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DEPARTMENT OF EDUCATION

REGION 1
PANGASINAN DIVISION II
MANAOAG NATIONAL HIGH SCHOOL
SENIOR HIGH SCHOOL

THIRD QUARTER EXAMINATION


SECOND SEMESTER, SY 2018-2019
ENTREPRENEURSHIP
(12 HUMSS – SOCRATES; 12 HUMSS – ARISTOTLE; 12 HUMSS – PLATO)
Name: _______________________________________________________ Date: ____________________
Grade & Strand: ____________________ LRN: ______________________ Score: ___________________
Multiple Choice. Read each of the following statements / questions and choose the item that answers correctly the question or
the best completes the statements. Write the letter of your choice in the space provided for.

_____1. The following statements describe the executive summary of a business plan except
a. It is the synthesis of the entire plan.
b. It contains the major argumentations of the business proponent
c. It provides arguments to the audience why they should participate in the business venture
d. It indicates the return on investment.
_____2. The business model shows how the enterprise exactly plans to make money out of the business. The following are
areas of moneymaking which the business model must address except:
a. How will the business raise revenues?
b. What will be the cost of the enterprise products?
c. How will the enterprise finance investments?
d. What marketing strategy should the business adopt?
_____3. Joshua, an entrepreneur, decided to name his business JoSHOErite. He designed his own logo to identify his product.
This process of promoting a product is known as
a. Branding b. advertising c. Pricing d. marketing
_____4. The prevalence of sugar-free products is now in-demand particularly to products that used to be sugar-full like soft
drinks and desserts. Cola manufacturers have long introduced their respective sugar-free cola drinks as healthier alternatives
which cater to health-conscious consumers. This source of opportunity for entrepreneur shows that
a. Customer preferences change over time
b. The longer the customer wants to use the product, the greater the chances of creating lasting loyalty
c. Determining personal preferences and competencies lay the foundation for a new business venture
d. What piques customers is a great source of opportunity
_____5. The political environment defines the governance system of the country or the local area of the business. Which of
the following sets display this type of macro environment force?
a. Acquisition of new machines, new business processes, introduction of systematic information system
b. consumers’ beliefs, tastes, customs and traditions
c. business permits, license to operate, disposal of waste
d. foreign exchange rate, purchasing power of the people
_____6. In a market economy, an entrepreneur is free to produce and offer to consumers any legal product or service.
Knowledge of business activities will help the entrepreneurs satisfy the customers and make a profit. These activities or
functions describes for all business in a market economy to spend a great deal of time developing, implementing and
evaluating plans and activities. This is what we called?
a. Production b. Management c. Marketing d. Finance
_____7. Winnie and her friends like to listen to Korean music, eat Korean food and love to watch Goblin. This entrepreneur
opportunity is known as
a. Consumer Piques b. Consumer Perception c. Consumer Preferences d. Consumer Dislikes
_____8. Entrepreneur, know thy market well! Why this simple reminder must keep the entrepreneur alert all the time?
a. To satisfy the needs and wants of the proprietor
b. To improve the managerial skills of the entrepreneur
c. To determine the customer needs and wants
d. To identify the market share of the business
_____9. Which of the following statements best describes the word “entrepreneurship”?
a. refers to the ability of an individual to come up with the resources available in the community and transform this
into an output and obtain profit from this activity.
b. refers to the ability of an individual on how he is going to make products, ow to run and manage the business.
c. Refers to the ability of an individual to identify unmet needs in the market pplace.
d. All of the above
_____10. What is the correct sequence of the steps involved in the activities in entrepreneurship?
I – Spotting opportunities
II – Conceptualizing this opportunities to business ideas
III – Identifying and using resources in the environment
IV – Gain profit out of the activity
a. I-II-III-IV b. II-III-I-IV c. I-III-II-IV d. III-I-II-IV
_____11. In a market economy, an entrepreneur is free to produce and offer to consumers any legal product or service.
Knowledge of business activities will help the entrepreneurs satisfy the customers and make a profit. These activities or
functions describes as the primary reason a business exits in a market economy is to provide products or services to
consumers and to earn a profit. This is what we called?
a. Production b. Management c. Marketing d. Finance

