TLE (7) - Entrepreneurship c.

People
1) In the entrepreneurial world, new ideas and d. Promotion
opportunities are evolving. What is the ability 7) The site of the business enterprise is one of
to create new things, invest in new enterprises the requirements of entrepreneurship. Which
and expand business? of the following is the most important in
a. Creativity choosing the best location for the business?
b. Entrepreneurship a. access to supplies and raw materials
c. Manufacturing b. clean, decent and peaceful environment
d. Producing c. less competitors in the area
2) Alvin has transferred to a new locality. He d. enough capital to pay space rental
observed that there is an opportunity for him 8) Which term refers to people, institutions or
to put up his own business since he has organizations for whom the business is
enough capital and very much interested to designed?
the idea. Which of these factors must he a. sample
possess so that he will not rely on the services b. population
of the employees? c. market
a. Markets d. society
b. Manpower 9) Which one is not included in planning a
c. Supply of resources business?
d. Knowledge/Skills a. how and when to do it
3) Management functions and principles play b. how to increase profits
a very critical role in running a business. What c. what to expect in the future
principle of planning specifies that the d. what to do
objectives of an entrepreneur should match 10) What is the benefit of business planning
the needs of the society? wherein the entrepreneur determines whether
a. must be realistic the business is profitable or not?
b. must be based on felt needs a. minimize cost production
c. must focus on dealing with a crisis b. detect the weakness of the business
d. must start with a simple project c. eliminate business risk
4) Entrepreneurs use various management d. estimate sales
tools to succeed in a business. What 11) What is thinking ahead of objectives,
management tool is used to analyze business strategies, financing, production, marketing,
opportunities? profit proposal and growth facilities?
a. Environmental scanning a. forecasting
b. Market study b. managing
c. Market survey c. planning
d. SWOT d. projecting
5) When an entrepreneur communicates with 12) Business enterprises should operate in a
people through interviews, observations and dynamic environment in order to survive.
advertisement on what is new, what What kind of environment includes
entrepreneurial activity does he/she engage? technological, social and ethical/political
a. Statistical study factors?
b. Marketing study a. Macro environment
c. Entrepreneurial scanning b. Micro environment
d. Environmental scanning c. Technological environment
6) There are P's in preparing market research. d. Social environment
Which P in marketing is designed to 13) Mr. Silva purchased a right to operate an
communicate the product to customers? already established business, what type of
a. Place retail ownership is it?
b. Price a. Corporate
b. Franchise person who ________.
c. Independent a. pursues opportunity without regard to
d. Single-store-ownership resources
14) Who among the following is the principal b. starts a new business with the aim of
actor of the production? making a profit
a. Entrepreneur c. seeks to create value for local communities,
b. Customer people or customer by starting new ventures
c. Production manager which exploit new products, processes or
d. Worker markets.
d. seeks to generate value through creation or
15) These are the perishable tangible used in expansion of economic activity, by identifying
the production process. and exploiting new products, processes or
a. Financial resources markets
b. Human resources
c. Information resources 22) Which of the following skills are NOT
d. Material resources needed by an entrepreneur?
a. Technical skills
16) Which method of establishing a business b. Personal entrepreneurial skills
starts from scratch? c. Working skills
a. buy-out d. Business management skills
b. franchising
c. loan 23) Which of the following statement is
d. start-up INAPPROPRIATE in starting a business?
a. Study the concepts and principles of
17) What brief description of the market entrepreneurial skills.
describes the buyers and users of the product b. Cope with failures of the business.
and the area of dispersion? c. Undergo training on entrepreneurial skills.
a. market analysis d. Know what characteristics are needed to
b. market dispersion become an entrepreneur.
c. marketing
d. market study 24) Which of the following is NOT a source of
fund for Mr. Fajardo's future business?
18) It is a type of organization wherein a a. Seek assistance from Central Bank of the
superior delegates authority to a subordinate. Philippines.
a. committee type b. Borrow money from friends and relatives.
b. functional type c. Avail of the government program on
c. line type financing micro-macro business.
d. line and staff type d. Use part of her retirement benefit.
19) Which is one disadvantage of a functional 25) If her business idea is a boutique, what
type of organization? quality of a future entrepreneur is
a. Morale is likely to be low when discipline is INAPPROPRIATE?
weak. a. Relaxed
b. Each manager is supreme in his own field. b. Hard worker
c. It is difficult to secure executives and c. Risk taker
superiors with an all around knowledge. d. Innovative
d. There is greater flexibility.
