DMC COLLEGE FOUNDATION

SENIOR HIGH SCHOOL

Santa Felomina, Dipolog City, Zamboanga del Norte

BASIC EDUCATION DEPARTMENT ENTREPRENEURSHIP

THIRD QUARTER EXAMINATION Earl Russell S. Paulican

NAME: ___________________________________________ SCORE: ____________________

Grade and Strand: __________________________________ DATE : _____________________

“Commit to the Lord whatever you do, and your plans will succeed”
Proverbs 16:3
GENERAL INSTRUCTIONS: NO CHEATING. Erasures and any form of alterations will invalidate your answer.

Test I. TRUE OR FALSE. Write True if the statements are ALL correct in each item and False if otherwise. (2 Points Each)

1. Entrepreneurship is the art and science of planning and organizing a business enterprise. This
statement is a fallacy.
2. The word ENTREPRENEUR originated from the Greek word “entrepende”, which means “to
undertake”. This statement is true.
3. According to Peter Drucker, MARKETING is about getting things done through and with other
people. This statement is wrong.
4. One thing that distinguishes a manager from an entrepreneur is that the former is personally
responsible whereas the latter is merely responsible. This statement is true.
5. Entrepreneurs identify opportunities in the market. OPPORTUNITIES refer to the presence of
internal resources. The first statement is correct whereas the second is not.
6. Entrepreneurs need to live and accept that in order to be competitive, one has to live with a
constantly changing environment and get the best out of it through new product
development and innovation. INNOVATION is the changing or alteration of the existing
product to bring out a new and improved product. These statements are true.
7. Economics is a social science that deals on the study of how society allocates its scarce
resources to satisfy the unlimited needs and wants of the people. SCARCITY is the central
concept in the study of economics and business which means “things we can’t live without”.
The first statement is correct and the second is wrong.
8. The entrepreneur should be able to see the strengths and weaknesses of people who would
be working in the venture. STRENGHT of the organization refers to the presence of external
resources. The two preceding statements are correct.
9. The world of business is getting smaller and borderless on account of globalized scheme of
doing business exacerbated by the increasing role of technology particularly the internet. The
internet undeniably affects entrepreneurship because it spurs productivity. The first
statement is wrong whereas the second is not.
10. One advantage of becoming an entrepreneur is the opportunity to excel, be recognized and
contribute something constructive to the progress of the society. This statement is wrong.

Test II. IDENTIFICATION. Write the correct answer/s on the space provided before each item. (2 points each)

____________________1. It is the distinct process of planning, organizing, staffing, directing and controlling to achieve
organizational goal with the help of human resource and other resources.
____________________2. It refers to the willingness and ability to buy goods and services at given prices.
____________________3. The art and science of organizing and managing an enterprise.
____________________4. The most important resource among the (5M’s) of the business organization.
____________________5. The traditional means of exchanging goods practiced by Filipinos, whereby goods are
exchange of another good.
____________________6. What particular class of the society engages in trade and businesses in the historical times.
____________________7. Refers to the corporate response and initiative of producing products and services through
means which is least prejudicial to the environment. ( eg. Lessening of plastic caps for Nature Spring bottled water)
____________________8. Gross domestic product divided by the total population of the country.
____________________9. Refers to that component of measuring GDP which is derived by deducting the country’s
import from the country’s export.
___________________10. An economics laws coined by Jean Baptiste Say which states that “Supply creates its own
demand”.

GOD Bless 
Test II. Enumerate and briefly define your answers. (2 points each)
I.) Personal Prerequisites of an Entrepreneur

A.

B.

C.

D.

E.

II.) Differences Between an Entrepreneur and a Manager

A.

B.

C.
D.

E.

Test III. Match column i with column ii. Write the letter only.(1 point each)

i ii
_______1. These are things that we can live without. A. Price
_______2. Refers to the absence of internal resources. B. Competitive Advantage
_______3. Getting things done through and with other people. C. Profit
_______4. Revenue less expenses. D. Economics
_______5. A social science that deals on the study of society manages E. Needs
its scarce resources. F. Manager
_______6. The science and art of planning and organizing an enterprise. G. Adam Smith
_______7. The interface of the company’s strengths and opportunities. H. Man
_______8. “To undertake” I. Weaknesses
_______9. French economist who coined the term “entrepreneur”. J. Jean Baptiste Say
_______10. A creator and owner of a venture. K. Entrepreneurship
_______11. A Filipino attitude which connotes “sense of decency” L. “delicadeza”
_______12. A Filipino mentality of putting of what can be accomplished M. “Ningas Cogon”
today for a later time. N. Strength
_______13. The absence of external resources. O. “manyana habit”
_______14. The process/art of influencing others to achieved a certain goal. P. Threats
_______15. The primary and the most important resource of a business firm. Q. entrepreneur
R. “entreprende”
S. Money
T. Management
U. Marketing
V. Leadership
W. Venture

Test IV Essay. Legibly write your answers in not less than 10 sentences. Utilize the back page.
( 10 points each) 7 points= substance/content 3 points=structure

1.) Discuss the importance of this subject (ENTREPRENEURSHIP) in your future career and in your life as a whole.
2.) What do you think are the reasons why numerous Filipino entrepreneurs failed in their entrepreneurial
undertakings? Discuss comprehensively.

-Success is a Choice, not a Destiny-

_keep on dreaming_
-Merry Christmas and a Prosperous New Year-

GOD Bless 