POST TEST QUESTIONS

Entrepreneurship

1. Entrepreneurs are motivated by

a. money.
b. personal values.
c. pull influences.
d. All the above.

2. It is the concepts of entrepreneurship:

a. Business
b. Buy and Sell
c. Stocks and Demand
d. All of the above.

3. What is the purpose of market research in marketing?

a. To identify potential customers
b. To analyze competitors
c. To understand consumer needs and preferences
d. All of the above

4. Which entrepreneurial traits gives an entrepreneur a positive outlook in lide which give the
energy to pursue his/her endeavors?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm

5. With which trait is an entrepreneur able to withstand the troubles that come with a starting
business?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm

6. Which of the following best defines entrepreneurship?

a. The process of working for a large corporation.
b. The act of starting and running a new business venture.
c. The practice of investing in the stock market.
d. The act of managing a nonprofit organization.

7. Its process is identifying and developing business plan.

 a. Entrepreneur
b. Entrepreneurship
c. Business planning
d. Business

8. What is the role of market segmentation in marketing?

a. To divide the market into distinct groups with similar characteristics
b. To target specific customer segments with tailored marketing strategies
c. To enhance the effectiveness of marketing campaigns
d. All of the above

9. It is the importance of recognition of identifying market gaps and understanding customer

needs.
a. Opportunity Recognition
b. Business Planning
c. Legal Planning
d. Financial Management

10. Which of the following is an example of a marketing channel?

a. Television advertisement
b. Social media platform
c. Retail store
d. All of the above

11. Which types of marketing functions enables the actual flow of commodities through space and
time producers to consumer and their transformation to desirable to the consumer?
a. Specific functions
b. Exchange functions
c. Physical functions
d. Facilitating functions

12. From a societal view point, which of the following statements about marketing objective is NOT
true?
a. Assist in the efficient allocation of resources
b. create wealth and promote economic growth
c. improve income distribution among different sector of the economy
d. Maintain instability of supply and demand for marketed goods

13. Which is considered a vehicle for information target market about the enterprise and the
products or services?
a. Product
b. Price
c. Place
d. Promotion
14. At the stage of marketing effort does an entrepreneur concentrate on targeting a new market of
buyer and talking market share from competitions by price cutting or relaunching the product?
a. introduction
b. growth
c. place
d. decline

15. Which of the following is NOT appropriate in running a small-scale business?

a. Keeping clear records
b. Verifying profit and loss
c. Managing cash flow
d. Distribution channel

16. When marketing channel operates with capital owned directly by the operators and their
partners. Or in some cases by shareholders?
a. Co-operatives
b. Independent, locally based private enterprise
c. Marketing board and other state enterprises
d. Transitional companies

17. At which stage of product life cycle must an entrepreneur whether s/he want to try to
rejuvenate the product by inventing in development and aggressive marketing or to quietly
admin and exit the market?
a. Introduction
b. Growth
c. Place
d. Decline

18. A marketing mix can have both tangible and intangible aspects and is the thing you offer to
satisfy you customer wants and needs is ______.
a. product
b. packaging
c. price
d. promotion

19. 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

20. It is an analysis used in opportunity recognition.

a. SWOT Analysis
b. PEST Analysis
 c. CATWOE Analysis
d. MOST Analysis

21. The components of a successful business plan, including the executive summary, company
description, market analysis, marketing strategy, operations plan, financial projections, and
management team.
a. Opportunity Recognition
b. Business Planning
c. Legal Planning
d. Financial Management

22. Which of the following statements best describes a single proprietorship?

a. A business owned and operated by multiple individuals.

b. A business owned and operated by a single individual.

c. A business owned and operated by a government entity.

d. A business owned and operated by shareholders.

23. What is the main advantage of a single proprietorship?

a. Limited liability for the owner.

b. Ability to raise substantial amounts of capital.

c. Ease of formation and minimal legal requirements.

d. Access to specialized management skills.

24. Which of the following statements is true about the taxation of a single proprietorship?
a. The business itself is subject to separate taxation.
b. The owner's personal income is not taxed.
c. The owner is personally liable for all business taxes.
d. The business is taxed at a lower rate than other business structures.

25. Which of the following is a potential disadvantage of a single proprietorship?

a. Limited access to capital.
b. Shared decision-making among owners.
c. No personal liability for business debts.
d. Limited ability to hire employees.

26. In a single proprietorship, who bears the responsibility for the business's debts and obligations?
a. The customers and clients of the business.
b. The employees of the business.
c. The government.
 d. The owner of the business.

27. What is a key characteristic of successful entrepreneurs?

a. Avoiding risks and maintaining stability.
b. Relying solely on existing business models.
c. Embracing uncertainty and taking calculated risks.
d. Preferring routine and resisting change.

28. What is a common challenge faced by entrepreneurs?

a. Lack of creativity and innovation.
b. Limited financial resources and access to capital.
c. Over-reliance on market trends and competitors.
d. Resistance to change and adaptation.

