Topics in Business StudiesFranchise Business Structure: Types, Advantages and Disadvantages What is Corporation? Types, Advantages and Disadvantages of Corporations What is Limited Liability Company? Its Advantages and Disadvantages Partnership in Business: Types, Advantages and Disadvantages Business Studies: What is Business Studies and Business? Management: Elements of Management What is Management? Importance of Management Advantages and Disadvantages of Air Transport Advantages and Disadvantages of Rail Transport Methods of Payment: Cheque - What is a Cheque? Cheque: Types of Cheque Cheque: Characteristics of Cheque Advantages and Disadvantages of Cheque Advertising and Types of Advertising Advantages and Disadvantages of Road Transport Advantages and Disadvantages of Water Transport Consumer Protection - Agencies of Consumer Protection Consumer Right and Protection Methods of Payment: Credit Cards and Debit Cards Methods of Payment: Bank Notes and Coins | Characteristics of Legal Tender
Academic Questions in Business Studies
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.
In buying and selling, the retailer will usually operate from the stall while the wholesaler operates from the _____.
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Water is considered as one the various modes of transportation; the others being land, air, pipeline and human porterage.
Ships, speed boat, ferries and canoes are some of the means of transportation on water.
Water mode of transportation includes the oceans, seas, rivers, lakes, canals, lagoons and so on.
Bulky goods and large volume of cargo can be transported from one country to another.
Please read on the Advantages and Disadvantages of Road Transport here.
It is considered the safest mode of transport alongside railway transportation.
Water bodies are the free gifts of nature; hence they don’t require any cost of construction and maintenance.
Please read on Maintenance and Types of Maintenance here.
Water transport is not affected by natural events like bad weather, flood and rains.
Please read on the Advantages and Disadvantages of Air Transport here.
Water transport is quite flexible in its services since it can be easily routed to other destinations if need be.
The availability of water mode of transportation within a city can help solve traffic congestion within such city.
Please read on the Responsibilities, Duties and Obligations of a Citizen here.
Water transport provide a means for nations to defend their territory against their enemies.
Please read on the Disadvantages of Foreign Trade here.
With regards to the distance it covers, water transportation is the cheapest.
Water transport has a natural route network, thus traffic congestion are often absent.
Compared to land and air modes of transportation, its pollution rate is the least among all.
Please read on Environmental Problems and its Causes here.
With regards to ship, water a very slow means of transport. It’s so slow that goods can take weeks or even months before they reach their destination.
Please read on the Advantages and Disadvantages of Rail Transport here.
Ships are expensive to build and maintain.
Pilfering is seen on a large scale at seaports.
Please read on Black Market, its Advantages and Disadvantages here.
Water canals can be very expensive to construct and maintain.
Please read on Characteristics, Functions and Importance of Government here.
Huge ships require deep anchorage and modern equipment for loading and unloading; which can be quite expensive to build and maintain.
Water transportation does not get bulky goods to their destination. Such goods will still need to be transported over land.
Please read on the Disdvantages of Foreign Trade here.
Tracking the progress of goods can be somewhat difficult. Some people will actually use this as a means of scamming their clients.
Please read on Values here.
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Amazing facts in Business Studies
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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
- National Drug Law Enforcement Agency (NDLEA)
- National Agency for Food, Drug Administration and Control (NAFDAC)
- Consumer Protection Council (CPC)
- Rent Tribunal
- Ministry of Health
- Ministry of Commerce
- Ministry of Transportation
- Ministry of Environment
- National Wages and Salaries Commission