TANGOS NATIONAL HIGH SCHOOL

ABM SENIOR HIGH SCHOOL

Final Exam for Entrepreneurship
Name: ____________________________________ Yr and Section: __________ Score: _________

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 c. Manufacturing
b. Entrepreneurship 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 c. Supply of resources
b. Manpower 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 c. must focus on dealing with a crisis
b. must be based on felt needs d. must start with a simple project

4) Entrepreneurs use various management tools to succeed in a business. What management tool is used to
analyze business opportunities?
a. Environmental scanning c. Market survey
b. Market study d. SWOT

5) When an entrepreneur communicates with people through interviews, observations and advertisement on
what is new, what entrepreneurial activity does he/she engage?
a. Statistical study c. Entrepreneurial scanning
b. Marketing study 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 c. People
b. Price 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?
a. access to supplies and raw materials c. less competitors in the area
b. clean, decent and peaceful environment d. enough capital to pay space rental

8) Which term refers to people, institutions or organizations for whom the business is designed?
a. sample c. market
b. population d. society

9) Which one is not included in planning a business?

a. how and when to do it c. what to expect in the future
b. how to increase profits d. what to do

10) What is the benefit of business planning wherein the entrepreneur determines whether the business is
profitable or not?
a. minimize cost production c. eliminate business risk
b. detect the weakness of the business d. estimate sales

11) What is thinking ahead of objectives, strategies, financing, production, marketing, profit proposal and
growth facilities?
a. forecasting c. planning
b. managing 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 c. Technological environment
 TANGOS NATIONAL HIGH SCHOOL
ABM SENIOR HIGH SCHOOL
Final Exam for Entrepreneurship
b. Micro 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 c. Independent
b. Franchise d. Single-store-ownership

14) Who among the following is the principal actor of the production?
a. Entrepreneur c. Production manager
b. Customer d. Worker

15) These are the perishable tangible used in the production process.
a. Financial resources c. Information resources
b. Human resources d. Material resources

16) Which method of establishing a business starts from scratch?

a. buy-out c. loan
b. franchising 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 c. marketing
b. market dispersion d. market study

18) It is a type of organization wherein a superior delegates authority to a subordinate.

a. committee type c. line type
b. functional type d. line and staff type

19) Which is one disadvantage of a functional type of organization?

a. Morale is likely to be low when discipline is weak.
b. Each manager is supreme in his own field.
c. It is difficult to secure executives and superiors with an all around knowledge.
d. There is greater flexibility.
20) What type of product, as designed, produced and marketed by the seller?
a. Licensed brand c. Private label 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
b. starts a new business with the aim of making a profit
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

22) Which of the following skills are NOT needed by an entrepreneur?

a. Technical skills c. Working skills
b. Personal entrepreneurial skills d. Business management skills

23) Which of the following statement is INAPPROPRIATE in starting a business?

a. Study the concepts and principles of entrepreneurial skills.
b. Cope with failures of the business.
c. Undergo training on entrepreneurial skills.
d. Know what characteristics are needed to become an entrepreneur.

24) Which of the following is NOT a source of fund for Mr. Fajardo's future business?
a. Seek assistance from Central Bank of the Philippines.
b. Borrow money from friends and relatives.
c. Avail of the government program on financing micro-macro business.
d. Use part of her retirement benefit.
 TANGOS NATIONAL HIGH SCHOOL
ABM SENIOR HIGH SCHOOL
Final Exam for Entrepreneurship

25) If her business idea is a boutique, what quality of a future entrepreneur is INAPPROPRIATE?
a. Relaxed c. Risk taker
b. Hard worker d. Innovative

26) Which of the following is NOT a characteristic of an entrepreneur?

a. Coping with failure c. Opportunity seeker
b. Irritated d. Persistent

27) Which among these characteristics of an entrepreneur is UNDESIRABLE?

a. Opportunity seeker c. Futuristic
b. Goal setter d. Impassive

28) Which of the following is a primary cause of failure in small business?

a. Poor financial control c. Management mistakes
b. Poor location d. Improper inventory control

29) Which of these traits gets an entrepreneur off of his feet and puts him into action, turning daydream into
reality?
a. Perseverance c. Creativity
b. Ambition d. Enthusiasm

30) Which entrepreneurial trait gives an entrepreneur a positive outlook in life which gives the energy to
pursue his endeavors?
a. Perseverance c. Creativity
b. Ambition d. Enthusiasm

31) Which trait is an entrepreneur able to withstand the troubles that come with a starting business?
a. Perseverance c. Creativity
b. Ambition 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 c. Physical functions
b. Exchange 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 c. Physical functions
b. Exchange functions d. Facilitating functions

34) From a social viewpoint, which of the following statements about marketing objective is NOT true?
a. Assist in the efficient allocation of resources.
b. Create wealth and promote economic growth.
c. Improve income distribution among different sectors of the economy.
d. Maintain instability of supply and demand for marketed goods.

35) Which is considered a vehicle for informing target market about the enterprise and the products or
services?
a. Product c. Place
b. Price 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 c. Maturity
b. Growth d. Decline

37) Which of the following is NOT appropriate in running a small-scale business?

a. Keeping clear records c. Managing cash flow
 TANGOS NATIONAL HIGH SCHOOL
ABM SENIOR HIGH SCHOOL
Final Exam for Entrepreneurship
b. Verifying profit and loss 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 c. Marketing boards and other state enterprises
b. Independent, locally based private enterprise 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 c. Maturity
b. Growth 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 c. Price
b. Packaging d. Promotion

41) Which is considered to be the best way to assess entrepreneurial projects or business ventures?
a. Environmental analysis c. Competitor analysis
b. SWOT 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 c. Competitor analysis
b. SWOT analysis d. PEST analysis

43) The acronym SWOT stands for:

a. Strengths-Weaknesses-Options-Testing c. Strengths-Weaknesses-Options-Threats
b. Strengths-Weaknesses-Opportunities-Testing d. Strengths-Weaknesses-Opportunities-Threats

44) Which question is asked at the first stage in the marketing planning process of an enterprise?
a. Where are we now? c. Are we on course?
b. Where are we heading? 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 c. Setting marketing objectives
b. Marketing planning mix d. Setting the product price

46) An entrepreneur might select a target market probably because the target market ________.
a. is attractive to the business and matches its supply capabilities
b. is large and well-served with existing products
c. is fully understood by the entrepreneur
d. has a proven track record for buying product

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 c. Resume
b. Business plan d. Feasibility study

48) Which is considered as a comprehensive and effective blueprint to guide an entrepreneur in a business
venture?
a. Resume c. Business plan
b. Portfolio d. Insurance plan

49) What is the process by which individuals pursue opportunities without regard to resources they currently
control?
a. Startup management b. Entrepreneurship
c. Financial analysis d. Feasibility planning
 TANGOS NATIONAL HIGH SCHOOL
ABM SENIOR HIGH SCHOOL
Final Exam for Entrepreneurship
50) Having less than 50 percent of equity share in an international venture is called:
a. Joint Venture b. Majority interest
c. Minority interest d. Exporting