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.
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Road transport is very flexible. This is because humans and goods can be moved directly to their target location. For instance, a car or bicycle can drop you right inside your house.
Please read on the means and modes of transportation here.
Road transport does not adhere to any timetable. This implies that movement on road can occur at anytime regardless the weather conditions.
Road transport will normally have access to all parts of the country because of the availability of road network.
Please read on the advantages and disadvantages of water transport here.
Goods can be delivered en route without the owner of such goods participating in the journey.
Road transport creates employment opportunities for the citizens of a country.
Please read on the rights and attributes of citizens here.
Road transport allows the private ownership of vehicles for average citizens; unlike jets, trains, airplanes and ships which is very expensive to acquire.
Please read on the advantages and disadvantages of air transport here.
Loading and unloading of goods through road transport can be very easy and quick.
With the availability of good roads, the risk of goods been damaged en route is reduced.
Please read on the roles of government in agriculture here.
Road transport is cost effective (cheaper) than air and water transport.
Road transport is very important for transporting perishable goods like tomatoes, vegetables and fruits within a state. Also, the exact location of such goods can be easily monitored.
Please read on the scope, functions and characteristics of commerce here.
Within the rural areas, road is considered as a readily available mode of transportation since air and rail transport are often absent.
In a case of emergency, the driver can suddenly and easily change its route via road transport.
Road is an excellent mode of transportation within short distances.
In densely populated cities, congestions and traffic jam are major problems.
Please read on the advantages and disadvantages of rail transport here.
Road transport records the highest number of accidents when compared to other modes of transportation.
Please read on domestic accidents, causes and control here.
The cost of building and maintaining roads can be very expensive.
Please read on the functions of government here.
Road transport has no fixed schedule for arrival and departure; thus it may leave one stranded in some situations.
Bad roads can result to goods being damaged, bringing about financial loss. They can also lengthen the journey resulting to the spoilage of perishable goods.
Please read on the problems of agriculture in Nigeria here.
People living by the road side are prone to noise and air pollutions.
Please read on environmental problems and their causes here.
Road transport cannot guarantee prompt arrival and departure due to vehicular breakdowns and delays.
Parking can be a major issue with road transportation.
Please read on civic responsibility here.
It is not an ideal means of transportation for a distant journey.
Water and floods will affect the usability of roads during rainy seasons.
Please read on erosion here.
Charges for road transport are very unstable. As a commuter, you don’t know what to expect; thus one may need to carry extra cash.
You can read on bank notes and coins as methods of payments here.
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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: