First Periodic Exam in Entrepreneurship I

I. MULTIPLE CHOICE. Write the letter of the correct answer.

1. Loving your business will make it easier to get through the start-up phase, and future
obstacles.
a. passion c. competitiveness
b. well-organized d. integrity
2. A true-blue entrepreneur is committed to the work that he has agreed to do.
a. commitment to the work contract c. persistence
b. demand for quality and efficiency d. risk-taking
3. A successful entrepreneur takes calculated, moderate, or reasonable risks when he
perceives the chances for winning to be good.
a. risk-taking c. commitment to the work contract
b. persistence d. demand for quality and efficiency
4. An entrepreneur always thinks not only of what he wants to accomplish day-to-day but
also in one, two, or five years from now.
a. information-seeking c. goal-setting
b. systematic planning and monitoring d. risk-taking
5. A successful entrepreneur always makes it a point to seek information from clients,
suppliers, experts, competitors, contacts, and information networks.
a. information-seeking c. goal-setting
b. systematic planning and monitoring d. persistence
6. An entrepreneur strongly believes in himself and his own abilities.
a. persuasion and networking c. self-confidence
b. risk-taking d. persistence
7. The state of being employed or having a job refers to_____?
a. job creation c. occupation
b. employment d. entrepreneurship
8. It is the ability to get things done even if you don’t feel like it.
a. People- skills c. Integrity
b. Self-discipline d. Passion
9. The ability to convince others to make conscious decision.
a. Sales ability c. integrity
b. Well- organized d. passion
10. Being able to appeal to other people’s emotions.
a. Sales ability c. Integrity
b. Passion d. Competitiveness
11. Keep all your everyday needs at your fingertips.
a. Sales ability c. Integrity
b. Well-Organized d. Competitiveness
12. A good entrepreneur is a persuasive person who readily establishes a network or
personal business contracts around him.
a. persistence c. risk-taking
b. persuasion and networking d. self-confidence
13. Successful entrepreneurs’ personal motto is “I can.”
a. Achievement cluster c. Power cluster
b. Planning cluster d. none of the above
14. Which of the following best describe entrepreneurship?
a. has the capacity for innovation, investment and creation of markets, products
and techniques
b. empowers citizens, generates innovation and changes mindsets
c. creates employment
d. a. b, and c
15. What happens when entrepreneurial activities slow down?
a. unemployment c. increase tax revenues
b. improves quality of life d. even distribution of income
16. Play to win, but never sacrifice your integrity for the sake of a few bucks.
a. Sales ability c. Integrity
b. Passion d. Competitiveness
17. Genuinely like, respect, and appreciate other people.
a. self-discipline c. Passion
b. Integrity d. People-skills
18. “Right is right even if no one is doing it. And wrong is wrong even if everyone is doing it.”
a. integrity c. passion
b. self-discipline d. well-organized
19. The ability to win people over.
a. sales ability c. passion
b. integrity d. people-skills
20. There’s no substitute for hard work when it comes to becoming a successful
entrepreneur.
a. passion c. integrity
b. strong work ethics d. well-organized
21. Which of the following is the index of entrepreneurship?
a. developing a small elite class
b. transforming ideas into economic opportunities
c. searching, identifying and developing raw materials
d. innovating and developing new products and services
22. Which of the following is NOT true about entrepreneurship?
a. Entrepreneurship contribute significantly to the continuous improvement of living
standards
b. Entrepreneurship helps the development of handful of people getting rich through
enterprise
c. Entrepreneurship activities slow down the country’s unemployment rates
d. Entrepreneurship provides an opportunity for making productive use of capital
resources.
23. Self-discipline is important in putting up a business. Which of the statements below
contributes to the success of an entrepreneur?
a. Develop the ability to get things done
b. Dedicate yourself in improving your leadership, skills and abilities
c. Being able to appeal to other people’s emotions in selling your ideas, products or
services
d. Identify a profitable market and then build your business
24. In business, it is survival of the fittest that counts. Which of the statements below best
describes competitiveness?
a. Identify a profitable market and build your business
b. Make an effort to genuinely like, respect and appreciate other people
c. Learn self-discipline with the right information and conscious efforts
d. Play to win, but never sacrifice your integrity for the sake of a few pesos.
25. Which PECs behavioural indicator meets or beats existing standards of excellence to
improve performance?
a. opportunity-seeking c. persuasion and networking
b. demand for quality and efficiency d. commitment to the work contract
26. Which PECs behavioural indicator sees and acts on new business opportunities and
seizes unusual opportunities to acquire financing, equipment, land and work space or
assistance.
a. persistence c. opportunity-seeking and initiative
b. commitment to the work contract d. risk-taking

II. IDENTIFICATION. Identify the following.

27. A diagram that shows the relationships of the position and their corresponding authority,
responsibility, and accountability.
28. Worker has more than one immediate superior or as many as the types of activities
assigned to him.
29. Comparing actual performance with desired performance.
30. Putting your plans into effect.
31. The process of hiring and developing the required personnel to fill in the various
positions in the organization.
32. Clustering activities into departments or job positions.
33. Any activities that a line officer cannot do are delegated to a staff officer to render these
services.
34. Plans that are for a day to a year.
35. Plans that are essentially one shot or non-repetitious.
36. It is like preparing a blueprint of what is to be done, when, how, and by whom it should
be done.
37. Plans that are used repeatedly and cover policies, procedures, and rules.
38. Plans that are from few months to 3 years.
39. Ability to persuade subordinates to follow.
40. The process of encouraging the subordinates to act in a desired manner.

III. TRUE or FALSE. Write T if the statement is True, and F if the statement is
False.
41. Socially, entrepreneurship empowers citizens, generates innovation and changes
mindsets.
42. Entrepreneurship is not an important factor in economic development.
43. Entrepreneurship creates unemployment.
44. Entrepreneurship worsens the quality of life.
45. Entrepreneurship contributes to less equitable distribution of income and therefore
eases social unrest.
46. Transforming ideas into economic opportunities is the index of entrepreneurship.
47. Entrepreneurship is the capacity for innovation, investment, creation and expansion in
new markets, products and techniques.
48. Entrepreneurship brings social benefits through government.
49. Entrepreneurship utilizes resources for national productivity.
50. Economically, entrepreneurship weakens markets.

Relax ka lang. Exam lang to. Mas malaki ang chance mong pumasa dito, kesa
pumasa sa puso ng crush mo! 

Prepared by:
DELVIC C. SARACANLAO
Subject Teacher