting marketing goals

Answer: B) Determining the point of profitability

Question: In international trade, what is the purpose of trade barriers?

 

A) Promoting free trade

B) Restricting imports and exports

C) Encouraging competition

D) Reducing production costs

Answer: B) Restricting imports and exports

Question: What is the role of a venture capitalist in business financing?

 

A) Providing long-term loans

B) Investing in startup companies

C) Managing day-to-day operations

D) Controlling inflation

Answer: B) Investing in startup companies

Question: What does the term “Stakeholder” mean in business?

 

A) Short-term investor

B) Party with an interest in the company

C) Supplier of raw materials

D) Government regulator

Answer: B) Party with an interest in the company

Question: In organizational structure, what does “Decentralization” involve?

 

A) Centralized decision-making

B) Flexible reporting relationships

C) Equal distribution of power

D) Reducing competition

Answer: B) Flexible reporting relationships

Question: What is the purpose of a performance appraisal in human resource management?

 

A) Setting employee salaries

B) Evaluating employee job performance

C) Monitoring daily transactions

D) Analyzing market trends

Answer: B) Evaluating employee job performance

Question: What is the significance of cultural diversity in the workplace?

 

A) Increasing production costs

B) Enhancing creativity and innovation

C) Minimizing competition

D) Controlling market demand

Answer: B) Enhancing creativity and innovation

Question: What is the purpose of environmental scanning in strategic management?

 

A) Analyzing financial statements

B) Identifying potential risks and opportunities in the external environment

C) Setting employee salaries

D) Determining production quotas

Answer: B) Identifying potential risks and opportunities in the external environment

Question: In marketing, what does the term “Market Segmentation” involve?

 

A) Combining different markets into one

B) Targeting a specific group of customers

C) Reducing advertising expenses

D) Maximizing profits

Answer: B) Targeting a specific group of customers

Question: What is the significance of a customer relationship management (CRM) system in business?

 

A) Increasing production costs

B) Enhancing communication and interactions with customers

C) Reducing competition

D) Controlling inflation

Answer: B) Enhancing communication and interactions with customers.