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Class 11 Business Studies Chapter 8 Small Business Quiz 3 (60 MCQs)

Quiz Instructions

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1. How can small businesses compete with larger players through e-commerce?
2. When using reducing balance interest formula
3. Which of these is NOT a type of stakeholder?
4. How can small businesses quickly adapt to changing market trends and customer preferences?
5. Data that describes a group of people in terms of their age, marital status, gender, etc .....
6. Which of the following is NOT classified as income:
7. What is a key component of a marketing strategy?
8. TRUE or FALSE-The Franchisee can benefit from using the brand name of the Franchise, as well as advertising and marketing
9. 7A loans need a credit score of ..... to qualify for an approval.
10. Small businesses typically have a complex organizational structure with multiple layers of hierarchy
11. Start-up financing
12. Pursuing their passions, developing an idea into a business, creating wealth for themselves, and providing jobs for other people, allows entrepreneurs to increase their:
13. How much do small industries contribute to gross industrial value and total exports respectively?
14. When Betsy started her business, she knew that if she needed any assistance she could contact ..... and receive help from retired and active businesspeople who volunteer their services to small-business owners.
15. A business owner notices that utility bills are increasing each month. What could be a possible reason for this expense change?
16. Units times price.
17. Which expense would most likely increase if a business produces more products?
18. What does an environmentally friendly business aim to do?
19. Why is contingency planning important when developing a business plan for a start-up?
20. Fill in the blank:The ..... is the point where a business's revenue matches its expenses over a given period.
21. MSMEs in India are considered to be:
22. What is the primary focus of Entrepreneurship Development Programs (EDPs)?
23. ..... is defined as one in which the investment in fixed assets of plant and machinery does not exceed rupees one crore.
24. What is a human resources function?
25. Which best describes the primary reason small businesses are considered "job creators" ?
26. Why is risk management particularly important for a small business?
27. What is a common mistake that small-business owners make when their businesses begin growing?
28. Money invested in purchasing of raw materials payment of wages and salaries, rental, electricity etc comes under
29. What are the primary considerations for starting a small business in a rural area?
30. Which country is mount kilimanjaro located?
31. Which of the following will generally NOT be a realistic option for people wanting credit?
32. The average number of employees in a small business is:(KLO 1.2)
33. Which of the following is a key factor for small businesses to consider when entering a global market?
34. Economic Indicators
35. As per the notification dated February 17, 2017, issued by the Ministry of Commerce and Industry, a start up means an entity whose annual turnover does not exceed .....
36. Which of the following is NOT an incentive for setting up small-scale industries in backward areas?
37. An effective business plan is usually 25 to 50 pages long.
38. Fill in the blank: ..... is using one's mind to solve a problem in the best way by considering various potential solutions to the problem.
39. Carl has created a new app that helps people manage their daily tasks more efficiently. He observes that many users struggle with the app's interface, so he collects feedback and begins improving the user experience by addressing these issues directly. Which stage of the design thinking process is Carl primarily focused on in this scenario?
40. An individual who provides financial backing for small start-up businesses or entrepreneurs. This individual will often accept a lower return on investment or partial ownership of business. What is this individual called?
41. This organization is dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. This group offers free, confidential business advisors in person or via email. Thousands of their volunteers are willing to share their expertise across 62 industries.
42. True or False:With owners of equity in a business, founders own equity.
43. What is the meaning of "Vision" in a business context?
44. A loan that provides the borrower a maximum amount of money. The borrower can draw on that money as needed, up to the maximum amount.
45. What is the average amount needed to start a part-time home-based small business?
46. Management profiles do NOT include which of the following?
47. What is important about managing a business
48. What is the U.S. economy's growth rate in 2020?
49. This involves distributing products in the marketplace.
50. Which of the following are two recurring costs that most businesses have?
51. Which type of pay is usually found in sales roles?
52. Engaging friends and family in an activity designed to spontaneously create ideas:
53. Kevin organizes employee schedules and makes sure daily store operations run smoothly.
54. Who is responsible for developing the company's vision, strategy, and mission?
55. Most Americans are employed by a small business
56. Which of the following is not a role of Small Scale Business in India?
57. 4-A single business where two or more people share ownership. Each partner shares in the profits and losses of the business (KLO 2.5)
58. What is cash balance?
59. In ..... , the franchisee pays the franchising company for the right to sell trademarked goods.
60. A small business owner wants to deepen customer relationships through social media. What approach should they use?
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