This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 8 Small Business – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 6 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Small Business customers will get a $ 15 additional line Monthly Service Fee discount on Rogers Infinite Share plans. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 2. How do small businesses contribute to the economic fabric of a community? A) By avoiding innovation. B) By reducing employment opportunities. C) By stimulating economic growth. D) By increasing unemployment rates. Show Answer Correct Answer: C) By stimulating economic growth. 3. What drives an entrepreneur to create a new product or service? A) Government orders. B) Fear of competition. C) Identifying a market need or opportunity. D) Avoiding challenges. Show Answer Correct Answer: C) Identifying a market need or opportunity. 4. Which one is not an online marketing platforms? (Three of them are!) A) TV ads. B) Social Media. C) Email. D) Google Ads. Show Answer Correct Answer: A) TV ads. 5. If you take advantage of modern marketing techniques, you might make this idea a(n) ..... business. A) Obtainable. B) Risky. C) Viable. D) None of the above. Show Answer Correct Answer: C) Viable. 6. What does the term "incorporated" mean in the context of business structures? A) It denotes the process of creating a partnership agreement. B) It refers to the process of merging two companies into one entity. C) It indicates the process of registering a business with the government. D) It signifies the process of becoming a separate legal entity from the owner/s. Show Answer Correct Answer: D) It signifies the process of becoming a separate legal entity from the owner/s. 7. Customers activating a tablet on BYOD get ..... GB data bonus A) 3. B) 2. C) 4. D) 1. Show Answer Correct Answer: D) 1. 8. Which of the following best describes the term limited liability? If the business fails: A) Personal possessions of the owner can be taken to pay any debts. B) The owner is personally liable for all the debts of the business. C) There is no limit on the amount the owner has to pay to settle debts. D) The owner only loses the amount invested in the business. Show Answer Correct Answer: D) The owner only loses the amount invested in the business. 9. Door-to-door sales refers to the method of selling whereby: A) Companies and retailers target certain suburbs with advertising brochures. B) A salesperson visits a customer's home with the intention of selling a particular product. C) Companies and retailers sell products by cold calling over the phone. D) Companies and retailers sell products by sounding car horns and playing music from mobile vans (such as ice-cream retailers). Show Answer Correct Answer: B) A salesperson visits a customer's home with the intention of selling a particular product. 10. Which of the following is NOT one of the three main roles needed to run a business start-up? A) Investor. B) Developer. C) Entrepreneur. D) Manager. Show Answer Correct Answer: A) Investor. 11. CRM stands for what? A) Customer Relationship Managers. B) Custom Relation Management. C) Custom Relation Managers. D) Customer Relationship Management. Show Answer Correct Answer: D) Customer Relationship Management. 12. Evan Spiegel co-founder of Snapchat made $ 272 million on the day of his company's IPO in 2017. This is an example of a: A) Harvest plan. B) Consumer plan. C) All the above. D) None of the above. Show Answer Correct Answer: A) Harvest plan. 13. There are three characteristics that help identify a business opportunity. Which one is NOT a characteristic? A) Marketing. B) Quality. C) Price. D) Service. Show Answer Correct Answer: A) Marketing. 14. Entrepreneurs will work very long hours-often 7 days a week. This means that: A) Plenty of time will remain to pursue personal and family interests. B) Personal interests will often take a backseat to the business. C) All the above. D) None of the above. Show Answer Correct Answer: B) Personal interests will often take a backseat to the business. 15. Developing a sales presentation is part of the ..... step of a sales process. A) Follow-up. B) Preparation. C) B2B. D) Physical. Show Answer Correct Answer: B) Preparation. 16. The most popular use of business plans is to persuade lenders and investors to finance the venture. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. What is an effective approach for small businesses to monitor the success of their global promotional campaigns? A) Focusing only on sales figures. B) Tracking key performance indicators (KPIs) like customer engagement and brand awareness. C) Ignoring customer feedback. D) Relying solely on advertising costs. Show Answer Correct Answer: B) Tracking key performance indicators (KPIs) like customer engagement and brand awareness. 18. Who is above everyone? A) CEO. B) CFO. C) COO. D) Non of the above. Show Answer Correct Answer: A) CEO. 19. Looking for things that need to be done and doing them is the definition of: A) Initiative. B) Loyalty. C) All the above. D) None of the above. Show Answer Correct Answer: A) Initiative. 