Business Quiz, Business Enthusiasts, This Quiz Is For You

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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!

Also learn: How Geography quiz can help you develop your general knowledge

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!

1. Business Quiz for Students

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 

Read: Top 30 Science quiz questions and answers for practice!

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 

Learn about: Business studies | Eligibility, Courses and more

1. Business quiz questions for College students

Q1. Which of the following would not be included in the business plan when planning to open a brand new business?

1. 1. Financial predictions
   2. Market research

• Last year’s profit and loss figures

1. Aims and objectives

Q2. What does the term SWOT mean ?

1. Sales, Weaknesses, Options, Threats
2. Sales, Weekly, Opportunities, Time
3. Strengths, Weaknesses, Opportunities, Threats
4. Strengths, Weaknesses, Opportunities, Time

Q3. You must include uncertainties and risk in a business plan.

• True

1. False

Q4. Sole traders have _______________ liability. 

(limited/unlimited)

Q5. A disadvantage to the owner of a business of being a PLC is

• There may be conflicts in decision making between shareholders

1. They have unlimited liability
2. They can only sell shares to friends and family
3. All of the above

Q6. Tick any of these that are advantages of taking over a competitor.

• It reduces the number of competitors in your market

1. 1. There may be a conflict on the best way of doing things

• You can share ideas and expertise

1. You can steal their ideas.

Q7. What is a franchise?

• When someone from outside of the business opens a branch that uses the image and reputation of the firm

1. When the head office of a big firm open a new branch
2. Both A and B
3. None of the above

Q8. Select any of the following that are stakeholders of McDonalds.

1. 1. Owner
   2. Employee
   3. Competitor
   4. Anti-Obesity charity
   5. Supplier

• All of the above

Q9. What does the M stand for in ‘SMART’ objectives?

1. 1. Meaningful

• Measurable

1. Misleading
2. Mesmorising

Q10. Every stakeholder has a say in major decision making within a business.

1. 1. True

• False

Q11. When deciding on the location of your business, you want somewhere with high ‘footfall’. What does ‘ high footfall’ mean?

1. 1. An area where people seem to fall over a lot

• An area with high traffic of people on foot

1. An area where high numbers of people like football

Q12. Which area do you think has a higher level of ‘footfall’.

• Liverpool 1

1. Ormskirk
2. Southport
3. Maghull Square

Q13. What might be a downside to a city center location?

1. 1. Lots of competitors in same area
   2. High levels of rent
   3. Parking is expensive for potential customers

• All of the above

Q14. An advantage of asking closed-answer questions in a questionnaire is that they are easier to analyze.

• True

1. False

Q15. If you carry out the market research yourself it is called ____________ research. 

(primary/secondary)
Correct Answer : primary

Check out: Top 15 Quiz for students

1. Business Quiz questions for Management Fest

Q1. Douglas McGregor defined two main styles of management; what did he call them and how are each of the two styles typified?

Answer – X-Theory (or Theory-X – is authoritarian, autocratic and repressive) and Y-Theory (or Theory-Y – participative, delegating, and developmental – or words to similar effect as these two descriptions)

Q2. With what was the Kyoto Summit concerned?

Answer – Global climate change (in other words, greenhouse gas emissions)

Q3. What are the four sequential stages of the ‘conscious competence’ learning model?

Answer – Unconscious Incompetence, Conscious Incompetence, Conscious Competence, Unconscious Competence

Q4. What is the ‘1st Law of Cybernetics’ (aka the ‘Law of Requisite Variety’)?

Answer – The unit within the system with the most behavioural responses available to it controls the system. (or words to that effect)

Q5. What are the four main ‘Temperament’ types called within David Keirsey’s Temperaments personality theory?

Answer – Artisan, Idealist, Guardian, Rational/Rationalist
Q6. According to the Tannenbaum and Schmidt Continuum theory relating to leadership, delegation and team development, what must be reduced in order for the team’s area of freedom (and growth) to increase?

Answer – The manager’s use of authority

Q7. What does the financial term ROI stand for?

Answer – Return On Investment

Q8. Whose experiential learning theory comprises the learning styles named: Concrete Experience (feeling); Abstract Conceptualization (thinking); Active Experimentation (doing); and Reflective Observation (watching)?

Answer – David Kolb 

Q9. Daniel Goleman was responsible for popularising and defining what management and behavioural concept in his eponymously titled (ie., the title is also the subject) 1995 book?

Answer – Emotional Intelligence

Q10. What is psychometrics?

