Entrepreneurship

First Quarter Examination

NAME: ____________________________________________________________________ SCORE: ___________

I. MULTIPLE CHOICE:

Directions. Read each item very carefully. Encircle the letters that corresponds to the correct answer.

1. What is an entrepreneur? 7. The owner receives all of the profits of the business
a. Someone who invests time and money to start a and can act quickly in making business decisions when
business. the form of business ownership is a
b. Someone who makes a lot of money.
c. Someone who takes a risk to make a profit. a. corporation.
d. Both A & C. b. partnership.
c. joint venture.
d. sole proprietorship.
2. . The following are included in a business plan
a. Financial information, production plans, 8. Cost per serving means:
personnel policies. a. How much it will cost to produce one
b. Goals of the business and how they will be recipe
achieved. b. How much it will cost to produce what
c. A step by step plan for the success of your you sell in one day.
business. c. How much it will cost to make “One.”
d. All of the above. d. How much it will cost to make one
batch.
3. A market survey is important because it tells you:
a. How many & what types of people are shopping 9. What makes a good advertisement? (Choose the best
at a store. combination)
b. Tells you what the customer will buy. a. Color, Attracts attention, ingredients in
c. Tells you how much the customer will pay for the product.
product. b. Name of product, price, location,
d. All of the above. attractive.
c. Easy to read, price, color, location, why
4.. Making a purchase you had not planned is called: customers should buy it.
a. Consumer shopping. d. Nutritional information, price, color,
b. A warranty. where to buy it, easy to read.
c. Impulse buying.
d. Comparison shopping. 10. What things could you change to adjust your profit?
a. Price.
b. Number.
5. A business that fails to protect its employees from c. Less expensive supply sources.
unnecessary risk or health hazards on the job may be d. All of the above.
sued for
11. When counting change back to a customer, you
a. libel. should always give the ____________
b. misrepresentation. amount of coins possible.
c. negligence. a. best
d. incompetence. b. least
c. most
2. What requirement of a legally enforceable contract d. correct
requires that both of the parties who are entering into the e.
contract are sane, sober, and of legal age? 12. Which of the following is a condition that must exist
a. Genuineness of assent for channels to be effective:
b. Consideration a. Channel members must not share tasks.
c. Capacity b. They must have at least five members.
d. Legality of purpose c. Channel members must have varying
goals.
d. They must be properly managed.
13. Which of the following is a marketing function that 20. Businesspeople who respect the unique customs
can be performed by channel intermediaries: and habits of their foreign customers are exhibiting
a. Promoting products a. communication skills.
b. Monitoring union activities b. stereotypical behavior.
c. Training employees c. cultural sensitivity.
d. Recruiting workers d. language differences.

14. A manufacturer of dishwashing soap has just 21. “Yes, you'll save money instantly” is an example of a
invented a new type of soap that cleans better. The statement with
manufacturer should choose to distribute the soap a. threatening language.
through __________ distribution. a. an impersonal message.
a. intensive b. persuasive words.
b. exclusive c. body language.
c. inclusive
d. selective 22. Ellen wants to step back from the day-to-day
activities of running her company. She decides to take
15. What type of information does a well-written proposal the company to another level by selling public stock.
include? One way Ellen can stay involved in the company is by
a. Vague goals a. arranging a tactical acquisition.
b. Specific benefits b. appointing a family member as
c. Previous trends president.
d. Contingency data c. serving on the board of directors.
d. hiring her successor.
16. There are several auto repair shops in town, but
Patricia's stands out. Her auto repair shop does great 23. Which of the following categories of information are
work, but what really sets her shop apart is the customer found on a balance sheet:
service. Every customer is greeted by a friendly a. Income, expenditures, profit
employee, and s/he is given snacks and drinks while b. Assets, liabilities, owner's equity
s/he waits for the repairs to be completed. The great c. Assets, liabilities, margin
customer service that people can expect from Patricia's d. Revenues, expenses, profit
business is considered her
a. vision. 24. Which of the following statements is true regarding
a. B. tagline. stakeholder expectations:
b. C. brand promise. a. Each group of stakeholders has different
c. D. mission statement. needs and expectations.
b. Stakeholder expectations are always
17. Financial loss from investing time and money to financially driven.
comply with accounting standards is an example of c. All stakeholders want to exert authority
which strategic risk: over employees.
a. Changing customer needs d. Stakeholder expectations always come
b. Reputation damage second to customer needs.
c. Regulatory and political issues
d. Obsolescence 25. Julio is starting a new business, and he has formed
relationships with several successful local business
18. The government's mandating the use of unleaded owners. Which of the following is the best way to
gas in new cars is an example of leverage these relationships to help his own business
a. protecting specific businesses. succeed:
b. protecting the environment. a. Gaining inside marketing information
c. stabilizing the economy. b. Persistently asking those business
d. providing public goods. owners to invest in his company
c. Attending trade shows and conferences
19. What type of business usually experiences to make new connections
economies of scale due to expanded operations? d. Sharing those businesses' content on
a. Large manufacturing plant social media
b. Monopoly
c. Individual financial planner
d. Small local retailer

II. Classify what types of environment influence the following customer choices. Write your answer on the space
provided.

PERSONAL SOCIAL ENVIRONMENT ECONOMIC PSYCHOLOGICAL

1. Values - what is personally important in life _________

2. Celebrations – extra money spent on special occasions; treats _________
3. To bribe, encourage or reward someone _________
4. Trends – things which are fashionable _________
5. Friends - likes and dislikes may be passed on; wanting to have the same _________
6. CFC-free products (e.g. buying appliances and aerosols (sprays) which are ozone-friendly). _________
7. Energy efficient products (e.g. light bulbs, appliances) _________
8. Water-saving products (e.g. certain dishwashers and automatic washing machines) _________
 9. Time available - time to shop around, time to do household chores and/or cook, time to travel _________
10. Gender – norms for products and services; what is considered feminine/masculine _________
11. Value for money _________
12. Special offers _________
13. Advertisements – Use different strategies to motivate consumers to buy _________
14. Age – different age groups have different interests, therefore different wants _________
15. Knowledge – the background information one has about the product or service _________

IV. WRITING

1. A contractor of a fast food giant failed to deliver the expected output of an inventory system upgrade. This
resulted in more than 70 branches due to inventory problems. It compromised the sales of the month. What do
you think were the potential opportunities opened up to other players in the fast food industry?

2. Conceptualize and design your own product. Below the box give a brief discussion on how will you going to
advertise or sell your product, try to build a prototype of your product.

PREPARED BY:
AGNES R. RAMO
Subject Teacher

CHECKED BY:
ETHEL P. FABIA
SHS Focal Person

NOTED:
JUPITER L. PETILLA, Ed.D.
Principal IV