This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 80 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 80 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Advantages of capital contribution include A) No interest. B) Limited to personal resources. C) No fixed payments. D) Both a & b. E) Both a & c. Show Answer Correct Answer: E) Both a & c. 2. What is the significance of small businesses in rural India? A) Small businesses in rural India only contribute to unemployment. B) Small businesses in rural India have no impact on the local economy. C) Small businesses in rural India hinder the growth of entrepreneurship. D) Small businesses in rural India play a crucial role in providing employment, contributing to the local economy, and fostering entrepreneurship. Show Answer Correct Answer: D) Small businesses in rural India play a crucial role in providing employment, contributing to the local economy, and fostering entrepreneurship. 3. The most important step in starting a business is developing confidence A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 4. These are marketing planning process at business level, except:(Unit 33-KLO 2-3e) A) A. Competitive Advantage. B) B. Marketing Audit. C) C. Marketing Objectives. D) D. SWOT Analysis. Show Answer Correct Answer: A) A. Competitive Advantage. 5. Ramzan started a business of handloom unit, but after 3 months he has to face difficulty in paying salary to employees. What kind of problem he is facing A) Lack of adequate working capital. B) Marketing. C) Labour. D) None of the above. Show Answer Correct Answer: A) Lack of adequate working capital. 6. How do large corporations like Nike and Ben and Jerry's start out? A) As global entities. B) As medium-sized businesses. C) As small businesses. D) As non-profit organizations. Show Answer Correct Answer: C) As small businesses. 7. A landscaping business needs an extra landscaper for the busy season; he may only work half days. Which type of compensation would be best for this? A) Hourly. B) Piece Work. C) Commission. D) Equity. Show Answer Correct Answer: A) Hourly. 8. A distinguishing quality or characteristic. A) Trait. B) Skill. C) Profit. D) Technology. Show Answer Correct Answer: A) Trait. 9. Which element of a business plan discusses the entrepreneur's short-and long-term goals for the business? A) Financial plan. B) Description of the competition. C) Description of the business. D) Customer analysis. Show Answer Correct Answer: C) Description of the business. 10. What type of charges might a company face due to unauthorized use of personal information? A) Charges of innovation and creativity. B) Charges of invasion of privacy. C) Charges of excellent customer service. D) Charges of community service. Show Answer Correct Answer: B) Charges of invasion of privacy. 11. What is emphasized as the real secret to small business success? A) Creativity. B) Hardwork. C) Luck. D) Social media marketing. Show Answer Correct Answer: B) Hardwork. 12. What is the primary method of funding for small businesses that involves starting and growing a business with little or no external capital or funding? A) Borrowing a large amount of money from investors. B) Receiving government grants and subsidies. C) Using personal savings to start a business. D) Starting and growing a business with little or no external capital or funding. Show Answer Correct Answer: D) Starting and growing a business with little or no external capital or funding. 13. What is the definition of a fixed cost? A) A cost that varies with output. B) A cost that does not vary with output. C) Costs that do not change. D) Costs that change only when agreed. Show Answer Correct Answer: B) A cost that does not vary with output. 14. Which of the following points highlight the role of small scale business in the development of the country? A) Promotes Balanced Regional Development. B) Low Cost of Production. C) Employment generation. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. What does a B2B (business-to-business) transaction involve? A) A business selling directly to consumers. B) A consumer buying goods or services from a business. C) One business selling products or services to another business. D) A franchise paying royalties to a franchise owner. Show Answer Correct Answer: C) One business selling products or services to another business. 16. Neighborhood loyalty. A) Advantage. B) Disadvantage. C) All the above. D) None of the above. Show Answer Correct Answer: A) Advantage. 17. Financial plan may include (Unit 33-KLO 2-3d) A) A. Marketing plan. B) B. Profit, turnover, and capital. C) C. Staffing. D) D. None of above. Show Answer Correct Answer: B) B. Profit, turnover, and capital. 18. All of the following are benefits of a cottage industry except: A) Use of local raw materials. B) Creation of local income. C) Creation of exports. D) Boosting of tourism. Show Answer Correct Answer: C) Creation of exports. 19. Use positive language, if you are out of a product apologize and tell the customer: A) When the product will be in and offer a substitute. B) Not to worry about it and buy something else. C) All the above. D) None of the above. Show Answer Correct Answer: A) When the product will be in and offer a substitute. 20. What percentage of job growth comes from businesses with fewer than 20 employees? A) 20.1%. B) 24.9%. C) 36.3%. D) None of the above. Show Answer Correct Answer: B) 24.9%. 21. Personal insults and feather ruffling are considered:(KLO 2.3. A) A) Interpersonal skills. B) Encouraging to a successful negotiation. C) Barrier to successful negotiation. D) Delaying tactics. Show Answer Correct Answer: C) Barrier to successful negotiation. 22. Entrepreneurs look for business ideas and new and better ways to solve problems. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Wholesale trade refers to A) Exporting goods and services. B) Importing goods and services. C) Buying and selling of goods and services in large quantities. D) Buying and selling of goods and services in small lots. Show Answer Correct Answer: C) Buying and selling of goods and services in large quantities. 24. About how many new businesses are created in the U.S. every year? A) 0.7 million. B) 6 million. C) 14 million. D) 22 million. Show Answer Correct Answer: A) 0.7 million. 25. Entrepreneurs is individuals who create value by bringing together a unique package of resources to exploit opportunities. A) Joseph Schumpeter. B) Peter Drucker. C) Howard Stevenson. D) William Bygrave & Andrew Zacharakis. Show Answer Correct Answer: D) William Bygrave & Andrew Zacharakis. ← 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