Answer – The science of measuring (or testing) human personality type (or mental abilities)

Q11. What is the management technique that is commonly and informally abbreviated to MBWA?

Answer – Management By Walking About (or Wandering Around) – the term is generally attributed to Tom Peters (In Search Of Excellence, 1982) although it was probably part of a new management ideology first pioneered by a few bright American companies as far back as the 1940’s

Q12. Large size hand-writing generally indicates what characteristics in the personality of the writer?

Answer – Extraverted or out-going nature

Q13. Since October 2004, UK employers must follow a minimum process of three-stages for handling disputes with employees, including disciplinary and grievance matters; what are the basic minimum three stages required?

Answer – Write a letter to the employee explaining the issue; Have a meeting with the employee to discuss the issue; Hold or offer an appeal meeting with the employee if required.

Q14. What are the ‘Four Functional Types’ within Carl Jung’s theory?

Answer – Thinking, Feeling, Sensation, Intuition

Q15. Bruce Tuckman’s theory about team development uses what four sequential rhyming words to describe the four stages of a group’s progression?

Answer – Forming, Storming, Norming, Performing

Q16. What are Howard Gardner’s seven (original) Multiple Intelligences?

Answer – Linguistic (words and language), Logical-Mathematical (logic and numbers), Musical (music, sound, rhythm), Bodily-Kinesthetic (body movement control), Spatial-Visual (images and space), Interpersonal (other people’s feelings), Intrapersonal (self-awareness)

Q17. According to Herzberg’s motivational theory, which of these are ‘hygiene needs’ (also called ‘maintenance factors’) and which are true ‘motivators’: work conditions, salary, achievement, advancement, work itself, responsibility, company car, status, recognition, and personal growth?

Answer – Of the examples listed, hygiene needs are: work conditions, salary, company car, status (true motivators in the list are achievement, recognition, work itself, responsibility, advancement, and personal growth)

Q18. What does VAK stand for in the learning styles theory?

Answer – Visual, Auditory, Kinesthetic/Kinaesthetic (three different learning styles or methods – seeing, listening, doing)

Q19. What does the business acronym IPO stand for?

Answer – Initial Public Offering (meaning 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)

Q20. What does the PEST stand for in PEST analysis?

Answer – Political, Economical, Social, Technological

Explore: Top 8 reasons why quiz are beneficial

1. Easy business quiz questions

Q1. Which companies’ mobile phones are marketed with the slogan – Big inside. Small Outside
a) Nokia
b) Sony
c) Samsung
d) Motorola
Q2. Which Indian Enterprise used the slogan – Improving the quality of Life.
a) Reliance
b) TATA
c) Birla
d) ITC

Q3. Which newspaper says you needn’t read us to understand us?
a) Times of India
b) The Hindu
c) Indian Express
d) Malayalam Manorama
Q4. Which network marketing company sells with the slogan – Better Ideas- Better Life
a) Amway
b) SkyBiz
c) HLL
d) Nirma
Q5. What is the name of the mobile company which was acquired by Sony ?
a) Nokia
b) Ericsson
c) DoCoMo
d) CellOne
Q6. Forester is the name of a car manufactured by
a) Ford
b) BMW
c) Chevrolet
d) Mitsubishi
Q7. Louie Philippe is the brand name of a
a) shirt
b) paper
c) car
d) luggage ware
Q8. Power is the name of oil from which of the following Oil giants?
a) IOCL
b) HP
c) BPCL
d) Shell
Q9. Carrier is a leading name in the field of
a) Air Cooling
b) Air Conditioning
c) Refrigeration
d) Icing
Q10. Which car gives you – Fun on the Run
a) Alto
b) Icon
c) Lancer
d) City

1. Business Quiz Current Affairs

Q1.According to ILO, the Global Unemployment rate is expected to fall slightly to what percent in 2024?

[A] 4.5%

[B] 4.9%

[C] 5.3%

[D] 5.5%

Q2. Which institution recently released the framework for Self-Regulatory Organisations (SROs) for the fintech sector?

[A] RBI

[B] SEBI

[C] NABARD

[D] IRDAI

Q3. Recently, which organization has launched the ‘Bank Clinic’ initiative to assist bank customers with grievance redressal?

[A] All India Bank Employees’ Association (AIBEA)

[B] State Bank of India (SBI)

[C] Ministry of Finance

[D] None of the Above

Q4. Recently, which country emerged as India’s third largest export destination in 2023-24?

