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- 1. Multiple Choice
Which personal characteristic of entrepreneurs reflects the one who make their own decisions, set their own schedules, and can work without supervision?
Self-Confident
Risk-Takers
Independent
Goal-Oriented
- 2. Multiple Choice
Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are accountable for their actions?
Creative
Persistent
Responsible
Self-Confident
- 3. Multiple Choice
What quality that constantly, regularly, or habitually engaged in earnest and energetic work?
Opportunity seeking
Coping with failure
Hard working
- 4. Multiple Choice
What do you call a character trait of being flexible and has belief in the company to overcome problems or accidents of the business world?
Coping uncertainty
Coping with failure
Hard working
- 5. Multiple Choice
Which of these characteristics you must learn to deal with frustrations and losses and turn these into productive learning experiences?
Coping uncertainty
Coping with failure
Hard working
- 6. Multiple Choice
What PECs must she possess if there are customers who complain about the quality of her product?
Patience
Hardworking
Versatile
Risk taker
- 7. Multiple Choice
Which of the following is NOT considered as a characteristic of an entrepreneur?
Copes with failure
Dependent
Persistent
Opportunity seeker
- 8. Multiple Choice
If she wants to ensure a profitable business operation, what characteristic will she maintain?
Commitment
Goal oriented
Futuristic
Opportunity seeker
- 9. Multiple Choice
Mrs. Magno follows the advice of a friend to be flexible especially if she intends to open a retail business. What PECs has been demonstrated by Mrs. Magno?
Self- confidence
Responsive to feedback
Reliable and has integrity
Persistent
- 10. Multiple Choice
She tells Mary, her best friend that she has a strong will and does not give up to find a solution to a business problem. What PECs has been demonstrated by Mrs. Magno?
Hard work
Persistence
Self-confidence
Risk- taking
- 11. Multiple Choice
Which of the following techniques does NOT strengthen one’s PEC’s?
Always project strong and well balanced behavior.
Avoid being too passive or aggressive.
Be responsible in everything you do
Demonstrate negative attitude to achieve a desired goal
- 12. Multiple Choice
Andeng has a strong faith in her ability despite the problems that she encountered along her way. What characteristic did she possess?
Commitment
Hardworking
Persistent
Self-confidence
- 13. Multiple Choice
Andeng has a strong faith in her ability despite the problems that she encountered along her way. What characteristic did she possess?
Commitment
Hardworking
Persistent
Self-confidence
- 14. Multiple Choice
Why is there a need to assess ones personal characteristics, attributes, lifestyles, skills and traits?
Because as an individual, we need to understand our strengths and weakness by knowing our personal characteristics
Because as an individual is equally important to know oneself
Because this is the right way
Because our teacher told us to do so
- 15. Multiple Choice
Listing people and businesses who might give money to start the business, completing an application for a business loan at the bank, and advertising for people to work in the new business are all classified to which stage of the entrepreneurial procedure?
Actualization
Resourcing
Concept Development
- 16. Multiple Choice
Emma and Ivy are considering beginning a jewelry-making business. They have been collecting, reviewing, and interpreting the surveys they distributed last week about their business idea. Emma and Ivy are in what stage of the entrepreneurial process?
Harvesting
Concept Development
Discovery
- 17. Multiple Choice
What could cause a new business to not be able to keep up with the demand for its new service?
Lack of a good advertising campaign
Failure to pay taxes for the new business
Shortage of trained employees
Failure to apply for a loan or a grant
- 18. Multiple Choice
What are the things that add comfort and pleasure to your life?
Wants
Goods
Services
Needs
- 19. Multiple Choice
What are the things that you can see and touch?
Services
Goods
Needs
Wants
- 20. Multiple Choice
The people who produce goods and services are known as?
Manufactures
customer
Laborers
- 21. Multiple Choice
Which of the following is not considered people’s Basic Needs?
Food
Shelter
Clothing
Recreations
- 22. Multiple Choice
Which of the following is a NEED?
Cat
bike
food
Roller skates
- 23. Multiple Choice
Which of the following statements about needs is TRUE?
Needs are easy to distinguish from wants.
Needs are inherited, not learned.
