ASIAN INSTITUTE OF COMPUTER STUDIES

SENIOR HIGH SCHOOL DEPARTMENT

4th Quarterly Examination, School Year 2019-2020
Subject: Entrepreneurship – ENT 112

I. IDENTIFICATION. Identify the following statements. Write your answers on the blank provided.

________________ 1. It is Entrepreneural Process that refers to the recognition of a business idea or the detection
of opportunities that could make money for the entrepreneur.
________________ 2. He emphasized the role of entrepreneur in the process of economic transformation.
________________ 3. These individuals are willing to absorb huge risks of using enormous amounts of capital in
their business ventures.
________________ 4. Characteristics of an entrepreneur where individuals who became entrepreneurs in
developed countries are usually former employees of company in the formal sector.
________________ 5. These are associated with uncertainties in business operation.
________________ 6. Types of thinking that involves processes that assess the current situation that can be useful
in the formulation of plans for the future.
________________ 7. Thinking that refers to the systematic and rational way of providing an answer to a question.
________________ 8. It pertains to strategies related to the expansion of the business firm.
________________ 9. Usually megaentrepreneurs source of their funds from their own wealth and from their
family.
________________ 10. Studies have shown that entrepreneurs need some formal education to be able to seize
the opportunities

II. TRUE or FALSE. Write TRUE if the statement is correct and FALSE if the statement is incorrect.
Write your answers in the space provided. (2 Points each)

_____________1.Setting the objective involves the identification of an objective that sets an individual wishes to
achieve.
_____________2. Opportunity is a situation or occasion that makes it possible to do something that you want to
do.
_____________3. Recondition is the third stage provides the individual a hunch that can serve as an opportunity
for business.
_____________4. Realization is the last phase suggests the production of a prototype.
_____________5. Market awareness is a prior knowledge of the market that refers to personal exposure to market
and its components including customers and suppliers.
_____________6. Product or service which may be considered valuable by consumers may not be affordable.
Thus, the cost of the production as well as the unit price of the commodity is very important in the assessment
phase.
_____________7. The rational approach is also called the traditional approach.
_____________8. The stages of product life cycle are introduction, growth, maturity and decline.
_____________9. Business plan is a document that describes market.
_____________10. Location, Service Operation, Equipment&/or Furniture Required, Space Requirements & Labor
Requirements Requirements are the information about operations

III. DEFINITION OF TERMS. Give the meaning of the following terminology. ( 3 points each)

1. Marketing Plan—
2. Price –
3. Entrepreneur –
4. Megaentrepreneur –
5. Microentrepreneur –
6. Partnership –
7. Ownership—
8. Promotion –
9. Business Plan –
10. Market awareness –
 ASIAN INSTITUTE OF COMPUTER STUDIES
SENIOR HIGH SCHOOL DEPARTMENT
4th Quarterly Examination, School Year 2019-2020
Subject: Entrepreneurship – ENT 112

Key to correction:
I.
1. Discovery
2. Joseph Schumpeter
3. Megaentrepreneur
4. employment status
5. Risks
6. Strategic Thinking
7. Critical Thinking
8. Reaping the returns
9. Entrepreneur’s wealth
10.Level of education

II.
1. True
2. True
3. False
4. True
5. True
6. False
7. True
8. True
9. False
10. True

III.
1. It is a document containing the marketing objectives, marketing strategies, & the activities that will be
undertaken to execute these strategies.
2. It is an important consideration for many buyers, & must therefore be given appropriate attention by the
entrepreneur.
3. Comes from the French word “entreprendre” which means to undertake
4. Individuals re willing to absorb huge risks of using enormous amounts of capital in their business ventures.
5. They engage in micro and small businesses as an alternative to formal employment.
6. The sole proprietorship is owned by the individual who starts the business.
7. Is also relatively easy and inexpensive to set up, it has partnership agreement.
8. For start-up businesses, it is essential for the entrepreneur to make his product known to his potential
consumer.
9. Is a document that describes the various external & internal elements involved in starting a business or in
expanding an existing venture, amidst a dynamic business environment.
10. Refers to personal exposure to market and its components including customers and suppliers.