This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 37 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 37 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In which step of the Design Thinking Process do you research your users' problems and unmet needs? A) Define. B) Empathize. C) Test & evolve. D) Ideate. Show Answer Correct Answer: B) Empathize. 2. Successful entrepreneurs tend to have all of the following characteristics EXCEPT A) Energetic. B) Goal-oriented. C) Creative. D) Hesitant. Show Answer Correct Answer: D) Hesitant. 3. Female entrepreneurs, now more than ever, are becoming a part of the 10-figure club. Which African-American media mogul is a billionaire? A) Tyra Banks. B) Wendy Williams. C) Oprah Winfrey. D) None of the above. Show Answer Correct Answer: C) Oprah Winfrey. 4. Dwayne has proper funding for his bicycle shop, but needs assistance on what to do next. What type of assistance would be best for him right now? A) Small Business Administration. B) Funding. C) Chamber of Commerce. D) None of the above. Show Answer Correct Answer: A) Small Business Administration. 5. Which of the following is the most likely example of a production industry? A) Wireless company. B) Movie theater. C) Accounting firm. D) Subassembly plant. E) Trucking company. Show Answer Correct Answer: D) Subassembly plant. 6. Identify the correct sentence structure for a business introduction email. A) Dear Sir/Madam, I am writing to introduce our new product line. B) Dear Sir/Madam, our new product line I am writing to introduce. C) I am writing to introduce, Dear Sir/Madam, our new product line. D) To introduce our new product line, Dear Sir/Madam, I am writing. Show Answer Correct Answer: A) Dear Sir/Madam, I am writing to introduce our new product line. 7. What is the foundation of your business? A) Your business plan. B) Your business credit. C) Your business name. D) Your business location. Show Answer Correct Answer: A) Your business plan. 8. Approaches to business ethics can be divided into four A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 9. Mr. Kim owns a dry-cleaning shop and knows most of his customers by name. A) A) Entrepreneur. B) B) Manager. C) C) Small Business Owner. D) None of the above. Show Answer Correct Answer: C) C) Small Business Owner. 10. Mike is considering starting his own small business in his local community. He wants to ensure that he has maximum control over managerial decisions and minimal hassle in business registration. Which form of business organization would best suit Mike's preferences? A) A. Corporation. B) B. Cooperative. C) C. Sole proprietorship. D) None of the above. Show Answer Correct Answer: C) C. Sole proprietorship. 11. Google, Amazon, and Facebook are examples of ..... A) Sole Proprietorships. B) Partnerships. C) Corporations. D) None of the above. Show Answer Correct Answer: C) Corporations. 12. How can small businesses benefit from the services provided by SIDBI? A) Small businesses can access financial support, guidance, and technology assistance from SIDBI. B) SIDBI only provides services to large corporations, not small businesses. C) Small businesses can only receive loans with high interest rates from SIDBI. D) Small businesses can only access marketing services from SIDBI. Show Answer Correct Answer: A) Small businesses can access financial support, guidance, and technology assistance from SIDBI. 13. A written document that summarizes a business opportunity and defines and articulates how the identified opportunity is to be seized and exploited is called as? A) Business Plan. B) Feasibility Study. C) Entrepreneurship Plan. D) None of the above. Show Answer Correct Answer: A) Business Plan. 14. Manufacturing enterprises are classified under: A) Micro small and medium. B) Micro tiny and small. C) Small and medium. D) None of the above. Show Answer Correct Answer: A) Micro small and medium. 15. Which of the following is an example of substitute products in a competitive environment? A) Shops selling the same sportswear within the same area. B) McDonalds vs Burger King. C) Consumers with limited amount of available cash. D) None of the above. Show Answer Correct Answer: B) McDonalds vs Burger King. 16. What is the role of the finance department? A) To recruit and train employees. B) To handle marketing strategies. C) To oversee production quality. D) To manage budgets and analyze revenue. Show Answer Correct Answer: D) To manage budgets and analyze revenue. 17. What is one of the ways accountants help business owners? A) Advising on tax issues. B) Marketing products. C) Hiring staff. D) Designing websites. Show Answer Correct Answer: A) Advising on tax issues. 18. What percentage of small businesses are home-based businesses? A) 75%. B) 90%. C) 50%. D) 25%. Show Answer Correct Answer: C) 50%. 19. According to the video, what is a common mistake made by small businesses in brand design? A) Consistent use of brand elements. B) Investing in brand design at the beginning. C) Lack of intention in creating the brand look. D) Changing brand elements frequently. Show Answer Correct Answer: C) Lack of intention in creating the brand look. 20. Which section of the business plan should be the bulk of your plan and time? A) Marketing and sales. B) Organization and management. C) Market analysis. D) Service and/or product line. Show Answer Correct Answer: D) Service and/or product line. 21. "They are not defined by capital investment criteria but on the basis of characteristics, " A) Village Industries. B) Cottage Industries. C) All the above. D) None of the above. Show Answer Correct Answer: B) Cottage Industries. 22. Family upbringing, the faith traditions, mentors who haveshaped their lives, and the communities they grew up factors that create entrepreneur's ethical behaviors'. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. A young inventor pitches her idea for a water filter system to investors on a TV show. A) Entrepreneur. B) Manager. C) Small Business Owner. D) None of the above. Show Answer Correct Answer: A) Entrepreneur. 24. What does an organizational structure provide? A) A description of the target market. B) A clear managerial structure for each function of the business. C) A forecast of industry trends. D) A broad statement of the organization's purpose. Show Answer Correct Answer: B) A clear managerial structure for each function of the business. 25. What is a benefit of owning a franchise? A) High unknown risks. B) Established branding. C) Low initial investment. D) No need for training. Show Answer Correct Answer: B) Established branding. ← 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