This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 27 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 27 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Total pendapatan tergantung pada jumlah unit dijual dan biaya produksi unit tersebut A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: B) Salah. 2. Why is it more cost-effective to keep current customers than to acquire new customers? A) Retaining customers requires fewer resources. B) New customers always spend less. C) Current customers do not require marketing. D) New customers are not interested in products. Show Answer Correct Answer: A) Retaining customers requires fewer resources. 3. High failure rate are mistakes to many owners of small businesses A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. Bill just started a new graphic design business. He is advertising online and trying to gain customers. He just finished working with his first client. In which business life cycle stage is Bill? A) Survival. B) Existence. C) Growth. D) Exit Plan. Show Answer Correct Answer: B) Existence. 5. What goods and/or services do small businesses provide? A) Personal services. B) Professional services. C) Ready to eat food. D) All of these and more. Show Answer Correct Answer: D) All of these and more. 6. Small business ..... are also called entrepreneurs. A) Failures. B) Takers. C) Owners. D) None of the above. Show Answer Correct Answer: C) Owners. 7. What is a focus group used for? A) Describing the target market. B) Soliciting individuals to consume a product and provide feedback. C) Asking questions about people's interest in a product. D) Describing the organizational structure. Show Answer Correct Answer: B) Soliciting individuals to consume a product and provide feedback. 8. TRUE or FALSEThe primary reason that businesses started by entrepreneurs close is disagreements with business partners. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 9. Becoming an Entrepreneur starts with having ..... A) Money. B) An idea. C) Name. D) All of the above. Show Answer Correct Answer: D) All of the above. 10. What is the relationship between small businesses and entrepreneurship? A) Small businesses and entrepreneurship are interchangeable terms. B) Small businesses and entrepreneurship are completely separate entities. C) Entrepreneurship is a subset of small businesses. D) Small businesses are a subset of entrepreneurship. Show Answer Correct Answer: D) Small businesses are a subset of entrepreneurship. 11. What is the primary purpose of a business proposal? A) To attract investors and secure funding. B) To outline the company's mission. C) To list employee benefits. D) To describe the company's history. Show Answer Correct Answer: A) To attract investors and secure funding. 12. Which investment is considered for deciding the status of manufacturing enterprises? A) Working Capital. B) Building and land. C) Plant and machinery. D) Salary of employees. Show Answer Correct Answer: C) Plant and machinery. 13. An example of a service business would include: A) Repairing a car. B) Selling a car. C) Selling a house. D) Selling furniture. Show Answer Correct Answer: A) Repairing a car. 14. Which is NOT a reason a business closes? A) Bad customer service. B) Competition. C) Good service. D) Putting the business in a location hard to find. Show Answer Correct Answer: C) Good service. 15. Which of the following is NOT a role of small business in the American economy according to the slide? A) Job creation. B) Innovation. C) Exporting. D) Market analysis. Show Answer Correct Answer: D) Market analysis. 16. What does market size mean? A) The size of the biggest market in the world. B) How many people would be interested in your offering. C) Money or how much money a companies has. D) Stocks. Show Answer Correct Answer: B) How many people would be interested in your offering. 17. Which example illustrates a social enterprise model? A) A company that only sells luxury goods. B) A nonprofit that donates a pair of shoes for every pair sold. C) A tech startup focused on developing new apps. D) A traditional retail store. Show Answer Correct Answer: B) A nonprofit that donates a pair of shoes for every pair sold. 18. Most entrepreneurial ventures will be very small and: A) Are planned to remain that way. B) Will grow to be worth billions of dollars. C) All the above. D) None of the above. Show Answer Correct Answer: B) Will grow to be worth billions of dollars. 19. Which of the following is NOT listed as an advantage of small business ownership? A) Independence. B) Costs. C) Flexibility. D) Market Share. Show Answer Correct Answer: D) Market Share. 20. What is a major challenge for small business owners? A) Too much government support. B) Difficulty in raising capital. C) Lack of ideas for businesses. D) Too many customers. Show Answer Correct Answer: B) Difficulty in raising capital. 21. Entrepreneurs often start their business while working for another company, this allows them: A) To increase their income. B) To practice community service. C) All the above. D) None of the above. Show Answer Correct Answer: A) To increase their income. 22. What problem arises due to lack of marketing and lack of demand? A) Lack of skilled labor. B) Usage of obsolete technology. C) Firms operate below full capacity. D) None of these. Show Answer Correct Answer: C) Firms operate below full capacity. 23. People don't think they have enough education, that's why they hesitate to ..... their dreams. A) Recognize. B) Pursue. C) Risk. D) None of the above. Show Answer Correct Answer: B) Pursue. 24. Money owed by one party to another. A) Debt. B) Credit. C) All the above. D) None of the above. Show Answer Correct Answer: A) Debt. 25. What is one of the main purposes of preparing a business plan in the early stages of a start-up? A) To set out the business's objectives, needs, and requirements. B) To hire employees for the business. C) To design the company logo. D) To choose a business location. Show Answer Correct Answer: A) To set out the business's objectives, needs, and requirements. ← 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