BICOL MERCHANT MARINE COLLEGE INC.

SENIOR HIGH SCHOOL

Rizal Ave., Piot
Sorsogon City 4700

ENTREPRENEURSHIP
Name: Yr./Section: Rating:
EXAMINATION TERM: THIRD QUARTER Track/Strand: Date:

Direction: Read each item carefully, encircle the letter of your choice to have a complete thought
for each statement.

1. ______ means that one of the benefits an entrepreneur gets is to develop his managerial skills.
A. Development of Managerial capabilities C. Improving standard of living
B. Creation of Organizations D. Means of economic development

2. ______ means that entrepreneurship can lift up the economic status of an individual.
A. Development of Managerial capabilities C. Improving standard of living
B. Creation of Organizations D. Means of economic development

3. Entrepreneur was derived from the French verb “enterprendre”, which means “to undertake” or
pinpointing those who ”undertake” the ______.
A. risk of enterprise C. protect the company
B. safeguard the business D. refuge the business in danger

4. Entrepreneurs are innovators, willing to take risks and ______ to make it unique and profitable
solutions to the present-day problems.
A. make use of old strategy C. generate new ideas
B. think of standards D. all of these

5. Entrepreneurship is an ______ because it involves the creation and operation of an enterprise

with a view to creating value or wealth by ensuring optimum utilization of limited resources
A. economic and dynamic activity C. innovative
B. profit potential D. risk bearing

6. ______ with the expertise of the entrepreneur, can be a very good source of advices to other
entrepreneurs and would be business man.
A. Researcher C. Business Consultant
B. Teacher D. Business Reporter

7. ______ the entrepreneur being expert in the field, he can be employed as business reporter.
A. Business Reporter C. Business Consultant
B. Teacher D. Researcher

8. Entrepreneurial ideas arise when changes hiappen in the ______, refers to the physical
environment, societal environment, and industry environment where the business operates.
A. internal environment C. external environment
B. local environment D. international environment

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9. A person with entrepreneurial interest sees possibility of business opportunities in ______, with
new discovery or because of the use of latest technology.
A. technological discovery and advancement C. government’s thrust, programs & policies

B. people’s interest D. past experiences

10. It is the process of considering, evaluating, and pursuing market-based activities that are
believed to be advantageous for the firm.
A. Opportunity screening C. Opportunity seeking
B. Opportunity seizing D. Sources of opportunity

11. ______, an entrepreneur's driven passion, as they are attracted to discover satisfaction in the
act and process of discovery. Passion is the great desire of an entrepreneur to achieve his/her
goals.
A. Entrepreneurial heart flame C. Entrepreneurial gut game
B. Entrepreneurial mind frame D. All of these

12. Political forces include all the laws, rules, and regulations that govern business practices as well
as the ______.
A. Permits and approvals C. both A and B
B. licenses necessary to operate the business D. none of these

13. A person with entrepreneurial interest sees possibility of business opportunities in any new
discovery or because of the use of latest technology; that is for example, an individual with
knowledge in repair and installation of a machine engine can discover that additional engine
parts may considerably ______.
A. reduce fuel consumption C. fix furniture and fixtures
B. Increase profit D. attract buyers

14. Substitute means anything that takes the place or function of another. For example the
consumers decide to use margarine as a substitute for butter. In case the price of butter
increases, preferably the consumer will gradually switch ______.
A. to cheese B. to peanut butter C. to margarine D. to mayonnaise

15. Value Proposition (VP) is a business or marketing statement that summarizes why a consumer
should buy a company's ______.
A. product or use its service. C. financial services
B. Bond and stock D. all of these

16. VP is often used to convince a customer to ______ to add a form of value to their lives.
A. purchase a bond or stock C. purchase a particular product or service
B. purchase financial services D. all of these

17. In creating Value Proposition, entrepreneurs will consider the basic elements: ______.
A. all of these C. name of the product
B. target Customer D. name of the enterprise/company

18. Unique selling proposition (USP) refers to ______ to your customer, wherein you will address the
wants and desires of your customers.
A. how you will buy products and services C. how you sell your product or services
B. how you will deal with products and services D. none of these

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19. Here are some tips for the entrepreneur on how to create an effective unique selling proposition
to the target customers: ______.
A. All of these C. Keep it short and simple (KISS)
B. Very Specific D. Identify and rank the uniqueness of the
Product or services character

20. We learn that USP and VP are frameworks of each business industry. And these two
propositions are valuable for ______.
A. the customers C. the entrepreneurs
B. the supplier D. none of these

21. The Market Research or ______ can be defined as the process of gathering, analyzing and
interpreting the information about the products or the services to be offered for sale to the
potential consumers in the market.
A. Marketing Research Process C. Marketing Planning Process
B. Marketing Collection Process D. None of these

22. There are different ways to collect data for market reseach. The most important methods
that can considered are: ______.
A. surveys C. A, B & D
B. focus group discussion D. interviews.

