Name: _____________________________________ Score: _______________

A. True or False. Write right if the statement is TRUE and wrong if the statement
is FALSE.

____________1. Entrepreneur means “to undertake.”

____________2. Entrepreneurship can improve the life of the entrepreneur only.
____________3. Scaredy-cat people will become successful entrepreneur.
____________4. Entrepreneurship is not an economic activity.
____________5. Profit potential is the compensation of the entrepreneur.
____________6. An entrepreneur can become a business consultant.
____________7. An entrepreneur can also be a franchisee.
____________8. Entrepreneurship relate to a someone who set up a business with
the aim to make a profit.

B. Multiple choice. Encircle the letter of the correct answer.

9. Which of the following is not a definition of Entrepreneurship?

A. It creates opportunities, ensures social justice, instills confidence and
stimulates the economy.
B. It is an important part of the economic growth strategies of many local
and national governments around the world.
C. An innovator, a source of new ideas, goods, services, and business/ or
procedures.
D. The act of creating a business or businesses while building and scaling it
to generate a profit.
10. Which of the following is a relevance of Entrepreneurship to SHS Students?
A. It generates new wealth in an economy.
B. It aids students from all socioeconomic backgrounds to think outside the
box.
C. It creates opportunities and ensures social justice.
D. It creates job.
11. Which of the following is not an importance of Entrepreneurship?
A. Entrepreneurs create jobs.
B. Entrepreneurs innovate.
C. Entrepreneurs create innovation and social change
D. Entrepreneurs receive from society
12. Which of the following words is not associated with entrepreneur?
A. innovative C. collaborative
B. impulsive D. creative
13. An entrepreneur must have the ability to be the first to see business chances.
A. Communicator C. Opportunity seeker
B. Decisive D. Proactive
14. Which of the statements below is true?
A. Entrepreneur has limited career opportunities.
B. Entrepreneurs are prone to constant high income.
C. Entrepreneurs are contributor to the development of the society.
D. Entrepreneurs are the reasons for unemployment problem.
15. Which of the following statements refers to Entrepreneurship?
A. A person who undertakes the risk of starting a new business venture.
B. It is high-risk, but also can be high reward as it serves to generate
economic wealth, growth, and innovation.
C. Creates a firm, which aggregates capital and labor to produce goods or
services for profit.
D. Creates a business plan, hire labor, acquire resources and financing, and
provide leadership and management for the business.
Name: _____________________________________ Score: _______________

DIRECTIONS: Read and analyze the statements below about “Product or Service”.
Determine whether the statement is TRUE OR FALSE. Write TRUE if the statement
is correct and write FALSE if otherwise. Write your answer in the space provided.

____________1. Products do not carry an element of service.

____________2. A service is the result of the application of skills and expertise
towards an identified need.
____________3. A service isn't something you can try out before you pay for it.
____________4. All products are countable, touchable, and visible, a consumer can
assess its durability by examining it.
____________5. Products are tangible and discernible items that the organization
produces.
____________6. Products and services can both be perishable.
____________7. Service is associated with physical items.
____________8. A product is an offering that derives value from intangible elements.
____________9. A product may be capable of being reused for a certain time.
____________10. Service has no connection with the sale of products.
Name: _____________________________________ Score: _______________

A. True or False. Write tik if the statement is true and tok if the statement is false.

__________1. Entrepreneur enters a business because of its profitability.

__________2. Not all changes in the external environment provide business
opportunities.
__________3. Entrepreneurial process starts with identification of entrepreneurial
opportunities.
__________4. New business ideas provide business opportunities.
__________5. The variables in the physical environment include the economic forces.
__________6. Interest and hobbies of the people are possible good source of
entrepreneurial ideas.
__________7. Discovery and advancement in the use of technology are additional
good source of business opportunities.
__________8. Entrepreneurial heart flame refers to the ability of the entrepreneur to
sense without using the five senses.
__________9. Entrepreneurial mind frame permits the entrepreneur to see things in a
very positive and optimistic light.
__________10. Entrepreneurs need not observe and evaluate the priorities of the
government.
__________11. Entrepreneurial heart frame is one of the essentials of entrepreneur’s
opportunity seeking that refers to the driven passion of an individual.
__________12. Buyers are the one that pays cash in exchange to your goods and
services.
__________13. People’s interest is a good sources of entrepreneurial opportunities
that determine the interest, hobbies and preferences of people.
__________14. Opening of entrepreneurial venture is the result of identifying
entrepreneurial opportunities.
__________15. Technology discovery and advancement consider the new discovery
and advancement of technology as source of opportunity.
Name: _____________________________________ Score: _______________
Directions: Write True if the statement is correct, otherwise write False if the
statement is incorrect on the space provided.
______1. Output represents the final products from the production process and
distributed to the customers.
______2. The 4M’s in the production operation are the materials, manpower,
machine and money.
______3. Manpower in production operation refers to the process of transforming
raw materials by workers involved in the production of goods.
______4. Product description is the marketing copy that explains what a product is
and it’s benefits.
______5. Prototype is a replica of a product.
______6. Free tasting of the product or service is similar to a sample of the product
or service given to the consumer free of cost.
______7. Educational qualifications and experience are criteria in considering
manpower.
______8. Skills and expertise are not important in considering manpower.
______9. Benefits are the reasons why customers will decide to buy the products.
______10. Machine refers to the manufacturing equipment.
______11. Value chains help increase a business's effectively and efficiency so the
business can deliver the most value for the least possible cost.
______12. Effective supply chain management results in lower costs and a faster
production cycle.
______13. Entrepreneurs need suppliers as much as they need their customers to
be satisfied.
______14. In selecting the type of equipment to purchase, the entrepreneur may
consider cost and capacity of the equipment.
______15. Determining key business partners is one of the important phases in
developing a business model canvass.