Republic of the Philippines

Department of Education
Region IV-A CALABARZON
Division of Cavite
MUNTING ILOG NATIONAL HIGH SCHOOL
S.Y. 2018-2019
2nd Periodic Test in T.L.E.7 – Entrepreneurship

Score: _________ Parent Signature __________________________

(Signature over Printed Name)

Directions: Choose the letter of the correct answer and write in CAPITAL LETTERS only at the space provided
before each numbers. Be honest in taking the examination.
1. A verifiable record that is generally accepted as payment for goods and services once known as barter.
A. Capital C. Money
B. Card D. Salt
2. There are different types of enterprises in a market economy. What is a small-scale, decentralized business
often operated out of a home rather than a in an intended facility?
A. Cottage industry C. Medium Enterprise
B. Large Corporation D. Small Enterprise
3. One who creates a new product to sell and takes on all risks and responsibility?
A. Entrepreneur C. Enterprise
B. Entrepreneurship D. Executive
4. Who are the first entrepreneurs that initiated free trade?
A. Bankers C. Farmers
B. Blade smiths D. On-line seller
5. In order for an enterprise to be profitable, entrepreneurs must possess personal entrepreneurial characteristics.
Which of the following personal entrepreneurial characteristics refers to always thinking of what they really want
to achieve?
A. Achievement oriented C. Self-confident
B. Creative D. Thrifty
6. Which of the following personal entrepreneurial characteristics refers to the ability to take measured or
calculated risks?
A. Hardworking C. Profit-Oriented
B. Persistent D. Risk Taker
7. Which of the following is the best indicator that entrepreneur is successful in managing his business?
A. Credits C. Profit
B. Customers D. Sales
8. Entrepreneurs play vital roles in our economy. One of them is this entrepreneur who is considered as the
richest man and his department store chain is the top employment generator in the Philippines.
A. Henry Sy C. Manny Villar
B. Manny Pacquiao D. Tony Tan Caktiong
9. Which of the following terms that a person must attain in order to live and entrepreneurs could use as business
opportunities?
A. Land C. Needs
B. Money D. Wants
10. What method of financing is available to cottage enterprise owners?
A. Bonds C. Selling shares
B. Personal savings D. Mortgages
11. Who is a person involved in retailing
A. Consumer C. Retailer
B. Investor D. Wholesaler
12. Which retail segment typically offers the greatest variety and quantity of products to their customers
A. Consumer Cooperative C. General Merchandise
B. Department stores D. Specialty stores
13. The government issues a new one hundred peso bill. What is the intrinsic value of the new currency?
A. Nothing C. 100 plus or minus inflation
B. 100 D. Always greater than 100
14. What is the biggest advantage big business has over small business in the global marketplace?
A. They can sell their products cheaper than a small business.
B. They use online technology, whereas a small business does not.
C. They are bigger in size with lower revenues than a small business.
D. They have access to resources not often available to a small business.
15. When an entrepreneur improves and alters products to make it more appealing to target consumers, he/she is
doing__________?
A. Alteration C. Innovation
B. Improvisation D. Invention
16. Becky created a new product for her new business. She launched this product to help improve the existing hair
care products that are currently unavailable in the market. Which of the following Becky is best described?
A. A scientist C. A business partner
B. An inventor D. An entrepreneur
17. Why is multi-tasking a key entrepreneurial skill?
A. Small businesses may start out as one-person operations.
B. Small businesses usually involve delegating tasks to employees.
C. Small businesses usually involve tasks that must be completed immediately.
D. Small businesses usually involve hiring a large staff to get them off the ground.
18. Blessie is a former OFW from Taiwan and wanted to put up a business. She bought a vacant lot near a public
school and decided to have a school supplies store. What did she considered in her decision?
A. Availability of materials C. Skills
B. Market D. Time
19. Sam is an IT staff of an establishment that already shut down. After being laid-off, he decided to have a
computer supplies and repair shop. What did he considered in his decision?
A. Availability of materials C. Skills
B. Market D. Time
20. What is the BEST explanation of the importance of location in retail
A. To have a cheap place to sell products
B. To look good compared to other retailers
C. To help generate traffic and sell merchandise
D. A good location is only necessary for large retail stores
21. Despite of numerous number and of thick competition of sari-sari store in every community, many
entrepreneurs still put up this kind of business. What do you think is the reason?
A. There is sure profit D. There are limited customers in a
B. It is very easy to establish community
C. It requires large amount of capital
22. Cristina owns a small business that sells beauty and hygiene products that she created. She usually goes at
the residence of her prospect buyers to personally introduce her products. Which of the following is her
retailing style?
A. House to house selling C. Selling in public market
B. Selling in permanent location D. Selling in a travelling store
23. Which retail segment typically offers the greatest variety and quantity of products to their customers?
A. Department stores C. Electronic retailer
B. Discount stores D. Specialty stores
24. Mrs. Castro follows the advice of a friend to be flexible especially if she intends to open a retail business. What
characteristic has been demonstrated by Mrs. Castro?
A. Open to feedback C. Reliable
B. Persistent D. Self-confidence
25. Which of the following is the best way to utilize money?
A. PhP 10.00 minted as a ring.
B. $1.00 bill use as wallet decoration
C. PhP 240.00 used to buy meat products
D. Php 5.00 coin dropped in a house foundation in a ground breaking ceremony
26. Emmanuel decided to have his own business. Which of the following should he put up if he wants to have a
cottage enterprise?
A. Call Center agency C. RTW in a department store
B. Ice cream factory D. Sari-sari store
27. How can an enterprise ensure that it will gain profit?
A. Sell quality products at competitive price
B. Use low quality materials to eliminate production costs
C. Produce low quality products to improve customer loyalty
D. Increase the selling price higher than the SRP to exceed its operational expenses
28. Which of the following is best describes consumption of needs of a person?
A. Franz always buys at local hardware store.
B. Louie will only dress up with well-known clothing brand name.
C. Philipp spend his allowance in cellphone load to watch Youtube.
D. Princess is already hungry but she will only eat at her favorite restaurant.
29. In dealing with choosy customer what characteristic an entrepreneur should apply?
A. Futuristic C. Over sensitive
B. Hardworking D. Patience
30. How does a company become socially engaged?
A. Accommodating the needs of customers only
B. A company can double its effort in meeting its profitability
C. Engaged in dealing with its top competitors business policy
D. Supporting the needs of the employees, customers and community
31. How can businesses save energy?
A. By using any lights
B. By using low energy lights
C. By leaving the air conditioner on
D. By using the oven before it is needed

