No such thing as a silly question, only silly people who are left with doubt.
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Now, to your question. Nope, there's no volume control on the Moto360 because there are no speakers there. None. Nada. You can have volume control FOR YOUR PHONE through the Google Play Music card when you're using that app to play music on your phone, but not for the watch.
I believe there are also third party apps out there that let you control the volume on your phone without playing music, but I've never used those.