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Class 11 Business Studies Chapter 8 Small Business Quiz 2 (60 MCQs)

Quiz Instructions

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1. Small businesses only serve a small area and employ no more than 100 people.
2. What is considered a mistake regarding sales projections for startup businesses?
3. "located in rural area which produces any goods, renders any service with or without the use of power and in which the fixed capital investment per head or artisan or worker is specified by the central government from time to time."
4. Many events in life can "trigger" the entrepreneur to become a small business owner. Which of the following is one of those common triggers?
5. What is one of the primary objectives of the Startup India initiative?
6. Which marketing strategy involves using social media platforms to promote products?
7. What is the main purpose of a business plan?
8. 2-Some of the causes of overlapping conflicts is:(KLO 1.2)
9. What is the full form of MSME?
10. A written map for beginning and growing a business; includes a mission, business goals and objectives
11. What does multi-factor authentication require?
12. The entrepreneur should profile the potential customers for the new business. This means that the entrepreneur should determine (to the degree possible) the typical customer's:
13. Which sentence is an example of passive voice?
14. Costs that make up one unit of what you sell. These can be labor costs as well as material costs.
15. Which of the following is NOT a key characteristic of an entrepreneur?
16. Venture capital firms
17. Which advantage of small business ownership can lead to a more personalized approach to customers?
18. What is considered a disadvantage of franchising?
19. ..... financing is money needed for the main resources of a business that will last for many years.
20. An individual who undertakes the risk associated with creating, organizing, and owning a business.
21. What is the primary focus of small business management?
22. How do small businesses in India impact the local community?
23. The money a person borrows to buy real estate.
24. How much did spending on home repair and renovations increase in 2020?
25. Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.
26. Which is an advantage of a small business?
27. Preparing a budget is important in business but also in our daily lives. A budget surplus means that:
28. Thriving local businesses generate revenue that contributes to:
29. Fill in the blank:A ..... is a document that compares assets to liabilities plus owner's equity.
30. Which of the following is NOT typically included in the definition of an entrepreneur?
31. What is the disadvantage of a corporation?
32. What term is used to describe agreed-upon rules or requirements in business and product development?
33. For ..... , one must spend time finding out what customers' needs are.
34. What do you call a global network connecting millions & millions of computers?
35. Which of the following industries is common for small business entrepreneurs?
36. Haamid has received an investment for his small business from a private individual who invested money in exchange for ownership in Haamid's company. Haamid likely received the investment from a(n) .....
37. Rashid wants to start a consulting business. He needs a receptionist, a place to meet clients, and other aspects of an office. Which is a solution?
38. Lyda Newman's improvement of the ..... was useful for customers of Madam C.J. Walker's product line.
39. Label the items as either a product or a service:"AC repairs"
40. Choose the correct word:a weakness in a system component that could be exploited to allow unauthorized access or cause service disruptions
41. Discuss the importance of government schemes for small businesses.
42. Merchant Cash Advance Loans are cash advances on unpaid .....
43. Debt that does not include a promise by a guarantor to repay the loan in the event the debt holder can't. These are riskier and will therefore have a higher interest rate.
44. DIC was established in?
45. Who typically manages a small business?
46. Occurs when customers take an item without paying for it or intentionally pay less than the retail price.
47. Costs that vary based on the units sold by an enterprise.
48. A new entrepreneur wants to connect with other social entrepreneurs for support. Which organizations might be most helpful?
49. An example of Application software could be
50. How does market segmentation benefit a business?
51. Choose the correct preposition to complete the sentence:'The entrepreneur is interested ..... new business opportunities.'
52. What is one of the roles of entrepreneurs in the economy?
53. In a three-level distribution channel, what is added to the mix?
54. A browser is:KLO 1.3
55. What allows a small online store to stand out from larger retailers?
56. Which word means a new way of doing things?
57. What role does the owner typically play in a small business?
58. A person or a business with a strong credit score and the financial resources that make it likely they will be able to repay any loan.
59. True or False-There is no set up fee involved in setting up a Franchise
60. A new business owner is unsure if their business will generate enough income in the first few months. How can a Personal Survival Budget assist in this situation?
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