This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 3 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. SWOT Analyses Is Components of Marketing plan? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 2. What is Entrepreneurship? A) Job shadowing for customers. B) The process of working under a boss. C) The process of starting, organizing, managing, and assuming the responsibility for a business. D) Working the cash. Show Answer Correct Answer: C) The process of starting, organizing, managing, and assuming the responsibility for a business. 3. This person has authority over employees and gig workers and is ultimately responsible for their work. A) COO (Chief Operating Officer). B) CIO (Chief Information Officer). C) CFO (Chief Financial Officer). D) Manager. Show Answer Correct Answer: D) Manager. 4. Who can own a small business? A) Only a college graduate. B) Anyone. C) Only someone with a lot of money. D) Only smart people. Show Answer Correct Answer: B) Anyone. 5. The lowest level of production necessary for survival A) Subsistence Production. B) Domestic Production. C) Tertiary Production. D) Export Production. Show Answer Correct Answer: A) Subsistence Production. 6. What type of loans are becoming increasingly popular in Jamaica and other regional countries due to rising energy costs? A) Venture capital. B) Start-up capital financing. C) Technical support services. D) Energy conservation loans. Show Answer Correct Answer: D) Energy conservation loans. 7. A new or different product A) Harvesting. B) Innovation. C) Opportunity. D) Risk. Show Answer Correct Answer: B) Innovation. 8. Promoting a business without defining a clear brand identity may lead to confusing marketing messages and a lack of customer connection. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 9. Which of these makes selling products in the global marketplace easier for entrepreneurs? A) Technology. B) Depending on the tourists. C) Franchise of stores. D) None of the above. Show Answer Correct Answer: A) Technology. 10. The first and primary source of start-up capital for most entrepreneurs comes from: A) Personal savings and personal loans. B) Loans from banks or other financial institutions. C) Interest in the business sold to venture capitalists. D) Money earned from an initial public offering. Show Answer Correct Answer: A) Personal savings and personal loans. 11. Sara Blakely, founder of Spanx, worked what job before founding her billion-dollar empire? A) She worked in fast food. B) She was a stand-up comedian. C) She sold makeup door to door. D) None of the above. Show Answer Correct Answer: B) She was a stand-up comedian. 12. What is a hierarchical structure in a business? A) An organizational structure where functions are subordinate to each other. B) A structure that allows functions to work together without subordination. C) A description of the target market. D) A clear broad statement describing the purpose of the organization. Show Answer Correct Answer: A) An organizational structure where functions are subordinate to each other. 13. What is a key characteristic of a small business? A) Limited market reach. B) Large employee base. C) All the above. D) None of the above. Show Answer Correct Answer: A) Limited market reach. 14. Small businesses only serve a small area and employ no more than 100 people. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 15. What is considered a mistake regarding sales projections for startup businesses? A) Projecting sales volume accurately. B) Overprojecting sales volume and timing. C) Underprojecting sales volume and timing. D) Ignoring sales volume and timing. Show Answer Correct Answer: B) Overprojecting sales volume and timing. 16. "located in rural area which produces any goods, renders any service with or without the use of power and in which the fixed capital investment per head or artisan or worker is specified by the central government from time to time." A) Village Industries. B) Cottage Industries. C) All the above. D) None of the above. Show Answer Correct Answer: A) Village Industries. 17. Many events in life can "trigger" the entrepreneur to become a small business owner. Which of the following is one of those common triggers? A) Finding a new job. B) Getting a promotion at work. C) Being happy with a current job. D) Being laid off from a job. Show Answer Correct Answer: D) Being laid off from a job. 18. What is one of the primary objectives of the Startup India initiative? A) To increase the number of government jobs. B) To promote innovation and entrepreneurship. C) To reduce the tax rates for large corporations. D) To limit foreign investments in startups. Show Answer Correct Answer: B) To promote innovation and entrepreneurship. 19. Which marketing strategy involves using social media platforms to promote products? A) Direct mail marketing. B) Telemarketing. C) Digital marketing. D) Print advertising. Show Answer Correct Answer: C) Digital marketing. 20. What is the main purpose of a business plan? A) To secure a business loan from an official lender. B) To provide guidelines for operating the business and decision-making. C) To communicate the purpose of the venture and what it wants to achieve in the future. D) To give an idea of whether the business has the potential to be successful and to set targets. Show Answer Correct Answer: D) To give an idea of whether the business has the potential to be successful and to set targets. 21. 2-Some of the causes of overlapping conflicts is:(KLO 1.2) A) Role ambiguity. B) Power hunger. C) Miscommunication. D) All of the above. Show Answer Correct Answer: D) All of the above. 22. What is the full form of MSME? A) Micro, Small and Medium Enterprises. B) Medium, Small and Marginal Enterprises. C) Micro, State and Medium Enterprises. D) Medium, Small and Micro Employment. Show Answer Correct Answer: A) Micro, Small and Medium Enterprises. 23. A written map for beginning and growing a business; includes a mission, business goals and objectives A) Business Plan. B) Mission. C) Goals. D) Objectives. Show Answer Correct Answer: A) Business Plan. 24. What does multi-factor authentication require? A) Just a password. B) A password and a temporary code or key. C) Only a username. D) No authentication. Show Answer Correct Answer: B) A password and a temporary code or key. 25. The entrepreneur should profile the potential customers for the new business. This means that the entrepreneur should determine (to the degree possible) the typical customer's: A) Age & gender. B) Income level. C) Education level. D) All of these are correct. Show Answer Correct Answer: D) All of these are correct. ← 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 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 10Class 11 Business Studies Chapter 8 Small Business Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books