26) Which of the following is NOT a
20) What type of product, as designed, characteristic of an entrepreneur?
produced and marketed by the seller? a. Coping with failure
a. Licensed brand b. Irritated
b. National brand c. Opportunity seeker
c. Private label brand d. Persistent
d. Trademark
27) Which among these characteristics of an
21) Which of the following is the correct entrepreneur is UNDESIRABLE?
definition of the term "entrepreneur"? A a. Opportunity seeker
b. Goal setter a. Assist in the efficient allocation of
c. Futuristic resources.
d. Impassive b. Create wealth and promote economic
28) Which of the following is a primary cause growth.
of failure in small business? c. Improve income distribution among different
a. Poor financial control sectors of the economy.
b. Poor location d. Maintain instability of supply and demand
c. Management mistakes for marketed goods.
d. Improper inventory control 35) Which is considered a vehicle for
29) Which of these traits gets an entrepreneur informing target market about the enterprise
off of his feet and puts him into action, turning and the products or services?
daydream into reality? a. Product
a. Perseverance b. Price
b. Ambition c. Place
c. Creativity d. Promotion
d. Enthusiasm 36) At what stage of marketing effort does an
30) Which entrepreneurial trait gives an entrepreneur concentrate on targeting a new
entrepreneur a positive outlook in life which market of buyers and taking market share
gives the energy to pursue his endeavors? from competitors by price cutting or
a. Perseverance relaunching the product?
b. Ambition a. Introduction
c. Creativity b. Growth
d. Enthusiasm c. Maturity
d. Decline
31) Which trait is an entrepreneur able to
withstand the troubles that come with a 37) Which of the following is NOT appropriate
starting business? in running a small-scale business?
a. Perseverance a. Keeping clear records
b. Ambition b. Verifying profit and loss
c. Creativity c. Managing cash flow
d. Enthusiasm d. Distribution channel

32) What is the general function of marketing, 38) Which marketing channel operates with
involves the physical meeting point for buyers capital owned directly by the operators and
and sellers at the point of production or via their partners, or in some cases by
some other means of communication? shareholders?
a. Specific functions a. Cooperatives
b. Exchange functions b. Independent, locally based private
c. Physical functions enterprise
d. Facilitating functions c. Marketing boards and other state
enterprises
33) Which type of marketing functions, d. Transnational companies
enables the actual flow of commodities
through space and time from producer to 39) At which stage of a product life cycle must
consumer and their transformation to a form an entrepreneur decide whether he wants to
desirable function to the consumers? try to rejuvenate the product by investing in
a. Specific functions development and aggressive marketing or to
b. Exchange functions quietly admit defeat and exit the market?
c. Physical functions a. Introduction
d. Facilitating functions b. Growth
c. Maturity
34) From a social viewpoint, which of the d. Decline
following statements about marketing
objective is NOT true? 40) A marketing mix that can have both
tangible and intangible aspects and is the
thing you offer to satisfy your customers' 47) A carefully thought structured formal
wants and needs is ________. commercial report that is extraordinary well
a. Product documented and clearly written to safeguard
b. Packaging any wastage of further investment project is
c. Price called ________.
d. Promotion a. Portfolio
41) Which is considered to be the best way to b. Business plan
assess entrepreneurial projects or business c. Resume
ventures? d. Feasibility study
a. Environmental analysis 48) Which is considered as a comprehensive
b. SWOT analysis and effective blueprint to guide an
c. Competitor analysis entrepreneur in a business venture?
d. PEST analysis a. Resume
42) An analysis that provides the details for b. Portfolio
opportunities and threats of a business to c. Business plan
make better decisions regarding marketing d. Insurance plan
plan is termed ________. ANSWERS:
a. Environmental analysis 1. B
b. SWOT analysis 2. D
c. Competitor analysis 3. B
d. PEST analysis 4. D
43) The acronym SWOT stands for: 5. B
a. Strengths-Weaknesses-Options-Testing 6. D
b. Strengths-Weaknesses-Opportunities- 7. A
Testing 8. C
c. Strengths-Weaknesses-Options-Threats 9. B
d. Strengths-Weaknesses-Opportunities- 10. C
Threats 11. C
44) Which question is asked at the first stage 12. A
in the marketing planning process of an 13. B
enterprise? 14. C
a. Where are we now? 15. D
b. Where are we heading? 16. D
c. Are we on course? 17. D
d. Where would we like to be? 18. C
19. A
45) Which of these stages is the final stage in 20. C
the marketing planning process flow chart? 21. C
a. Control 22. C
b. Marketing planning mix 23. B
c. Setting marketing objectives 24. A
d. Setting the product price 25. A
46) An entrepreneur might select a target 26. B
market probably because the target market 27. D
________. 28. B
a. is attractive to the business and matches its 29. B
supply capabilities 30. D
b. is large and well-served with existing 31. A
products 32. B
c. is fully understood by the entrepreneur 33. C
d. has a proven track record for buying 34. D
product 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