Jss2 Third term Business studies past questions and answers

Question: What is the primary purpose of a SWOT analysis in business?

a) Evaluating employee performance

b) Identifying internal strengths and weaknesses, as well as external opportunities and threats

c) Setting product prices

d) Conducting market research

Answer: b) Identifying internal strengths and weaknesses, as well as external opportunities and threats

 

Question: In finance, what is the term for the cost of borrowing money?

 

a) Dividend

b) Interest

c) Equity

d) Capital

Answer: b) Interest

 

Question: What is the purpose of a focus group in market research?

 

a) Calculating inventory turnover

b) Collecting data through open-ended discussions with a group of people

c) Managing financial accounts

d) Setting production targets

Answer: b) Collecting data through open-ended discussions with a group of people

 

Question: Which form of business ownership combines elements of a corporation and a partnership?

 

a) Sole proprietorship

b) Limited liability company (LLC)

c) Cooperative

d) Franchise

Answer: b) Limited liability company (LLC)

 

Question: What is the purpose of a supply and demand curve in microeconomics?

 

a) Predicting future inflation rates

b) Analyzing the relationship between product price and quantity demanded

c) Setting marketing strategies

d) Controlling international trade agreements

Answer: b) Analyzing the relationship between product price and quantity demanded

 

Question: In organizational behavior, what does the term “organizational culture” refer to?

 

a) The physical layout of the workplace

b) The shared values, beliefs, and practices within a company

c) Managing employee benefits

d) Trade union negotiations

Answer: b) The shared values, beliefs, and practices within a company

 

Question: Which economic system allows the government to control and make decisions about production and distribution?

 

a) Capitalism

b) Socialism

c) Communism

d) Mixed economy

Answer: c) Communism

 

Question: What is the purpose of a patent in the business world?

 

a) Protecting the environment

b) Securing exclusive rights to an invention

c) Managing employee benefits

d) Controlling inflation

Answer: b) Securing exclusive rights to an invention

 

Question: What is the role of a Board of Directors in a corporation?

 

a) Setting product prices

b) Representing the interests of shareholders and making key corporate decisions

c) Conducting market research

d) Managing daily expenses

Answer: b) Representing the interests of shareholders and making key corporate decisions

 

Question: In the context of international trade, what does the term “dumping” refer to?

 

a) Selling goods in a foreign market at a lower price than in the domestic market

b) Exporting products with high-quality standards

c) Participating in joint ventures with foreign companies

d) Establishing trade barriers

Answer: a) Selling goods in a foreign market at a lower price than in the domestic market

 

Question: What is the purpose of a cash budget in financial management?

 

a) Calculating inventory turnover

b) Outlining the expected cash inflows and outflows over a specific period

c) Managing employee performance

d) Setting production targets

Answer: b) Outlining the expected cash inflows and outflows over a specific period

 

Question: What is the role of entrepreneurship in the business world?

 

a) Calculating profits

b) Identifying and pursuing opportunities to create and grow businesses

c) Setting employee wages

d) Conducting market research

Answer: b) Identifying and pursuing opportunities to create and grow businesses

 

Question: In financial accounting, what does the term “depreciation” represent?

 

a) An increase in the value of an asset

b) The process of allocating the cost of an asset over its useful life

c) Setting product prices

d) Managing daily expenses

Answer: b) The process of allocating the cost of an asset over its useful life

 

Question: What is the purpose of a trade union in the labor market?

 

a) Setting employee performance goals

b) Representing workers in negotiations with employers for better working conditions

c) Calculating inventory turnover

d) Conducting market research

Answer: b) Representing workers in negotiations with employers for better working conditions

 

Question: In marketing, what does the term “brand equity” refer to?

 

a) The financial value of a company

b) The perceived value and strength of a brand in the marketplace

c) Managing financial accounts

d) Setting production targets

Answer: b) The perceived value and strength of a brand in the marketplace

 

Question: What is the significance of economies of scale in production?

 

a) Reducing the production volume

b) Increasing production costs

c) Achieving cost advantages by producing in larger quantities

d) Setting marketing strategies

Answer: c) Achieving cost advantages by producing in larger quantities

 

Question: In business negotiations, what is the purpose of a “win-win” outcome?

 

a) Maximizing profits for one party

b) Achieving mutual benefits for all parties involved

c) Setting product prices

d) Controlling international trade agreements

Answer: b) Achieving mutual benefits for all parties involved

 

Question: What is the purpose of a code of ethics in business?

 

a) Calculating inventory turnover

b) Providing guidelines for ethical behavior within the organization

c) Managing employee benefits

d) Conducting market research

Answer: b) Providing guidelines for ethical behavior within the organization

 

Question: In financial management, what is the term for the cost of capital?

 

a) Interest rate

b) Dividend yield

c) Return on investment

d) Asset turnover

Answer: a) Interest rate

 

Question: What is the purpose of a job analysis in human resource management?

 

a) Calculating profits

b) Identifying and documenting the responsibilities and requirements of a specific job

c) Setting employee wages

d) Conducting market research

Answer: b) Identifying and documenting the responsibilities and requirements of a specific job