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

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