[A] Netherlands

[B] Mexico

[C] Malaysia

[D] Singapore

Q5. NPCI International Payments Ltd (NIPL) recently joined hands with which South American country to enable UPI payments?

[A] Brazil

[B] Argentina

[C] Peru

[D] Chile

Q6. Recently, CSC SPV signed an MoU with which ministry to convert 10,000 FPOs into CSCs?

[A] Ministry of Agriculture

[B] Ministry of Communications

[C] Ministry of Defence

[D] Ministry of MSMEs

Q7. Which organization recently released the ‘Global Economic Prospects’ report?

[A] World Bank

[B] UNEP

[C] UNDP

[D] ILO

Q8. Which aerospace company recently has signed an agreement with UAE’s Edge Group to collaborate on drones, missiles, and cyber technologies?

[A] Adani Defence

[B] Tata Advanced Systems Limited

[C] Aeronautical Development Agency

[D] Mahindra Aerospace

Q9. Recently, the APEDA has facilitated the successful export of the first consignment of MD 2 variety pineapples to which country?

[A] Sri Lanka

[B] France

[C] UAE

[D] Myanmar

Q10. Which firm has recently joined the Low Methane Rice project (LMRP) to promote Direct Seeded Rice (DSR) in Uttar Pradesh?

[A] KisanKraft Limited

[B] Reliance Industries

[C] Ambrosia Organic Farm

[D] Tata Group

Q11. Right to Repair Portal, recently seen in news, was launched by which ministry?

[A] Ministry of Defence

[B] Ministry of  Science and Technology

[C] Ministry of Power

[D] Ministry of Consumer Affairs

Q12. Emergency Credit Line Guarantee Scheme (ECLGS), recently seen in the news, is under the operational domain of which ministry?

[A] Ministry of Urban Development

[B] Ministry of Defence

[C] Ministry of Finance

[D] Ministry of Rural Development

Q13. According to the NITI Aayog report, India has set a target to achieve 500 billion US dollar in electronics manufacturing in value terms by which year?

[A] 2025

[B] 2027

[C] 2030

[D] 2032

Q14. How much funding has the Finance Ministry recently allocated for the Namo Drone Didi scheme?

[A] Rs 600 crore

[B] Rs 400 crore

[C] Rs 500 crore

[D] Rs 300 crore

Q15. Recently, the Atomic Minerals Directorate for Exploration and Research (AMD) discovered 1600 tonnes of lithium resources in which state?

[A] Gujarat

[B] Rajasthan

[C] Kerala

[D] Karnataka

Q16. What is ‘Surrogate Advertising’, recently seen in the news?

[A] A type of advertisement for new sports equipment

[B] An advertisement that duplicates the brand image of one product to promote another product of the same brand

[C] A campaign to promote public health

[D] A form of digital marketing

Q17. Which ministry recently launched “Version 4.0 of Price Monitoring System (PMS) Mobile app”?

[A] Ministry of Consumer Affairs, Food and Public Distribution

[B] Ministry of Agriculture

[C] Ministry of Power

[D] Ministry of Rural Development

Q18. What is ‘Cheque Truncation System (CTS)’, recently seen in the news?

[A] The process of transferring a physical cheque from the drawer to the paying bank

[B] The process of stopping the physical movement of a cheque and using its electronic image instead

[C] The process of clearing a cheque without any security measures

[D] The process of verifying a cheque manually at the paying bank branch

Q19. What is an ‘Overnight Index Swap (OIS)’, recently seen in the news?

[A] A fixed-income security

[B] A derivative instrument that swaps fixed-rate returns with a daily overnight index

[C] A type of equity investment

[D] A foreign exchange contract

Q20. What is ‘Tantalum’, recently seen in the news?

[A] Black Hole

[B] Rare metal

[C] Asteroid

[D] Submarine

Discover : Best Undergraduate Business schools and master your business skills

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 assistance you may require building a future career in business. You can even drop a comment below! 

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FAQs

Ques 1: How can I prepare for a business quiz? 

Answer 1: 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. 

Ques 2: Are business quizzes helpful? 

Answer 2: 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. 

Ques 3: Is it appropriate to include multiple-choice questions in a quiz? 

Answer 3: 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. 

WRITTEN BY

Aastha

Study Abroad Expert

Aastha Arya is a Senior Content Writer at iSchoolConnect who writes about topics covering study abroad trends, exclusive news updates and prolific college courses. She has a 4-year of experience in this field and also likes to keep tabs on recent events, visa policy changes, and many other concerns that affect international students.

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