TLE (7) - Entrepreneurship 8) Which term refers to people, institutions or

1) In the entrepreneurial world, new ideas and organizations for whom the business is designed?
opportunities are evolving. What is the ability to create a. sample
new things, invest in new enterprises and expand b. population
business? c. market
a. Creativity d. society
b. Entrepreneurship 9) Which one is not included in planning a business?
c. Manufacturing a. how and when to do it
d. Producing b. how to increase profits
2) Alvin has transferred to a new locality. He observed c. what to expect in the future
that there is an opportunity for him to put up his own d. what to do
business since he has enough capital and very much 10) What is the benefit of business planning wherein
interested to the idea. Which of these factors must he the entrepreneur determines whether the business is
possess so that he will not rely on the services of the profitable or not?
employees? a. minimize cost production
a. Markets b. detect the weakness of the business
b. Manpower c. eliminate business risk
c. Supply of resources d. estimate sales
d. Knowledge/Skills 11) What is thinking ahead of objectives, strategies,
3) Management functions and principles play a very financing, production, marketing, profit proposal and
critical role in running a business. What principle of growth facilities?
planning specifies that the objectives of an a. forecasting
entrepreneur should match the needs of the society? b. managing
a. must be realistic c. planning
b. must be based on felt needs d. projecting
c. must focus on dealing with a crisis 12) Business enterprises should operate in a dynamic
d. must start with a simple project environment in order to survive. What kind of
4) Entrepreneurs use various management tools to environment includes technological, social and
succeed in a business. What management tool is ethical/political factors?
used to analyze business opportunities? a. Macro environment
a. Environmental scanning b. Micro environment
b. Market study c. Technological environment
c. Market survey d. Social environment
d. SWOT 13) Mr. Silva purchased a right to operate an already
5) When an entrepreneur communicates with people established business, what type of retail ownership is
through interviews, observations and advertisement it?
on what is new, what entrepreneurial activity does a. Corporate
he/she engage? b. Franchise
a. Statistical study c. Independent
b. Marketing study d. Single-store-ownership
c. Entrepreneurial scanning 14) Who among the following is the principal actor of
d. Environmental scanning the production?
6) There are P's in preparing market research. Which a. Entrepreneur
P in marketing is designed to communicate the b. Customer
product to customers? c. Production manager
a. Place d. Worker
b. Price 15) These are the perishable tangible used in the
c. People production process.
d. Promotion a. Financial resources
7) The site of the business enterprise is one of the b. Human resources
requirements of entrepreneurship. Which of the c. Information resources
following is the most important in choosing the best d. Material resources
location for the business? 16) Which method of establishing a business starts
a. access to supplies and raw materials from scratch?
b. clean, decent and peaceful environment a. buy-out
c. less competitors in the area b. franchising
d. enough capital to pay space rental
c. loan Philippines.
d. start-up b. Borrow money from friends and relatives.
17) What brief description of the market describes the c. Avail of the government program on financing
buyers and users of the product and the area of micro-macro business.
dispersion? d. Use part of her retirement benefit.
a. market analysis 25) If her business idea is a boutique, what quality of
b. market dispersion a future entrepreneur is INAPPROPRIATE?
c. marketing a. Relaxed
d. market study b. Hard worker
18) It is a type of organization wherein a superior c. Risk taker
delegates authority to a subordinate. d. Innovative
a. committee type 26) Which of the following is NOT a characteristic of
b. functional type an entrepreneur?
c. line type a. Coping with failure
d. line and staff type b. Irritated
19) Which is one disadvantage of a functional type of c. Opportunity seeker
organization? d. Persistent
a. Morale is likely to be low when discipline is weak. 27) Which among these characteristics of an
b. Each manager is supreme in his own field. entrepreneur is UNDESIRABLE?
c. It is difficult to secure executives and superiors with a. Opportunity seeker
an all around knowledge. b. Goal setter
d. There is greater flexibility. c. Futuristic
20) What type of product, as designed, produced and d. Impassive
marketed by the seller? 28) Which of the following is a primary cause of failure
a. Licensed brand in small business?
b. National brand a. Poor financial control
c. Private label brand b. Poor location
d. Trademark c. Management mistakes
21) Which of the following is the correct definition of d. Improper inventory control
the term "entrepreneur"? A person who ________. 29) Which of these traits gets an entrepreneur off of
a. pursues opportunity without regard to resources his feet and puts him into action, turning daydream
b. starts a new business with the aim of making a into reality?
profit a. Perseverance
c. seeks to create value for local communities, people b. Ambition
or customer by starting new ventures which exploit c. Creativity
new products, processes or markets. d. Enthusiasm
d. seeks to generate value through creation or 30) Which entrepreneurial trait gives an entrepreneur
expansion of economic activity, by identifying and a positive outlook in life which gives the energy to
exploiting new products, processes or markets pursue his endeavors?
