Republic of the Philippines

Eastern Visayas State University Tanauan Campus

Tanauan, Leyte

Test I.TRUE or FALSE

Direction: Write the word TRUE if the statement is correct and if not, underline the word that
makes the statement wrong and write the correct answer on the space provided.

1. Professor Robert Nelson defines entrepreneur as “a person who is able to look at the
environment, identify opportunities to improve the environment, marshal resources, and
implement action to maximize those opportunities”.

2. In his essay entitled Change and Entrepreneur, Jeffry Timmons described

entrepreneurship as doing things that are not generally done in the ordinary course business
routine.

3. Entrepreneurs blend creativity, innovation and risk taking with hard work to form and
nurture new ventures.

4. Former Education Secretary Alex Gonzales said that college education “is not a right
of every citizen” as he suggested that higher education was better left to students who have
aptitude and talent for it.

5. The national economy is composed of business, enterprises, household, and the

government.

6. Entrepreneurship improves quality of life.

7. Ricardian Theory is the theory of David Ricardo focusing on agriculture playing the
major role in economic development.

8. Entrepreneurship brings cultural benefits through the government.

9. Self-motivated is the characteristic of an entrepreneur that gets him going and keeps
him moving when he is in business.

10. Lack of business experience is a primary reason why some businesses fall within a
few years of start-up.

11. Courage or the willingness to take risks is a valuable trait when striving for success.

12. Entrepreneur is an individual who owns and manages his own business, and is
engaged in selling.
 13. To be innovative is to generate ideas and images in your head in your head in order
to come up with solutions and alternative solutions to problem.

14. When you are unable to keep your promise, apologize sincerely to your customers.

15. Trust is the roof of good entrepreneur-customer and entrepreneur-supplier

relationship.

Test II. Multiple Choice

Direction: Choose the letter corresponding to the correct answer for each of the question
provided below. Write your answer on the space provided.

1. Who described entrepreneurship as doing things that are not generally done in
ordinary course of business routine?

a. Lloyd Shefsky b. Karl Vesper

c. Albert Shapero d. Joseph Schumpeter

2. The entry of the entrepreneur into the world of business means tax sources for the
government. What socio-economic benefits from entrepreneurship is this?

a. Provides taxes to the economy b. Mobilizes capital

c. Improves quality of life d. Empower individuals

3. This is one of the characteristic of an entrepreneur that gets him going and keeps him
moving when he is in business.

a. courage b. confidence

c. self-motivated d. self-awareness

4. This is the primary reason why some businesses fall within a few years of start-up.

a. decisiveness b. innovative

c. lack of business experience d. uncompassionate

5. The following are ways to develop self-confidence except one.

a. Know as much about yourself as you can

b. Know what to do when you cannot keep a promise

c. Look at your qualities in a realistic manner

 d. Take care of yourself physically so that you look good to yourself and to others.

6. Who described entrepreneurship as the “ability to create and build a vision from
practically nothing”.

a. Jeffry Timmons b. Joseph Schumpeter

c. Karl Vesper d. Albert Shapero

7. The national economy is composed of what?

a. business, career, household and the government

b. business, career, enterprises and the household

c. business, enterprises, household and the government

d. business, career, enterprises and the government

8. This is the theory of David Ricardo focusing on the agriculture playing major role in
the economic development.

a. Keynesian Theory b. Kaldor Theory

c. Laissez-Faire Theory d. Ricardian Theory

9. This is developed by Joseph Schumpeter that stresses the role of innovators or

entrepreneurs in economic development. What development and growth theory is this?

a. Keynesian Theory b. Innovation Theory

c. Kaldor Theory d. Ricardian Theory

10. The following are the guidelines that may help in building your commitment to work
except one.

a. Apologize sincerely b. Know as much about your qualities as you can

c. Clarify expectations d. Only make promises you can keep

11. In economic development, what are the main determinants of economic growth?

a. knowledge, skills, values and the quality of people

b. knowledge, skills, values and the quality of life

c. knowledge, skills, values and the free choice of investments

d. knowledge, skills, values and the free competitions

 12. What theory explains that the government should play the key role in the economic
development?

a. Laissez-faire Theory b. Keynesian Theory

c. Kaldor Theory d. Innovation Theory

13. Every person that goes into entrepreneurship or puts up his own business means
releasing or mobilizing capital should fire up the economy. What socio-economic benefit is this?

a. Provides taxes to the economy b. Mobilizes capital

c. Improves quality of life d. Empower individuals

14. The entrepreneur’s penchant for innovation and development of new product, as
well as creation of new markets, redounds to the betterment of the products and services – and
hence the quality of life. What socio-economic benefit is this?

a. Provides taxes to the economy b. Mobilizes capital

c. Improves quality of life d. Empower individuals

15. Which of the following does not belong to the attributes, qualities and characteristics
of an entrepreneur?

a. Demand for efficiency and quality b. Systematic planning and monitoring

c. Persuasion and networking d. Have strength of character

16. What attributes, qualities and characteristics of an entrepreneur also known as

drive?

a. self-motivated b. self-awareness

c. confidence d. courage

17. What is the third behavior or guideline that may help in building your commitment to
work contact?

a. apologize sincerely b. know what to do when you cannot keep a promise

c. cultivate the trust of others d. clarify expectations

18. This is to generate ideas and images in your head in order to come up with the
solutions and alternative solutions to problem.

a. Believe in yourself b. Be creative

c. Take moderate risks d. Be committed to what set out to do

 19. When you are unable to keep your promise, apologize sincerely to your customers.
What guidelines or behavior is this that helps lead to strong commitment to work contact?

a. clarify expectations b. cultivate the trust of others

c. apologize sincerely d. have strength of character

20. What attributes, qualities or characteristics of an entrepreneur that sets high but
realistic standards of excellence for himself, and finds it difficult to compromise on those
standards?

a. persuasion and networking b. risk-taking

c. innovative d. demand for efficiency and quality

Test III. Enumeration

Direction: Enumerate the following

1-5 Contributions of entrepreneurship

6-11 Guidelines that may help in building your commitment to work

12-15 List at least 4 attributes, qualities and characteristics of an entrepreneur

“Don’t Stress. Do your Best. Forget the Rest. “ 😊

 Answer Key

Test I. Test II. Test III.

1. TRUE 1. d 1. Development of new markets

2. Joseph Schumpeter 2. a 2. Discovery of new sources of materials

3. TRUE 3. c 3. Mobilization of capital sources

4. Andrew Gonzales 4. c 4.Introduction of new technologies

5. TRUE 5. b 5. Creation of employment

6. TRUE 6. a 6. Have strength of character

7. TRUE 7. c 7. Only make promises you can keep

8. social benefits 8. d 8. Know what to do when you cannot keep a promise

9. TRUE 9. b 9. Cultivate the trust of others

10. TRUE 10. b 10. Clarify expectations

11. TRUE 11. a 11. Apologize sincerely

12. TRUE 12. b 12-15. Self-awareness, self-motivated, courage,

13. creative 13. b confidence, positive thinkers, patience,

14. TRUE 14. c decisiveness, experience, knowledge,

15. TRUE 15. d information-seeking, perseverance, drive,

16. a risk-taking, innovative, opportunity-seeking,

17. b demand for efficiency and quality,

18. b systematic planning and monitoring,

19. c persuasion and networking

20. d