This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 90 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 90 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What aspect of brand building is likened to a marriage vow in the video? A) Consistent presence. B) Brand equity. C) Brand promise. D) Brand engagement. Show Answer Correct Answer: C) Brand promise. 2. What is the purpose of a survey in a business context? A) To describe the purpose of the organization. B) To ask various questions about people's interest in a product. C) To provide a clear managerial structure. D) To forecast where the industry is moving. Show Answer Correct Answer: B) To ask various questions about people's interest in a product. 3. The individuals or groups that have an interest in the success of a company A) CFO. B) Stakeholder. C) Founder. D) Employee. E) COOTagsROLES. Show Answer Correct Answer: B) Stakeholder. 4. A small business is launching a new product in an international market. What role does digital marketing play in its promotional plan? A) It is not necessary for international promotion. B) It helps reach a global audience and engage with customers in real time. C) It focuses only on traditional media channels. D) It is only effective for large multinational corporations. Show Answer Correct Answer: B) It helps reach a global audience and engage with customers in real time. 5. What is an entrepreneur willing to explore? A) Only safe and known opportunities. B) New opportunities and unknown risks. C) Opportunities with guaranteed success. D) Only opportunities with no competition. Show Answer Correct Answer: B) New opportunities and unknown risks. 6. Which of the following is NOT a characteristic of an entrepreneurial personality? A) Risk-averse. B) Visionary. C) Energetic. D) Passionate. Show Answer Correct Answer: A) Risk-averse. 7. Other types of debt (or money you owe someone else) other than a mortgage. A) Notes Payable. B) Revenue. C) All the above. D) None of the above. Show Answer Correct Answer: A) Notes Payable. 8. What is the main purpose of a Personal Survival Budget (PSB)? A) To provide a realistic overview of how much money you need to live on each month. B) To calculate business profits. C) To estimate the value of business assets. D) To determine the price of products. Show Answer Correct Answer: A) To provide a realistic overview of how much money you need to live on each month. 9. What is the role of technology in small businesses in India? A) Technology is only useful for large businesses in India. B) Technology has no impact on small businesses in India. C) Small businesses in India do not need technology to succeed. D) Technology plays a crucial role in improving efficiency, reaching a wider audience, and enhancing customer experience for small businesses in India. Show Answer Correct Answer: D) Technology plays a crucial role in improving efficiency, reaching a wider audience, and enhancing customer experience for small businesses in India. 10. Jeremy is the sole proprietor of an architectural design business and must handle all the daily business functions. This is an example of which entrepreneurial function? A) Human Resource Management. B) Operations Management. C) Risk Management. D) Strategic Management. Show Answer Correct Answer: B) Operations Management. 11. Which of the following is a characteristic of a franchise? A) It involves high unknown risks. B) It requires less money upfront. C) It is a licensed business with established operations. D) It primarily sells digital products. Show Answer Correct Answer: C) It is a licensed business with established operations. 12. What is the first stage of the business life cycle? A) Survival stage. B) Success stage. C) Existence stage. D) Take-off stage. Show Answer Correct Answer: C) Existence stage. 13. In a B2C transaction, who is the buyer? A) Another business. B) A consumer. C) A supplier. D) A manufacturer. Show Answer Correct Answer: B) A consumer. 14. What should students also review apart from articles on business impacted by Risk Management Policies? A) Articles that describe the financial status of the company. B) Articles that describe civil and criminal investigations of the company. C) Articles that describe the marketing strategies of the company. D) Articles that describe the hiring practices of the company. Show Answer Correct Answer: B) Articles that describe civil and criminal investigations of the company. 15. What is the purpose of an action plan in a business proposal? A) To list financial projections. B) To define tasks and timelines for execution. C) To outline the company's history. D) To describe the marketing strategy. Show Answer Correct Answer: B) To define tasks and timelines for execution. 16. Assets that can be immediately turned into cash, which can then repay any loan amount outstanding. A) Liquid Assets. B) Inventory. C) All the above. D) None of the above. Show Answer Correct Answer: A) Liquid Assets. 17. Which of the following is NOT listed as a topic for the students to conduct online research on regarding business impacted by Risk Management Policies? A) Theft. B) Fire. C) Earthquake. D) Legal Liability. Show Answer Correct Answer: C) Earthquake. 18. In which step of the Design Thinking Process do you try your solution to learn how to improve it? A) Define. B) Empathize. C) Test & evolve. D) Ideate. Show Answer Correct Answer: C) Test & evolve. 19. Essential difference between concession and compromise is:(KLO 2.6) A) Compromise is the settlement of differences by arbitration or by consent reached by mutual concessions and concession occurs after defeat. B) They are the same. C) Concession require more people involved. D) None of the above. Show Answer Correct Answer: A) Compromise is the settlement of differences by arbitration or by consent reached by mutual concessions and concession occurs after defeat. 20. Long-term financing A) Someone who takes a risk in starting a business to earn a profit. B) A design change that increases the usefulness of a product, service, or process. C) Money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years. D) A government agency that helps small business owners develop business plans and obtain financing and other support for their companies. Show Answer Correct Answer: C) Money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years. 21. What is a key disadvantage of a sole proprietorship? A) Complex tax filing. B) Limited access to capital. C) Shared decision-making. D) High start-up costs. Show Answer Correct Answer: B) Limited access to capital. 22. Most businesses begin from A) Hobbies & skills. B) What your parent(s) tell you. C) What your friends want to do. D) Classes you take. Show Answer Correct Answer: A) Hobbies & skills. 23. What is the first step to becoming a consultant? A) Set your rates. B) Identify your area of expertise. C) Network with people. D) Choose a target market. Show Answer Correct Answer: B) Identify your area of expertise. 24. After identifying your own skills gap, what is one way you can start developing your skills? A) Ignoring the gap. B) Training. C) Delegating all tasks. D) Hiring more staff. Show Answer Correct Answer: B) Training. 25. In the context of self-reliance, when things go well, people with an internal locus of control feel that the actions of other people have led to their success. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. ← 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