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Semi Final Exam Entrep

1. The document is a semi-final exam for an entrepreneurship class that tests students' understanding of key entrepreneurship concepts through multiple choice questions, classifications of costs, true/false statements, and an essay question. 2. The multiple choice questions cover topics like the definition of an entrepreneur, reasons for business success or failure, importance of small businesses, and different pricing strategies. 3. Students are asked to classify common business costs as either fixed or variable. 4. The true/false statements test students' understanding of entrepreneur traits, the role of innovation, and whether entrepreneurship can improve lives and is an economic activity. 5. The essay question asks students to explain what makes being an

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Ericson C Ungria
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454 views3 pages

Semi Final Exam Entrep

1. The document is a semi-final exam for an entrepreneurship class that tests students' understanding of key entrepreneurship concepts through multiple choice questions, classifications of costs, true/false statements, and an essay question. 2. The multiple choice questions cover topics like the definition of an entrepreneur, reasons for business success or failure, importance of small businesses, and different pricing strategies. 3. Students are asked to classify common business costs as either fixed or variable. 4. The true/false statements test students' understanding of entrepreneur traits, the role of innovation, and whether entrepreneurship can improve lives and is an economic activity. 5. The essay question asks students to explain what makes being an

Uploaded by

Ericson C Ungria
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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55

Archdiocesan School of San Fabian, Inc.


San Fabian, Pangasinan
ENTREPRENEURSHIP
Subject Teacher: Mr. Ericson C. Ungria
SEMI FINAL EXAM
SAINT ANDREW

NAME: __________________________ DATE: ____________


SECTION: ________________ SCORE: __________

Test I. Multiple Choice


Direction: Read the following sentences carefully and choose the letter of the correct answer.
Encircle the letter that corresponds to the correct answer.
1. An individual who starts, creates and manages a new business can be called _________ .
A. A leader B. A manager C. A professional D. An entrepreneur
2. Trademarks relate to________ .
A. Practice and knowledge acquired through experience
B. The protection of proprietary information of commercial value
C. The right to reproduce one’s own original work
D. Brand identity
3. Which could provide an individual with the motivation to start a new business venture?
A. The financial rewards. B. A desire to be independent.
C. Risk taking D. All the above
4. Why are small businesses important to a country's economy?
A. They give an outlet for entrepreneurs. B. They can provide specialist support to larger companies.
C. They can be innovators of new products. D. All the above.
5. A business arrangement where one party allows another party to use a business name and sell its
products or services is known as_______.
A. A cooperative. B. A franchise. C. An owner-manager business. D. A limited company
6. Which of the following is the reason for business failure ?
A. Lack of market research B. Poor financial control C. Poor management. D. All the above
7. Entrepreneurs are motivated by_____________ .
A. money B. personal values C. profit D. All the above.
8. What is a disadvantage of being an entrepreneur?
A. You do not always receive a regular paycheck
B. You have more control over your work
C. You have a more flexible schedule
D. Your work schedule is always predictable
9-10. What is the purpose of a business plan? (choose 2 correct answers)
A.States the purpose and vision of your company
B. Legal document to be filed
C. States the amount of capital you need to run the company
D. To document your financial activity for one year
11-12. Which is a way to advertise your business or product? (choose 2 correct answers )
A. messenger B. Support Media C. internet D. television
13. What is one of the element of the marketing mix that produces revenue?
A. Product B. Promotion C. Price D. People
14. Which pricing strategy is been used in the following scenario?
The 59 inch flat screens TVs are now selling for $800 at most retailers; however, the new retailer in
town is intentionally selling the TVs for $200. The new retailer knows this will put some of his
competition out of business.
A. Premium pricing B. Predatory Pricing/Destroyer
C. Psychological Pricing D. Price Discrimination
15.The store prices its product as P9.99 instead of P10, and $1.99 instead of P2. Which pricing
strategy is been used in the following scenario?
A. Premium pricing B. Predatory Pricing/Destroyer
C. Psychological Pricing D. Price Discrimination

