Froggy Jumps Small Business Success QuizOnline version Test your knowledge on small businesses and their impact on the economy! by sarah ayyad 1 What defines a small business? a A business with over 1,000 employees. b Any business with less than $1 million in revenue. c A business with fewer than 500 employees. 2 Why are small businesses important to the economy? a They monopolize the market. b They have no impact on the economy. c They create jobs and drive innovation. 3 What percentage of U.S. businesses are small businesses? a 99.9% b 50% c 75% 4 How do small businesses contribute to local communities? a By reducing local investments. b By outsourcing jobs overseas. c By supporting local economies and creating jobs. 5 What is a common challenge faced by small businesses? a Access to funding and capital. b Too many customers. c Excessive profits. 6 Which sector employs the most people in small businesses? a Agricultural sector. b Service sector. c Manufacturing sector. 7 What role do small businesses play in innovation? a They often introduce new products and services. b They only replicate large businesses. c They have no role in innovation. 8 What is a key factor for small business success? a High employee turnover. b Ignoring customer feedback. c Effective marketing strategies. 9 How can small businesses impact economic growth? a By limiting market options. b By increasing competition and consumer choice. c By reducing employment opportunities. 10 What is a common reason small businesses fail? a Having too many employees. b Excessive advertising. c Poor financial management.
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