GST 203 CBT Practice Questions (New Questions Added)

1. Insurance provides protection against business _____.

2. Allocation of scarce resources is a major concern of

3. The word “politics” is derived from the Greek word ________.

4. The totality of political institutions and social organizations is known as the ________.

5. Politics at the international level includes actions such as ________.

6. Effective decisions must eventually degenerate into _____.

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

8. Laissez-faire leadership involves

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

10. Business location decisions are influenced by access to raw materials and _____.

11. France practices

12. Nigeria experienced military rule between

13. Effective management of small businesses requires constant planning and _____.

14. A command economy is one where

15. Packaging enhances product attractiveness and ease of _____.

16. The scientific method begins with the ________.

17. Power is inherited in which form of government?

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

19. Autocracy is best described as

20. The economy deals primarily with

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

22. Autocracy is intolerant of

23. Which of the following is NOT an autocratic system?

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

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

26. A democratic leader encourages

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

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

29. Defining a problem requires understanding its nature and _____.

30. ECOWAS is an example of

31. Aristotle described man as a ________.

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

33. Verifiability requires that scientific statements be ________.

34. Government regulation of fiscal and monetary policies relates to

35. The marketing plan focuses on identifying target _____.

36. Management is the process of planning, organizing, directing and _____.

37. A leader who inspires innovation practices

38. A business idea explains the product or service a business intends to _____.

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

40. K. C. Wheare is associated with

41. An example of a professional society is

42. Fear of criticism is a major problem militating against project _____.

43. Max Weber defined politics as the operation of the ________.

44. Sole proprietorship is one form of _____ organization.

45. Working capital represents money required for daily business _____.

46. Defense is on the

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

48. Inadequate working capital may result in operating _____.

49. Britain practices a

50. Power is inherited in which form of government?

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

52. Sociologists study societies mainly to

53. Jean Bodin’s approach to politics was largely influenced by his training as a ________.

54. The two basic forms of government are

55. Which of the following is NOT an arena where politics is practiced?

56. Chieftaincy matters are on the

57. Financial planning focuses on growth and _____ analysis.

58. Early signs of problems are known as _____.

59. Government, society and economy are related because

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

61. Which of the following is NOT an autocratic system?

62. Montesquieu categorized the functions of government into ________.

63. Government can best be described as

64. Early signs of problems are known as _____.

65. Pure science is primarily concerned with ________.

66. Income redistribution by government is meant to

67. Authoritarian governments are characterized by

68. Education belongs to the

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

70. Sole proprietorship is one form of _____ organization.

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

72. Nigeria operates mainly a

73. The protection of citizens from external threats falls under

74. Data collection and classification form part of problem _____.

75. Project evaluation always begins with the _____ of a project.

76. The principle of separation of powers aims primarily at ensuring ________

77. Free and fair elections are a feature of

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

79. The Greek words for democracy are

80. Sole proprietorship is one form of _____ organization.