AMA COLLEGE MAKATI

Senior High School Department

Major Examination

1st Quarter Examination

SUBJECT CODE : ENTREP2122 SUBJECT TITLE: Entrepreneurship

SCHOOLYEAR: 2019-2020 SEMESTER: 1st Semester DATE:

GENERAL INSTRUCTION: Please answer each test item seriously and write your answer legibly. Use only SHORT BOND PAPER and
BLACK BALLPEN.

I. Multiple Choices. Select the letter of the correct answer. Erasure means wrong.
1. Which is not included in the importance of entrepreneurship to the economy?
A. They create job and contribute to a growing economy
B. Entrepreneurs add national income
C. Entrepreneurs are the catalyst of change, and they hamper they synergy effect of cooperation as tools for
development
D. Entrepreneurs create social change
2. How would you know if the business really adapts core competencies?

A. It has standardization C. It should be difficult for a competitor to

B. It has style replicate or imitate it
D. All of the above

3. Mcdonald serves nine million pounds of French fries everyday, and everyone of them has precisely the same taste and
texture. What did they apply in the core competency?

A. Standardization C. Hard to replicate or imitate by

B. Unique features competitors
D. They establish successful brand

4. It provides a guiding principle to small business which is making a match between its intended customers and its
product or services.

A. Marketing mix B. Marketing strategy C. Marketing concept D. None of these

5. The generation of income through sales is the primary activity that must be undertaken by any business. This is
facilitated through_______

A. Marketing B. Selling process C. Hiring staff D. Organizing

6. To be able to answer the marketing concept needed, the following must be undertaken, EXCEPT;

A. Devise a marketing strategy D. Identify the size of your financial

B. Use marketing research capability
C. Develop a marketing mix

7. Which of the following are/is correct about marketing mix?

A. It is composed of 4p’s such as the product, the price, the promotion, and the place
B. It is a combination of controllable marketing variables
C. It is used by the manager to carry out a marketing strategy in pursuit of the firm’s objective ina given target
market.
D. Both A and B
E. All of the above
8. It describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or
other contexts
A. Business Plan D. Business Model C. Business Canvass D. Business Diagram
9. It is a measurement system that calculates the margin of safety by comparing the amount of revenues or units that
must be sold to cover fixed and variable costs associated with making the sales
A. Break Even Point B. Accounting C. Business Model D. Assets
10. It describes how a company’s product or service fulfills the needs of customers and why a customer would buy from
the company.
A. USP B. Value Proposition C. Marketing D. Business Plan
11. Value Proposition: Brand, Product, Experience
 A. True B. False C. Partially true D. Partially false
12. It describes how a company plans to make money from its business because earning revenue can produce a superior
return on invested capital is the primary objective of a company.
A. Revenue Stream B. Revenue Model C. Financial Statement
13. Mr. Jared uses coupons, point-of-purchase materials, samples, signs, catalog, novelties, and circulars in promoting his
Miltea Shop. What type of promotion is he currently using?

A. Personal selling B. Advertising C. Sales promotion D. Word of mouth

14. The job of this type of salesperson is to increase the firms sales by selling to new customers and by increasing sales to
present customers.

A. Order getters B. Order takers C. support personnel D. Sales associate

15. Their job is to seek repeat sales from current customers by making sure that product quantities are there where and
when they are needed.

A. Order getters B. Order takers C. support personnel D. Sales associate

16. Which is the correct order of a selling process?

A. Preapproach, approach, prospecting and qualifying, handling objection, closing, follow-up
B. Presentation and Demonstration, prospecting and qualifying, preapproach, follow-up, closing, Approach,
Handling objection
C. Prospecting and Qualifying, preapproach, approach, presentation and demonstration, Handling objection,
closing, follow-up
D. Prospecting and qualifying, approach, preapproach, demonstration and presentation, follow-up, handling
objections, closing
17. Mr. Makabuhay made a further research about the prospects after shortlisting them, and he pictured out the qualified
customers indicating their needs and wants. What step of selling process is he now?

A. Approach B. Prospecting and qualifying C. Preapproach D. Handling objections

18. A lot of customers were so much skeptic with the presentation and demonstration made by Mr. Kanto about their
Latest brand New Iphone X1000. But surprisingly, many were convinced to buy the product since he fearlessly handled
the concerns and objection by the customers. Then he ended up saying the statement, “Which of the two model would
you prefer?”, …… “ If you will have this form signed, I will have the unit delivered immediately.” What step of the selling
process is he into?

