GST 203 CBT Practice Questions (New Questions Added)

1. Ernest Barker defined politics as the process of ________.

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

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

4. Education belongs to the

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

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

7. K. C. Wheare is associated with

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

9. Government, society and economy are related because

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

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

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

13. A unitary system concentrates power in

14. An example of a professional society is

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

16. Rule by a few people is known as

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

18. Boundary condition refers to the minimum _____ a decision must serve.

19. Allocation of scarce resources is a major concern of

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

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

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

23. Direct democracy involves

24. The two basic forms of government are

25. Chieftaincy matters are on the

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

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

28. One disadvantage of unitary government is

29. A democratic leader encourages

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

31. Controlling involves setting standards and taking _____ actions.

32. Autocracy is best described as

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

34. The marketing plan focuses on identifying target _____.

35. Sole proprietorship is one form of _____ organization.

36. Nigeria uses which electoral system?

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

38. Democracy is best defined as

39. The Greek words for democracy are

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

41. Which is NOT a quality of good leadership?

42. The scientific method begins with the ________.

43. Autocracy is intolerant of

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

45. Servant leadership emphasizes

46. Montesquieu categorized the functions of government into ________.

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

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

49. Motivating employees requires recognizing and rewarding exceptional _____.

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

51. Controlling involves setting standards and taking _____ actions.

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

53. Sociologists study societies mainly to

54. Effective decisions must eventually degenerate into _____.

55. ECOWAS is an example of

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

57. Laissez-faire leadership involves

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

59. Aristotle described man as a ________.

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

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

62. Verifiability requires that scientific statements be ________.

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

64. First-Past-the-Post means

65. Promotion involves informing and _____ customers.

66. Power is inherited in which form of government?

67. Nigeria practices

68. Inadequate working capital may result in operating _____.

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

70. Leadership is the ability to

71. Sole proprietorship is one form of _____ organization.

72. Nigeria experienced military rule between

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

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

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

76. Citizens' demands influence

77. Insurance provides protection against business _____.

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

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

80. Early signs of problems are known as _____.