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Class 11 Business Studies Chapter 8 Small Business Quiz 33 (60 MCQs)

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1. If you possess excellent organizational skills, but are risk-averse and don't like taking initiative, would being an entrepreneur be a good profession for you?
2. 7A loan term can last up to ..... years.
3. What happens when consumers patronize local small businesses in relation to taxes?
4. Investment in plant and machinery in medium enterprise
5. What is mentioned as a critical aspect of brand building in today's market environment?
6. The following statement answers which major question that a business plan should address? "This business will serve more than 200 customers by the end of the year and employ seven full-time employees."
7. How does market research help in identifying business opportunities?
8. What are some characteristic cs of an Entrepreneur?
9. What defines a partnership in business?
10. Why is continual review of risks important for a new business?
11. Which disadvantage of small-business ownership is related to the skills and abilities of the management team?
12. What is the primary characteristic of a sole proprietorship?
13. Why is Entrepreneurship Important?
14. Debt in itself is not a bad thing provided:
15. In a ..... franchise the franchisee is licensed to produce and distribute the parent company's products.
16. A pitch deck is most commonly presented in the form of a ..... presentation.
17. What do you call a written document that outlines a business's objectives and the strategy and tactics that it will use to achieve those objectives over anywhere from a three to five year period of time.
18. Advantages of capital contribution include
19. What is the significance of small businesses in rural India?
20. The most important step in starting a business is developing confidence
21. These are marketing planning process at business level, except:(Unit 33-KLO 2-3e)
22. Ramzan started a business of handloom unit, but after 3 months he has to face difficulty in paying salary to employees. What kind of problem he is facing
23. How do large corporations like Nike and Ben and Jerry's start out?
24. A landscaping business needs an extra landscaper for the busy season; he may only work half days. Which type of compensation would be best for this?
25. A distinguishing quality or characteristic.
26. Which element of a business plan discusses the entrepreneur's short-and long-term goals for the business?
27. What type of charges might a company face due to unauthorized use of personal information?
28. What is emphasized as the real secret to small business success?
29. What is the primary method of funding for small businesses that involves starting and growing a business with little or no external capital or funding?
30. What is the definition of a fixed cost?
31. Which of the following points highlight the role of small scale business in the development of the country?
32. What does a B2B (business-to-business) transaction involve?
33. Neighborhood loyalty.
34. Financial plan may include (Unit 33-KLO 2-3d)
35. All of the following are benefits of a cottage industry except:
36. Use positive language, if you are out of a product apologize and tell the customer:
37. What percentage of job growth comes from businesses with fewer than 20 employees?
38. Personal insults and feather ruffling are considered:(KLO 2.3. A)
39. Entrepreneurs look for business ideas and new and better ways to solve problems.
40. Wholesale trade refers to
41. About how many new businesses are created in the U.S. every year?
42. Entrepreneurs is individuals who create value by bringing together a unique package of resources to exploit opportunities.
43. Which of these is a geographical indication?
44. How much PAYG Withholding tax does the employer need to deduct from their employee's weekly Gross Pay of $ 1, 000 if they are claiming the tax free threshold?
45. Ellen purchased Cruella before the release date on Disney +. He received immediate access to the movie. What type of e-commerce product did she purchase?
46. If a small business plans to launch a product internationally, what promotional strategy should they consider?
47. Roughly what percentage of new jobs are created by businesses with fewer than 500 employees?
48. What are some of the common challenges faced by small businesses in India?
49. Which of the following is NOT suggested to prevent groupthink?
50. Select the correct form of the adjective:'The entrepreneur is ..... than his competitors.'
51. The relationship which shows who reports to whom in an organization is referred to as:
52. A small business wants to expand globally. What should be the first step in their global promotional planning?
53. An independently owned business that usually has the owner as its manager is a:
54. What year was the National Small Industries Corporation Ltd. established?
55. Define the term "unique selling proposition (USP)" .
56. Which of the following would NOT be a wise piece of advice concerning buying goods and/or services:
57. Members of the ..... are retired businesspeople who volunteer their services to help new business owners.
58. Suppose you realize you lack knowledge in accounts and finance for your start-up. What strategic step should you take to address this skills gap?
59. Would the following business be classified as B2B or B2C? Chain of Local Grocery Stores
60. What type of assistance involves plant design, equipment selection, and use of computer technology for small businesses?
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