GST 203 CBT Practice Questions (New Questions Added)

1. Final decision-making involves “casting the _____.”

2. Decision-making involves choosing the most cost-effective _____.

3. Controlling involves setting standards and taking _____ actions.

4. Which of the following is NOT a feature of society?

5. Projects are said to be mutually exclusive if selecting one eliminates _____.

6. Income redistribution by government is meant to

7. Power is inherited in which form of government?

8. Federalism involves

9. Sole proprietorship is one form of _____ organization.

10. A leader who inspires innovation practices

11. Loans from cooperative societies are sources of _____ capital.

12. Opportunity cost refers to the value of the _____ option forgone.

13. The United Nations (UN) is an example of an:

14. Sole proprietorship is one form of _____ organization.

15. Packaging enhances product attractiveness and ease of _____.

16. K. C. Wheare is associated with

17. Power is inherited in which form of government?

18. Pure science is primarily concerned with ________.

19. Ideas generated from business owners’ inventions are considered _____ sources.

20. Which of the following is NOT a function of government?

21. Government can best be described as

22. The four P’s of marketing include product, price, place and _____.

23. Controlling involves setting standards and taking _____ actions.

24. Austin Ranney viewed politics primarily as a process of ________.

25. First-Past-the-Post means

26. Thinking through options helps narrow choices to the most _____.

27. Economic inequality often leads to

28. Authoritarian governments are characterized by

29. Sole proprietorship is one form of _____ organization.

30. The executive summary serves as the _____ of the feasibility study.

31. The two basic forms of government are

32. Autocracy is best described as

33. According to Harold Lasswell, politics is concerned with ________.

34. The two basic criteria used to judge feasibility are cost required and value _____.

35. Leadership is the process of influencing people toward a common _____.

36. One disadvantage of unitary government is

37. The economy deals primarily with

38. Education belongs to the

39. Leadership is the ability to

40. Which concept refers to the legal membership of a country?

41. Direct democracy involves

42. A command economy is one where

43. Lack of proper planning remains a major cause of business _____.

44. Pricing must be high enough to generate profit and low enough to attract _____.

45. Insurance provides protection against business _____.

46. Knowledge is said to be systematic when it is ________.

47. Start-up capital refers to money needed to _____ a business.

48. Promotion involves informing and _____ customers.

49. Jean Bodin is credited with first using the term ________.

50. A society is made up of people who share

51. Financial resources refer to the _____ capital of an organization.

52. Montesquieu categorized the functions of government into ________.

53. Investment process starts with a creative search for _____ alternatives.

54. A democratic leader encourages

55. Sociologists study societies mainly to

56. Nigeria operates mainly a

57. Chieftaincy matters are on the

58. Effective decisions must eventually degenerate into _____.

59. Generating options follows proper problem _____.

60. Organising involves bringing together resources to achieve business _____.

61. Which is NOT a quality of good leadership?

62. The scientific method begins with the ________.

63. Verifiability requires that scientific statements be ________.

64. The study of politics goes beyond government to include ________.

65. Decision-making for problem prevention is essentially _____

66. Loans from cooperative societies are sources of _____ capital.

67. Rule by a few people is known as

68. Costs directly traceable to production are known as _____ costs.

69. Abraham Lincoln defined democracy as government of the people, by the people and

70. A feasibility study focuses on determining the _____ of a proposed business.

71. Effective decisions must eventually degenerate into _____.

72. A feasibility plan helps in presenting business ideas to a _____.

73. Aristotle first used the term politics to refer to the affairs of the ________.

74. The military intervention in Nigeria between 1966 and 1999 was largely due to ________.

75. Pricing must be high enough to generate profit and low enough to attract _____.

76. Investments that can be undertaken simultaneously are described as _____.

77. Early signs of problems are known as _____.

78. Nigeria practices

79. The operating cycle of working capital begins and ends with _____.

80. Nigeria experienced military rule between