Republic of the Philippines

Department of Education
National Capital Region
Schools Division Office of Quezon City
2th Quarter Examination
ENTREPRENEURSHIP
SY: 2023-2024

Test I. Product Development

Directions: Read each question carefully and choose the letter of the best answer. Write the letter that corresponds to
your answer on a separate sheet of paper.

1. Which one of the following best describes the product development process?
A. the strategy process for original product
B. work achieved by a company's research and development department
C. recognize opportunities in the marketplace create and test products to take advantage of those opportunities,
and then present the products to the market.
D. None of the above

2. Product development starts with

A. Idea generation B. Idea selection C. Product Testing D. None of the above

3. The components of a product or service offer include:

A. customer benefits, attributes or features, warranty, and potential benefits.
B. core benefits, attributes or features, support and services, and potential
C. core benefits, attributes or features, support and services, and customer loyalty programs.
D. None of the above

4. A brand must offer which one of the following to have a value?

A. Consistency B. Modest Product C. Multifaceted Product D. None of the above

5. What is a target audience?

A. The people who will not buy your item
B. The possible customers of your product
C. The people who have no idea of your company
D. None of the above

6. What is a feature?
A. A movie B. A newspaper C. Specific particulars regarding a product D. None of the above

7. An eye-catching idea must be developed into a _

A. Product idea B. Product concept C. Product strategy D. None of the above

8. The following is a must in developing a product

A. Research B. Customer’s feedback C. All of the above D. None of the above

9. Designs are modified in order to

A. Improve the product B. Increase income C. All of the above D. None of the above

10. What is the primary benefit of the coat?

A. Brand B. Cost C. Warmth D. None of the above

Test II. 4M’s of Operation

Directions: Read each question carefully and choose the letter of the best answer. Write the letter that corresponds to
your answer on a separate sheet of paper.

11. What is the asset and the most significant factor in the production?
A. Machine B. Method C. Manpower D. None of the above

12. What is the equivalent term of Process in 4Ms?

A. Material B. Machine C. Method D. None of the above

13. Which one does not belong to 4Ms?

A. Method B. Marketing C. Manpower D. None of the above
14. Which of the following is not considered as qualification of the employee?
A. Work experience B. Curriculum Vitae C. Educational Background D. None of the above

15. What is the equivalent term of People in 4Ms?

A. Material B. Machine C. Manpower D. None of the above

16. What is the term that controls the implementation of the business plan?
A. Business Operation B. Bottleneck C. Distribution Method D. None of the above

17. What is recruitment?

A. Hiring staff B. Training staff C. Rewarding staff D. None of the above

18. What purpose of job description classified as specific?

A. Job Title B. Job Duties C. Sub Tasks D. None of the above

19. Which of the following factors reflected by the entrepreneur to accept the risks in business?
A. Time B. Effort C. All of the above D. None of the above

20. What is the term for selecting suppliers and purchasing things?
A. Outsourcing B. Distribution C. Procurement D. None of the above

Test III. Develop the Business Model

Directions: Read each question carefully and choose the letter of the best answer. Write the letter that corresponds to
your answer on a separate sheet of paper.

21. What is an assumption of your business that also contains financial projections about the business for the next 3-5
years?
A. Business Model C. Start-up costs
B. Business Plan D. Value Proposition

22. What is a high-level introduction to the company and business model?

A. Business Plan C. Objectives
B. Mission D. Vision

23. What is a high-level plan for profitably operating a business in a specific marketplace?
A. Business Model C. Start-up costs
B. Business Plan D. Value Proposition

24. What is defined as a description of the goods or services that a company offers and why they are desirable to
customers or clients, ideally stated in a way that differentiates the product or service from its competitors and the
primary component of the business model?
A. Business Model C. Start-up costs
B. Business Plan D. Value Proposition

25. What is the term given for the description of the different types of customers to be targeted and their pain points?
A. customer targets and challenges C. Pricing
B. go-to-market D. Value

26. What refers to a company's plan for making a profit. It identifies the products or services the business plans to sell,
its identified target market, and any anticipated expenses?
A. Business Model C. Start-up Costs
B. Business Plan D. Value Proposition

