This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 75 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 75 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. One recommended strategy to save money is to buy generic brands-these are: A) Products sold only at exclusive stores. B) Products sold with plain packaging and with a higher price than the name-branded products. C) Products such as food which sold which are out of date and are therefore far cheaper to buy. D) Products sold with plain packaging, little marketing and usually at much lower prices than the name-branded products. Show Answer Correct Answer: D) Products sold with plain packaging, little marketing and usually at much lower prices than the name-branded products. 2. It is difficult for SSIs to get finance as they lack ..... A) Bargaining skills. B) Good business plan. C) Creditworthiness. D) Expertise. Show Answer Correct Answer: C) Creditworthiness. 3. Which of the following sentences is an example of passive voice? A) The business was started by two entrepreneurs. B) Two entrepreneurs started the business. C) The entrepreneurs are starting the business. D) The business will start soon. Show Answer Correct Answer: A) The business was started by two entrepreneurs. 4. Which type of sales event is designed to showcase a company's products and services to a targeted audience, often featuring demonstrations and networking opportunities? A) Product Launches. B) Trade Shows. C) Fundraisers. D) User Conferences. Show Answer Correct Answer: B) Trade Shows. 5. What is typically true about starting costs for small businesses? A) They are always higher than large businesses. B) They require millions in startup capital. C) They can be relatively low and scalable. D) They are free. Show Answer Correct Answer: C) They can be relatively low and scalable. 6. How many small businesses are there in America? A) 25 million. B) 30 million. C) 20 million. D) 28 million. Show Answer Correct Answer: D) 28 million. 7. Which of the following would NOT BE discussed in the operations plan section of a business plan? A) Organization of the company. B) Sales forecasts. C) Human resource plans. D) Analysis of resources needed. Show Answer Correct Answer: B) Sales forecasts. 8. Equity A) Fixed payment amount for each pay period. B) Payment for the hours an employee has worked. C) A fee paid to an employee for completing a task. D) Non-cash compensation, including an investment vehicle, ownership in the company restricted to stocks or shares. Show Answer Correct Answer: D) Non-cash compensation, including an investment vehicle, ownership in the company restricted to stocks or shares. 9. What is a target audience? A) Anyone who sees your products online. B) People who purchase products and services. C) A specific group of consumers focused on through marketing. D) None of the above. Show Answer Correct Answer: C) A specific group of consumers focused on through marketing. 10. You buy a bottle of Mountain Dew at 7-11. What kind of transaction is this? A) B2B. B) B2C. C) All the above. D) None of the above. Show Answer Correct Answer: B) B2C. 11. What is an angel investor? A) A government official who provides grants. B) A wealthy individual who invests in startups. C) A bank that offers loans. D) A crowdfunding platform. Show Answer Correct Answer: B) A wealthy individual who invests in startups. 12. Where did many computer-industry leaders start working on their business ideas? A) In large corporations. B) In community centers. C) In garages. D) In shopping malls. Show Answer Correct Answer: C) In garages. 13. Small businesses account for ..... of the U.S. gross domestic product each year. A) About 10 percent. B) Almost a quarter. C) More than half. D) About 75 percent. Show Answer Correct Answer: C) More than half. 14. Most small business operators do what they enjoy or love doing as the business may be out of a hobby or part-time job A) Advantage. B) Disadvantage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Advantage. 15. Identify the adverb in the following sentence:'The entrepreneur quickly adapted to market changes.' A) Quickly. B) Entrepreneur. C) Adapted. D) Market. Show Answer Correct Answer: A) Quickly. 16. True or False:If the client does not have their HST number, you can sign them up with a temporary HST Number and submit a form on OneSource A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. What is a potential consequence of leaving a flash drive unattended? A) It will be cleaned. B) It may be stolen. C) It will be upgraded. D) It will be ignored. Show Answer Correct Answer: B) It may be stolen. 18. Which of the following is NOT listed as a common mistake made by startup businesses? A) Failing to spend enough time researching the business idea. B) Overestimating the ease of market entry. C) Lacking a contingency plan for a shortfall in expectations. D) Having a clear long-term aim and business purpose. Show Answer Correct Answer: D) Having a clear long-term aim and business purpose. 19. What is the primary motivation of social entrepreneurs? A) To maximize profits. B) To solve a community problem. C) To compete with large corporations. D) To expand globally. Show Answer Correct Answer: B) To solve a community problem. 20. Commission A) Fixed payment amount for each pay period. B) Payment for the hours an employee has worked. C) A fee paid to an employee for completing a task. D) Compensation for the number of units an employee produces. Show Answer Correct Answer: C) A fee paid to an employee for completing a task. 21. What is the success rate for residential and commercial rentals? A) 85%. B) 90%. C) 95%. D) 80%. Show Answer Correct Answer: A) 85%. 22. A marketing ..... refers to a business's overall plan for reaching prospective consumers. A) Price. B) Promotion. C) Strategy. D) Place. Show Answer Correct Answer: C) Strategy. 23. Pick the best answer. Start-up costs can include ..... A) Price of advertising. B) Rent for a business location. C) Cost of making your product. D) All of these answers. Show Answer Correct Answer: D) All of these answers. 24. This is a way that products or services are developed, priced, distributed, and promoted to customers. A) Marketing. B) Management. C) Reserach. D) None of the above. Show Answer Correct Answer: A) Marketing. 25. What is the median of the data set 2, 3, 4, 5, 6? A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: C) 4. ← 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