Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman with the best business objectives is ————————
- A. Okon
- B. Taiwo
- C. Kalu
- D. Musa
Sudden technology changes can have the effect of making
- A. a company's management style ineffective
- B. a company's product obsolete
- C. the control menchanism difficult to implement
- D. the motivational factors in the company difficult to monitor
The existing system of government and the administrative sub-division of a country which affect the operation of business in the country is described as
- A. economic environment
- B. legal environment
- C. polictical environment
- D. social environment
Social responsibility of business requires enterprises to
- A. hold annual social parties for the public
- B. draw their workers only from the immediate environment
- C. address themselves to issues relating to the society
- D. set up social welfare centers in their areas of operation
A key advantage of delegation is that
- A. workers are prepared for hgher responsibilites
- B. the manager has less work to do
- C. the manager spends less time on planning
- D. the organization grows larger in size
In a business organization, the annual operation plan or budget is a form of
- A. casual plan
- B. medium-term plan
- C. long-term plan
- D. short-term plan
The management function of evaluating whether objectives are being achieved is
- A. planning
- B. directing
- C. organizing
- D. controlling
The main objective of a trade association can best be described as promoting and protecting
- A. the products
- B. common interest
- C. the market
- D. customer's interest
The least of the advantages of indigenization is that
- A. the standard of living of the indigenes is improved
- B. the economy is controlled by the nationals
- C. enterpreneurals skill is developped
- D. foreigners' domination is avoided
The activities of consumers association in Nigeria have not been effective because
- A. the consumers are too many
- B. the government is not favourabley dispose towards consumerism
- C. there is poor enlightenment about consumer rights
- D. the consumers have no medium for expressing their feelings
Th overriding objective of the food and drug act in Nigeria is too prevent the
- A. importation of food and drug that can be locally manufactured
- B. consumption of food and drug not tested by the minitries of health
- C. adulteration of food and drug sold in the country
- D. manufactures of food and drug from charging excessive prices
One of the criteria for differentiating consumers markets from industrial ones is the
- A. type of demand
- B. type of supply
- C. nature of the services rendered
- D. price of the goods
The most important pieces of legislation governing business and commercial activities in Nigeria currently is the
- A. Companies degree,1968
- B. Trade Disputes degree, 1976
- C. Companies and Allied matters degree,1990
- D. Banks and Other Financial institution degree,1991
When old customers stick to the old place to buy goods and services,it is known as
- A. goodwil
- B. personal factor
- C. window shopping
- D. patronage
The main advantage of using cinema as an advertising medium is that it is
- A. cheap
- B. accurate
- C. accessible
- D. informative
When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is
- A. product
- B. price
- C. promotion
- D. place
The process of creating more for a product is called?
- A. advertising
- B. marketing
- C. promotion
- D. consumerism
When a firm speaker of stock appreciation, it refers to
- A. change in the value of its stocks resulting from price movement
- B. increase in the price of it shared quoted on the stock exchange
- C. an unexpected increase in the demand of its stock
- D. the value of its stock in the stock exchange
A markets where new shares are trade is known
- A. primary market
- B. stock exchange
- C. secondary markets
- D. money market
Commercial banks are referred to as departmental stores of banking because they
- A. have many branches
- B. have many customers
- C. are found in the cities
- D. offer many types of services
Bank giro is a system where?
- A. commercial banks can give loan to all customers
- B. a central bank opens account for commercial banks
- C. a customer uses cheque to pay serveral bills
- D. a customer closes his account by writting cheque