Business Quiz | Business enthusiasts, this quiz is for you!

Begin your entrepreneurial and business journey!

Are you thinking about getting a business management degree? Or are you a business enthusiast who wants to learn more about the industry? If you answered yes for both or even one of these questions, check if you’re ready to study abroad and test your knowledge about business, careers, companies, brands, and more with these online business quiz questions! 

What is the importance of a business quiz?

Your company’s success is built on a solid strategy. The strategy contains marketing, logistics, financing, sales, and other areas. All of these elements will help you succeed in business! But this can only happen if you learn how to strategize and manage different functions of a business. 

A business quiz is a fun and educational way to test your knowledge while also teaching you more about business and helping you become a successful entrepreneur. So, try out business quiz questions along with reading those heavy business books to enhance your knowledge. 

Business quiz questions with answers! 

Ready for some business quiz questions and answers? If yes, let’s have a look at the business quiz questions below.

Q1. Which economic system is related to the word “laissez-faire”? 

Answer- Capitalist Economy 

Q2. What does the acronym IPO stand for in the business world?

Answer- IPO is an initial public offering. This means the initial sale of privately owned equity, i.e., stock or shares, in a company, via the issue of shares to the public and other investing institutions.

Q3. Which cosmetics brand offers an augmented reality app called “Modiface”? 

Answer- L’Oreal 

Q4. In terms of monetary value, which country imports the most? 

Answer- The United States of America 

Q5. Which law states that a small fraction of a group contributes to a high percentage of the outcomes? 

Answer- Pareto’s law 

Q6. What is the first step in the internationalization process? 

Answer- Licensing 

Q7. All forecasting and order choices for a company’s distribution network are made centrally. Which systems does the organization employ to do that? 

Answer- Push system 

Q8. Which technology company’s name signifies “Chinese Achievement”? (It’s an unlisted company that’s now outlawed in the US, and the US Commerce Department is increasingly requesting that all partner countries’ companies stop doing business with it). 

Answer- Huawei 

Q9. Which is the largest natural gas firm in the world? 

Answer- China National Petroleum Corporation 

Q10. According to which theory the holdings of a country’s treasure primarily in the form of gold constituted its wealth? 

Answer- Mercantilism Theory 

Q11. What does OECD stand for? 

Answer- Organization for Economic Co-operation and Development 

Q12. Which is the only item that Rolls Royce imports from India? 

Answer- Malabar teak wood

Q13. What is the name of the artist who sells 17% of modern art? 

Answer- Andy Warhol. In his debut show, he displayed 32 Campbell’s soup cans paintings.

Q14. In the 1960s, who created the ‘Equity Theory’ of job motivation? 

Answer- John Stacey Adams 

Q15. Because one firm skews the data, several analysts in the United States have decided to omit its results from corporate earnings. Give the name of that company. 

Answer- Apple 

Q16. What does NAFTA stand for? 

Answer- North American Free Trade Agreement 

Q17. What does “tyranny of the flagship” entail in the mobile phone market, according to the Economist? 

Answer- Companies like iPhone and Samsung Galaxy walking away with profits. 

Q18. To compete with online merchants, Walmart has launched a 48-dollar membership program. Every month, the buyers would receive a package. AI would choose the items in this box. If the buyer keeps everything, they will save 50%. What would be in the box? 

Answer- Kids’ clothes 

Q19. Where is Google’s first retail location, where Chromebooks, Pixel smartphones, Google Home speakers, Nest home devices, and Daydream VR headsets will be sold? 

Answer- Chicago 

Q20. Which is the world’s oldest company still in existence? 

Answer- Kongo Gumi is the world’s oldest continuously operational firm, founded in 578 AD. The company’s headquarters are in Osaka, Japan. Prince Shotoku commissioned an immigrant to build the Shitenn-Ji Buddhist temple, and he created this construction enterprise.

Q21. Who created the ten stages of the corporate life cycle, which begin with courtship and ends with bureaucracy and death? 

Answer- Dr. Ichak Adizes 

Q22. What is the management technique commonly known as MBWA? 

Answer- Tom Peters coined the phrase “management by walking about” or “wandering around” in Search Of Excellence, 1982. 

Q23. What does NASDAQ stand for? 

Answer- National Association of Securities Dealers Automated Quotations 

Q24. Who was the first to invent the phrase “transformational leadership”? 

Answer- James Macgregor Burns 

Q25. According to the World Economic Forum’s Global Competitiveness Report, which country has the most competitive economy in the world? 

Answer- The United States of America 

Key takeaways

• Online Business quizzes give you immediate feedback and results so you can assess your performance. The result will also assist you in improving your preparation. 
• The diversity of business themes available will allow you to broaden your knowledge of the business world. 
• The more you know, the more money you’ll make. Taking a business quiz is an excellent method to put your general business knowledge to the test. 

So there you have it- our top picks for the best business trivia questions and answers. Please reach out to us in case of any further assisance you may require building a future career in business. You can even drop a comment below! 

Liked this blog? Read next: General knowledge books | Amazing books you must read

FAQs

Q1. How can I prepare for a business quiz? 

Answer- Follow these tips to prepare for a business quiz-

• Read newspapers and publications as it will help you learn more. 
• Practice with your friends and family. 
• Break your preparation. Do one business-related topic at a time. 
• Preparing a mock quiz for yourself would help too. 

Q2. Are business quizzes helpful? 

Answer- Reading information for the purpose of learning business has its merits. But, reading information and then taking a quiz is far more effective. Forcing your brain to retain information guarantees that it is ’embedded’ for future use. 

Q3. Is it appropriate to include multiple-choice questions in a quiz? 

Answer- According to most experts, multiple-choice questions are ineffective methods for assessing the ability to synthesize and analyze information or apply knowledge to complicated issues.