CFPJ NATIONAL HIGH SCHOOL

SUMMATIVE EXAM 1 - ENTREPRENEURSHIP

Name: ____________________________________ Date: ________________ Score: _______

FILL IN THE BLANKS: Complete the statements below and write your answers on the space provided
(2 points each)
1. Machine discusses about the ____________________ used in the production of goods or delivery of
services.
2. _________________ measured as the most serious and main factor of production.
3. The purpose of product description is to ________________________ with details around the
features and benefits of the product so they’re obliged to buy.
4. It is better to test the product __________________ to meet customers’ needs and expectations.
5. __________________ are the persons who will buy the product or services.
6. Business plan is an important tool for you to have an ________________ about the future of your
business.
7. After developing business model, we will proceed in developing a _________________________.
8. The development of business model construction and variation is also called _________________
and forms a part of business plan.
9. Your brand is one of the greatest ______________ because your name is your customers overall
experience of your business.
10. Competitive analysis is the strategy where you identify ________________________ and research
their products, sales and marketing strategies.

ESSAY: Read each statement and discuss what is being asked.

1. The most serious issues in the whole production system are the inputs and information process.
What are the four (4) factors involved in the input and production process to determine the quality
of the output? Give your insights about each factor.
2. Discuss the four (4) components found in a Business plan.

“Entrepreneur is someone who has a vision for something and a want to create.”
– David Karp, founder and CEO Tumblr

Prepared By: Norigay B. Gallardo Noted By: Violeta B. Saguiguit

 Subject Teacher MT1, TIC

I. Fill in the blanks

1. Manufacturing Equipment
2. Manpower
3. Product Description
4. Prototype
5. Market
6. Idea
7. Business plan
8. Business model innovation
9. Assets
10. Major competitors
II.

Answers may vary