_____12. In entrepreneurship the first investment of the entrepreneur is his/her _____.


a. Creativity b. Passion c. Ideas d. Opportunity
_____13. Marky own a business, he operate and take the risk of his business venture. He decided to name his business
MaRkYLious. He designed his own logo to identify his product. Joshua is considered as a/an ___________.
a. Manager b. Owner c. Entrepreneur d. Developer
_____14. Which of the following is NOT a benefits of being an entrepreneur which is not limited to?
a. No Boss b. Do your passion c. Family Risk d. decide for your destiny
_____15. Which of the following is NOT a risk of being an entrepreneur which is not limited to?
a. Long hours of work c. Uncertainty of income
b. High Level of stress d. Help the community
_____16. Which of the following describe the socio-economic benefits from entrepreneurship?
a. Promotes Self-help and Employment c. Empowers individual
b. Provides taxes to the community d. All of the above
_____17. Opportunity is more concerned with ____ and Ideas is more concerned with _____.
a. possibilities from existing conditions ; concepts that come from creative thinking
b. concepts that come from creative thinking ; possibilities from existing conditions
c. hobbies and interest ; Innovations
d. Discovery and Past Experiences ; Thoughts that come from many sources.
_____18. How can you find out about various business opportunities?
a. Government Publications b. Trade shows c. Trade Magazines d. All of the above
_____19. For everything you do in life, you set goals. Goals help you stay on track and follow through your plans. The best
goals are SMART. What SMART stand for?
a. Specific, measurable, Attainable, Realistic, timely
b. Specific, measurement, Attainment, Result Oriented, Time bound
c. Specific, measurable, Attention, Real, Time bound
d. Specific, measurement, Attainment, Realistic, Timely
_____20. In a market economy, an entrepreneur is free to produce and offer to consumers any legal product or service.
Knowledge of business activities will help the entrepreneurs satisfy the customers and make a profit. These activities or
functions describes all business in a market economy need to complete marketing activities in order to make their products
and services available to consumer. This is what we called?
a. Production b. Management c. Marketing d. Finance
_____21. What factors affect economic choices of the enterprise and consumers?
a. scarcity and opportunity cost
b. needs and wants
c. demand and supplu
d. None of the above
_____22. Why is business plan important in starting a business?
I - Describe what your business will produce, how will you produce it and who will buy your product or service.
II - Explains who will run your business and who will supply it with goods
III - States how your business will win over customers from competitors and what your business will do to keep
customers
IV - Provides detailed financial information that shows how your business will succeed in earning a profit

a. All of the above c. I and II only


b. I, II and III d. III and IV only
_____23. Writing a solid business plan is critical because the plan can make or break the business. Which of the following
should NOT be included in the business plan?
a. What the business will produce or what service to offer
b. Who will run the business and who will supply the raw materials
c. How the business will win over customers from competitors
d. How will the partners pay their personal liabilities
_____24. In a market economy, an entrepreneur is free to produce and offer to consumers any legal product or service.
Knowledge of business activities will help the entrepreneurs satisfy the customers and make a profit. These activities or
functions describes one of the first responsibilities of an entrepreneur by determining the amount of capital needed for the
business and how the capital will be obtained. This is what we called?
a. Production b. Management c. Marketing d. Finance

_____25. When the price is determined by how much customers are willing to pay for the product through survey, it is called
a. Demand – Based Pricing b. Cost – Based Pricing c.Survey – Based Pricing d. Time – Based Pricing
II. REASONING:

26-35. LOoK BeFoRe U LeAp


Tony worked for a local automobile dealership as a technician for over 20 years. He always received very high customer
service ratings. One day, Tony decided that because he was such a good technician, he could make more money working on
his own. At a local print and signage shop, he had business cards printed and a sign made that read “Tony the Technician”. He
quit his job at the dealership on Friday, put his sign up Sunday, and was open for business Monday.

Question:
What do you think are Tony’s chances for success? Discuss what advice you would have given only if he had talked
to you about his idea first.

35 – 50. What Would you do?


You are looking for a vendor to supply your new business with a computer, a printer, and a copy machine. You have
contacted several vendors offers you “special” deal if you accept his quote before the end of the day. In addition to a competitive
price for the equipment, he is offering you tickets to a PBA game in a private stadium suite. He wants you to agree to the deal
without signing a contract and has asked that you pay him in cash. What would you do?