Subject Area : Sector :

Technology and Livelihood Education ENTREPRENEURSHIP

Direction: Read and understand each statement/question carefully. Choose the letter of the correct answer and write it on the space provided. _____1. It is the capacity of an individual to forecast new business prospects in the form of goods and services needed by others and to deliver them at the right time, to the right people, at the right place and at the right price. a. b. Business Entrepreneurship c. d. Employment Enterprise

_____2. It is any activity which provides customers with a product (goods/services) with a view to making a profit. a. b. Business Entrepreneurship c. d. Employment Enterprise

_____3. It refers to an individual who bares uncertainty, buys labor and materials and sells products at uncertain prices. a. b. Employer Customer c. d. Entrepreneur Supplier

_____4. Which of the following is NOT closely associated with entrepreneurship? a. b. flexibility factors change and creativity c. d. knowledge and innovation leadership

_____5. Which of the following is NOT true about entrepreneurship? a. Entrepreneurship contribute significantly to the continuous improvement of living standards b. Entrepreneurship helps the development of a handful of people getting rich through enterprise c. Entrepreneurship activities slow down the countrys unemployment rates d. Entrepreneurship provides an opportunity for making unproductive use of capital resources

_____6. To communicate effectively is one quality of a good entrepreneur. Which of the options below is the most important? a. b. Sales ability Strong work ethics c. d. Self discipline Strong leadership qualities

______7. Which PECs behavioral indicator meets or beats existing standards of excellence to improve performance? a. b. c. d. Opportunity seeking Persuasion and networking Demand for quality and efficiency Commitment to the work contract

______8. Which of the following statements is not a good PECs indicator? a. b. c. d. Developing and using alternatives to monitor progress Ready to adapt to alternatives or strategies when necessary Developing systematic plans and monitoring activities and performance Accomplish business objectives and use of network of friends and acquaintances

______9. Which of the following is NOT true about Achievement Cluster of PECs? a. An entrepreneur wants to perform tasks excellently not only for prestige or money but for the sake of excellence itself. b. An entrepreneur is said to be a good opportunity- seeker if he sees and acts on new business opportunities and seizes unusual opportunities to acquire financing, equipment, land and work space or assistance. c. A true entrepreneur is not satisfied with mediocre work. d. None of the above _____10. Business is classified according to its: a. Operations and Products b. Operations and Ownership c. Products and Services d. Product and Ownership _____11. The types of business according to operations are: I. Sole Proprietorship V. Service Business II. Cooperative VI. Partnership III. Manufacturing VII. Corporation IV. Merchandising a. b. I, II, III, IV III, IV, V c. d. V, VI, VII I, III, VI

_____12. In order to persuade others, the entrepreneur uses deliberate strategies. In order to accomplish his business objectives he uses his network of useful friends and acquaintances. What PECs in demonstrated in the statement? a. Persuasion and Networking b. Goal Setting c. Planning and Monitoring d. Demand for Quality and Efficiency _____13. Which of the following is NOT under the Power Cluster of PECs? a. Persuasion and Networking b. Self-Confidence c. Information-Seeking d. None of the Above For items 14-15, refer to the paragraph below. Jane and Rose are best of friends working in the same agency. While they were having their coffee break one day, Rose having three children going to school complained to Jane how difficult to make ends meet with the meager salary they are receiving. When Jane heard her friend, she said why dont you put-up a sideline? You are a good cook. You can sell peanut adobo, brittle, peanut butter or other food products. I am sure you will not have problems in terms of raw materials because these raw materials are abundant in our community. Rose is sold to the idea and persuaded her friend to be her partner. The two friends contributed P2,000.00 each to start the business. They agreed to have equal profit. Rose would take care of production while Jane will concentrate in marketing. Jane started getting orders while Rose concentrated in cooking. When they succeeded in getting big orders they decided to register their business as a partnership under the name R & J Food Products. From then on, their costumers have regular orders and even becoming bigger. After six months of operation, the partners earned P20,000.00 and they decided to divide it equally between them.

____14. What type of business is demonstrated in the paragraph above based on its ownership? a. Sole Proprietorship c. Manufacturing b. Merchandising d. Partnership ____15. Based on its operations, what type of business do Jane and Rose have? a. b. Sole Proprietorship Merchandising c. d. Manufacturing Partnership

Answer Key 1. B 2. D 3. C 4. A 5. D 6. A 7. C 8. B 9. D 10. B 11. B 12. A 13. C 14. D 15. C

Prepared by: Carla Joyce B. Navarrete BBTE 4-1