29. What is the primary purpose of funding for a business or organization?

a. To generate profit
b. To support research and development
c. To cover operational expenses
d. To expand into new markets

30. Which of the following is a legal requirement for starting a business in the Philippines?
a. Registering the business with the Securities and Exchange Commission (SEC)
b. Opening a bank account for the business
c. Acquiring a business permit from the local government
d. All of the above

31. Which type of intellectual property protection is granted to inventions and provides exclusive
rights to the inventor for a limited period?
a. Copyright
b. Trademark
c. Patent
d. Trade secret

32. Which of the following legal documents outlines the terms and conditions between a company
and its customers?
a. Articles of Incorporation
b. Bylaws
c. Non-Disclosure Agreement (NDA)
d. Terms of Service

33. Which of the following legal actions protects an entrepreneur's invention or creative work from
unauthorized use?
a. Trademark registration
b. Copyright registration
 c. Patent application
d. Non-Compete Agreement

34. What is the significance of social media marketing in entrepreneurship?

a. It provides a cost-effective way to reach a wide audience
b. It allows for direct engagement with customers
c. It can help build brand awareness and loyalty
d. All of the above

35. What does DTI stand for in the context of entrepreneurship?

a. Department of Technical Innovation
b. Department of Trade and Industry
c. C) Division of Technology and Innovation
d. D) Directorate of Trade and Investments

36. What is the role of DTI (Department of Trade and Industry) in entrepreneurship?
a. Providing financial support to entrepreneurs.
b. Offering business advisory and consultation services.
c. Enforcing regulations and ensuring fair trade practices and facilitating access to markets
and promoting trade.
d. All of the above.

37. Key components of a marketing strategy are the following, EXCEPT:

a. Market research
b. Segmentation
c. Targeting
d. Planning

38. What is the definition of marketing in entrepreneurship?

a. Selling products or services to customers
b. Creating awareness about a product or service
c. Advertising on social media platforms
d. All of the above

39. Which of the following is not a component of the marketing mix?

a. Product
b. Profit
c. Price
d. Promotion

40. What is the main goal of branding in marketing?

a. To increase sales
b. To build customer loyalty
c. To create brand awareness
 d. All of the above

41. What is the purpose of a marketing plan in entrepreneurship?

a. To outline marketing objectives and strategies
b. To allocate resources for marketing activities
c. To provide a roadmap for reaching target customers
d. All of the above

42. Which of the following best describes the term "sales" in entrepreneurship?
a. The process of acquiring funding for a startup
b. The act of marketing and promoting products or services
c. The legal documentation required to establish a business
d. The management of financial transactions within a company
43. Innovation can best be defined as
a. the generation of new ideas.
b. the evolution of new ideas.
c. the opposite of creativity.
d. the successful exploitation of new ideas.

44. The importance of regularly monitoring and reviewing financial performance.

a. Financial management
b. Budget management
c. Budget planning
d. Financial planning

45. The following are basics of financial management, EXCEPT:

a. Budgeting
b. Cash flow management
c. Financial projections
d. Financial planning

46. What is the primary difference between leadership and management?

a. Leadership focuses on vision and inspiration, while management focuses on execution
and control.
b. Leadership is about maintaining order and structure, while management is about
motivating and inspiring others.
c. Leadership and management are essentially the same and can be used interchangeably.
d. Leadership is about making decisions, while management is about implementing those
decisions.

47. What is the primary difference between leadership and management?

a. Leadership focuses on vision and inspiration, while management focuses on execution
and control.
 b. Leadership is about maintaining order and structure, while management is about
motivating and inspiring others.
c. Leadership and management are essentially the same and can be used interchangeably.
d. Leadership is about making decisions, while management is about implementing those
decisions.

48. What is the primary difference between leadership and management?

a. Leadership focuses on vision and inspiration, while management focuses on execution
and control.
b. Leadership is about maintaining order and structure, while management is about
motivating and inspiring others.
c. Leadership and management are essentially the same and can be used interchangeably.
d. Leadership is about making decisions, while management is about implementing those
decisions.

49. Which of the following statements is false?

a. Market segmentation is a useful process for small businesses to undertake.
b. Selling is essentially a matching process.
c. A benefit is the value of a product feature to a customer.
d. It is a good idea for small businesses to compete solely on price.

50. The purpose of all good small business strategy is

a. To increase turnover.
b. To increase profitability.
c. To achieve competitive advantage.
d. To achieve stated objectives.
 ANSWER KEY

1. D 41. D
2. D 42. B
3. D 43. D
4. B 44. A
5. A 45. D
6. B 46. A
7. B 47. B
8. D 48. A
9. A 49. D
10. D 50. D
11. C
12. D
13. C
14. C
15. C
16. D
17. A
18. D
19. A
20. A
21. B
22. B
23. C
24. D
25. D
26. D
27. C
28. B
29. C
30. D
31. C
32. D
33. B
34. D
35. B
36. D
37. D
38. D
39. B
40. D