1) ________ is the process of creating something new whether be it a product or service that brings value by devoting the necessary time and effort. a) Employment b) Business Creation c) Entrepreneurship d) Networking 2) Michael’s having a standard for measurement of every ingredient, is a sign of ___________________. a) Efficiency orientation b) Systematic planning c) Concern for Quality d) Commitment to work 3) Generating new ideas or innovative solutions is a sign of ___________________. a) Persuasion b) Problem solving c) Self Confidence d) Assertiveness 4) Convincing students to enroll in GAS strand instead of ABM a) Problem solving b) Assertiveness   c) Persuasion d) Self Confidence 5) As an entrepreneur, one has the ______________ to work at one’s own pace and decide on how to grow a business. a) Psychological reward b) Physical reward c) Financial reward d) Freedom 6) Consumers buy products because of ________________ that requires satisfaction. a) desire b) needs c) wants d) demands 7) ______________ is also known as the stage for love and belongingness. a) Esteem needs b) Physiological needs c) Social needs d) Safety needs 8) __________ is also known as optimum potentials of an individual. a) Physiological needs b) Self-actualizing needs c) Safety needs d) Esteem Needs 9) Mrs. Pingol works for Company XYZ and she is responsible in assessing the weakness of the company and recommend solution. What is her job position? a) Business consultant b) Business reporter c) Recruiter d) Teacher 10) Consumer’s evaluation of the purchase process is the following except ___________________. a) Convenience  b) Demographics c) Price  d) Product quality 11) The famous tip of Lucio Tan, Chairperson of Philippines Airlines a) “Dreams are free, so why limit what you are aspiring for.” b) “There is no such thing as overnight success or easy money; if you fail do not be discouraged, try again.” c) “I was born poor, but poor was not born in me.” This famous tip came from ___________________. d) “The more bitter the lesson, the greater the future success.” This famous tip came from ___________________. 12) Best quotation of Henry Sy, SM Founder a) “Dreams are free, so why limit what you are aspiring for.” b) “There is no such thing as overnight success or easy money; if you fail do not be discouraged, try again.” c) “I was born poor, but poor was not born in me.” This famous tip came from ___________________. d) “The more bitter the lesson, the greater the future success.” This famous tip came from ___________________. 13) this statement was quoted by Manny Pangilinan, chairperson of PLDT a) “Dreams are free, so why limit what you are aspiring for.” b) “There is no such thing as overnight success or easy money; if you fail do not be discouraged, try again.” c) “I was born poor, but poor was not born in me.” This famous tip came from ___________________. d) “The more bitter the lesson, the greater the future success.” This famous tip came from ___________________. 14) Tony Tan-Caktiong from Jollibee Food Corporation gave this qoutes. a) “Dreams are free, so why limit what you are aspiring for.” b) “There is no such thing as overnight success or easy money; if you fail do not be discouraged, try again.” c) “I was born poor, but poor was not born in me.” This famous tip came from ___________________. d) “The more bitter the lesson, the greater the future success.” This famous tip came from ___________________. 15) “Success is not necessarily connections, cutting corners or chamba. Success can be achieved through hard work, frugality, integrity , responsiveness to change and boldness of dream.” This famous tip came from ____. a) John Gokongwei Jr. b) Manny Pangilinan c) Tony Tan Caktiong d) Henry Sy 16) These are used in the primary production or manufacturing of goods and is very important in the business operation. a) Machine b) Material c) Manpower d) Method 17) It is the total supply of personnel engaged for a specific job or task in a workplace. a) Machine b) Material c) Manpower d) Method 18) The following are physical evidence or environment of the business except for __________________. a) Furnishings b) Lay-out c) Payment methods d) Buildings 19) _________________ is the division of the total market into smaller, relatively homogenous groups. a) Market analysis b) Market place c) Market segmentation d) Market mix 20) ______________ planning deals with determining the specific technologies, procedures and systems required to produce products or create services.  a) Product b) Process c) Facility location d) Job design

Entrepreneurship: Choose the letter of the correct answer.

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