This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 100 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 100 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The costs of operating a business. A) Expenses. B) Capital. C) All the above. D) None of the above. Show Answer Correct Answer: A) Expenses. 2. The executive summary includes a brief account of key points located within the business plan. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 3. What is the first step in starting your business according to the SBA guide? A) Register your business. B) Pick your business location. C) Write your business plan. D) Plan your business. Show Answer Correct Answer: D) Plan your business. 4. Martha has a small business in which she offers home decorating advice to her customers. This is an example of which type of small business management/entrepreneurship career? A) Education services. B) Interior design services. C) Landscape services. D) Pet businesses. Show Answer Correct Answer: B) Interior design services. 5. Which of the following is NOT a component of a business plan? A) A list of potential customers. B) Financial projections. C) Marketing and sales strategy. D) Personal resumes. Show Answer Correct Answer: A) A list of potential customers. 6. Small business contribution to export A) 50%. B) 55%. C) 45%. D) 35%. Show Answer Correct Answer: C) 45%. 7. A lawyer believes his client is guilty, but remains professional and represents his client. This is an example of which of the following? A) Moral behavior. B) Unlawful behavior. C) Ethical behavior. D) Mannerly behavior. Show Answer Correct Answer: C) Ethical behavior. 8. According to the video, what is NOT essential for successful brand building? A) Authentic engagement. B) Consistent delivery on brand promise. C) Limited brand presence. D) Building strong brand equity. Show Answer Correct Answer: C) Limited brand presence. 9. Sarah owns and operates a small business that designs e-commerce websites for her customers. This is an example of which type of small business management/entrepreneurship career? A) Internet entrepreneur. B) IT consultant. C) Human resources consultant. D) Medical (in-home) services. Show Answer Correct Answer: A) Internet entrepreneur. 10. What is the main drawback of a sole proprietorship? A) They are easy to create. B) They have unlimited personal liability. C) They require a partner. D) They are responsible to shareholdersTagsLEGAL STRUCTURES. Show Answer Correct Answer: B) They have unlimited personal liability. 11. Mark designs logos for businesses in his city. He mostly works with local bakeries. What is Mark's target market? A) Females, ages 13-19. B) Males, ages 20-40. C) Kids, ages 2-12. D) Adults, ages 25-60. Show Answer Correct Answer: D) Adults, ages 25-60. 12. Choose the correct article:' ..... entrepreneur needs a good business plan.' A) An. B) A. C) The. D) No article needed. Show Answer Correct Answer: A) An. 13. What role do small businesses play in market competition? A) They reduce consumer choices. B) They help maintain competitive prices and improve quality. C) They eliminate all large businesses. D) They have no effect on the market. Show Answer Correct Answer: B) They help maintain competitive prices and improve quality. 14. What percentage of all businesses are classified as small? A) Over 50 percent. B) Over 75 percent. C) Over 99 percent. D) Over 90 percent. Show Answer Correct Answer: C) Over 99 percent. 15. A small business usually has the same premises of the owner's home A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 16. A designed change that increases the usefulness of a product, services, or process A) Innovation. B) Invention. C) Improvement. D) Entrepreneur. Show Answer Correct Answer: C) Improvement. 17. A small business wants to use influencer marketing to promote its product in a foreign market. What should they ensure before engaging influencers? A) The influencers have a local following and resonate with the target audience. B) The influencers are from a different industry. C) The influencers are popular worldwide. D) The influencers only post in English. Show Answer Correct Answer: A) The influencers have a local following and resonate with the target audience. 18. What are the 4 P's of Marketing? A) Promotion, planning, puzzles, prizes. B) Product, price, promotion, place. C) Product, planning, promotion, people. D) Product, place, promotion, people. Show Answer Correct Answer: B) Product, price, promotion, place. 19. Which of the following is an advantage to a business of operating as a partnership rather than a sole trader? A) Unlimited liability. B) Decision making is faster and easier. C) Liability is split. D) Financial accounts are kept private. Show Answer Correct Answer: C) Liability is split. 20. This is mainly from personal savings, relatives at the initial stages and some secured credit later if the business is growing. A) Finance. B) Financial Management. C) Funding. D) Financial. Show Answer Correct Answer: C) Funding. 21. Which of the following statements about the importance of small business is false? A) They account for 99.9 percent of all employer firms. B) They pay about 40 percent of total U.S. payroll. C) They comprise 97.5 percent of all exporters. D) They employ 99.9 percent of all private-sector workers. E) They generated about 65 percent of net new jobs over the last two decades. Show Answer Correct Answer: D) They employ 99.9 percent of all private-sector workers. 22. Chatr customer porting to Rogers SMB is not eligible for any credits. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 23. What is a primary focus of small-business owners? A) Innovation and sustainable growth. B) Expecting stable sales, profits, and growth. C) Expanding into international markets. D) Developing new technologies. Show Answer Correct Answer: B) Expecting stable sales, profits, and growth. 24. What should you do to share sensitive information safely? A) Use a secure .gov website. B) Use a .edu website. C) Use a .org website. D) Use a .com website. Show Answer Correct Answer: A) Use a secure .gov website. 25. It is difficult to compete with the array of products or services a large business can offer.What does "compete" mean? A) Made or done especially for a certain person. B) To estimate, calculate a future amount. C) Having enough money to pay what you owe. D) To do as well as or better than others. Show Answer Correct Answer: D) To do as well as or better than others. ← PreviousNext →Related 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 6Class 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 9Class 11 Business Studies Chapter 8 Small Business Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books