Question: What is the role of Human Resource Management (HRM) in a business?
A) Financial analysis
B) Employee recruitment and management
C) Marketing strategies
D) Product development
Answer: B) Employee recruitment and management
Question: In business, what is the purpose of a feasibility study?
A) Evaluate the practicality and potential success of a project
B) Advertise products
C) Monitor daily transactions
D) Track employee performance
Answer: A) Evaluate the practicality and potential success of a project
Question: What does the term “E-commerce” refer to in business?
A) Efficient communication
B) Electronic transactions over the internet
C) Economic strategies
D) Employee training programs
Answer: B) Electronic transactions over the internet
Question: What is the purpose of a cash flow statement?
A) To summarize revenue and expenses
B) To track daily transactions
C) To show the inflow and outflow of cash in a business
D) To analyze market trends
Answer: C) To show the inflow and outflow of cash in a business
Question: What is the significance of ethics in marketing?
A) To deceive customers
B) To maximize profits
C) To ensure fair and honest practices
D) To eliminate competition
Answer: C) To ensure fair and honest practices
Question: What is the purpose of a memorandum in business communication?
A) To advertise products
B) To record financial transactions
C) To communicate internal information within a company
D) To enforce government regulations
Answer: C) To communicate internal information within a company
Question: In business, what is the meaning of the term “ROI”?
A) Return on Investment
B) Rate of Inflation
C) Revenue on Investment
D) Relative Operating Income
Answer: A) Return on Investment
Question: What is the purpose of a production plan in manufacturing?
A) To increase costs
B) To minimize employee satisfaction
C) To ensure efficient production processes
D) To avoid quality control
Answer: C) To ensure efficient production processes
Question: What is the main goal of corporate social responsibility (CSR) in business?
A) Maximize profits
B) Improve employee satisfaction
C) Contribute to the well-being of society
D) Eliminate competition
Answer: C) Contribute to the well-being of society
Question: What is the purpose of a stock exchange in the financial market?
A) To regulate prices of goods
B) To facilitate buying and selling of stocks
C) To oversee marketing strategies
D) To control inflation rates
Answer: B) To facilitate buying and selling of stocks
Question: What is the significance of branding in marketing?
A) To decrease customer loyalty
B) To confuse consumers
C) To differentiate a product from competitors
D) To reduce production costs
Answer: C) To differentiate a product from competitors
Question: What is the purpose of insurance in business?
A) To increase profits
B) To protect against financial losses and risks
C) To advertise products
D) To manage human resources
Answer: B) To protect against financial losses and risks
Question: What is the meaning of the term “market segmentation” in marketing?
A) Combining various markets into one
B) Dividing the market into distinct groups based on characteristics
C) Reducing competition in the market
D) Increasing the price of products
Answer: B) Dividing the market into distinct groups based on characteristics
Question: What is the significance of the Federal Reserve in the U.S. economy?
A) To regulate international trade
B) To oversee marketing strategies
C) To control monetary policy and stabilize the economy
D) To manage human resources
Answer: C) To control monetary policy and stabilize the economy
Question: What does the term “brand loyalty” mean in marketing?
A) Consumers’ preference for a particular brand and repeat purchasing
B) A decrease in the popularity of a brand
C) The cost of advertising a brand
D) Consumer resistance to a brand
Answer: A) Consumers’ preference for a particular brand and repeat purchasing
Question: In business, what is the purpose of a sales forecast?
A) To reduce production costs
B) To maximize profits
C) To predict future sales and plan accordingly
D) To control inflation rates
Answer: C) To predict future sales and plan accordingly
Question: What is the role of entrepreneurship in economic development?
A) To decrease competition
B) To maximize profits
C) To create jobs and foster innovation
D) To regulate financial institutions
Answer: C) To create jobs and foster innovation
Question: What is the purpose of a performance appraisal in human resource management?
A) To decrease employee satisfaction
B) To eliminate competition
C) To assess and evaluate employee performance
D) To increase production costs
Answer: C) To assess and evaluate employee performance
Question: What is the significance of international trade in the global economy?
A) To decrease market competition
B) To regulate prices of goods
C) To promote economic growth and exchange of goods and services
D) To minimize production costs
Answer: C) To promote economic growth and exchange of goods and services
Question: What is the purpose of a contingency plan in business management?
A) To increase profits
B) To advertise products
C) To outline actions to be taken in case of unexpected events
D) To enforce government regulations
Answer: C) To outline actions to be taken in case of unexpected events.
FAQs
What topics are commonly covered in JSS3 Second Term Business Studies past questions?
JSS3 Second Term Business Studies past questions typically cover topics such as trade and commerce, types of business organizations, principles of bookkeeping, sources of finance, and basic economic concepts. Questions may also focus on practical applications like preparing simple financial statements, understanding entrepreneurship, and the functions of money.
How can I access JSS3 Second Term Business Studies past questions and answers?
You can access past questions and answers through school-provided resources, education websites, or past question compilations published by authors for junior secondary school exams. Some schools also provide past question booklets during revision periods, while online forums and educational platforms may offer downloadable PDFs.
Are the past questions enough to prepare for the JSS3 Second Term Business Studies exams?
Past questions are a great tool for exam preparation because they help students understand the format and style of questions asked. However, they should be complemented with proper study of textbooks, class notes, and exercises to ensure full understanding of concepts. Practicing past questions also improves time management and accuracy during the exam.
Do the answers in the past question compilations follow the exact marking scheme of the exams?
Most past question compilations provide suggested answers based on standard textbook content and common exam expectations. While they are useful for practice, students should be aware that actual exam marking schemes may vary slightly, so answers should be written clearly and concisely according to the examiners’ guidelines.
Also Read: JSS2 First Term Civic Education Past Questions and Answers
