Economics/Business Studies JSS1 Mid Term Test

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Welcome to your Economics/Business Studies JSS1 Mid Term Test

1. Buying and selling of goods and services is referred to as

2. Those activities that deal with the buying and selling of goods and services which meet the needs of the individual in the society is called...

3. Another name for money is

4.The final link in the distribution channel is

5. 0ne capital good I know is ...

SUBJECTIVE

1. Three divisions of foreign trade I know are ......... ,....... and.......,

2. A consumer good I know is........

3. Nigeria engages in foreign trade so as to earn ...........

4. Any thing acceptable as a medium of exchange is called........

5. The legal tender for Nigeria is .....

THEORY

Answer all the questions

1. Define home trade?

2. Mention any five types of money you know?

3 Draw the Distribution channel

4. Outline any five characteristics of money known to you?

5.Who is a retailer and mention the types?

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