Final Examination in

Home Economics (HE) Literacy (TVTED TLE IC 226)

2nd Semester S.Y. 2020-2021

Name: ________________________________________________Course & Year: ___________

Date: _________________ Score: ________________
Test I. Multiple Choice

Direction: Read and analyze the given questions carefully. Choose the best answer to each question and
write the letter of the correct answer on the space provided before the number.

BEST OF LUCK AND GOD BLESS!

1 1. A word entrepreneur is a French origin from the word “entreprende”, which means ___________.
a) to manage
b) to organize
c) to undertake
d) to take forward

2 2. Where does the term entrepreneur or entrepreneurship originated?

Africa
Rome
France
Europe

3. An ____________ is an agent of change and is someone who organizes, manages, and assumes the
risks of a business or enterprise.
enterprise
entrepreneur
entrepreneurism
entrepreneurship

4. It is now prevalent in various professions from education, engineering, law, and other areas of
orientation, including those who never had any formal schooling in business education.
enterprise
entrepreneur
entrepreneurism
entrepreneurship

5. Who is the author that defined entrepreneur by dissecting the word entrepreneur into three parts as
follows: Entre, Pre and Neur?

Karl Vesper
Lloyd shefsky
Albert Shapero
Jeffry Timmons
6. What does the word “Entre” mean?
before
to enter
to engage in
nerve center

7. Who has described entrepreneurship as “the ability to create and build a vision from practically nothing”
in the book entitled New Ventures Creation?

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Karl Vesper
Lloyd shefsky
Albert Shapero
Jeffry Timmons

8. Who are known and expected in the realm of entrepreneurship stand to duplicate how its former
colonizer really undertake its business?
Indios
Filipinos
Spaniards
Americans

9. Who says that that there is a scenario where the real challenge for the entrepreneuristic persons and
organizations in the so-called “borderless world” is both a challenge and opportunity?
Dr. Orcullo, Jr
Dr. Orlando, Jr
Author Albert Shapero
Professor Robert Nelson

10. On what millennium is surely a challenging and exciting world for business with entrepreneurial
orientation and has an opportunity for stretching out the limits of one’s brain.
The first millennium
The second millennium
The third millennium
The fourth millennium

11. Which of the following statement in the entrepreneurship and philippine education system is
wrong?
a. With the perennial problem on unemployment, a self-employment and livelihood opportunity for
every citizen is the cry of politicians and the unemployed.
b. It is in fact the continuing dilemma on the lack of job for everyone that entrepreneurship as self-
employment option has become popular in recent years.
A&B
None of the above

12. Which of the following is a socio-economic benefit from entrepreneurship?

Demobilizes capital
Promote employment
Provides taxes to the economy
Diminish competitive consciousness

13. How does an economy grow?

By having economic freedoms
Because of more civilized migrants that came in the Philippines
By the promotion of economic development for the growth of entrepreneurship
All of the above

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14. Which of the following development growth and theories focuses on agriculture playing the major role
in economic development?
Laissez-faire theory
Innovation theory
Ricardian theory
Kaldor theory

15. Who was introduced The Filipino First Policy favoring Philippine economic interests over American
interests?
Carlos Garcia
Corazon Aquino
Ferdinand Marcos
Ramon Magsaysay

16 What is the role of entrepreneurship in economic development?

Entrepreneurship contributes to more equitable distribution of income, therefore eases social unrest
Entrepreneurship offers an economical and faster method of distributing goods and services that
accelerates economic development
A&B
None of the above

17. In the last group theories views of economic development, which of the following includes on the
general explanations of economic development?
Economic development proceeds according to a master plan of “law of nature”
Economic development is brought by an “invisible hand”
A only
A and B

18. What theory explains that the government should play the key role in economic development?
Kaldor theory
Keynesian theory
Innovation theory
Laissez-faire theory

19. Which comes first in the steps in market research?

Planning the research
Defining the problem
Implementation
All of the above

20. Which of the following tips in evaluating ideas is INCORRECT?

Use research as a weapon against failure
Test your idea against the past only
Make sure your idea has longevity
Take risk on your idea

21. What does SWOT mean?

Strength, weaknesses, opportunity and threat
Sales, workload, obligation, task
System, wage, objective, time
All of the above

22. What is the best way to evaluate business opportunity?

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Through market research
Through qualitative research
Through quantitative research
Through experimental research

23. Why do you need to look up at other entrepreneurs?

By doing what they have done or do it even better
Basis of a good strategy
Serve as a role model
All of the above

24. This serves as the fuel that keeps the business operating. What does it referring to?
Skills
People
Capital
Materials

25. Which of the following factors on resources have to be evaluated in discovering business
opportunities?

Markets
Manpower
Machinery
All of the above

26. Self-motivated. Also known as drive and it is one of the most important personality traits of successful
entrepreneurs.

27. Experience. A primary reason why some businesses fall within a few years of start-up is lack of this.

28. Risk-taking. Entrepreneurs are known for this, they prefer tasks, which provide them some challenges
and are not afraid to take the risk.

29. Innovative. Entrepreneurs are creative. They do things in new and different ways. for example, they
create new product or services, new methods of production, new markets and new source of raw materials.

30. Patience. When one owns business, there will be times when he feels like the roof is craving in,
especially when the suppliers seem to be taking their own sweet in time of fulfilling an important order or
when a customer’s demand seems to be unrealistic.

31. Self-awareness. He knows who he is, what he is good at, and what he likes to do. He starts a
business that is based on his expertise in a specific field, and focuses on his involvement in an area he
thoroughly enjoys.

32. Courage. This is also called the willingness to take risks is a valuable trait when striving for successful
person might say something likes “I do not know how I did it; I just made a phone call and asked for the
money I need”.
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33. Confidence. The age-old philosophy of positive thinking is a major step in the direction of success. By
behaving as if one already is a success at what he does, it follows that he will be, and his customers will
believe it, too. 

34. Perseverance. One of the adages one will hear time and again when talking to entrepreneurs is this
and it is 90 percent of the battle to succeed.

35. Drive. One must believe in his goal and be determined to succeed. The successful businessperson
does not view obstacle or stumbling blocks as problem, but rather as challenge.

36. Positive thinker. Entrepreneurs has the characteristics of thinking of success and bright sides.

37- 44. Enumerate Eight Socio Economic Benefits from Entrepreneurship

45-49. Enumerate the 5 steps in market research

50-54 pts essay about martial law

55-60

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