JSS3 Third Term Business Studies Past Questions And Answers
20 JSS3 Third Term Business Studies questions with options and answers:
Question: What is the significance of globalization in the business world?
A) To limit cultural exchange
B) To promote international trade and communication
C) To decrease market competition
D) To eliminate local businesses
Answer: B) To promote international trade and communication
Question: In business, what is the purpose of a cost-benefit analysis?
A) To increase costs
B) To minimize employee satisfaction
C) To evaluate the potential benefits of a decision compared to its costs
D) To avoid quality control
Answer: C) To evaluate the potential benefits of a decision compared to its costs
Question: What is the role of a supply chain in business operations?
A) To decrease production costs
B) To minimize employee satisfaction
C) To manage the flow of goods and services from production to consumption
D) To regulate international trade
Answer: C) To manage the flow of goods and services from production to consumption
Question: What is the meaning of the term “brand image” in marketing?
A) The cost of advertising a brand
B) Consumers’ perception and impression of a brand
C) A decrease in the popularity of a brand
D) The price of a product
Answer: B) Consumers’ perception and impression of a brand
Question: What is the purpose of a franchise in business?
A) To increase profits
B) To advertise products
C) To allow individuals to operate a business under an established brand
D) To regulate financial institutions
Answer: C) To allow individuals to operate a business under an established brand
Question: What is the role of technology in modern business management?
A) To decrease productivity
B) To minimize employee satisfaction
C) To enhance efficiency and improve communication
D) To avoid quality control
Answer: C) To enhance efficiency and improve communication
Question: What is the purpose of financial leverage in business financing?
A) To increase costs
B) To minimize employee satisfaction
C) To use borrowed funds to increase the return on investment
D) To regulate international trade
Answer: C) To use borrowed funds to increase the return on investment
Question: What is the significance of a customer feedback system in business?
A) To confuse consumers
B) To decrease market competition
C) To improve products and services based on customer input
D) To eliminate local businesses
Answer: C) To improve products and services based on customer input
Question: What is the purpose of intellectual property rights in business?
A) To decrease market competition
B) To protect creations and innovations from unauthorized use
C) To minimize employee satisfaction
D) To regulate prices of goods
Answer: B) To protect creations and innovations from unauthorized use
Question: What is the role of a budget in financial management?
A) To decrease market competition
B) To regulate prices of goods
C) To plan and control spending to achieve financial goals
D) To avoid quality control
Answer: C) To plan and control spending to achieve financial goals
Question: What is the purpose of a logistics system in business operations?
A) To minimize employee satisfaction
B) To decrease production costs
C) To manage the efficient flow of goods, services, and information
D) To avoid quality control
Answer: C) To manage the efficient flow of goods, services, and information
Question: What is the significance of ethics in advertising?
A) To deceive customers
B) To confuse consumers
C) To ensure honesty and fairness in promotional activities
D) To eliminate competition
Answer: C) To ensure honesty and fairness in promotional activities
Question: What is the purpose of a business continuity plan?
A) To increase profits
B) To advertise products
C) To outline actions to be taken in case of disruptions or disasters
D) To enforce government regulations
Answer: C) To outline actions to be taken in case of disruptions or disasters
Question: What is the role of benchmarking in business performance evaluation?
A) To decrease market competition
B) To minimize employee satisfaction
C) To compare business processes and performance against industry standards
D) To regulate prices of goods
Answer: C) To compare business processes and performance against industry standards
Question: What is the purpose of financial ratios in financial analysis?
A) To decrease market competition
B) To minimize employee satisfaction
C) To assess a company’s financial health and performance
D) To avoid quality control
Answer: C) To assess a company’s financial health and performance
Question: What is the significance of a mission statement in business?
A) To decrease market competition
B) To communicate the purpose and values of a company
C) To minimize employee satisfaction
D) To regulate prices of goods
Answer: B) To communicate the purpose and values of a company
Question: What is the role of government in business regulation?
A) To increase profits
B) To advertise products
C) To establish and enforce laws and regulations to ensure fair business practices
D) To avoid quality control
Answer: C) To establish and enforce laws and regulations to ensure fair business practices
Question: What is the purpose of a mentorship program in human resource development?
A) To decrease employee satisfaction
B) To minimize market competition
C) To provide guidance and support for professional growth
D) To regulate international trade
Answer: C) To provide guidance and support for professional growth
Question: What is the significance of a market economy in business?
A) To decrease market competition
B) To regulate prices of goods
C) To allow supply and demand to determine prices and production
D) To minimize employee satisfaction
Answer: C) To allow supply and demand to determine prices and production
Question: What is the purpose of strategic planning in business management?
A) To decrease market competition
B) To minimize employee satisfaction
C) To set long-term goals and determine the best ways to achieve them
D) To regulate prices of goods
Answer: C) To set long-term goals and determine the best ways to achieve them.
