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- 1. Multiple Choice
A system involving the exchange of goods depending on the double coincidence of wants is called
Money
Barter
Specialization
Equal Exchange
- 2. Multiple Choice
which of the following is NOT a function of money?
Not Divisible
Store of value
Measure of Value
Medium of Exchange
- 3. Multiple Choice
From which of the following commercial organizations might any member of the public be allowed to purchase shares?
Co-operatives
The Central Bank
Private Companies
Government Agencies
- 4. Multiple Choice
in which department of a manufacturing business would you MOST likely to find a engineer ?
Production
Personnel
Marketing
Financial
- 5. Multiple Choice
A hotel gives voucher for meals to its employee. This form of incentive is BEST described as?
Reward
Bonus
Fringe Benefit
Motivational Scheme
- 6. Multiple Choice
Paul wins a sum of money in lottery and decided to invest it in a business. Paul buys fruits and sells them to earn money. In which type of production is he involved?
Secondary
Subsistence
Primary
Tertiary
- 7. Multiple Choice
An Authoritarian is leader who
Makes decision without consultation
Allow workers to plan their own work
Consults with those likely to be affected by the decision
Takes suggestions from employees
- 8. Multiple Choice
The workers in a large organization are dissatisfied with the working conditions. the trade union representatives FIRST likely action will be to
Have discussions with the personnel officers
Encourage employees to adopt go slow tactics
Encourage the workers to take actions
Request a meeting with board of directors
- 9. Multiple Choice
A trait associated with entrepreneur is
Taking risk
Fair of failure
Acceptance of loss
Opposition of change
- 10. Multiple Choice
Which of the following documents should be used to indicate to a business department that supplies of certain goods are needed?
Invoice
Quotation
Stock Card
Requisition Order
- 11. Multiple Choice
The advantage which a firm may achieve by significantly increasing the size of its output is known as
Economic of scale
Risk-bearing Economies
Economies of concentration
Effects of large scale production
- 12. Multiple Choice
the abbreviation for f.o.b. means
Fee on board
Freight on board
Free on board
Freeze on board
- 13. Multiple Choice
A post-dated cheque is one which is dated
no later than six month ago
to agree with the date of the document requesting payment
by the bank on the day the cheque is presented for payment
for payment at a future date
- 14. Multiple Choice
What should a bank teller do when a customer presents a check with a general crossings?
Ask for identification
Pay the amount stated
Request that the cheque be deposited
Refer the customer to the drawer's bank
- 15. Multiple Choice
capital as a factor of production refers to
money that issued to produce goods
goods that are used to produce other goods
assets that are owned by a firm
goods purchase for resale
- 16. Multiple Choice
Primary production is concerned with the
distribution of the goods
provision of services
manufacture of goods
provision of raw materials
- 17. Multiple Choice
which of the following is NOT a primary industry?
Mining
Fishing
Building
Farming
- 18. Multiple Choice
Which of the following LEAST affect the location of an industry?
Proximity to source of raw materials
Availability of an abundant labour supply
Proximity to large shopping areas
The presence of good roads and drainage
- 19. Multiple Choice
Which of the following activities carried out in a firm will NOT be under the supervision of the marketing manager?
Packaging
Advertising
Distribution
Purchasing
- 20. Multiple Choice
Which of the following documents gives the name of the ship and full particulars of the shipment of goods?
Bill of Sales
Bill of Lading
Airway Bill
Brokers Bill
- 21. Multiple Choice
Which of the following BEST describe 'loss leader'?
An item which the retailer give away to customer
A product which is sold cheaply
A good which has no real market value
A Product which the retailer is unable to locate
- 22. Multiple Choice
which of the following is a MAJOR function of consumer organization?
Providing goods and services for consumers
Educating consumers about their rights and privileges
Setting price control for certain commodities
Acting as price inspectors
- 23. Multiple Choice
A house wife buys meat from a local butcher in her neighborhood. what type of distribution does this represent?
A retail outlet
A single channel
A direct channel
An indirect channel
- 24. Multiple Choice
which of the following is a function of commercial bank?
Refusal of deposits
Lending of depositors fund
barring of long term financing
Making the various
- 25. Multiple Choice
On which of the following bank account is a service fee charged?
Current
Savings
Term Deposit
Fixed Deposit
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