NUIS FAIRVIEW

ENTREPRENEURSHIP MIDTERM EXAM

I. Multiple choice questions:

1.An individual who starts, creates and manages a new business

can be called.
A. a leader
B. a manager
C. a business man
D. an entrepreneur

2. Which could provide an individual with the motivation to

start a new business venture.
A. financial reward
B. A desire to be independent
C. Risk taking
D. All of the above

3. Which industrial sector promotes small - scale business and

entrepreneurship and has a lower barrier to market entry ?

A. Service
B. Manufacturing
C. Distribution
D. Agriculture

4. An innovation can best defined as.

A. Generation of new ideas

B. The successful exploitation of new ideas
C. The evolution of a new ideas
D. The opposite of creativity
 5. Entrepreneurship are motivated by

A. Money
B. Personal values
C. Pull influences
D. All of the above

II. Write True if the statement is true and write false if the
statement is false and state the correct answer to make the
statement true.

1. Trademarks relate to Brand identity.

2. One of the reasons why the business failure occurred is poor
financial control.
3. Good sources of information for an entrepreneur about
competitors can be obtained from Maritess information.
4. A person who works for someone else is entrepreneur.
5. Entrepreneurship is the evaluation of strengths and weaknesses.

III. Identification, discuss and enumerate.

1. Entrepreneur vs. Entrepreneurship

2. Innovativeness vs. Risk taker
3. Proprietorship
4. Give 10 Characteristics of Entrepreneur
5. Give 5 known entrepreneur and their contribution

IV. Explain the following:

1. Importance of entrepreneur in the economic development.
2. Important aspect of fulfilling a company’s brand promise.
3. What is the best characteristic of an entrepreneur that you can
apply in real life and how.