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Class 11 Business Studies Chapter 8 Small Business Quiz 5 (60 MCQs)

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1. Money has many functions in society-select the INCORRECT statement below concerning functions of money:
2. What does meaningful mean as it is used in this sentence?
3. Jackson operates an after-school tutoring program out of his home. This is an example of which type of small business management/entrepreneurship career?
4. Small business ownership offers greater flexibility and less control over one's schedule compared to traditional employment.
5. Which of the following is an example of a rural industry?
6. How does having a large corporation headquartered in a community benefit the local economy?
7. Which legal structure involves shared financial backing?
8. ..... is a business started by someone who notices a need for a product or service.
9. What provides an overview of the marketing plan?
10. Which of the 4Ps looks at how much a customer should pay for a product?
11. Define a tiny industry in terms of fixed capital investment.
12. If a bakery spends more on flour when it sells more bread, what kind of expense is flour?
13. An entrepreneur who began selling fried chicken from his roadside restaurant in Corbin, Kentucky, during the Great Depression.
14. Choose the correct form of the verb:'The company ..... its profits last year.'
15. What defines a firm's ability to maintain its market position over time?
16. What is the significance of small-scale industries in India's economy?
17. Which is an example of an ethical issue that a product or service manager might face?
18. A main line on the NW Essential 200GB can be priced as low as:
19. These businesses are not likely to have sales outlets in multiple places or countries, for example. What characteristic of small business is this?
20. What is the fixed capital investment limit for tiny industries?
21. The vision and mission statement in the business plan state the guiding principles of a business
22. Below are the advantages of start-ups, EXCEPT:
23. Fill in the blank:The ..... (CEO) holds a leadership role within a business. The CEO oversees a business's operations and resources and makes the major decisions for the company.
24. The financial plan presents ..... for the future of the business. (Unit 33-KLO 2-3d)
25. Which are the types of individuals who have surplus cash and have keen interest to invest in upcoming startups.
26. What is the Small Business Administration?
27. Which of the following is recommended when meeting potential investors?
28. What is a transaction called when a customer purchases an item from a business?
29. This is someone who takes the initiative to start and operate a new business.
30. ..... a person who recognizes a business opportunity and organizes, manages and assumes the risk of starting a business.
31. Which of the following is a feature of cottage industries?
32. What is a feature of a Non-Profit Corporation?
33. Which of the following is a key characteristic of a successful entrepreneur?
34. What is one of the benefits of starting a franchise?
35. Sole Proprietorship is a one owner business, that is difficult to set up and has limited liability.
36. The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism.
37. What is the main advantage of using quantitative data in market research?
38. In a Franchise arrangement, who owns the business idea and decides how the business will be operated and run?
39. What is a budget?
40. Which of the following is a disadvantage of being a private limited company?
41. What is a recommended practice for data on old devices?
42. Which of the following is probably the least important factor in becoming an entrepreneur?
43. What is the purpose of using a VPN when connecting to public Wi-Fi?
44. As an entrepreneur that is starting a business, it is necessary to have all permits and licenses before registering on Geaux Biz.
45. Village and small industries are significant as producers of consumer goods and absorbers of surplus ..... , thereby addressing the problems of poverty and unemployment.
46. Which mindset is essential for an entrepreneur?
47. Choose a way for business to pay its bills while earning rewards or cash back
48. The span of control can be defined as
49. Growing a Small Business to a Corporation:Small businesses that grow into large businesses often remain in the community in which the business was first established.
50. What percentage of UK employment is through small and medium sized businesses?
51. IS THE WORK OF MANAGING AN ORGANIZATION'S RESOURCES, TIME, AND PEOPLE.BUSINESS ADMINISTRATION PROFESSIONALS WORK TO ENSURE THAT BUSINESSES AND ORGANIZATIONS ARE RUN EFFECTIVELY, EFFICIENTLY, AND PROFITABLY?
52. Entrepreneurs have the ability to generate new and unique ideas. This is known as:
53. When entrepreneurs develop new products that we didn't even know we needed until we had them, they are showing the entrepreneurial characteristic of vision.
54. Corporate entrepreneurship involves:
55. Assertion:small business is defined on the basis of investment in plant and machinery or equipment in IndiaReason:in India, there is a scarcity of capital and abundance of labour
56. Which of the following is a reason why small businesses fail?
57. Small Business Development Centers (SBDCs)
58. Management functions include
59. What social media action can help businesses promote Small Business Saturday?
60. At the early stage of considering a business idea, what should you focus on?
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