JSS3 Second Term Business Studies Past Questions And Answers
20 JSS3 Second Term Business Studies questions with options and answers:
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.