A. Approach B. Presentation and demonstration C. Closing D. Follow-up

19. In the 4M’s of operation which of the following statement best describes the METHOD in operation?
A. It is using the Inventory Management System to establish what is needed and at what inventory stock levels
affects the first M Method
B. When examining the methods, you now have in place, what is the ideal number of people it will take to
perform these methods and what positions should they be in?
C. When examining your facilities, vehicles and tools, do you have everything you need to ensure the safety of
the employees while maximizing the efficiency and productivity of the department?
D. Do you have the materials needed to perform all parts of production and are they conveniently located to
minimize waste? Does the layout of the production department minimize wasted movement?
20. Cash, building, office supplies, inventory, and accounts receivable are examples of what element in accounting?
A. Assets B. Liabilities C. Owner’s equity D. Debit
21. _______ = Assets-Liabilities
A. Accounting Equation B. Owner’s Equity C. Break Even Point D. Balance Sheet
22. How is manpower executed in the 4M’s of operations?
A. It is using the Inventory Management System to establish what is needed and at what inventory stock levels
affects the first M Method
B. When examining the methods, you now have in place, what is the ideal number of people it will take to
perform these methods and what positions should they be in?
C. When examining your facilities, vehicles and tools, do you have everything you need to ensure the safety of
the employees while maximizing the efficiency and productivity of the department?
D. Do you have the materials needed to perform all parts of production and are they conveniently located to
minimize waste? Does the layout of the production department minimize wasted movement?
23. Why is product development very important?
A. To develop, sustain and increase an organization’s market share by satisfying consumer demand.
 B. Because it is the conceptualization, design, development and marketing of brand new or nearly branded
products or services
C. Both A and B
D. To increase output of production
24. Arrange the seven steps about Effective Product Development

I. SOLICIT FEEDBACK. NOW. V. DO NOT OVERSTOCK

II. REFINE YOUR DESIGN WITH VI. CONSIDER RETAILERS &
SIMPLICITY IN MIND COMMUNICATE WISELY
III. PRICE IT RIGHT VII. PROTECT YOUR IDEAS
IV. DO NOT SKIMP ON MATERIALS OF
MANUFACTURING

What is the correct order of process of Effective Product development?

A. I, II, III, IV, V, VI, VII C. VI, VII, V, I, II, III, IV

B. I, II, IV, III, V, VII, VI D. I, III, IV, II, V, VII, VI

25. It is not enough to run nascent products by friends and family. Instead, vet early-stage plans and prototypes with
potential customers (in other words, strangers). The idea is to get people to tell you whether the product meets their
needs and, if not, what might improve it. Which step of effective product development is exemplified in the statement?

A. Solicit feedback C. Price it right

B. Refine your design with simplicity in D. Do not skimp on materials of
mind manufacturing

26. There is the matter of how many colors, styles, sizes and other variations to initially offer. Again, fewer are better. Give
consumers too many options, and you risk overwhelming them. A confused mind will not buy according to an old
adage. What step of product development is shown in the situation?

A. Solicit feedback C. Price it right

B. Refine your design with simplicity in D. Do not skimp on materials of
mind manufacturing

27. Creating products, on a large scale, with features tailored to the needs of individual customers.

A. Production B. Customization C. Mass customization D. Mass production

28. It communicates product contents, uses and warnings.

A. Labeling B. Packaging C. USP D. Value proposition

29. What does USP stand for?

A. Unique selling proposition C. Unique sales proposition

B. Unified selling proposition D. Unique store proposition

30. This is the overall assortment of all product or services offered.

A. Product mix B. Product line C. Brand Extension D. Product Assortment

II. Enumerations. ERASURE MEANS WRONG.

A. Personal Competency: 1-5
B. STEPS in Accounting Cycle-6-13
C. Nine Building Blocks of Business Model-14-22
D. 8 key Elements of Business Model 23-30
E. Seven common Parts of Business Plan 31-37
F. At least three examples of revenue model 38-40
III. From the following given: (5 points each)
Fixed Cost: Php. 350,000
Variable cost per unit: Php. 300
Sale Price per unit: Php. 600
Desired Profit: Php. 300,000

1. Compute the Break even points in unit(Margin of safety)

2. Compute the break even points in Peso
3. Compute the break even points in unit to achieve the Desired Profit

Prepared by: Approved by:

MILTON D. MOSQUITO, LPT RONALD MICHAEL QUIJANO, LPT

Subject Teacher SHS Head Coordinator