23. Data gathering or ______ is the most valuable tool of any type of research study.
A. data collection C. data management
B. data recording D. none of these

24. _______ are the most common way to gather primary research with the use of questionnaires
or interview schedule.
A. Focus Group Discussion C. Surveys

B. Interview D. None of these

25. _______ is an excellent method for generating and screening ideas and concepts. It can be a
moderated group interviews and brainstorming sessions that provide information on user’s
needs and behaviors.
A. Focus Group Discussion C. Surveys

B. Interview D. None of these

26. _______ is one of the most reliable and credible ways of getting relevant information from target
customers.
A. Surveys C. Interview
B. Focus Group Discussion D. None of these

27. _______ is a set of controllable and connected variables that a company gather to satisfy
customer better than its competitor.
A. Marketing Mix C. Marketing Collection
B. Marketing Process D. None of these

28. Originally, there were only 4Ps but the model has been continually modified until it became
7P’s.
The original 4 P’s stands for product, place, price and promotion, where eventually, three
elements have been added, namely: _______ .
A. people, production, and packaging C. people, packaging and positioning
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 B. people, packaging, and picketing D. None of these

29. _______ refers to any goods or services that are produced to meet the the consumers’ wants,
tastes and preferences.
A. Product C. Positioning
B. Packaging D. People

30. _______ is a silent hero in the marketing world. It refers to the outside appearance of a
product and how it is presented to the customers.
A. Product C. Packaging
B. Positioning D. People

31. Experts believe that a good brand can result in: _______.
A. all of these C. a better loyalty for its customer
B. a better corporate image D. a more relevant identity

32. Branding is absolutely critical to a business because of the overall impact it makes on your
company. It can change how people percept your brand, it can drive new business and increase
brand awareness.
A. Maybe C. Yes
B. I’m not sure D. None of these

FOR NUMBERS 33 TO 38.

The illustration above shows the factors involved in the input and
the production process usually referred to as the Four M’s of
Production: A. Manpower B. Method C. Machine and D. Materials.
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In the illustration above, a line is provided to label each sketch with the Four M’s of Production:
A. Manpower B. Method C. Machine and D. Materials, and answer the following.

33. _______ discusses about manufacturing equipment used in the production of goods or delivery
of services.
A. Manpower C. Machine
B. Method D. Materials

34. _______ talks about human labor force involved in the manufacture of products. It is measured
as the most serious and main factor of production.
A. Manpower C. Machine
B. Method D. Materials

35. _______ discusses the process or way of transforming raw materials to finished products.
A. Manpower C. Machine
B. Method D. Materials

36. The resources undergo some stages before it is finalized and becomes set for delivery to the
_______.
A. target sellers C. target audience
B. target buyers D. target planners

37. _______ mainly form part of the finished product.

A. Manpower C. Machine
B. Method D. Materials

38. ______ describes the reasons of how an organization creates, delivers, and captures value in
economic, social, cultural or other contexts.
A. Business plan C. Business model
B. Business package D. Business capital

39. The development of business model construction and variation is also called _______ and forms
a part of business plan.
A. business model innovation C. business model positioning
B. business model crafting D. business model packaging

40. Revenue is a result when sales exceed the cost to produce goods or render the services.
A. Maybe C. Yes
B. I’m not sure D. None of these

41. Cost on the other hand simply refers to the amount of money used ______ as well as costs
incured in selling the goods/merchandise.
A. to produce or manufacture goods/merchandise
B. to produce or manufacture goods/equipment
C. to produce or manufacture goods/machine
D. to produce or manufacture goods/facilities

42. Aling Marta sells bibingka in her neighbourhood, every day she can sell 45 pieces of bibingka at
pesos each. How much is her daily revenue if R = (cost per unit) (No. of items)?
A. 1,000.00 C. 800.00
B. 900.00 D. 450.00

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43. ______ is a planning tool that helps entrepreneur copes up with uncertainties in the future
operation of the business.
A. Revenue C. Benchmarking
B. Selling D. Forecasting

44. The selling price of an item or merchandise is computed by adding cost per unit and
__________.
A. Revenue C. Discount
B. Mark Up D. Number of Items

45. Mang Lito sold 5 pairs of slippers. Suppose Mang Lito purchased the 5 pairs of slippers at
30.00 each and pays 120.00 freight. Calculate how much is the cost of goods sold?
A. 220.00 C. 270.00
B. 420.00 D. 200.00

46. ______ is the result when cost to produce goods or render services is greater than the sales.
A. Selling C. Benchmarking
B. Revenue D. Loss

47. Rodrigo is engaged in a buy-and sell business of perfumes. He bought 10 boxes of perfumes.
Each box costs 12,000.00 and contains a dozen of perfume bottles. He is planning to sell one
perfume bottle at P1,500. What is his expected profit on the 10 boxes of perfumes?
A. 50,000.00 C. 70,000.00
B. 60,000.00 D. 80,000.00

48. The operating the profit margin is the excess of gross profit from ______.
A. hauling expenses C. operating expenses.
B. purchasing expenses D. planning expenses

49. The quick ratio measures its ______, the with its most liquid assets and therefore excludes
inventories from its current assets.
A. long-term obligations C. quarterly obligations
B. short-term obigations D. annual oblgations

50. Financial statements are important in a company management as a means of communicating

as well as future expectations.
A. past successes C. daily achievements
B. future successes D. annual achievements

Prepared by: Checked by: NOTED/APPROVED:

FELIZA D. DELLOSA PRIME ROSE J. DESPI FE D. DOMETITA

Subject Teacher Testing Coordinator SHS Coordinator/Principal
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R=(RS/NI)*75+25=100 R=Rating RS=Raw Score NI=Number of Items

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