Topics in Business StudiesAdvantages and Disadvantages of Corporations Advantages and Disadvantages of Limited Liability Company Advantages and Disadvantages of Partnership Credit card and Debit card explained with their similarities and differences Business Structure: What is a business structure? Advantages and Disadvantages of Franchise What is a franchise? Types of franchise Corporation explained with its types What is Limited Liability Company? What is Partnership Business? Types of Partnership What is business studies? Concept of business Elements of Management What is Management? Importance of Management Advantages and Disadvantages of Air Transport Advantages and Disadvantages of Rail Transport Cheque explained with its terminologies Cheque: Types of Cheque Cheque: Characteristics of Cheque Advantages and Disadvantages of Cheque What is Advertising? Types of Advertising
Academic Questions in Business Studies
An accounting system focused primarily on a balanced debit and credit side is termed _____.
A. Ledger system
B. Journal system
C. Double entry system
D. Balance sheet system
E. Principle of accounting system
F. Balanced accounting system
With regards to money, which of the following statement is incorrect?
A. Money is crucial for the survival of every human being
B. Money is completely advantageous
C. Money is defined as anything that is generally accepted as a medium of exchange
D. Monopoly is said to exist when money and wealth exists in the hands of a few
E. Excess money in an economy can lead to inflation
F. When a person receives money that isn't commensurate with the job he or she had done, then that's underemployment
Which of the following statement is wrong with regards to business?
A. Business involves the exchange of something for another thing or money
B. Business is an economic activity
C. In business, profit goes beyond money
D. Businesses do not have social responsibilities to their customers
E. The exchange of services is an aspect of business
F. Businesses can be affected by government policies
Consumer _____ are the laws and methods put in place by various agencies so that consumers can enjoy maximum satisfaction on the goods they buy and services rendered to them.
Which of the following is not a characteristics of business?
A. The buyer and seller must always come into a contract agreement
B. Risk from unforseen circumstances is involved
C. They are subject to policies made by the government
D. All business transaction is aimed at making profit
E. It requires a discontinuous transaction between the buyer and the seller
F. Investments are required to begin a business
Which of the following is not a Right of Consumer Protection?
Which of the following is NOT a government agency of consumer protection?
Define Consumer Protection.
Scopes of business studies is the same as branches or divisions of business studies.
At the basic level, students willing to study the academic fields of accounting or banking will need to first understand the concept of business studies since both academic fields (accounting and banking) evolve or emanate from business studies. In this regard, we can therefore state that both the accounting and banking fields of study are scopes of business studies.
Below are some of the scopes or branches or divisions of business studies:
Please read more on marketing here.
Human Resources Management
Please read on the elements of management here.
You can read on supply here.
Banking and Finance
Business Administration and Management
You can read on conflict management here.
Please read how to start a home based fish farming business here.
Search Engine Optimization
Digital and Social Media Marketing
Foreign Exchange Trading
Please read on balance of trade and balance of payments here.
Business studies facilitate the exchange of goods and services.
Please read on the functions and characteristics of commerce here.
Understanding how business work can earn you more money.
Please read on the concept of business studies here.
It will aid students in choosing a career.
As a producer, it helps you to understand the market.
You can read on production here.
A good knowledge of marketing makes one relevant in any institution.
It will assist you in making better buying decisions.
Please read on scale of preference and opportunity cost here.
Knowledge of business studies will assist you in making better investment decisions.
You can read on business structures here.
It will improve an individual’s calculation ability.
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Amazing facts in Business Studies
The world's 100 richest people earned enough money in 2012 to end global poverty four times over
NOTABLE POINTS IN Business Studies
Consumer protection refers to the ways or methods through which consumers enjoy maximum satisfaction from the goods they buy and services rendered to them.
The agencies of consumer protection assists in protecting the consumer rights. These agencies may also be referred to as the organs of consumer protection. Basically, we have three of them, they are:
One of the responsibilities of the government of every nation is to set up agencies or organizations that will protect the interest of the consumers and invariably, the people.
Below are some of the government agencies of consumer protection: