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TLE Review

TLE Review

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Published by: api-3729315 on Oct 15, 2008
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09/17/2014

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Direction:Encircle the letter of the correct answer.1.Known as world tradea.export and import of goods among nationsb.circulation of money in the early timesc.exchange of goods with other tribesd.exchange foods for other things2.Used to pay goods and services and is the medium of exchange in tradingwith other countries.a.other goodsc.foodsb.moneyd.things3.The system of exchange through which goods and services are traded in thecommunity, using the medium of money.a.barter economyc.money economyb.economyd.technology4.The system of exchange through which goods and services are traded inexchange for land, clothing for food, and food for services.a.barter economyc.money economyb.economyd.technology5.People with some money to start with, put up small stores that sell food andother needs of the people in the community.a.micro entrepreneursc.medium entrepreneursb.large entrepreneursd.small entrepreneurs6.An organized task of people to produce and sell goods and services isa.businessc.industryb.economyd.technology
7.
Who takes the risk of organizing and operating a certain kinds of business isana.entrepreneurshipc.entrepreneurb.small businessd.business owner8.A very small business in which the owner is the principal workera.micro businessc.medium businessb.macro businessd.small business9.Owned and manage by an individual or group and has only enough resourcesto continue operating. Grocery, bakeshop and restaurant belong toa.large businessc.small businessb.medium businessd.micro business10.Business owned and operated by a single person, two business partners or acorporation.a.large businessc.small businessb.medium businessd.micro business11.Persons engaged in selling goods and servicesa.entrepreneurc.ownerb.business peopled.traders12.An enterprise manage by its ownera.large businessc.small businessb.micro businessd.medium business13.A feature of a small business enterprisea.personalized servicesc.public serviceb.greater capitald.lesser work14.Manager of a small businessa.ownerc.small businessb.entrepreneurd.businessmen15.The ability to create something new, or to think of new ways of doing things.a.discoveryc.innovationb.inventiond.restoration16.Refers to seed money, equipment, machines and materialsa.capitalc. supplyb.demandd.liability17.Expertise in business management and operationa.creativityc. innovativenessb.entrepreneuriald.salesmanship18.President of various business enterprises and that manufactures of passenger jeeps.a.Leonardo Saraoc.Leonardo da Vincib.Leonardo Leonardod.Leonardo Madrazo
 
19.Part of the national budget comes from taxes paid by _________.a.wealthy familiesc.entrepreneursb.poor familiesd.foreigners20.______________helps solve unemployment among the people.a.innovatorsc. business managementb.inventorsd.business enterprise21.It exist at all times, because people need goods and services to survive.a.demandc.business needsb.business opportunitiesd.supply
22.
Factor in searching for business opportunities that ask: What products are indemand?a.the need of the communityc.available resourcesb.skills and interestsd.market
23.
Factor in searching for business opportunities that ask: Do you have moneyfor capital?a.the need of the communityc.available resourcesb.skills and interestsd.market
24.
Factor in searching for business opportunities that ask: Does the particularbusiness activity meet your interest?a.skills and interestsc.available resourcesb.the need of the communityd.market
25.
Factor in searching for business opportunities that ask: Who will buy yourproducts?a.marketc.suppliers of raw materialsb.manpowerd.technology26.Factor in searching for business opportunities that ask: Are materials alwaysavailable?a.suppliers of raw materialsc.marketb.manpowerd.technology27.Factor in searching for business opportunities that ask: Are expert workersavailable?a.suppliers of raw materialsc.marketb.manpowerd.technology28.Factor in searching for business opportunities that ask: Is your product orservice new or improved?a.suppliers of raw materialsc.marketb.technologyd.manpower29.Includes all activities relating to the sale of goods and services direct toconsumers.a.wholesalingc.retailingb.sellingd.buying
30.
 The link between the producers and consumers.a.retailerc.wholesalera.buyerc.seller31.An activity concerned with obtaining the right kind of goods in the rightamount, at the right time, at the right price and, from the right source.a. purchasingc.retailing b.buyingd.selling32.The value that a retailer sets for the article for sale. It is the amount of moneypaid for goods or services.a.ceilingc.priceb.mark-upd.sales33.Margin of difference between cost price and selling price.a.selling pricec.mark-downc.c.o.d.d.mark-up34.Checking the quantity and quality of merchandise purchased.a.mark-upc.receivingb.purchasingd.price35.An activity concerned with obtaining food of the right kind, at the right pricefrom the right source.a.mark-upb.receivingb.purchasingd.price
 
36.Requires wise purchasing, vigilant checking, proper storage of goods, andreasonable pricing.a.wholesalingc.pricingb.purchasingd.retailing37.This sales type requires the customers to pay for cash for the goods he/shebuys and store delivers the goods to his/her home.a.Cash-Send or Cash Deliver Salec.Cash-Take-Saleb.Charge-Send or Charge-Deliverd.Charge-Take-Sale38.The customer pays for the goods and takes these homes with him/her.a.Cash-Send or Cash Deliver Salec.Cash-Take-Saleb.Charge-Send or Charge-Deliverd.Charge-Take-Sale39.The goods are charged to the customer and then deliver to his/her home.a.Charge-Send or Charge-Deliverc.Cash-Take-Saleb.Cash-Send or Cash Deliver Saled.Charge-Take-Sale40.The customer takes home the merchandise that has been charged tohim/her.a.Charge-Take-Salec. Cash-Take-Saleb.Cash-Send or Cash Deliver Saled.Cash-Send or Cash Deliver Sale
41.
Upon delivery of the merchandise to his/her home the customer pays cash forit.a.Lay-Away or Will-Call Salec.C.O.D. Sale b.Installment Saled.Part-Cash-Part Charge Sale42.The customer and the storeowner agree that a certain amount be paid on aspecified date until the merchandise is fully paid.a.Lay-Away or Will-Call Salec.C.O.D. Saleb.Installment Saled.Part-Cash-Part Charge Sale
43.
 This type of sale requires the customer to order a merchandise and requestthe store to lay-it away until he/she calls for it at the near future. The customermakes a deposit, and the store agrees to hold the merchandise for a specifiedperiod of time.a.Part-Cash-Part Charge Salec.C.O.D. Saleb.Installment Saled.Lay-Away or Will-Call Sale44.A part of the amount of the merchandise is paid in cash by the customer, andthe rest of the amount is charged to his/her account.a.Part-Cash-Part Charge Salec.C.O.D. Saleb.Installment Saled.Lay-Away or Will-Call Sale45.Production of goods and services.a.manufacturingb.retailingb.wholesalingd.purchasing46.Activities/benefits offered for sale.a.servicesc.installmentb.retailingd.wholesaling47.Anyone who engages in entrepreneurial activities/enterprises.a.entrepreneurc.servicesb.entrepreneurshipd.retailing48.Customer and storeowner agreement on the amount to be paid by thecustomer to the latter on specified dates.a.selling pricec.mark-upb.installmentd.mark-down49.Customer pays for the merchandise upon its delivery to him/her.a.c.o.d.c.mark-upb.mark-downd. installment50.Manufacturing activity that has a continuous production.a.Continuous Manufacturing or Flow Shopc.Intermittent Manufacturingb.Batch Manufacturingd.Project Manufacturing51.Manufacturing activity that is characterized by a drop out in production for acertain period of time.a.Continuous Manufacturing or Flow Shopc.Batch Manufacturingb.Intermittent Manufacturing or Job Ordersd.Project Manufacturing52.Manufacturing activity that falls midway between continuous flow and the joborder type.a.Flow Shopc.Project Manufacturingb.Job Ordersd.Batch Manufacturing

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