This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 81 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 81 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of these is a geographical indication? A) Banaras Brocades. B) Light Bulb. C) Mona Lisa painting. D) IRCTC logo. Show Answer Correct Answer: A) Banaras Brocades. 2. How much PAYG Withholding tax does the employer need to deduct from their employee's weekly Gross Pay of $ 1, 000 if they are claiming the tax free threshold? A) None. B) $ 304. C) $ 183. D) $ 500. Show Answer Correct Answer: C) $ 183. 3. Ellen purchased Cruella before the release date on Disney +. He received immediate access to the movie. What type of e-commerce product did she purchase? A) Physical. B) Wholesale. C) DigitalTagsproducts/ services. D) None of the above. Show Answer Correct Answer: C) DigitalTagsproducts/ services. 4. If a small business plans to launch a product internationally, what promotional strategy should they consider? A) Use the same promotional campaign they used domestically. B) Customize the promotional message to align with local tastes and values. C) Ignore international competitors. D) Rely solely on digital advertising for international promotion. Show Answer Correct Answer: B) Customize the promotional message to align with local tastes and values. 5. Roughly what percentage of new jobs are created by businesses with fewer than 500 employees? A) 80 Percent. B) 60 Percent. C) 20 Percent. D) 40 Percent. Show Answer Correct Answer: A) 80 Percent. 6. What are some of the common challenges faced by small businesses in India? A) High cost of raw materials and production. B) Lack of skilled labor. C) Difficulty in accessing international markets. D) Language barriers. Show Answer Correct Answer: B) Lack of skilled labor. 7. Which of the following is NOT suggested to prevent groupthink? A) Use an experienced facilitator. B) Conduct multiple focus group sessions. C) Avoid members with dominant personalities. D) Assign one member to be devil's advocate. Show Answer Correct Answer: C) Avoid members with dominant personalities. 8. Select the correct form of the adjective:'The entrepreneur is ..... than his competitors.' A) More innovative. B) Most innovative. C) Innovative. D) Innovatively. Show Answer Correct Answer: A) More innovative. 9. The relationship which shows who reports to whom in an organization is referred to as: A) Chain of command. B) Unity of command. C) Span of control. D) Hierarchy. Show Answer Correct Answer: A) Chain of command. 10. A small business wants to expand globally. What should be the first step in their global promotional planning? A) Develop a product that only suits local markets. B) Understand the cultural, social, and economic dynamics of the target market. C) Reduce their prices drastically for international customers. D) Eliminate all local advertising efforts. Show Answer Correct Answer: B) Understand the cultural, social, and economic dynamics of the target market. 11. An independently owned business that usually has the owner as its manager is a: A) Entrepreneurship. B) Entrepreneur. C) Entrepreneurial. D) Small Business. Show Answer Correct Answer: D) Small Business. 12. What year was the National Small Industries Corporation Ltd. established? A) 1975. B) 1955. C) 1960. D) 1950. Show Answer Correct Answer: B) 1955. 13. Define the term "unique selling proposition (USP)" . A) The unique qualities or characteristics of a product or service that set it apart from competitors and make it attractive to customers. B) The price at which a product is sold. C) The location where a product is manufactured. D) The number of employees in a company. Show Answer Correct Answer: A) The unique qualities or characteristics of a product or service that set it apart from competitors and make it attractive to customers. 14. Which of the following would NOT be a wise piece of advice concerning buying goods and/or services: A) Buying on impulse is ok as you can always return the item down the track. B) Consumers should compare brands before completing a purchase. C) Consumers should compare prices before completing a purchase. D) By saving towards a goal and then paying cash for an item, you are able to save on unnecessary interest fees and charges. Show Answer Correct Answer: A) Buying on impulse is ok as you can always return the item down the track. 15. Members of the ..... are retired businesspeople who volunteer their services to help new business owners. A) Small Business Administration. B) National Federation of Independent Business. C) Chamber of Commerce. D) Service Corps of Retired Executives. Show Answer Correct Answer: D) Service Corps of Retired Executives. 16. Suppose you realize you lack knowledge in accounts and finance for your start-up. What strategic step should you take to address this skills gap? A) Ignore the area and focus on marketing. B) Plan to develop your skills through training. C) Only work on manufacturing products. D) Close the business. Show Answer Correct Answer: B) Plan to develop your skills through training. 17. Would the following business be classified as B2B or B2C? Chain of Local Grocery Stores A) B2B. B) B2C. C) All the above. D) None of the above. Show Answer Correct Answer: B) B2C. 18. What type of assistance involves plant design, equipment selection, and use of computer technology for small businesses? A) Incubation. B) Education and training. C) Technical assistance. D) Financial assistance. Show Answer Correct Answer: C) Technical assistance. 19. Small businesses are important to the U.S. economy for all of the following reasons except ..... A) Pay 40 percent of total U.S. private payroll. B) They have generated 50 percent of net new jobs over the past 20 years. C) They employ about half of all private-sector employees. D) That they represent 99.9 percent of all employer firms. Show Answer Correct Answer: B) They have generated 50 percent of net new jobs over the past 20 years. 20. Saying "you have a really bad taste" to a customer in a negotiation is ..... to a successful negotiation:(KLO 2.3 A) A) A) A barrier. B) B) Allowing. C) C) Helpful. D) D) None of the above. Show Answer Correct Answer: A) A) A barrier. 21. Also known as "grapevine" communication A) Non-verbal communication. B) Verbal communication. C) Informal communication. D) Formal communication. Show Answer Correct Answer: C) Informal communication. 22. Maintain a physical distance of at least ..... between others. A) 2 meters. B) 10 feet. C) 1 meter. D) 10 meters. Show Answer Correct Answer: A) 2 meters. 23. A necessary service to protect a business from closing due to an unplanned and costly accident or event is ..... A) Insurance. B) Launch plan. C) Capital. D) Accounting system. Show Answer Correct Answer: A) Insurance. 24. What does critical thinking in entrepreneurship involve? A) Bringing new and unconventional ideas. B) Solving problems using a variety of possible solutions. C) Working towards a goal without direction. D) Preventing unethical behavior. Show Answer Correct Answer: B) Solving problems using a variety of possible solutions. 25. True or False:Elements of a Sales Process are in the correct order (you have to be able to put these in order!)Prospecting>Preparation>Approach>Presentation>Handling Objections>Closing>Follow-Up A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. ← 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