This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 62 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 62 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In the modern customer-oriented company, which managers must be personally engaged in knowing, meeting and serving customers. A) Top management. B) Middle managers. C) First-line managers. D) Managers at all levels. Show Answer Correct Answer: D) Managers at all levels. 2. For every $ 1 of public spending at an incubator, how much is generated in local tax revenue? A) $ 40. B) $ 20. C) $ 10. D) $ 30. Show Answer Correct Answer: D) $ 30. 3. How many small businesses are there in the US? A) About 29, 000. B) About 290, 000. C) About 2, 900, 000. D) About 29, 000, 000. Show Answer Correct Answer: D) About 29, 000, 000. 4. In which industries are intrapreneurs commonly found? A) Only in the tech industry. B) Only in the healthcare industry. C) In tech, consumer goods, healthcare, and finance. D) Only in the finance industry. Show Answer Correct Answer: C) In tech, consumer goods, healthcare, and finance. 5. Which section of the business plan identifies a target market? A) Marketing and sales. B) Organization and management. C) Market analysis. D) Service and/or product line. Show Answer Correct Answer: C) Market analysis. 6. What is the main focus of Design Thinking? A) Developing user-friendly products. B) Financial growth. C) Operational separation. D) Exit strategies. Show Answer Correct Answer: A) Developing user-friendly products. 7. Which theory states that all humans have five basic types of needs:physiological, safety, love/belonging, esteem, and self-actualization? A) Maslow's Hierarchy of Needs. B) Herzberg's Two-Factor Theory. C) All the above. D) None of the above. Show Answer Correct Answer: A) Maslow's Hierarchy of Needs. 8. NSIC Stands for? A) National Small Interlinked Corporation. B) Non Situated Indian Corporation. C) National Small Industries Corporation. D) National Small Indian Corporation. Show Answer Correct Answer: C) National Small Industries Corporation. 9. A ..... Market is the group of potential customers to whom a company wants to sell its products and services. A) Fixed. B) General. C) Target. D) Benefits. Show Answer Correct Answer: C) Target. 10. Which of the following is a disadvantage of using credit cards for business funding? A) High-interest rates. B) Easy access to funds. C) Building credit history. D) Flexible repayment options. Show Answer Correct Answer: A) High-interest rates. 11. Market Saturation A) How many similar options are already available to consumers. B) Losing profit. C) Having more money than companies. D) Low profit company. Show Answer Correct Answer: A) How many similar options are already available to consumers. 12. The full form of IPR is: A) Indian Property Rights. B) Intellectual Property Rights. C) Important Property Rights. D) Institutional Property Rights. Show Answer Correct Answer: B) Intellectual Property Rights. 13. Chain stores are also called as Multiple Shops A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. What is one major advantage of selling digital products? A) Digital products are not taxed. B) Not needing physical storage. C) Digital products tend to have a higher value. D) They are always free to create. Show Answer Correct Answer: B) Not needing physical storage. 15. This is the gathering and interpreting of information about a market, about a product or service to be offered to that market, and about the customers for that product or service. A) Market Research. B) Industrial Management. C) All the above. D) None of the above. Show Answer Correct Answer: A) Market Research. 16. Which business structure is characterised by limited liability and separate legal identity? A) Sole proprietorship. B) Partnership. C) Corporation. D) Cooperative. Show Answer Correct Answer: C) Corporation. 17. How can a small business use social media for promotional planning? A) By using social media only for customer complaints. B) By posting random content without any strategy. C) By engaging with customers, promoting products, and building brand awareness. D) By avoiding interaction with customers on social media. Show Answer Correct Answer: C) By engaging with customers, promoting products, and building brand awareness. 18. What kind of market does the development of additional small businesses create? A) A saturated market. B) A declining market. C) A market conducive to growth. D) An exclusive market. Show Answer Correct Answer: C) A market conducive to growth. 19. Margin requirement for non-fund based limits is generally: A) 0-5%. B) 5-10%. C) 10-25%. D) 25-50%. Show Answer Correct Answer: C) 10-25%. 20. What are the benefits of classifying a business as a tiny industry? A) Increased market saturation. B) Higher taxes on small businesses. C) Limited access to international markets. D) Benefits include access to niche markets, reduced competition, eligibility for grants, simplified regulations, and stronger community ties. Show Answer Correct Answer: D) Benefits include access to niche markets, reduced competition, eligibility for grants, simplified regulations, and stronger community ties. 21. Someone who takes a risk in starting a business to earn a profit is known as a(n) A) Administrator. B) Entrepreneur. C) Executive. D) Inventor. Show Answer Correct Answer: B) Entrepreneur. 22. Product/Market Fit:When users love your product so much they tell other people to use it, your have a product/market fit. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Caused by the potential actions of customers, employees, or other individuals. Examples:shoplifting, employee pilferage or negligence A) Economic Risk. B) Human Risk. C) All the above. D) None of the above. Show Answer Correct Answer: B) Human Risk. 24. You have opened a for-profit adult technical school and you want to advertise it to potential students throughout your state.Which marketing method would be most appropriate? A) Social Media. B) Local Television Ad. C) Distribute Flyers. D) Email. Show Answer Correct Answer: B) Local Television Ad. 25. A small business owner is struggling to keep track of inventory. Based on the text, what is a likely reason for this challenge compared to a big business? A) They have too many international suppliers. B) They use simple tracking methods and have limited storage space. C) They rely on automated systems. D) They have a large logistics team. Show Answer Correct Answer: B) They use simple tracking methods and have limited storage space. ← 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