20. One can expect their sales volume to be high when they are in ..... fit. A) Product/market. B) Price/quality. C) Location/brand. D) Promotion/channel. Show Answer Correct Answer: A) Product/market. 21. What is a 'niche market' A) A small target group of customers who prefers a particular product or serive. B) A large target group of customers. C) Customers who do not know what they prefer. D) A market that is too small to produce for. Show Answer Correct Answer: A) A small target group of customers who prefers a particular product or serive. 22. Which marketing strategy involves creating valuable content to attract customers? A) Public Relations. B) Direct Sales. C) Paid Advertising. D) Content Marketing. Show Answer Correct Answer: D) Content Marketing. 23. Mary works for a tech company and is designing a new style of headphones. Which intellectual property law would best protect Mary's design? A) Trademark. B) Copyright. C) Trade secret. D) Patent. Show Answer Correct Answer: D) Patent. 24. Which of the following is not one of the 5 human relations skills that managers need to develop to be successful A) Self-Understanding. B) Keep social media accounts current. C) Understanding others. D) Developing job satisfaction. Show Answer Correct Answer: B) Keep social media accounts current. 25. What is a common characteristic of supply chain management in small businesses? A) Local vendors for supplies. B) Managing factories in different regions. C) Automated production systems. D) International sourcing. Show Answer Correct Answer: A) Local vendors for supplies. 26. Retired business people can belong to an organization that provides specialized assistance to small-business owners. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 27. Your website domain name:KLO 1.3 A) Come with the website design. B) Purchased separately and paid periodically. C) Is the same as the website host name. D) All of the above. Show Answer Correct Answer: B) Purchased separately and paid periodically. 28. It is not in the interest of our countries to ..... industries that are never going to be viable without protection and subsidies. A) Keep afloat. B) Be self-employed. C) Assume. D) None of the above. Show Answer Correct Answer: A) Keep afloat. 29. What does a Business Plan act as? A) A legal document for taxation purposes. B) A resume for potential employees. C) A guide and reference document. D) A public advertisement. Show Answer Correct Answer: C) A guide and reference document. 30. This is the drive and love that entrepreneurs have for what they do. A) Persuasiveness. B) Perseverance. C) Vision. D) Passion. Show Answer Correct Answer: D) Passion. 31. The activity of setting up a business or businesses, taking on financial risk in hope of profit. A) Planning. B) Leadership. C) Entrepreneurship. D) Designing. Show Answer Correct Answer: C) Entrepreneurship. 32. Why may banks and other lenders be reluctant to give loans to small business owners? A) The owner does not have enough capital. B) Small business owners cant offer a wide range of products. C) It is risky because small business owners have few assets. D) The banks do not care about small business owners. Show Answer Correct Answer: C) It is risky because small business owners have few assets. 33. Present industrial minister of India A) Ramnath Govind. B) Suresh prabhu. C) Piyush Goyal. D) None of the above. Show Answer Correct Answer: C) Piyush Goyal. 34. Which market segment anticipates a customer's needs? A) Demographic. B) Geographical. C) Behavioral. D) Psychographic. Show Answer Correct Answer: C) Behavioral. 35. An example of Operating System Software could be A) Microtype. B) MS Word. C) Windows XP. D) MS Excel. Show Answer Correct Answer: C) Windows XP. 36. What percentage of all US sales do small businesses account for? A) 60%. B) 54%. C) 70%. D) 45%. Show Answer Correct Answer: B) 54%. 37. Distribution industries include which of the following: A) Making computers. B) Selling clothes to a retail store. C) Mowing a yard. D) Real estate. Show Answer Correct Answer: B) Selling clothes to a retail store. 38. The following characteristic of small business that is generally lower than companies that operate on a larger scale? A) A. Limited Area of Fewer Locations. B) B. Local Area of Operations. C) C. Lower Revenue. D) None of the above. Show Answer Correct Answer: C) C. Lower Revenue. 39. A Performance Bank Guarantee ensures: A) Advance refund. B) Execution of a contractual obligation. C) Debt repayment. D) Payment for goods purchased. Show Answer Correct Answer: B) Execution of a contractual obligation. 40. The ..... point is the amount of revenue required to cover expenses. A) Production. B) Break-even. C) Equity. D) Profit margin. Show Answer Correct Answer: B) Break-even. 41. Giovanni would like to start his own business, but he has very little savings. Additionally, his family isn't willing to invest any money into his business because they fear it may fail. Giovanni's bank is also unwilling to provide a loan that is large enough to start the business. This is an example of which disadvantage of small business? A) Limited potential. B) Limited ability to raise capital. C) Risk of failure. D) Inability to adapt to change. Show Answer Correct Answer: B) Limited ability to raise capital. 