16. Godiva packages their chocolates using an elegant high-quality box and gold wrapping paper.
Commercials of Godiva include images of couples in elegant clothing and in elegant settings enjoying
the elegant chocolate. Which pricing strategy is been used in the following scenario?
A. Premium pricing B. Predatory Pricing/Destroyer
C. Psychological Pricing D. Price Discrimination
17. Which of the following Pricing Strategies describes when you take the cost of producing a good
and add on a percentage of profit to arrive at the selling price?
A. Cost-plus pricing B. Promotional Pricing C. Low pricing D. High pricing
18.Which of the following pricing strategies describes when a product is priced at £4.99 rather than
£5.00 to give the buyer the impression, they are getting a good deal.
A. Premium pricing B .Optional pricing
C. Psychological Pricing D. Price Discrimination
19. Which pricing strategy involves setting prices based on competitors’ strategies, costs, prices and
market offerings?
A. Premium pricing B .Optional pricing
C. Psychological Pricing D. Competitive pricing
20. Fast food restaurants such as McDonalds use this pricing strategy for selling combos of burgers,
fries and a beverage at a lower price than the total price of the items sold individually. This is an
example of:
A. Premium pricing B . Bundling pricing
C. Psychological Pricing D. Competitive pricing
21. This is any form of communication a business or organization uses to inform, persuade, or remind
consumers about its products or services.
A. Product B. Price C. Promotion D. Place
22. Many businesses use Facebook, Twitter, YouTube, or Instagram to communicate with customers.
This is referred to as:
A. product seeding B. viral marketing C. social media marketing D. guerrilla marketing
23. This is anything offered to a market by the business to satisfy needs, could include a physical good
or an intangible service.
A. Product B. Price C. Promotion D. Place
24. The employees who interact with customers, require training, motivation and communication are:
A. People B. Price C. Promotion D. Place
25. This element of market mix refers to the tangible good or the intangible service that the enterprise
offers to its customers in order to satisfy their needs and to produce their expected results.
A. Product B. Price C. Promotion D. Place

II. Classification
Direction: Classify each of the following costs as fixed or variable. Write F in the blank if the statement is
fixed and V for variable.
________________1. Salary of marketing officer
________________2. Raw materials
________________3. Other supplies in production
________________4. Salary of production personnel who get paid based on quantity of output
________________5. Expense of the building
________________6. Packaging materials
________________7.Utilities (light, water, gas) in the production department
________________8. rental payments
________________9. commissions
________________10. interest payments.

III. True or False


Direction: Read the statements carefully and tell whether the statement is TRUE or FALSE.
Write TRUE in the blank if the statement is correct and FALSE if otherwise.

___________________1.Entrepreneurship can be learned by anyone, it’s not something that can


simply learn in a classroom.
___________________2. An entrepreneur has to have certain cultivated and inherent qualities in
order to make a success of his or her venture.
___________________3. . Hard work and determination to win have made many successful
businesspeople to reach their aspired goal.
___________________4. An entrepreneur must hesitate for personal or other reasons.
___________________5. New ideas help make a business venture successful.
___________________6. The only way to acquire the habits essential for entrepreneurs is by acting in a
way inconsistent with them.
___________________7. Entrepreneurship can improve the life of the entrepreneur only.
___________________8. Coward people will become successful entrepreneur.
___________________9. Entrepreneurs are innovative.
___________________10. Entrepreneurship is not an economic activity.

V. Essay
1. What makes being an entrepreneur unique compared to other professions or careers?
_______________________________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
__________________________________________.
Rubrics:
Score Description
5
Content is comprehensive, accurate, and persuasive. Major points are stated
clearly and are well supported.
4 Content is accurate and persuasive.
3 Content is not comprehensive and /or persuasive.
2 Content is incomplete. Major points are not clear. Specific examples are not
used.

Prepared by:
Mr.Ericson C. Ungria, Lpt
Subject Teacher

Checked by:
Mrs. Michelle C. Juguilon, Lpt
SHS Coordinator
Noted:

Mr. Sandy Aquin Lpt, MED


Assistant Principal

Mr. Leonardo A. Carrera Ll.B. MaEd


School Principal

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