32. What can businesses do about recycling?

A. Ask customers to recycle. C. Use recycling bins.
B. Recycle only in front of customers D. They can recycle sometimes.
33. If you want to be in the thick of a physical retail location but not have a traditional retail store, which of the
following will be your option?
A. Direct marketing C. Kiosk
B. Online Retailing D. There is no such option
34. vWhen launching a small retail store, it's crucial to __________?
A. Use a point of sale system C. Proper cleaning techniques
B. Displaying merchandise D. All answers are correct
35. Aling Inday wants to have a retail store near a school. What product should she sell?
A. Alcoholic beverages C. Gravel and sand
B. Cigarettes D. School supplies
36. Cathleen wants to have gift shop in a department store where should she rent?
A. Inside a factory complex C. Silang Market
B. Near Silang highway D. SM Supermall
37. Which of the following is an advantage of money?
A. It is easy to carry C. People tend to accept it
B. It does not rot D. All of the above
38. What is the best explanation of a microenterprise?
A. with capital less than Php. 50,000.00 C. Has more than 25 employees
B. with capital more than Php. 50,000.00 D. Company that owns small businesses
39. What types of risks should entrepreneurs take?
A. vRisks that are extreme
B. Risks that have little chance of success
C. Risks that are not researched or understood
D. Risks that will expand the market and create new opportunities
40. Which of the following Filipino traits is beneficial to the business?
A. Being lazy C. Good in human relations
B. Doesn’t want ot take risk D. Persevering
41. Which of the following traits should an entrepreneur avoid?
A. Creative C. Over-sensitive
B. Independent D. Self-confident
42. Which one is TRUE about an entrepreneurship?
A. There are no known risks
B. They do not hire any employees
C. There are lots of risks and rewards involved
D. They are always well-funded and carefully planned
43. The following are needs of a person except:
A. Car C. Shelter
B. Food D. Water
44. Which of the following is NOT an example of retailing
A. Fishball vendor C. Sari-sari store
B. Repacking and selling white sugar D. Selling a sack of rice
45. Will's Wheels sells new and used bikes along with a full line of replacement parts. Will's is an example of
___________ store?
A. Company C. General merchandise
B. Department D. Specialty
46. Which of the following is correct?
A. Yen:Japan C. Dollar: Philippines
B. Won: China D. Riyal: UAE
47. Which of the folowing is TRUE about cottage enterprise?
I. Only those who have big capital can start a cottage enterprise.
II. Limited profits earnings.
III. Can produce large scale production.
IV. Lack of standardization and quality control.
A. Only I C. Both I and III
B. Both II and IV D. None of the above
48. Which statement is TRUE for business plans?
A. Business plans are a road map for internal users only.
B. Business plans provide lenders with a financial snapshot of the business
C. Business plans do not need to include the owner's educational background
D. None are correct
49. The following are the fundamental characteristics of an entrepreneur EXCEPT:
A. copes with uncertainty C. Future oriented
B. Committed D. Small-minded
50. Which one is NOT a disadvantage of Entrepreneurship?
A. Risky C. Work long hours
B. Uncertain Income D. You are the boss
51. Mr. Magtanggol owns a manufacturing enterprise. He decided to cheaper and low quality materials and sells them at high price.
What will happen to his business?
A. It will develop loyal customers C. It will retain its previous sales
B. It will increase its profit D. It will lose income
 52. Which of the following is NOT example of retailing style
A. Meat vendors: market stalls. C. Ice cream : traveling store
B. Taho vendor : permanent location D. Avon dealership : house to house selling
53. Which of the following is true
A. Producer – Small Buyer C. Retailer – Sells to Wholesaler
B. Wholesaler - Bulk seller D. Consumer – Makes product
54. Which of the following is NOT true about a franchise?
A. Training is provided to the franchise store
B. A royalty must be paid to the corporate office
C. Marketing plans are given to the franchise store
D. There is freedom to stock the products the owner deems appropriate

