PRE TEST QUESTIONS

Entrepreneurship

1. Which of the following is the correct definition of a term “entrepreneur”?

A person who _______.

a. pursues opportunity without regard to resources.

b. starts a new business with the aim of making profit

c. seeks to create value for local communities, people or customers by starting a new venture which
exploit new products, processes or markets.

d. seeks to generate value through creation or expansion of economic activity, by identifying and
exploiting new products, processes or markets.

2.Which of the following skills are NOT needed by an entrepreneur?

a. technical skills

b. Personal entrepreneurial skills

c. Working skills

d. Business management skills

3. Which of the following is INAPPROPRIATE in starting a business?

a. study the concepts and principles of entrepreneurial skills

b. cope with failures of the business

c. undergo training on entrepreneurial skills

d. know what characteristics are needed to become an entrepreneur

4. Which of the following is NOT a source of fund for Ms. Burgos future business?

a. seek assistance from central bank of the Philippines

b. borrow money from friends and relatives

c. avail of the government program on financing micro-macro business

d. use part of her retirement benefit

5. If her business idea is a boutique, what quality of a future entrepreneur is INAPPROPRIATE?

a. relaxed

b. hard worker

c. risk-taker

d. innovative

6. Which of the following is NOT a characteristic of an entrepreneur?

a. coping with failure

b. irritated

c. opportunity seeker

d. persistent

7. Which among these characteristics of an entrepreneur?

a. Coping with failure

b. Goal setter

c. Futuristic

d. Impassive

8. Which of the following is a primary cause of failure in small businesses?

a. Poor financial control

b. Poor location

c. Management mistakes

d. Improper inventory control

9. Which these traits gets an entrepreneur off of his/ her feet and puts him/ her into action turning
daydreams into reality?

a. Perseverance
b. Ambition

c. Creativity

d. Enthusiasm

10. Which entrepreneurial traits gives an entrepreneur a positive outlook in lide which give the energy
to pursue his/her endeavors?

a. Perseverance

b. Ambition

c. Creativity

d. Enthusiasm

11. With which trait is an entrepreneur able to withstand the troubles that come with a starting
business?

a. Perseverance

b. Ambition

c. Creativity

d. Enthusiasm

12. Which general function or market involves the physical meeting point for buyers and seller at the
point of production or via some other means of communication?

a. Specific functions

b. Exchange functions

c. Physical functions

d. Facilitating functions

13. Which types of marketing functions enables the actual flow of commodities through space and time
producers to consumer and their transformation to desirable to the consumer?

a. Specific functions

b. Exchange functions

c. Physical functions
d. Facilitating functions

14. From a societal view point, which of the following statements about marketing objective is NOT
true?

a. A Assist in the efficient allocation of resources

b. create wealth and promote economic growth

c. improve income distribution among different sector of the economy

d. Maintain instability of supply and demand for marketed goods

15. Which is considered a vehicle for information target market about the enterprise and the products
or services?

a. Product

b. Price

c. Place

d. Promotion

16. At the stage of marketing effort does an entrepreneur concentrate on targeting a new market of
buyer and talking market share from competitions by price cutting or re-launching the product?

a. introduction

b. growth

c. place

d. decline

17. Which of the following is NOT appropriate in running a small-scale business?

a. Keeping clear records

b. Verifying profit and loss

c. Managing cash flow

d. Distribution channel
18. When marketing channel operates with capital owned directly by the operators and their partners.
Or in some cases by shareholders?

a. Co-operatives

b. Independent, locally-based private enterprise

c. Marketing board and other state enterprises

d. Transitional companies

19. At which stage of product life cycle must an entrepreneur whether s/he want to try to rejuvenate
the product by inventing in development and aggressive marketing or to quietly admin and exit the
market?

a. Introduction

b. Growth

c. Place

d. Decline

20. A marketing mix can have both tangible and intangible aspects and is the thing you offer to satisfy
you customer wants and needs is ______.

a. product

b. packaging

c. price

d. promotion

21. An individual who starts, creates and manages a new business can be called

A. A leader

B. A manager

C. A professional

D. An entrepreneur

22. Trademarks relate to

A. Practice and knowledge acquired through experience

B. The protection of proprietary information of commercial value

C. The right to reproduce one’s own original work

D. Brand identity

23. Which could provide an individual with the motivation to start a new business venture?

A. The financial rewards.

B. A desire to be independent.

C. Risk taking

D. All the above.

24. Why are small businesses important to a country's economy?

A. They give an outlet for entrepreneurs.

B. They can provide specialist support to larger companies.

C. They can be innovators of new products.

D. All the above.

25. A business arrangement where one party allows another party to use a business name and sellits
products or services is known as

A. A cooperative.

B. A franchise.

C. An owner-manager business.

D. A limited company.

26. Which of the following is the reason for business failure

A. Lack of market research.

B. Poor financial control.

C. Poor management.

D. All the above.

27. Innovation can best be defined as

A. the generation of new ideas.

B. the evolution of new ideas.

C. the opposite of creativity.

D. the successful exploitation of new ideas.

28.Entrepreneurs are motivated by

A. money.

B. personal values.

C. pull influences.

D. All the above.

29.Which of the following statements is false?