22) Which of the following skills are NOT needed by a. Perseverance
an entrepreneur? b. Ambition
a. Technical skills c. Creativity
b. Personal entrepreneurial skills d. Enthusiasm
c. Working skills 31) Which trait is an entrepreneur able to withstand
d. Business management skills the troubles that come with a starting business?
23) Which of the following statement is a. Perseverance
INAPPROPRIATE in starting a business? b. Ambition
a. Study the concepts and principles of c. Creativity
entrepreneurial skills. d. Enthusiasm
b. Cope with failures of the business. 32) What is the general function of marketing,
c. Undergo training on entrepreneurial skills. involves the physical meeting point for buyers and
d. Know what characteristics are needed to become sellers at the point of production or via some other
an entrepreneur. means of communication?
24) Which of the following is NOT a source of fund for a. Specific functions
Mr. Fajardo's future business? b. Exchange functions
a. Seek assistance from Central Bank of the
c. Physical functions 40) A marketing mix that can have both tangible and
d. Facilitating functions intangible aspects and is the thing you offer to satisfy
33) Which type of marketing functions, enables the your customers' wants and needs is ________.
actual flow of commodities through space and time a. Product
from producer to consumer and their transformation to b. Packaging
a form desirable function to the consumers? c. Price
a. Specific functions d. Promotion
b. Exchange functions 41) Which is considered to be the best way to assess
c. Physical functions entrepreneurial projects or business ventures?
d. Facilitating functions a. Environmental analysis
34) From a social viewpoint, which of the following b. SWOT analysis
statements about marketing objective is NOT true? c. Competitor analysis
a. Assist in the efficient allocation of resources. d. PEST analysis
b. Create wealth and promote economic growth. 42) An analysis that provides the details for
c. Improve income distribution among different sectors opportunities and threats of a business to make better
of the economy. decisions regarding marketing plan is termed
d. Maintain instability of supply and demand for ________.
marketed goods. a. Environmental analysis
35) Which is considered a vehicle for informing target b. SWOT analysis
market about the enterprise and the products or c. Competitor analysis
services? d. PEST analysis
a. Product 43) The acronym SWOT stands for:
b. Price a. Strengths-Weaknesses-Options-Testing
c. Place b. Strengths-Weaknesses-Opportunities-Testing
d. Promotion c. Strengths-Weaknesses-Options-Threats
36) At what stage of marketing effort does an d. Strengths-Weaknesses-Opportunities-Threats
entrepreneur concentrate on targeting a new market 44) Which question is asked at the first stage in the
of buyers and taking market share from competitors marketing planning process of an enterprise?
by price cutting or relaunching the product? a. Where are we now?
a. Introduction b. Where are we heading?
b. Growth c. Are we on course?
c. Maturity d. Where would we like to be?
d. Decline 45) Which of these stages is the final stage in the
37) Which of the following is NOT appropriate in marketing planning process flow chart?
running a small-scale business? a. Control
a. Keeping clear records b. Marketing planning mix
b. Verifying profit and loss c. Setting marketing objectives
c. Managing cash flow d. Setting the product price
d. Distribution channel 46) An entrepreneur might select a target market
38) Which marketing channel operates with capital probably because the target market ________.
owned directly by the operators and their partners, or a. is attractive to the business and matches its supply
in some cases by shareholders? capabilities
a. Cooperatives b. is large and well-served with existing products
b. Independent, locally based private enterprise c. is fully understood by the entrepreneur
c. Marketing boards and other state enterprises d. has a proven track record for buying product
d. Transnational companies 47) A carefully thought structured formal commercial
39) At which stage of a product life cycle must an report that is extraordinary well documented and
entrepreneur decide whether he wants to try to clearly written to safeguard any wastage of further
rejuvenate the product by investing in development investment project is called ________.
and aggressive marketing or to quietly admit defeat a. Portfolio
and exit the market? b. Business plan
a. Introduction c. Resume
b. Growth d. Feasibility study
c. Maturity 48) Which is considered as a comprehensive and
d. Decline effective blueprint to guide an entrepreneur in a
business venture?
a. Resume
b. Portfolio
c. Business plan
d. Insurance plan
ANSWERS:
1. B
2. D
3. B
4. D
5. B
6. D
7. A
8. C
9. B
10. C
11. C
12. A
13. B
14. C
15. D
16. D
17. D
18. C
19. A
20. C
21. C
22. C
23. B
24. A
25. A
26. B
27. D
28. B
29. B
30. D
31. A
32. B
33. C
34. D
35. C
36. C
37. C
38. B
39. D
40. A
41. B
42. D
43. D
44. A
45. A
46. A
47. D
48. C