This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 32 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 32 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following best describes the importance of Unique Selling Points (USPs) for a start-up? A) They help fill a gap in the market and ensure demand for a product or service. B) They increase the cost of production. C) They reduce the need for advertising. D) They guarantee immediate profit. Show Answer Correct Answer: A) They help fill a gap in the market and ensure demand for a product or service. 2. Your friend would like to own their own business one day. You have learned a lot about franchises in your business course, so you tell your friend that as a franchisee, they would benefit from ..... A) The well-controlled distribution of products. B) More capital to expand the business. C) The use of the brand image and design of the business. D) The fee paid to open the franchise. Show Answer Correct Answer: C) The use of the brand image and design of the business. 3. In which step of the sales process would a presentation be shown to a customer? A) Presentation. B) Prospecting. C) Approach. D) Closing. Show Answer Correct Answer: A) Presentation. 4. A business owner wants to reduce expenses. Which strategy is most effective for lowering variable expenses? A) Negotiating lower rent. B) Using less expensive materials. C) Buying new equipment. D) Increasing advertising. Show Answer Correct Answer: B) Using less expensive materials. 5. Which of the following is not an example of a service business? A) Education. B) Manufacturing. C) Law. D) Healthcare. Show Answer Correct Answer: B) Manufacturing. 6. Small businesses and cottage industries are the same A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 7. Real entrepreneurs aren't like gamblers because they solely depend ..... chance to succeed. A) From. B) Of. C) On. D) None of the above. Show Answer Correct Answer: C) On. 8. Which best describes a manufacturing small business? A) A store that only sells others' products. B) A business that creates products from raw materials. C) A service-only company. D) A business that only imports goods. Show Answer Correct Answer: B) A business that creates products from raw materials. 9. Fill in the blank: ..... is a business-to-consumer (B2C) transaction. A) B2C. B) C2C. C) B2B. D) C2B. Show Answer Correct Answer: A) B2C. 10. In the United States, about how many women own their own businesses? A) 0.5 million. B) 6 million. C) 14 million. D) 22 million. Show Answer Correct Answer: B) 6 million. 11. Corporation A) Owned by shareholders who purchase stock. B) Small business owned by one person. C) Business owned by 2 or 3 people. D) Sole proprietor or partnership signs agreement with corporation to use its business plan and sell its merchandise in a geographic area. Show Answer Correct Answer: A) Owned by shareholders who purchase stock. 12. Which element shows customers the value of a company? A) Offer or message. B) Budget. C) Preparation. D) Follow-up. Show Answer Correct Answer: A) Offer or message. 13. Body language is a form of this type of communication A) Verbal. B) Non-verbal. C) Horizontal. D) Vertical. Show Answer Correct Answer: B) Non-verbal. 14. Which of the following is not the type of goods sold by speciality shops: A) Children's garment. B) Ladies shoes. C) Toys and gifts. D) Used books. Show Answer Correct Answer: D) Used books. 15. Which is not on the job training? A) Job rotation. B) Internship. C) Coaching. D) Classroom lectures. Show Answer Correct Answer: D) Classroom lectures. 16. Another term for capital is ..... A) Debt. B) Credit. C) Equity. D) All of the above. Show Answer Correct Answer: C) Equity. 17. Which of the following function is not performed by the retailers A) Risk bearing. B) Selling goods in large quantities. C) Grading of products. D) None of the above. Show Answer Correct Answer: B) Selling goods in large quantities. 18. This deals with the money you invest in the business and the return you realize on that money based on the net profit of the business. A) Cost to value (CTV). B) Profit to investment (PTI). C) Return on investment (ROI). D) Sales on value (SOV). Show Answer Correct Answer: C) Return on investment (ROI). 19. Which of the following is a characteristic of a successful entrepreneur? A) Pessimistic. B) Risk-taker. C) Indecisive. D) Unmotivated. Show Answer Correct Answer: B) Risk-taker. 20. An educational company needs someone to make sales of their product and only wants to pay them for each sale. Which type of compensation would be best for this? A) Hourly. B) Piece Work. C) Commission. D) Equity. Show Answer Correct Answer: C) Commission. 21. An organization or economic system where goods and services are exchanged for one another or for money. A) Technology. B) Business. C) Mentor. D) Remodeling. Show Answer Correct Answer: B) Business. 22. The activity of presenting products or services to customers A) Selling. B) Producing. C) Marketing. D) None of the above. Show Answer Correct Answer: C) Marketing. 23. Creates budgets, analyzes financial data, and forecasts company profits. A) CEO. B) CFO. C) COO. D) CIOTagsROLES. Show Answer Correct Answer: B) CFO. 24. For a limited time only, small business customers completing a new activation or add an additional line can now get an additional $ ..... credit per line. A) $ 115. B) $ 120. C) $ 105. D) $ 0. Show Answer Correct Answer: C) $ 105. 25. What is a franchise? A) Where a business sells the rights to their brand. B) Where you have full control. C) Where you keep all the profits. D) None of the above. Show Answer Correct Answer: A) Where a business sells the rights to their brand. ← 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