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1) In the entrepreneurial world, new ideas and opportunities are evolving. What is the ability to create
new things, invest in new enterprises and expand business?
a. Creativity
b. Entrepreneurship
c. Manufacturing
d. Producing
2) Alvin has transferred to a new locality. He observed that there is an opportunity for him to put up his
own business since he has enough capital and very much interested to the idea. Which of these factors
must he possess so that he will not rely on the services of the employees?
a. Markets
b. Manpower
c. Supply of resources
d. Knowledge/Skills
3) Management functions and principles play a very critical role in running a business. What principle of
planning specifies that the objectives of an entrepreneur should match the needs of the society?
a. must be realistic
4) Entrepreneurs use various management tools to succeed in a business. What management tool is
used to analyze business opportunities?
a. Environmental scanning
b. Market study
c. Market survey
d. SWOT
b. Marketing study
c. Entrepreneurial scanning
d. Environmental scanning
6) There are P's in preparing market research. Which P in marketing is designed to communicate the
product to customers?
a. Place
b. Price
c. People
d. Promotion
7) The site of the business enterprise is one of the requirements of entrepreneurship. Which of the
following is the most important in choosing the best location for the business?
8) Which term refers to people, institutions or organizations for whom the business is designed?
a. sample
b. population
c. market
d. society
d. what to do
10) What is the benefit of business planning wherein the entrepreneur determines whether the business
is profitable or not?
d. estimate sales
11) What is thinking ahead of objectives, strategies, financing, production, marketing, profit proposal
and growth facilities?
a. forecasting
b. managing
c. planning
d. projecting
12) Business enterprises should operate in a dynamic environment in order to survive. What kind of
environment includes technological, social and ethical/political factors?
a. Macro environment
b. Micro environment
c. Technological environment
d. Social environment
13) Mr. Silva purchased a right to operate an already established business, what type of retail ownership
is it?
a. Corporate
b. Franchise
c. Independent
d. Single-store-ownership
14) Who among the following is the principal actor of the production?
a. Entrepreneur
b. Customer
c. Production manager
d. Worker
15) These are the perishable tangible used in the production process.
a. Financial resources
b. Human resources
c. Information resources
d. Material resources
a. buy-out
b. franchising
c. loan
d. start-up
17) What brief description of the market describes the buyers and users of the product and the area of
dispersion?
a. market analysis
b. market dispersion
c. marketing
d. market study
a. committee type
b. functional type
c. line type
. franchising
c. loan
d. start-up
17) What brief description of the market describes the buyers and users of the product and the area of
dispersion?
a. market analysis
b. market dispersion
c. marketing
d. market study
a. committee type
b. functional type
c. line type
20) What type of product, as designed, produced and marketed by the seller?
a. Licensed brand
b. National brand
d. Trademark
21) Which of the following is the correct definition of the term "entrepreneur"? A person who ________.
a. pursues opportunity without regard to resources
c. seeks to create value for local communities, people or customer 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
a. Technical skills
c. Working skills
24) Which of the following is NOT a source of fund for Mr. Fajardo's future business?
25) 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
26) Which of the following is NOT a characteristic of an entrepreneur?
b. Irritated
c. Opportunity seeker
d. Persistent
a. Opportunity seeker
b. Goal setter
c. Futuristic
d. Impassive
b. Poor location
c. Management mistakes
29) Which of these traits gets an entrepreneur off of his feet and puts him into action, turning daydream
into reality?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
30) Which entrepreneurial trait gives an entrepreneur a positive outlook in life which gives the energy to
pursue his endeavors?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
31) Which trait is an entrepreneur able to withstand the troubles that come with a starting business?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
32) What is the general function of marketing, involves the physical meeting point for buyers and sellers
at the point of production or via some other means of communication?
a. Specific functions
b. Exchange functions
c. Physical functions
d. Facilitating functions
33) Which type of marketing functions, enables the actual flow of commodities through space and time
from producer to consumer and their transformation to a form desirable function to the consumers?
a. Specific functions
b. Exchange functions
c. Physical functions
d. Facilitating functions
34) From a social viewpoint, which of the following statements about marketing objective is NOT true?
35) Which is considered a vehicle for informing target market about the enterprise and the products or
services?
a. Product
b. Price
c. Place
d. Promotion
36) At what stage of marketing effort does an entrepreneur concentrate on targeting a new market of
buyers and taking market share from competitors by price cutting or relaunching the product?
a. Introduction
b. Growth
c. Maturity
d. Decline
d. Distribution channel
38) Which marketing channel operates with capital owned directly by the operators and their partners,
or in some cases by shareholders?
a. Cooperatives
d. Transnational companies
39) At which stage of a product life cycle must an entrepreneur decide whether he wants to try to
rejuvenate the product by investing in development and aggressive marketing or to quietly admit defeat
and exit the market?
a. Introduction
b. Growth
c. Maturity
d. Decline
40) A marketing mix that can have both tangible and intangible aspects and is the thing you offer to
satisfy your customers' wants and needs is ________.
a. Product
b. Packaging
c. Price
d. Promotion
41) Which is considered to be the best way to assess entrepreneurial projects or business ventures?
a. Environmental analysis
b. SWOT analysis
c. Competitor analysis
d. PEST analysis
42) An analysis that provides the details for opportunities and threats of a business to make better
decisions regarding marketing plan is termed ________.
a. Environmental analysis
b. SWOT analysis
c. Competitor analysis
d. PEST analysis
a. Strengths-Weaknesses-Options-Testing
b. Strengths-Weaknesses-Opportunities-Testing
c. Strengths-Weaknesses-Options-Threats
d. Strengths-Weaknesses-Opportunities-Threats
44) Which question is asked at the first stage in the marketing planning process of an enterprise?
c. Are we on course?
d. Where would we like to be?
45) Which of these stages is the final stage in the marketing planning process flow chart?
a. Control
46) An entrepreneur might select a target market probably because the target market ________.
47) A carefully thought structured formal commercial report that is extraordinary well documented and
clearly written to safeguard any wastage of further investment project is called ________.
a. Portfolio
b. Business plan
c. Resume
d. Feasibility study
a. Resume
b. Portfolio
c. Business plan
d. Insurance plan
ANSWERS:
1. B
2. D
3. B
4. D
5. B
6. D
7. A
8. C
9. B
10. C
11. C
12. A
13. B
14. C
15. D
16. D
17. D
18. C
19. A
20. C
21. C
22. C
23. B
24. A
25. A
26. B
27. D
28. B
29. B
30. D
31. A
32. B
33. C
34. D
35. C
36. C
37. C
38. B
39. D
40. A
41. B
42. D
43. D
44. A
45. A
46. A
47. D
48. C