This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 69 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 69 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A business has the following monthly expenses:rent $1, 000, utilities $ A) $ 1, 800. B) $ 2, 100. C) $ 2, 500. D) $ 2, 800. Show Answer Correct Answer: B) $ 2, 100. 2. Which of the following best describes the concept of 'Customer Relationship Management' (CRM)? A) A financial tool used to manage a company's cash flow. B) A marketing tactic focused solely on social media engagement. C) A method for tracking sales performance and employee productivity. D) A strategy for managing a company's interactions with current and potential customers. Show Answer Correct Answer: D) A strategy for managing a company's interactions with current and potential customers. 3. Entrepreneur's personal values and belief is not important to succeed in a business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. For microloans you need ..... to go against the loan but also the loan A) Interest. B) Co siger. C) Collateral. D) Existing loan. Show Answer Correct Answer: C) Collateral. 5. It is best to start a business when demand for its products and services is high. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 6. What are the key factors that drive the growth of small businesses in India? A) Weather conditions, cultural traditions, and education level. B) Access to finance, government policies, technology adoption, and market demand. C) Foreign investment, transportation infrastructure, and healthcare system. D) Social media popularity, entertainment industry, and natural resources. Show Answer Correct Answer: B) Access to finance, government policies, technology adoption, and market demand. 7. Which founder of Apple was fired in 1985, only to be re-appointed as CEO in 1997 at the age of 42? A) Steve Wozniak. B) Steve Jobs. C) Mark Zuckerberg. D) None of the above. Show Answer Correct Answer: B) Steve Jobs. 8. When we talk about start-up costs (the money it takes to start a business) is it cheaper to start your own business or buy into a franchise? A) Buy into the franchise is cheaper. B) Starting my own business is cheaper. C) All the above. D) None of the above. Show Answer Correct Answer: B) Starting my own business is cheaper. 9. Innovation is to create a completely new idea/product/service. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 10. When planning for the harvest, which of the following strategies would be most effective for a small business looking to attract buyers? A) Diversifying product offerings to appeal to a broad market. B) Eliminating all financial liabilities. C) Discontinuing marketing activities. D) Reducing customer satisfaction to cut costs. Show Answer Correct Answer: A) Diversifying product offerings to appeal to a broad market. 11. Small firms are often linkages to larger firms in the community obtaining materials from them or supplying them. A) True. B) False. C) Somewhat True. D) Somewhat False. Show Answer Correct Answer: A) True. 12. Many stores, such as Target and Big W, go beyond the minimum required by law in regard to consumer refunds or exchanges. They do this because: A) They believe they are always in the wrong anyway. B) They make such a profit it is not worth wasting time on individual complaints. C) They do not want any complaints. D) They see this as a marketing tool to encourage faith in consumers buying their products. Show Answer Correct Answer: D) They see this as a marketing tool to encourage faith in consumers buying their products. 13. Indicate whether the statement is true or false.3. Small businesses account for all nongovernment employment. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 14. 5-Background screening is (KLO 3.1) A) Method in which a company uses to verify that a person is who they claim to be. B) A conversation between a job applicant and a representative of an employer. C) The action or process of inducting someone to a post or organization. D) All of the above. Show Answer Correct Answer: A) Method in which a company uses to verify that a person is who they claim to be. 15. What type of investors do scalable startup entrepreneurs usually rely on? A) Family members. B) Venture capitalists. C) Bank loans. D) Government grants. Show Answer Correct Answer: B) Venture capitalists. 16. What is the fixed capital investment limit for ancillary industrial undertakings? A) Rs. 50 lakhs. B) Rs. 2 crores. C) Rs. 75 lakhs. D) Rs. 1 crore. Show Answer Correct Answer: D) Rs. 1 crore. 17. A website that is vibrant, communicative businesses that actively seek ways to understand what their customers is called:KLO 3.3 A) A) Marketing-oriented website. B) B) Color-oriented website. C) C) Staff-oriented website. D) D) None of the above. Show Answer Correct Answer: A) A) Marketing-oriented website. 18. Most business plans are written and updated every A) Month. B) Year. C) Other year. D) 5 years. Show Answer Correct Answer: B) Year. 19. This refers to the quantity of a product consumers are willing and able to purchase at a given price A) Industrialization. B) Competition. C) Supply. D) Demand. Show Answer Correct Answer: D) Demand. 20. Why can small businesses respond quickly to changing economic climates? A) Due to being less customer-oriented. B) Due to having excessive revenue. C) Due to being large scale. D) Due to being very customer-oriented. Show Answer Correct Answer: D) Due to being very customer-oriented. 21. A small business can offer customers personalized service and specialized products or knowledge that can be more difficult to find in a large chain store, for example.What does "personalized" mean? A) First, beginning. B) Having enough money to pay what you owe. C) Certainly, to be expected. D) Made or done especially for a certain person. Show Answer Correct Answer: D) Made or done especially for a certain person. 22. A ..... is a tangible good, something you can touch. A) Customer. B) Service. C) Advertisment. D) Product. Show Answer Correct Answer: D) Product. 23. Small businesses are responsible for most ..... A) Financing. B) Getting good reviews. C) Keeping customers coming back. D) New Employment. Show Answer Correct Answer: D) New Employment. 24. An ability to ..... priorities is absolutely critical for any entrepreneur. A) A. be aware of. B) Establish. C) Balance. D) None of the above. Show Answer Correct Answer: B) Establish. 25. Instead, the small business that has defined what is unique about the product or service it provides has a greater chance of success.What does "unique" mean? A) Very important, necessary for success. B) Specific. C) Special, different from all others. D) Possible. Show Answer Correct Answer: C) Special, different from all others. ← 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