BIGVILLE COLLEGE BUSINESS STUDIES JS1 3RD TERM

1. The reward for capital is ______

• (a) rent

• (b) interest .

• (c). Profit

• (d) loss

2. 2._____ as a factor of production is a free gift of nature

• (a) land

• (b) capital

• (c) labour

3. There are _____ forms of production

• (a) 2

• (b) 5  

• (c) 3

4.The factor of production that coordinate or organize other

•  (a) entrepreneur

• (b) capital

• (c) labour

5.The conversation of raw materials to finish goods involves _____ production

• (a) primary

• (b) secondary

• (c) tertiary

6.The extraction of raw materials from the farm,sea and forest involves _____ production

• (a) primary

• (b) secondary

• (c) tertiary

7.The rendering of commercial and professional services involves _____ production

• (a) primary

• (b) secondary

• (c) tertiary

8. 8. Another name for sole trade is called _____

• (a) sole proprietorship

• (b) partnership

• (c) restaurant

9. Sole trade is the business owned by ____

• (a) two people

• (b) one person

• (c) three persons

10. _____ is not a source of capital to the sole trader

• (a) gift from relatives

• (b) personal savings

• (c) members contribution