2026 second midterm test on Business Studies for JSS2

Welcome to your 2026 second midterm test on Business Studies for JSS2

1. Trade is....

2. One of these is a branch of commerce

3. An aid to trade charged with the responsibility of creating awareness about goods and services is called...

4. POS came as a result of a development in

5. One of these is a type of market

6. The re-exporting of goods already brought into a country from another country without further processing is referred to as

7. The department in charge of collecting import duties (tarrifs) is

8. A trader issue a .....as an evidence of payment for goods and services.

9. A country produces and exports goods in which he has ....... advantage over others.

10. The most important commodity which enables trade to take place is

Theory:Answer all

1. Define trade

2. Mention any five aids to trade you know.

3. Use a flowchart to show the forms of trade you know

4. Write out any two functions of the bank as an aid to trade.

5. Define a market ?b) Identify the types of market you know

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