42. What corporation owns Whole Foods? A) Twitter. B) Amazon. C) Panera Bread. D) Facebook. Show Answer Correct Answer: B) Amazon. 43. This is the ability to see what is possible when others can't. A) Vision. B) Perseverance. C) Passion. D) Persuasiveness. Show Answer Correct Answer: A) Vision. 44. Sarah works at an auto shop. She performs repairs & maintenance while abiding by the safety guidelines at the shop. Sarah also ensures that all work she performs adheres to company policies. She is paid an hourly wage. Which best describes the role that Sarah plays? A) COOTagsROLES. B) Stakeholder. C) CFO. D) Employee. Show Answer Correct Answer: D) Employee. 45. ..... ..... refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor. A) Customer Retention. B) Corporate Structure. C) Customer Referral. D) Segmentation Methods. Show Answer Correct Answer: A) Customer Retention. 46. This is also called a "Market Economy", where businesses are owned by private individuals & groups. A) Free Enterprise System. B) Market Economy. C) Command Economy. D) Traditional Economy. Show Answer Correct Answer: A) Free Enterprise System. 47. To evaluate the skills of employees, corporation can (Unit 33KLO 2-1) A) A. Give employees a test. B) B. Ask to prepare self-assessment. C) C. Put Them in Real Situations. D) D. All of above. Show Answer Correct Answer: D) D. All of above. 48. Which role reports to the board of directors? A) CEO. B) Stakeholder. C) Founder. D) CFO. Show Answer Correct Answer: A) CEO. 49. What is the purpose of competitive analysis? A) To find a business location. B) To register your business. C) To make your business unique. D) To apply for licenses. Show Answer Correct Answer: C) To make your business unique. 50. Which of the following industries is NOT listed as one that attracts small business? A) Retailing and wholesaling. B) Services. C) Manufacturing. D) Agriculture. Show Answer Correct Answer: D) Agriculture. 51. Peningkatan kualitas produk dapat menciptakan daya saing keuntungan bagi suatu perusahaan A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: A) Benar. 52. What percentage of all jobs have small businesses provided since the 1970s? A) 45%. B) 65%. C) 55%. D) 75%. Show Answer Correct Answer: C) 55%. 53. Which of the following is a primary reason for conducting market segmentation? A) To avoid analyzing competitors. B) To reduce the quality of products. C) To identify specific groups of customers with similar needs. D) To increase the number of products offered. Show Answer Correct Answer: C) To identify specific groups of customers with similar needs. 54. Supply imported & indigenous machines & raw material is provided by? A) DIC. B) NSIC. C) MSME Act. D) None of these. Show Answer Correct Answer: B) NSIC. 55. Which of the following is a type of business one can start? A) Sell a franchise. B) Buy a franchise. C) Liquidate the business. D) Merge with another business. Show Answer Correct Answer: B) Buy a franchise. 56. What should you check in your operating system for better security? A) Screen brightness settings. B) Full-disk encryption option. C) Wallpaper settings. D) Volume control. Show Answer Correct Answer: B) Full-disk encryption option. 57. A competitive advantage that small businesses have over larger businesses is A) More consumer research. B) Lower costs. C) Attention to unique customer needs. D) Lower prices. Show Answer Correct Answer: C) Attention to unique customer needs. 58. Product/Market Fit:Before hypothesizing a solution, first determine if there is a problem worth solving. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 59. Selection process is (KLO 3.10) A) A. A detailed analogy of the steps required to complete a given. B) B. shortlisting of the right candidates with the necessary qualifications and skill. C) C. an opportunity for management to improve and upgrade. D) D. All of the above. Show Answer Correct Answer: B) B. shortlisting of the right candidates with the necessary qualifications and skill. 60. Select the correct verb tense:'The entrepreneur ..... a new business last year.' A) Start. B) Starts. C) Started. D) Starting. Show Answer Correct Answer: C) Started. ← PreviousNext →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 8 Small Business Quiz 1Class 11 Business Studies Chapter 8 Small Business Quiz 2Class 11 Business Studies Chapter 8 Small Business Quiz 3Class 11 Business Studies Chapter 8 Small Business Quiz 4Class 11 Business Studies Chapter 8 Small Business Quiz 5Class 11 Business Studies Chapter 8 Small Business Quiz 7Class 11 Business Studies Chapter 8 Small Business Quiz 8Class 11 Business Studies Chapter 8 Small Business Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books