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

Directions: Choose the letter of the correct answer and write in CAPITAL LETTERS only in your answer sheet.
Be honest in taking the examination.
1. During the ancient times people used barter as exchange system acquiring their necessities. In our modern time
barter is replaced by this item or verifiable record that is generally accepted as payment for goods and services.
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. An enterprise operation needs production, distribution, of goods or services. Who creates a new product to sell
and takes on all of the risks and responsibility?
A. Entrepreneur C. Enterprise
B. Entrepreneurship D. Executive
4. During the prehistoric time, the production of goods and services are dictated by kings and emperors. Who are
the first entrepreneurs that initiated frees 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 PEC 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 PEC 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 that an entrepreneur can use as business
opportunities.
A. Land C. Needs
B. Money D. Wants
10. What method of financing is available to small business owners?
A. Loans D. None of the answers are correct
B. Personal savings E. All of the answers are correct
C. Selling equity
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 has a created a new product for her new business. She has launched this product to help improve the
existing hair care products that are currently out. Which of the following is Becky known as?
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. There are so many sprouting sari-sari store in any community. But they still gain profits despite of thick
competition and many more are inspired to set-up this kind of business. Why they prefer to put-up a sari-sari
stores?
A. It is very easy to establish
B. It require small amount of capital
C. There are many customers in a community
D. All of the above is correct
E. All the choices are wrong
22. Imagine you own a small business that sells watches that you have created. Because you are a small business,
you have more flexibility and can adapt to change quicker compared to a larger company. Which of following
BEST describes the type of market that will give you a competitive advantage over large companies?
A. A commodity market C. A global market
B. A capital goods market D. A personal selling market
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 he should 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 have 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 way of 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
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 C. By leaving the airconditioner on
B. By using low energy lights 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 would provide you the option?
A. Direct marketing C. Kiosk
B. Online Retailing D. There is no such option
34. When 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. Cigarrettes 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. Risks 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 an entrepreneur must 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 Kaban 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 shift in using materials made of cheaper but not so good quality 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. One of those is
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 for the needs of his family. In your own opinion why the
price of mango is lower during the months of 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. 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
58. 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.
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 has a lot of stocks that she baught at a lower price. After a week, the
price of those products increased. If you are Aling Nenita, what would 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
First Periodic Test

No.
COGNITIVE PROCESS DIMENSIONS
Of % of NO. OF
Day Teach ITEMS Remembering Understandin Application Analysis Evaluation -- Creating -
TOPIC ing -20% g -20% -20% -15% 15% 10%
s
Tau Time ACTU
% ITEM PLACEMENT
ght AL
Development of Circulation 6.3
of Money 2 11% 2 6 1 13 25 37 46 -
History of Cottage and Small 6.3
Industry 2 11% 2 6 2 14 26 38 47 55
6.3
Concept Of Entrepreneurship 2 11% 2 7 3 15 27,28 39 48 56
6.3
Qualities of Entrepreneur 2 11% 2 7 4,5 16 29 40,41 49 57
6.3
Role of Entrepreneurs 2 11% 2 6 6 17 30 42 50 58
Identifying Business 9.4
Opportunies 3 16% 7 9 7,8 18,19 31,32 43 51 59
Retailing Scope and 9.4
Importance 3 16% 7 9 9,10 20,21,22 33,34 44 52 -
Retail Outlets and their 9.4
Operations 3 16% 7 10 11,12 23,24 35, 36 45 53,54 60
100
TOTAL 19 % 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