Name: ____________________________________________________________Section: ____________Date: _______

Direction: Identify the correct answer and choose from the box on the side. Write it on the space provided.
_____________1. According to_____, entrepreneurship is carrying out new combinations of firm
organization- new products, new services, new sources of raw materials, new methods of production, new Creates employment
markets, and new forms of organization.
___________2. A person who starts an enterprise with a new idea or concepts, undertaking commercial Businessman
activities.
___________3. It is a pursuit of opportunity without regard to resources currently controlled but constrained Entrepreneur
by the founders’ previous choices and industry-related experience. It is according to________.
___________4. Entrepreneurship is conceiving an opportunity to offer new or improved goods and services, Schumpeter (1934)
showing the initiatives to pursue that opportunity, making plans, mobilizing the resources necessary to Persistence
convert the opportunity into reality. It is according to________.
___________5. According to_____, entrepreneurship is a dynamic process of vision, change, and creation Creative
that requires an application of energy and passion towards the creation and implementation of new ideas
and creative solutions. Kurato (2009)
___________6. It is a behavior or trait signify an entrepreneur who always seek for the best product to be Hart, Stevenson,
offered to the market to gain competitive advantage.
and Dial (1995)
___________7. It is an elements of entrepreneurship manifest the creation, development and
implementation of products, process with the aim of improving efficiency and effectiveness. Dyck and Neubert
___________8. Someone who set up a business with an existing idea and offering product and services to (2012)
the customers.
___________9. When entrepreneurs put up their businesses, they will hire or employ individuals who will Innovation
be an asset to the business because of their relevant competencies and personal values aligned to the
needed requirements of the enterprise. Creative
____________10. Entrepreneurs are determined to make their business succeed and will remove any
Goal-oriented
obstacles that stand in their way. They also tend to be strategic in their game plans and have a clear idea
of what they want to achieve and how they plan to do it.
Multiple choice: Read carefully the questions and write your best answer on the space provided.
_____1. Who is the owner of the Jollibee Corporation?
A.Lucio Tan B.Henry Sy C.Tony Tan Caktiong D.Cresida Tueres
_____2. What is the first franchise of Tony Tan Caktiong on the year of 1975?
A.Magnolia Ice Cream B. Ice Cream House C.Selecta D. Nestle Ice Cream
_____3. Edgar Sia is the owner of Mang Inasal and he is also known as ____. The reason of his nickname is because of the nationality
of his parents.
A.Mr. Barbeque B.Injap C.Big John D.Mr. Tan
_____4. The first branch of Mang Inasal in December 2003 at the Robinson Mall Carpark in _____.
A.Zamboanga City B.Manila C.Bulacan D. Iloilo City
_____5. Greenwich was founded in the year of_____. It is a pizza and pasta chain in the Philippines
A.1971 B.1996 C.2005 D.2001
_____6. The name "Greenwich" is in tribute to its founder Cressida Tueres's first customers, which were students from the private
school_____that has green as its school color. What private school inspired Cressida Tueres for the color of her Greenwich logo?
A.Roosevelt College B.Far Eastern University
C. La Salle Green Hills D. Ateneo De Manila
_____7. He is a is a Filipino business magnate, investor, and philanthropist. He presides over the Filipino conglomerate company LT
Group, Inc. Who owns a company with extensive business interests in sports, banking, airline, liquor, tobacco, real estate, beverages,
and education?
A.Lucio Tan B. Henry Sy C. Jose Magsaysay D. Mariano Que
_____8. What is the name of the potato mascot of Potato Corner?
A. Grimace B.Hetty C. Yum D.Spudster
_____9. Maria Socorro Cancio Ramos is a Filipino businesswoman. She is the co-founder of National Book Store, the largest bookstore
chain in the Philippines. She is also known as_____.
A.Aling Nena B.Nanay Coring C.Mrs. Ramos D.Nanay Socorro
_____10. Henry Sy opened his first sole-proprietorship store in Quiapo, Manila in _____. On what year did Henry Sy opened his store?
A.1948 B. 1996 C.1932 D.1965
_____11. Which of the following is called a situation or occasion that makes it possible
to do something that you want to do?
A. Opportunist B. Opportunity C. Optimism D. Opportune
_____12. Which is called the gestation phase of the stages of opportunity recognition?
A. Conception B. Precondition C. Realization D. Assessment
_____13. What do you call the last phase of the stages of opportunity recognition that
suggests the production of a prototype?
