B. Major Small Market Enterprises

C. Medium Scale Manufacturing Entity

D. Micro Service Market Economy

B. National Services Investment Council

D. National Scheme for Industrial Credit

Class 11 Business Studies: Small Business and Entrepreneurship — Chapter Test 1

Class 11 • Business Studies • Small Business and Entrepreneurship • Chapter Test

MediumFREE

Questions

20 min

Duration

Marks (1 each)

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

• Read each question carefully and pick the correct answer.
• You can mark questions for review and come back to them.
• Answers are saved automatically.
• The test is submitted automatically when time runs out.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15

MSME stands for:

Micro, Small and Medium Enterprises

Major Small Market Enterprises

Medium Scale Manufacturing Entity

Micro Service Market Economy

View Correct Answer & Step-by-Step Solution

Correct Option:(A)Micro, Small and Medium Enterprises

Detailed explanation is available inside the official test attempt review.

Question 2 of 15

Under the revised criteria (2020), a micro enterprise has investment up to ₹1 crore and turnover up to:

₹5 crore

₹50 crore

₹10 crore

₹1 crore

View Correct Answer & Step-by-Step Solution

Correct Option:(A)₹5 crore

Detailed explanation is available inside the official test attempt review.

Question 3 of 15

Small businesses are important because they:

generate large-scale employment

harm the economy

import only

avoid taxes

View Correct Answer & Step-by-Step Solution

Correct Option:(A)generate large-scale employment

Detailed explanation is available inside the official test attempt review.

Question 4 of 15

A major problem faced by small businesses is:

excess finance

lack of adequate finance and credit

too many skilled workers

too many markets

View Correct Answer & Step-by-Step Solution

Correct Option:(B)lack of adequate finance and credit

Detailed explanation is available inside the official test attempt review.

Question 5 of 15

NSIC stands for:

National Small Industries Corporation

National Services Investment Council

New Small Industrial Centre

National Scheme for Industrial Credit

View Correct Answer & Step-by-Step Solution

Correct Option:(A)National Small Industries Corporation

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 11 Business Studies: Small Business and Entrepreneurship — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Small Business and Entrepreneurship" of Class 11 Business Studies. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.