AGUSAN DEL SUR COLLEGE, INC.

Bayugan City, 8502 CARAGA Philippines

BASIC EDUCATION DEPARTMENT
Midterm Examination in Entrepreneurship
First Term-Second Semester
(XII - Becker)
NAME: ______________________________ Strand/Grade/ Section: _______________Date: ___________
I. MULTIPLE CHOICE. Write the letter of the best answer before each item. (1 point each)
1. It is derived from a French root ‘entreprendre’, meaning, "to undertake".
A. Entrepreneurship B. Enterprise C. Entrepreneurial D. Entrepreneur
2. A business where an individual is both the owner and conductor of the business affairs is called
A. Sole Proprietorship B. Partnership C. Corporation D. Cooperative
3. The idea and actions that explain how a firm will make its profits refers to
A. Mission B. Goal C. Strategy D. Objective
4. In which of the following, the ownership of venture is reflected by ownership of shares of stock?
A. Partnership B. Limited partnership C. Corporation D. Proprietorship
5. Which of the following is NOT a possible entrepreneurship career opportunity for the academic track?
A. Business Development B. Marketing & Sales C. Policy Drive D. Production Pattern Maker
6. Which of the following is not an example of services?
A. Medical B. Banking C. Education D. Cosmetics
7. An entrepreneur’s primary motivation for starting a business is
A. To make money B. To be independent C. To be famous D. To be powerful
8. It has an asset of P5 million to less than P20 million and employs 100 or more workers.
A. Cottage Enterprise B. Small Enterprise C. Medium Enterprise D. Large Enterprise
9. The development of a new venture based on an inventor’s work often requires
A. Expertise of an entrepreneur C. Skilled human resources
B. Heavy investment from financers D. Highly educated staff
10. Entrepreneurs are concerned about basic issues of
A. Sales, costs, and benefits C. Risks, costs and benefits
B. Customers, sales, and costs D. None of the above

For numbers 11-20, choose from the options below.

A. If the two statements are both correct.
B. If the first statement is correct while the second one is not.
C. If the second statement is correct while the first one is not.
D. If the two statements are both incorrect.
11. I. In the 18th century, the term entrepreneur was used to describe both an actor and a person who was in charge of and
managed large production projects.
II. 21st century was hailed as the DotCom era; entrepreneurs are considered the heroes of free enterprise.
12. I. The enterprising spirit of South Korea is quite obvious in such companies as Samsung and Kia that have now become
well-known even outside the country.
II. Entrepreneurs in Singapore are exploring opportunities over the internet.
13. I. From a psychologist’s point of view, entrepreneur is someone who brings resources, labor, materials, and other assets into
combinations that make their value greater than before.
II. From a management perspective, the entrepreneur is someone who identifies opportunities, plans, mobilizes resources,
manages, and assumes the risks of a business to have a positive impact on society.
14. I. In the 17th century, entrepreneur was someone who would enter into a formal agreement with the government to provide
products or services.
II. In the 18th century, entrepreneur was distinguished from the capitalist who simply provides money for the creation of
products to be sold.
15. I. Drive is the belief that together with the other people, things can be done in the business.
II. Commitment is the determination to succeed by overcoming obstacles and setbacks.
16. I. Innovativeness is the ability to come up with something different or unique every time.
II. Perseverance is the internal desire to pursue and attain challenging goals.
17. I. Micro Enterprise has an asset size not exceeding P50,000.
II. Cottage Enterprise has an asset of P500,000 but not exceeding P2.5 million.
18. I. Commitment competencies drive the entrepreneur to move ahead with the business.
II. Strategic competencies are related to setting, evaluating and implementing the strategies of the firm.
19. I. Responsibility is their willingness to put themselves in situations, where they are personally responsible for the success or
failure of the business operation.
II. Tolerance for failure is using it as a learning experience.
20. I. Creative style is the combination of “analytical and conceptual thinking”.
II. Knowing style is characterized by “holistic and conceptual thinking.”

II. ENUMERATION. Supply the needed information. (1 point each)

1-4. Potential Sources of Opportunity
5-7. Factors to Consider in Starting a Business
8-10. Role of Entrepreneurship and Entrepreneurs in Economic Development and Society
1. 6.
2. 7.
3. 8.
4. 9.
5. 10.

III. MATCHING TYPE. Identify what type of businesses or government agencies in the Philippines are the pictures
presented below and match your answer to the given options. Write the letter of the correct answer below each item.
(1 point each)

1 2 3 4 5

6 7 8 9 10

A. Education I. National Food Authority

B. Construction J. Social Security System
C. Manufacturing K. Bureau of Food and Drugs
D. Real Estate Activities L. Bureau of Fisheries and Aquatic Resources
E. Mining and Quarrying M. Department of Science and Technology
F. Transportation and Storage N. Department of Labor and Employment
G. Information and Communication O. Department of Trade and Industry

IV. ESSAY. Connect or relate each motivational quote to entrepreneurship and limit your answer to 3-7 sentences.
(5 points each)
1. “Think Globally; Act Locally.”

2. Thomas Edison: “I have not failed. I’ve just found 10,000 ways that won’t work.”

Prepared by:
JESSA MAE BANAWAN EDULAN