A. Conception B. Precondition C. Realization D. Assessment
_____14. Given are the factors in opportunity recognition EXCEPT one.
A. Connections B. Market awareness
C. Entrepreneurial Readiness D. Opportunity
_____15. Which of the following choices is the third stage of opportunity recognition
provides the individual a hunch that can serve as an opportunity for business?
A. Conception B. Visioning C. Realization D. Assessment
_____16. Which is called an exploitable set of circumstances with uncertain outcome requiring a commitment of resources and involving
exposure to risk?
A. Opportunity B. Precondition C. Realization D. Assessment
_____17. What do you call the highest-ranking executive in a company?
A. Advertising sales agent B. Sales Manger
C. Chief executive officer (CEO) D. Chief Operating officer
_____18. What do you call a person that someone who manage accounts and follow-up on lack of a company?
A. Sales Manager B. Business Consultant
C. Advertising Sales Agent D. Project Manager
_____19. Who is called the person responsible for leading a project from its inception to execution?
A. Sales Manager B. Business Consultant
C. Advertising Sales Agent D. Project Manager
_____20. What do you call someone whose job is on recruiting people to an organization?
A. Talent Recruiter B. Project Manager
C. Business Reporter D. Sales Manager
_____21. What do you call a person that someone who inspire students how to increase their entrepreneurial intention?
A. Talent Recruiter B. Teacher C. Business Reporter D. Sales Manager
_____22. What do you call a person who can write articles about business matters?
A. Business Consultant B. Project Manager
C. Business Reporter D. Sales Manager
_____23. Which of the following choices refers to personal exposure to market and its components including customers and suppliers?
A. Market Awareness B. Connections
C. Entrepreneurial Readiness D. Opportunity
_____24. Who is responsible for directing and overseeing all discovery and development projects.?
A. Project Manager B. Sales Manager
C. Business Reporter D. Research and Development Director
_____25. What do you call the one who gather and analyze facts with regards to events that are newsworthy?
A. Project Manager B. Sales Manager
C. Business Reporter D. Research and Development Director
_____26. Which is called a special kind of want and refer to things we must have to survive?
A. Demand B wants C. Needs D. Products
_____27. Which of the choices below requests for specific products that the buyer is willing and able to pay for over a specific period?
A. Demand B. Wants C. Needs D. Products
_____28. Which of the choices refers to consumers will be able to feel worth in comparing and competing with other products?
A. Specialty products B. Shopping Products
C. Convenience Products D. Consumer Products
_____29. What do you call a specific preference for brands?
A. Preference products B. Shopping Products
C. Convenience Products D. Consumer Products
_____30. Which is called the consumer will not spend a lot of time or money in buying those products?
A. Preference products B. Shopping Products
C. Convenience Products D. Consumer Products
_____31. Which of the following choices refers to the total demand of all potential customers for a specific product or service over a
specific period in a specific market area?
A. Market B. Potential Market C. Market Demand D. Target Market
_____32. Which of the choices refers to any good, service, or idea that can be offered to a market to satisfy a want or need?
A. Product B. Experiences C. Services D. Consumer
_____33. Which of these are the products that is intangible because there are no physical items involved?
A. Non- Durables B. Durables C. Services D. Products
_____34. Its enterprise offers to its customers in order to satisfy their needs and produce the expected results.
A. Services B. Intangible Service C. Products D. Tangible
_____35. Which is an act of obtaining desired object from someone by offering something in return?
A. exchanges B. Market Demand C. Relationship D. Tangibles
True or False: Write True if the statement is true, and if the statement is False underlined the false word then write the correct
answer.
_______1. Potential Market is used in a business proponent that is precisely with the target customers, target market and or target
audience.
_______2. Services are the non-physical, intangible parts of our economy, as opposed to goods, which wan touch or handle.
_______3. Preference Products are unique, customized products which have their own niches, and this commands utmost loyalty from
other buyer.
_______4. Services are the tangible goods wherein you will be paid according to your profession, skills, and talents.
_______5. In market there is a capability to purchase a particular product/service that can be variable as it can expand or contact
depending on certain factors.
_______6. Convenience Products are products that consumers feel are worth the time and effort to compare with other competing
products.
_______7. Societal environment refers to the physical environment, societal environment, and industry environment where the business
operates.
_______8. Entrepreneurial heart flame. Entrepreneur's driven passion, 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.
_______9. Substitute is a state or situation in which people or groups are competing with each other. For example, it depends on the
Marketing strategy of your competitor, like giving freebies and special offers.
_______10. Rivalry means anything that takes the place or function of another. For example, the consumers decide to use margarine as
a substitute for butter.