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Entrep Quiz

This document appears to be a quiz covering various concepts related to entrepreneurship and business management. There are 29 multiple choice questions testing understanding of topics like the definitions of key terms like employee, entrepreneur, and aptitude. It also covers different types of entrepreneurial businesses, advantages and disadvantages of entrepreneurship, societal economic benefits, SWOT analysis, goal setting, marketing, and the strategic planning process. The questions are meant to assess knowledge on these fundamental business and entrepreneurship topics.

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dkenneth rbalimbin
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262 views1 page

Entrep Quiz

This document appears to be a quiz covering various concepts related to entrepreneurship and business management. There are 29 multiple choice questions testing understanding of topics like the definitions of key terms like employee, entrepreneur, and aptitude. It also covers different types of entrepreneurial businesses, advantages and disadvantages of entrepreneurship, societal economic benefits, SWOT analysis, goal setting, marketing, and the strategic planning process. The questions are meant to assess knowledge on these fundamental business and entrepreneurship topics.

Uploaded by

dkenneth rbalimbin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Name:______________________________ Class No.:_______ Yr.

& Sec:_________ Score:_________


Directions: Read the following questions and write the letter of the correct answer on the space before the number.
_____1. People who work for someone else
A. Aptitude B. Employee C. Entrepreneurs D. Entrepreneurship
_____2. Evaluation of your strengths and weaknesses
A. Self-Assessment B. Employee C. Entrepreneurship D. Entrepreneur
_____3. People who own, operate, and take risk of a business venture
A. Aptitude B. Employee C. Entrepreneurs D. Entrepreneurship
_____4. The ability to learn a particular kind of job
A. Aptitude B. Employee C. Entrepreneurship D. Entrepreneur
_____5. Which one is NOT a disadvantage of Entrepreneurship?
A. Risky B. Uncertain Income C. You are the boss D. Work long hours
_____6. Which one is NOT an advantage of Entrepreneurship?
A. Can choose a business of interest B. You can be creative C. Make a lot of money D. You will make decisions alone
_____7. What type of entrepreneurial business actually produce the products they sell?
A. Manufacturing B. Wholesaling C. Retailing D. Service
_____8. What type of entrepreneurial business sells products to people other than the final customer?
A. Manufacturing B. Wholesaling C. Retailing D. Service
_____9. What type of entrepreneurial business sells products directly to the people who use or consume them?
A. Manufacturing B. Wholesaling C. Retailing D. Service
_____10. What type of entrepreneurial business sells service instead of a product?
A. Manufacturing B. Wholesaling C. Retailing D. Service
_____11. The best business opportunities combine internal and external factors.
A. True B. False
Following Questions are from Societal economic Benefits of entrepreneurship
True of False: Write the word TRUE if the statement is correct word FALSE if not.
_____12. Entrepreneurship produces more jobs that equate to an decrease in national income.
_____13. Entrepreneurship amplifies economic activities of different income of the business.
_____14. Entrepreneurship introduces new and innovative products and services.
_____15. Entrepreneurship improves people’s living standards.
_____16. Entrepreneurship disperses the economic power and creates quality.
_____17. Entrepreneurship controls the local wealth and balances regional development.
_____18. Entrepreneurship reduces social conflicts and political unrest.
_____19. Entrepreneurship elicits economic independence and capital formation.
_____20. Why is it important for companies to evaluate managerial decisions using a SWOT Analysis?
A. It analyzes strengths, weaknesses, obligations, and threats.
B. It analyzes strong points, weak points, opportunities, and threats.
C. It analyzes strengths, weaknesses, opportunities, and threats.
D. It analyzes strengths, weaknesses, opportunities, and time.
_____21. Jessica has just conducted a SWOT analysis of her firm. What should her next steps be?
A. Making sure that weaknesses are offset by the strengths and threats are turned into opportunities.
B. Making sure that weaknesses are offset by opportunities and threats are turned into strengths.
C. Making sure that strengths are offset by weaknesses and opportunities and turned into threats.
D. Making sure that opportunities are offset by threats and strengths are turned into weaknesses.
_____22. What is a definition of an objective?
a) A defined specified outcome to be achieved in the long-term
b) A clear set of goals to be attained given a set number of resources
c) A clearly defined and measurable outcome to be achieved over a specified timeframe
d) A set standard of performance agreed by workers and managers
_____23. What does the acronym SMART stand for?
a) Suitable, measurable, actionable, rewarded and timely b) Specific, measurable, actionable, resourced and timely
c) Standardized, measurable, achievable, rewarded, and timely d) Specific, measurable, achievable, relevant and timely
_____24. Which of the following statements best expresses the meaning of 'real goals'?
a. Real goals are those which, if achieved, would most enhance the reputation of the organization
b. Real goals express what the organization says that it intends to do
c. Real goals are those to which people give most attention
d. Real goals are those which the organization has achieved
_____25. Which one of the following is not listed in the SMART acronym for assessing a set of goals?
a. Measurable b. Specific c. Adjustable d. Rewarded
_____26. At the corporate level, a organization starts the strategic planning process by defining its overall purpose and _____.
a. mission. b. values. c. vision. d. all the above.
_____27. The definition of marketing includes all but one of the following:
a. the need to earn a profit.
b. the process of determining customer wants and needs.
c. profitably providing customers goods and services that meet their needs.
d. an exchange between the organization and a customer.
_____28. Which of the following is a step in the marketing process?
a. finding a need. b.conducting research. c. setting a price and do market testing. d.all of the above.
_____29. The first thing to do in the marketing process is:
a. find a need. b.test marketing. c.conduct research. d.build a relationship with customers.

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