General Education Development (GED) Practice Exam

Which activity most effectively assesses students' mastery of small business learning objectives?

1. Asking students to create and market a new invention

2. Asking students to design and implement a community service project

3. Requiring students to complete an internship or externship

4. Having students write and present a business plan

The correct answer is: Having students write and present a business plan

Having students write and present a business plan is an excellent way to assess their mastery of small business learning objectives for several reasons. First, crafting a business plan requires students to synthesize various elements of business knowledge, including market analysis, financial projections, operational plans, and marketing strategies. This comprehensive approach ensures that students not only understand theoretical concepts but also how to apply them in a practical context. Furthermore, the presentation aspect of the task allows students to develop important communication skills, which are critical in the business world. They need to articulate their ideas clearly and persuasively, answering questions and defending their choices, which reflects real-world scenarios they might face when pitching their ideas to potential investors or stakeholders. In contrast, while creating a new invention or designing a community service project may engage creativity and practical skills, these activities may not necessarily cover the specific components of small business management or strategy in as structured a manner as writing and presenting a business plan does. An internship or externship provides valuable experience but may vary significantly in quality and relevance, potentially missing some targeted learning objectives specific to small businesses. Overall, developing and presenting a business plan aligns closely with essential small business learning outcomes and gives students a concrete way to demonstrate their understanding and readiness to operate in the business