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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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 Transportation, 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 and Residents here.
Road transport allows the private ownership of vehicles for average citizens, unlike jet, 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 or cheaper than air and water transport.
Road transport is very important for transporting perishable goods within a state (for instance, tomatoes, vegetables and fruits); and 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 the only available mode of transportation since water, air and rail transport are often absent.
In a case of emergency, the driver can suddenly and easily change its route.
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 Characteristics, Functions and Importance 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 your prompt arrival and departure due to vehicular breakdowns and delays.
Parking can be a major issue in road transportation.
Please read on Civic Responsibility here.
It is not an ideal means of transportation for a far and 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.
Please read on Bank Notes and Coins as Methods of Payments (with their Characteristics) 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