Which is an example of a small business?
Answer and explanation
Correct answer: Local grocery shop
A local grocery shop is a small business because it generally serves a limited market, operates with relatively modest resources, and sells goods to earn revenue. The sun and a river are natural objects, while an examination room is a place rather than a business organisation. Thus, only option A represents an operating business.
Frequently asked questions
What is the correct answer to this question?
Local grocery shop
Why is this the correct answer?
A local grocery shop is a small business because it generally serves a limited market, operates with relatively modest resources, and sells goods to earn revenue. The sun and a river are natural objects, while an examination room is a place rather than a business organisation. Thus, only option A represents an operating business.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Micro Small and Medium Enterprises.