55. In putting up an enterprise, there are many challenges that an entrepreneur may encounter. Some of these are
having competitors, decrease in product demand and customers. How can you strengthen your business as a
21st century entrepreneur.
A. Any obstacle in the business like calamity and crisis can be neglected because they cannot affect the
production of goods or services.
B. To become successful I must learn the proper planning and management of my business.
C. I must take advantage by increasing the product price during calamities to gain more profit.
D. I will use raw materials with low quality to lessen production cost and increase profit.
56. Every month of May, the supply of mango increases. Its price in the market is cheap. It is when Mang Pepe, a
farmer become problematic because he cannot provide the needs of his family. Why do you think the price of
mango during May?
A. The retailers lower the price.
B. All the trees bear many fruits.
C. The farmers harvest the fruits at the same time.
D. The mango is in season that is why many are selling the fruit.
57. In the continuing increase of mango supply in the market, if you are Mang Pepe what will you do?
A. I will increase the price of mango upon selling in the market
B. I will let the mangoes rot since I cannot sell them at my desired price
C. I will process those mangoes to make another product with higher price
D. I will uproot all the mango trees to make charcoal and sell them in the market.
58. Bea wants to use her skills in designing clothes. She has many buyers who continuously patronize her designs
because they are not only good but also cheap. If you are Bea, what personal entrepreneurial characteristics
you must develop to maintain your costumers.
A. Cautious C. Industriousness
B. Discipline D. Innovative
59. You are making and selling chocolate candies in your community at the price of Php 10.00 each pack. You
have known that another person is also selling is also selling chocolate candies, that is why you have decided
to lower the price of your product to Php. 8.00 per pack. Since then your profit decreased. What will you do to
gain back the profit that you were earning before?
A. I will sell another product that will be more saleable.
B. I will ask my competitor to think of another product to sell.
C. I will make my candies more delicious to make it special in order to sell them at a higher price.
D. I will request the barangay captain to revoke the permit of my competitor, since I am the first to sell
chocolate products.
60. Aling Nenita is a sari-sari store owner. She keeps a stock that she bought at a lower price. After a week, the
price of these products increased. If you are Aling Nenita, what will you do?
A. I will sell them at the original selling price.
B. I will sell them at the higher price to gain more profit.
C. I will donate some of the products in order to help my fellowmen.
D. I will not sell the products yet and wait for the price of the product to increase more before I sell them.

§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§ GOOD LUCK AND GOD BLESS §§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§

Proverbs 11:3 NIV
The integrity of the upright guides them,
but the unfaithful are destroyed by their duplicity.

Prepared by: Hannah Faye A. Navarro Checked by: Ivy Filipina Toledo
Teacher I Master Teacher

Approved By: Cristina Austria

Principal IV
 MUNTING ILOG NATIONAL HIGH SCHOOL

S.Y. 2018-2019
1st Periodic Test in T.L.E.7 - Entrepreneursip

TABLE OF SPECIFICATION
Second Periodic Test

COGNITIVE PROCESS DIMENSIONS

No. Of % of NO. OF ITEMS Understan
Remembe Application Analysis Evaluation Creating
ding -
TOPIC Days Teachin ring -20%
20%
-20% -15% --15% -10%
Taught g Time ACTUA
% ITEM PLACEMENT
L
Development of
Circulation of Money 2 11% 6.32 6 1 13 25 37 46 -
History of Cottage and
Small Industry 2 11% 6.32 6 2 14 26 38 47 55
Concept Of
Entrepreneurship 2 11% 6.32 7 3 15 27,28 39 48 56
Qualities of Entrepreneur 2 11% 6.32 7 4,5 16 29 40,41 49 57
Role of Entrepreneurs 2 11% 6.32 6 6 17 30 42 50 58
Identifying Business
Opportunies 3 16% 9.47 9 7,8 18,19 31,32 43 51 59
Retailing Scope and 20,21,2
Importance 3 16% 9.47 9 9,10 2 33,34 44 52 -
Retail Outlets and their
Operations 3 16% 9.47 10 11,12 23,24 35, 36 45 53,54 60
TOTAL 19 100% 60 60 12 12 12 9 9 6
12.00 12.00 12.00 9.00 9.00 6.00

Prepared by:
Checked by:
Hannah Faye A. Navarro Checked by: Ivy Filipina Toledo
Teacher I Master Teacher

Approved By:

Cristina Austria
Principal IV