A. Market segmentation is a useful process for small businesses to undertake.

B. Selling is essentially a matching process.

C. A benefit is the value of a product feature to a customer.

D. It is a good idea for small businesses to compete solely on price.

30. The purpose of all good small business strategy is

A. to increase turnover.

B. to increase profitability.

C. to achieve competitive advantage.

D. to achieve stated objectives.

31.As an entrepreneur, he must be aware if his business is good. He must then identify a good business
through?

a. availability of supply, interest in business, capacity and skills

b. pricing of the products and services

c. human – resources oriented

d. profit – oriented

32.Brings about a successful entrepreneurial activity

a. careful planning

b. good luck

c. big capital

d. proper connection

33. It is the profile of an entrepreneur’s intuitions, philosophy, ideals, perception and details of a
planned project

a. Thesis

b. Project proposal

c. Project description

d. Rationale

34.Provides the entrepreneur information on market, sources and consumption of products and services

a. Consultancy assistance

b. Organizational assistance

c. Training assistance

d. Marketing assistance

35.Which of the following is the correct definition of the term “entrepreneur”?

person who _____ .

a. pursues opportunity without regard to resources

b. starts a new business with the aim of making profit

c. seeks to create value for local communities, people or customers by starting new ventures which
exploit new products, processes or markets

d. seeks to generate value through creation or expansion of economic activity, by identifying and
exploiting new products, processes or markets
36.Which of the following skills are NOT needed by an entrepreneur?

a. technical skills

b. Personal entrepreneurial skills

c. Working skills

d. Business management skills

37.Which of the following statement is INAPPROPRIATE in starting a business?

a. study the concepts and principles of entrepreneurial skills

b. Cope with failures of the business

c. Undergo training on entrepreneurial skills

d. know what characteristics are needed to become an entrepreneur

38.Which of the following is NOT a source of fund for Ms. Burgos future business?

a. seek assistance from central bank of the Philippines

b. borrow money from friends and relatives

c. Avail of the government program on financing micro-macro business

d. Use part of her retirement benefit.

39.If her business idea is a boutique, what quality of a future entrepreneur is INAPPROPRAIATE?

a. relaxed

b. hard worker

c. Risk-taker

d. Innovative

40.Which of the following is NOT a characteristic of an entrepreneur?

a. coping with failure

b. Irritated

c. Opportunity Seeker

d. Persistent
41.Which among these characteristics of an entrepreneur?

a. Coping with failure

b. Goal setter

c. Futuristic

d. Impassive

42. Which of the following is a primary cause of failure in small businesses?

a. Poor financial control

b. Poor location

c. Management mistakes

d. Improper inventory control

43.Which these traits get an entrepreneur off of his/her feet and puts him/her into action turning
daydreams into reality?

a. Perseverance

b. Creativity

c. Ambition

d. Enthusiasm

44. Which entrepreneurial traits gives an entrepreneur a positive outlook in life which gives the energy
to pursue his/her endeavors?

a. Perseverance

b. Ambition

c. Creativity

d. Enthusiasm

45. With which trait is an entrepreneur able to withstand the troubles that come with a starting
business?

a. Perseverance
b. Ambition

c. Creativity

d. Enthusiasm

46. Which of the following is an example of a marketing channel?

a. Television Advertisement

b. Social media platform

c. Retail store

d. All of the above

47. What is the role of DTI (Department of Trade and Industry) in entrepreneurship?

a. Providing financial support to entrepreneurs.

b. Offering business advisory and consultation services.

c. Enforcing regulations and ensuring fair trade practices and facilitating access to markets and
promoting trade.

d. All of the above

48. Key components of a marketing strategy are the following, EXCEPT:

a. Market Research

b. Segmentation

c. Targeting

d. Planning

49. Which of the following is not a component of the marketing mix?

a. Product

b. Profit

c. Price

d. Promotion
50. What is the main goal of branding in marketing?

a. To increase sales

b. To build customer loyalty

c. To create brand awareness

d. All of the above

 ANSWER KEY

1. C 41. A,B,C
2. C 42. C
3. B 43. A,C,D
4. A 44. D
5. A 45. A
6. B 46. D
7. D 47. D
8. B 48. D
9. D 49. B
10. B 50. D
11. A
12. B
13. C
14. D
15. C
16. C
17. C
18. B
19. D
20. A
21. D
22. D
23. D
24. D
25. B
26. D
27. D
28. D
29. D
30. D
31. A
32. A
33. C
34. A
35. D
36. C
37. B
38. A
39. A
40. B