This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 8 Small Business – Quiz 93 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 8 Small Business Quiz 93 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which government scheme renders advisory services and training manuals to women entrepreneurs? A) DIC. B) RWED. C) BOTH. D) NONE OF THE ABOVE. Show Answer Correct Answer: B) RWED. 2. What is the formula for Gross Profit Margin? A) Revenue-Cost of Sales. B) Gross Profit / Revenue. C) Net Profit / Revenue. D) Gross Profit x Revenue. Show Answer Correct Answer: B) Gross Profit / Revenue. 3. Who can participate in Small Business Saturday? A) Only retail stores. B) Only American Express cardholders. C) Anyone-businesses, shoppers, and community groups. D) Only restaurants. Show Answer Correct Answer: C) Anyone-businesses, shoppers, and community groups. 4. Why do people start thier own business? A) To be their own boss. B) Flexibility. C) Achieving their dreams. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. Policy insight:A firm wants exclusive control early without complex filings. Which IPR feature best aligns with this goal? A) Patent because it lasts forever. B) Copyright because protection starts automatically on creation. C) Trademark because it is automatically awarded. D) Industrial design because it needs no novelty. Show Answer Correct Answer: B) Copyright because protection starts automatically on creation. 6. Which business structure is often used by large companies with multiple shareholders? A) Sole Proprietorship. B) Corporation. C) Partnership. D) Limited Liability Company. Show Answer Correct Answer: B) Corporation. 7. How does fostering customer relationships contribute to long-term business success? A) By reducing operational costs significantly. B) By generating repeat business and positive referrals. C) By limiting the customer base to a few loyal clients. D) By avoiding investments in customer service. Show Answer Correct Answer: B) By generating repeat business and positive referrals. 8. The "things" a company sells. A) Units. B) Assets. C) All the above. D) None of the above. Show Answer Correct Answer: A) Units. 9. Who has a vested interest in the success of the company? A) Stakeholder. B) CEO. C) CFO. D) COO. Show Answer Correct Answer: A) Stakeholder. 10. Which of the following is considered a service? A) Toys. B) Food. C) Computer repairs. D) Clothing. Show Answer Correct Answer: C) Computer repairs. 11. Someone who takes a risk in starting a business to earn a profit is A) An entrepreneur. B) A daredevil. C) Business tycoon. D) A millionaire. Show Answer Correct Answer: A) An entrepreneur. 12. Which of the following is not a type of Large scale Retailers? A) Departmental stores. B) Chain stores. C) Grocery Stores. D) Mall. Show Answer Correct Answer: C) Grocery Stores. 13. Which of the following is not a characteristic of a successful entrepreneur? A) Determination. B) Creativity. C) Dependence. D) Self-Confidence. Show Answer Correct Answer: C) Dependence. 14. Why is entrepreneurship important in the economy? A) It increases government expenses. B) It encourages innovation and job creation. C) It supports large corporations only. D) It reduces the need for education. Show Answer Correct Answer: B) It encourages innovation and job creation. 15. Fill in the blank: ..... is when a business owner uses their own money to fund their business. A) Bootstrapping. B) Crowdfunding. C) Venture Capital. D) Angel Investing. Show Answer Correct Answer: A) Bootstrapping. 16. In planning for the harvest, what is the significance of evaluating financial performance? A) It helps in identifying potential buyers or investors. B) It reduces the need for marketing strategies. C) It focuses only on operational expenses. D) It determines employee performance. Show Answer Correct Answer: A) It helps in identifying potential buyers or investors. 17. What does SWOT analysis stand for? A) Strengths, Weaknesses, Opportunities, Threats. B) Sales, Work, Operations, Technology. C) Solutions, Wins, Objectives, Tactics. D) None of the above. Show Answer Correct Answer: A) Strengths, Weaknesses, Opportunities, Threats. 18. Most business plans are developed for ..... year(s). A) One. B) Two. C) Five. D) Ten. Show Answer Correct Answer: A) One. 19. NSIC is a ..... A) Departmental undertaking. B) Public sector enterprise of the ministry. C) Statutory corporation. D) Private company. Show Answer Correct Answer: B) Public sector enterprise of the ministry. 20. ..... is the process of choosing the most suitable candidate for the vacant position in the organisation. A) Recruitment. B) Training. C) Selection. D) Performance Appraisal. Show Answer Correct Answer: C) Selection. 21. What is a key characteristic of intrapreneurs? A) They focus solely on financial profits. B) They are creative problem-solvers in a corporate environment. C) They work independently without any company support. D) They avoid taking risks in business. Show Answer Correct Answer: B) They are creative problem-solvers in a corporate environment. 22. A geographically dispersed telecommunications network is called A) LAN. B) WAN. C) All the above. D) None of the above. Show Answer Correct Answer: B) WAN. 23. Market niche A) A large segment of a market with many competitors. B) A small segment of a market with fewer competitors than the market as a whole. C) A type of product that is universally appealing. D) A market segment that is dominated by a single company. Show Answer Correct Answer: B) A small segment of a market with fewer competitors than the market as a whole. 24. The main difference between a credit card and a debit card is that: A) The interest rate you pay for purchases is much higher on a debit card. B) A debit card allows you to borrow money to fund your purchases. C) With a debit card you are accessing your own funds. D) With a credit card you are accessing your own funds. Show Answer Correct Answer: C) With a debit card you are accessing your own funds. 25. According to the Design Thinking Process:Create Solutions A) Define. B) Test. C) Ideate. D) Prototype. Show Answer Correct Answer: D) Prototype. ← 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