Needs are our personal requirements.
Needs are not instinctive.
- 24. Multiple Choice
Which statement about wants is correct?
Wants are our personal requirements.
Wants are our professional requirements
Wants are both personal and professional requirements
Wants are desired things or experiences with little relationship to needs
- 25. Multiple Choice
Which of the following statement is not true about generating business?
Travelling opens your eyes to the plethora of potential business ideas
Do not involve customers in the process of generating business
Brainstorming can be a powerful tool for rapid idea generation
Exploring old ways of business can help you in generating business ideas
- 26. Multiple Choice
Mr. Thong plans to put a “digi-print” studio in their locality. Which of the following will help him determine a successful plan for setting up of his business?
Survey of consumer associations
Getting feedback on the quality of service
Checking for similar business to avoid competition
Conduct a SWOT analysis
- 27. Multiple Choice
Which of the following should be considered first by a prospective entrepreneur in choosing the right location for his/her store?
Types of merchandise
Access of the target customers
The attractiveness of the store layout
The prevailing prices of goods in the area
- 28. Multiple Choice
How does one determine the product to be produced or services to be offered and delivered to the target market or customers in a particular community?
Basic Commodities and Age Bracket
Trend
Location
quality of products
- 29. Multiple Choice
Why is it important for companies to evaluate managerial decisions using a SWOT Analysis?
It analyzes strengths, weaknesses, obligations, and threats
It analyzes strong points, weak points, opportunities, and threats
It analyzes strengths, weaknesses, opportunities, and threats
It analyzes strengths, weaknesses, opportunities, and time
- 30. Multiple Choice
Jessica has just conducted a SWOT analysis of her firm. What should her next steps be?
Making sure that weaknesses are offset by the strengths and threats are turned into opportunities.
Making sure that weaknesses are offset by opportunities and threats are turned into strengths.
Making sure that strengths are offset by weaknesses and opportunities and turned into threats.
Making sure that opportunities are offset by threats and strengths are turned into weaknesses.
- 31. Multiple Choice
Which of the following SWOT elements are internal factors for a business?
Strengths and Weaknesses
Opportunities and Threats
Strengths and Opportunities
Weaknesses and Threats
- 32. Multiple Choice
Which of the following could be a strength?
Weather
A new international market
A price that is too high
The location of a business
- 33. Multiple Choice
Which of the following could be a weakness?
A developing market such as the Internet
Competitors with access to better channels of distribution
Poor quality of goods and services
Special marketing expertise
- 34. Multiple Choice
Which of the following could be an opportunity?
Having quality processes and procedures
Moving into new market segments that offer improved profits
Damaged reputation
A new competitor in your home market
- 35. Multiple Choice
What is SWOT stands for?
Strength , Weakness, Options and Trust
Stability , Weakness, Opinion and Traits
Strength, Weakness, Online availability, and Treatments
Strength, Weakness, Opportunities and Threats
- 36. Multiple Choice
Which of the following is true about preparing a SWOT Analysis?
It should focus on where the organization is today, not where it could be in the future.
A SWOT Analysis is objective
It should be specific and avoid grey areas
It should analyze the organization only and ignore the performance of competitors.
- 37. Multiple Choice
Who usually conducts a SWOT Analysis for a business?
Teachers
Lawyers
Employees
Managers
- 38. Multiple Choice
Which of the following is FALSE regarding why a SWOT Analysis is used?
To build on the strengths of a business
To minimize the weaknesses of a business
To reduce opportunities available to a business
To reduce threats to a business
- 39. Multiple Choice
Which of the following is the first step in making a correct location choice?
Develop location alternatives
Decide the criteria for evaluating location alternatives
Evaluate the alternatives
Make a decision and select the location
- 40. Multiple Choice
Which of the following is NOT a reason as to why infrastructure is important when choosing a location?
Access for consumers
More efficient transportation
Cheaper advertising costs
High quality communication network
- 41. Multiple Choice
The following statement tells us how to examine the existing goods and services except one.
Identify problems of a business venture
Enhance the existing products or services
Continue the product and services with negative feedbacks
Make a survey on how services and goods be improved
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