Long Quiz 001

Week 4
30/30

Submitted by: Mr. Alfie G. Rellon (FB and Messenger) (AMA OED Student) (agrsaudi: username in the site)

1. Mary heard her officemates complaining about how stressful it is to go out of the office when you need to reload your
cellphone wallet. She immediately searched for the mechanics of a loading business and opened her own. Now her
officemates will just send her an email/PM to reload and transfer payment on her bank account.
Select one:
a. You have the resources you need to help the business succeed
b. The timing is right in terms of the market and your resources.
c. The opportunity will work in your location
d. You can provide the product or service at the right price according to the market.

2. Mathis is always on his phone. He has to make himself available for frequent consultation. His business is just
starting and he wants to be hands on with it but he still has a regular job. He may not be in the store physically but he is
there, remotely.
Select one:
a. Harvesting
b. It's a Lonely Road
c. Always On The Clock
d. No Steady Paycheck

3. If you experience a writer's block, stare at your monitor screen for 30 minutes.
Select one:
True
False

4. Cris' parents own several stalls of meat shop and they bring home the unsold items of the day. She knows that she
can start her small business out of them.
Cris took a crash course on culinary and is now ready to open her small eatery.
Select one:
a. The timing is right in terms of the market and your resources.
b. The opportunity will work in your location
c. You have the resources you need to help the business succeed
d. You can provide the product or service at the right price according to the market.

5. In entrepreneurial industry, competition is stiff. Each one has to be innovative to keep up.
Select one:
True
False

6. Martha noticed that the dessert business is in but she does not know how to prepare one. She went online and looked
for a dealer. She arranged for a meet up and taste what is on sale. Martha approved of the taste and becomes a
reseller.
Select one:
a. Don't hesitate, ASK
b. Open your eyes and be observant
c. Know yourself and your limits
d. Get out and meet new people

7. Yeye's boyfriend, Pat works as a gym instructor and she prepares Keto lunch for him every day. Pat always bring
extra and introduce them to his students. More and more people in the gym are ordering food from Yeye. She now sells
Keto food online..
Select one:
a. You have the resources you need to help the business succeed
b. The opportunity will work in your location
c. You can provide the product or service at the right price according to the market.
d. The product or service will meet a need
8. Mr. Reyes and his team had a long meeting. They have reviewed the venture and compares actual growth against
the planned growth. They have established 55% stability.
Select one:
a. It's a Lonely Road
b. No Steady Paycheck
c. Always On The Clock
d. Harvesting

9. The business plan should bear the mission and vision of the organization.
Select one:
True
False

10. In one of her trips abroad, Kurt has come across a thrift shop and was able to pick a bunch of interesting items for
his shop. It may take a little time to polish them but he knows that he can gain big profit from them even if he sells them
on a conservative price.
Select one:
a. The opportunity will work in your location
b. The timing is right in terms of the market and your resources.
c. You have the resources you need to help the business succeed
d. You can provide the product or service at the right price according to the market.

11. Maine got inspired by the many success stories she heard about investment. She wants to invest on stocks and
money market. She wants to learn the ropes so she attended a seminar and participated actively.
Select one:
a. Get out and meet new people
b. Open your eyes and be observant
c. Know yourself and your limits
d. Don't hesitate, ASK

12. Claire went to Ilocos to get the cloth that her client has specifically requested to be used for her bridal gown.
Select one:
a. Resourcing
b. Business Plan
c. Managing the company
d. Discovery

13. In order to succeed, an entrepreneur must be 100% engaged in the venture he has chosen.
Select one:
True
False

14. When Victor decided to open his own business, he knows that he will be sacrificing a lot, most especially his social
life.
Select one:
a. Always On The Clock
b. Harvesting
c. No Steady Paycheck
d. It's a Lonely Road

15. Redlocks Cakes has a special treat to their customers on their 75th Anniversary. They will launch the combo cake. It
is a combination of four flavors in a single cake. You can taste mocha, chocolate , chiffon and carrot cake in a price of
one.
Select one:
a. Peter Drucker
b. Practice of Innovation
c. Theory of the Entrepreneur
d. Competition and Entrepreneurship
16. The government doesn't care if an entrepreneur succeed in his startup or not, it does not affect economy anyway.
Select one:
True
False

17. The manager discussed with the board the evaluation criteria to see if the organization is moving towards its set
goals.
Select one:
a. Resourcing
b. Managing the company
c. Discovery
d. Business Plan

18. Nemie joined the Facebook buy and sell group. He has uploaded the photos of the items that he is selling. He is
happy with the overwhelming response of the public. He sold more items online that what he sold in his store.
Select one:
a. Know yourself and your limits
b. Get out and meet new people
c. Don't hesitate, ASK
d. Open your eyes and be observant

19. Martin cannot afford to get more workers in his store. Business is just starting and has not picked up yet. He knows
that it will take a while before he can hire a helper. In the meantime he will work alone.
Select one:
a. Always On The Clock
b. It's a Lonely Road
c. No Steady Paycheck
d. Harvesting

20. To get a killer innovation, you have to set a timetable to force your team to think fast.
Select one:
True
False

21. Cristy is bothered with the noticeable decrease in sales of her Belle beau Salon. This is the effect of a number of
salons that opened near her business location. She has come up with a promotional offer to win back her customers.
Select one:
a. Peter Drucker
b. Competition and Entrepreneurship
c. Practice of Innovation
d. Theory of the Entrepreneur

22. Chef Kloe has a new set of dishes. She plans to incorporate them in their Valentine Menu. Her team has
conceptualized a Valentine Promo and the winning couple gets to taste her love potion for free.
Select one:
a. The product or service will meet a need
b. The timing is right in terms of the market and your resources.
c. The opportunity will work in your location
d. You have the resources you need to help the business succeed

23. Felamae and her team are having a brainstorming for the new venture. She is not absorbing what is being
discussed; they are all jargons to her. She spent the whole time doodling instead. By the time the meeting is adjourned
she too is done with her drawing. Everyone liked her drawing, they voted to use it as their store logo.
Select one:
a. Go Visual
b. Travel
c. All of the above
d. Get up and get moving
24. Aiden has an important meeting with his clients at 2:30 PM. Its already 2PM and he is just 10 km away from the
venue. If he turns left he takes the shortest route but he have to pass by EDSA. He decided to turn right, it may be a
longer route but he knows that the road is clear and without traffic.
Select one:
a. Joseph Alois Schumpeter
b. Frank Knight
c. Harvey Lebenstein
d. Risk Uncertainty and Profit

25. Fred has a small store in front of the community school. He is updated with all the school activities and he makes
sure that he has items that he can sell whatever is needed for the occasion.
Select one:
a. Open your eyes and be observant
b. Know yourself and your limits
c. Get out and meet new people
d. Don't hesitate, ASK

26. In most cases, you run out of words to express your ideas, you may draw them down instead.
Select one:
True
False

27. You just need to come up with the next big thing idea and your success will be guaranteed.
Select one:
True
False

28. At the beginning of a startup, there may be no steady paycheck yet.

Select one:
True
False

29. The new hires are introduced to the managers and supervisors where they need to report to. They have been
advised to follow the correct channel in addressing any issues.
Select one:
a. Business Plan
b. Managing the company
c. Resourcing
d. Discovery

30. Ideation mode can be skipped. It is not that important.

Select one:
True
False