This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 88 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 88 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Level of output that is sufficient to satisfy the needs of households within the national economy A) Subsistence Production. B) Domestic Production. C) Tertiary Production. D) Export Production. Show Answer Correct Answer: B) Domestic Production. 2. An individual who:invents and distributes a good or service; assumes the risks of starting a business; and receives financial rewards. A) Small business. B) Executive. C) Entrepreneur. D) Manager. Show Answer Correct Answer: C) Entrepreneur. 3. What is a business plan's primary function? A) To decorate the office. B) To guide company operations and strategy. C) To entertain potential investors. D) To serve as a personal diary for the entrepreneur. Show Answer Correct Answer: B) To guide company operations and strategy. 4. Which of the following is a qualitative method of market research? A) Quantitative analysis. B) Focus groups. C) Telephone interviews. D) Online surveys. Show Answer Correct Answer: B) Focus groups. 5. How does NSIC assist in the export marketing of small-scale industries? A) NSIC only provides training for small-scale industries. B) NSIC focuses solely on domestic marketing strategies. C) NSIC does not offer any financial assistance to small-scale industries. D) NSIC assists in export marketing by providing market intelligence, organizing trade fairs, facilitating buyer-seller meets, and offering financial assistance. Show Answer Correct Answer: D) NSIC assists in export marketing by providing market intelligence, organizing trade fairs, facilitating buyer-seller meets, and offering financial assistance. 6. How much does each Bell home WiFi pod cost per month? A) $ 5. B) $ 4. C) $ 7. D) $ 10. Show Answer Correct Answer: A) $ 5. 7. What section of a business plan describes what the business does and what market needs it fills? A) Executive Summary. B) Company Description. C) Market Analysis. D) Organization and Management. Show Answer Correct Answer: B) Company Description. 8. What is the advantage of a sole proprietorship? A) Limited liability. B) Full control. C) Ease of selling shares. D) Perpetual existence. Show Answer Correct Answer: B) Full control. 9. Which of the following is an example of a digital product? A) E-book. B) Lawn mower. C) Car wash. D) Restaurant meal. Show Answer Correct Answer: A) E-book. 10. Choose the correct conjunction to complete the sentence:'The entrepreneur was successful ..... he worked hard.' A) Because. B) But. C) Or. D) So. Show Answer Correct Answer: A) Because. 11. In 2015, how much revenue was generated by small business in just New York State? A) About $ 100, 000. B) About $ 1, 000, 000. C) About $ 1, 000, 000, 000. D) About $ 1, 000, 000, 000, 000. Show Answer Correct Answer: D) About $ 1, 000, 000, 000, 000. 12. Adam and Bennett are planning to start a new business. They are considering different locations for their startup. Which of the following factors should they consider while choosing a location? A) Proximity to customers. B) Availability of skilled workforce. C) Cost of operations. D) All of the above. Show Answer Correct Answer: D) All of the above. 13. What is left after the business pays for everything it uses to provide goods and services. A) Cash. B) Capital. C) Profit. D) Resource. Show Answer Correct Answer: C) Profit. 14. What are two ways entrepreneurs and their small businesses provide a positive impact on the economy? A) Create jobs and provide specialized products. B) Increase taxes and reduce competition. C) Decrease demand for products and increase prices. D) Limit consumer choices and reduce quality. Show Answer Correct Answer: A) Create jobs and provide specialized products. 15. The COO is in charge of the day to day administrative functions. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. Every business begins with a(n) A) Idea. B) Customer. C) Invention. D) Profit. Show Answer Correct Answer: A) Idea. 17. Small Industries can be setup anywhere in the country. This line suggests their contribution towards ..... A) Customization of products. B) Entrepreneurship. C) Balanced regional development. D) Export. Show Answer Correct Answer: C) Balanced regional development. 18. Rencana bisnis dimaksudkan untuk memberikan informasi bagi calon investor atau kreditor suatu usulan bisnis A) Benar. B) Salah. C) All the above. D) None of the above. Show Answer Correct Answer: A) Benar. 19. Why does the government assist small businesses? A) Small business assist in employment, regional development and promotion of exports. B) Small scale industries support only urban India. C) They discourage large scale business. D) None of the above. Show Answer Correct Answer: A) Small business assist in employment, regional development and promotion of exports. 20. What is the best source for financing in small businesses? A) Friends and family. B) Loans. C) Personal loans and grants. D) None of the above. Show Answer Correct Answer: C) Personal loans and grants. 21. How often should businesses perform reviews of their risk management program? A) Once at the start of the business. B) Periodically. C) Only when a risk is realized. D) Never. Show Answer Correct Answer: B) Periodically. 22. What is included in the Marketing Plan section? A) Financial projections and budgets. B) Employee roles and responsibilities. C) Description of products or services. D) Operational processes and procedures. Show Answer Correct Answer: C) Description of products or services. 23. What are small businesses? A) Businesses that are owned by small people. B) Businesses that sell small items for the community. C) Businesses that are located to the consumers they are usually owned by sole trader. D) None of the above. Show Answer Correct Answer: C) Businesses that are located to the consumers they are usually owned by sole trader. 24. How can small businesses obtain financing? A) Only through personal savings. B) Exclusively through bank robberies. C) Through debt and equity financing. D) By winning the lottery. Show Answer Correct Answer: C) Through debt and equity financing. 25. Organization that is independently owned, operated, and financed is called as? A) Entrepreneurship. B) Small Business. C) All the above. D) None of the above. Show Answer Correct Answer: B) Small Business. ← 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