27. What channels that will be used to reach and sell to customers?
A. customer targets and challenges C. Star -up costs
B. go-to-market D. Value proposition

28. How the product will solve those pain points?

A. customer targets and challenges C. Pricing
B. go-to-market D. Solution

29. What is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay
a price for a specific good or service?
A. Demand C. Start-up Costs
B. Solution D. Value proposition
30. What is an aim element of the business model which is looking at a business model as a systematic way to build a
strong distribution network and a strong brand?
A. Branding and distribution C. Profitability
B. Noise and reduction D. Simplicity

Test IV. Business Forecasting

Directions: Read each question carefully and choose the letter of the best answer. Write the letter that corresponds to
your answer on a separate sheet of paper.

31. What is the cost in cost accounting estimated in advance of production or construction?
A. Expected cost C. Profit
B. Mark-up D. Profit Margin

32. What describes what the business wants to achieve, based on a set of assumptions?
A. Business Plan C. Profit
B. Demand D. Revenue

33. What is an analysis and extrapolation of this historical data to provide an indication of future performance or
demand?
A. Historical Trend Analysis C. Profit Analysis
B. Loss Analysis D. Time Series Analysis

34. What is defined as the management of money and includes activities such as investing, borrowing, lending,
budgeting, saving, and forecasting?
A. Accounting C. Human Resource
B. Finance D. Marketing

35. What is the positive gain remaining for a business after all costs and expenses have been deducted from total sales?
A. Mark-up C. Profit
B. Profit Margin D. Revenue

36. What is the value of all sales of goods and services recognized by a company in a period?
A. Mark-up C. Profit
B. Profit Margin D. Revenue

37. What is an amount that is added on top of the total product cost price?
A. Mark-up C. Profit
B. Profit Margin D. Revenue

38. What helps establish how well a certain product or service performs, or how much money it makes for the
company?
A. Mark-up C. Profit
B. Profit Margin D. Revenue

39. What is the process of estimating the future demand of a product in terms of a unit or monetary value – is a
fundamental part of supply chain management?
A. Business Plan C. Qualitative forecasting
B. Demand forecasting D. Quantitative Forecasting

40. What is an act of predicting the future economic conditions on the basis of past and present information?
A. Business Forecasting C. Qualitative forecasting
B. Demand forecasting D. Quantitative Forecasting

Test V. Implement a Simple Business

Directions: Read each question carefully and choose the letter of the best answer. Write the letter that corresponds to
your answer on a separate sheet of paper.

__41. Early planning of steps in business is a must. How are steps applied?
A. Implementation of Plan. B. Localization in the Plan.
C. Operation finishes the Plan. D. Regulation is after the Plan.

__42. Duties and Functions are done by an Owner. How does an owner do it?
A. Control, guide, lead, rule, and run the business.
B. Direct, manage, handle and conduct the business.
C. Organize, group, classify, and arrange the business.
D. Plan, organize, staff, direct and control the business.
__43. Selling strategies can be done. Which are the strategies?
A. Calling, draft, drop, bill, book, and advance strategies.
B. Cold calling, consultative, direct, and persuasive strategies.
C. Direct, candid, clear, bare, ahead, and actual basic strategies.
D. Pointed, linked, lined up, head start and guaranteed strategies.

__44. Check on customer satisfaction for repeat sales. How to do it with customers?
A. Build causal relationships.
B. Build instant relationships.
C. Build an open-term relationship.
D. Build long-term for relationships.

__45. Follow the overall plan in business. Why is this followed?

A. It is the banking way. B. It is the domestication.
C. It is the holdings for it. D. It is the implementation.
‘
46. The first few days of your business means a lot. How will you be guided?
A. Check on your plans.
B. Know that you are qualified.
C. Set your business space in place.
D. Tell the world you are in business.

47. Plan is among the management functions. How to follow this?

A. Think after doing a task.
B. Think before doing a task.
C. Think during the doing of a task.
D. Think if you can find time to do it.

48. Organize resources as one duty of management. How to do it on resources?

A. Assign buyers and customers.
B. Assign competitors and rivals.
C. Assign human and materials right.
D. Assign merchants and retailers right.

49. Staff assignment is a function of management. How to do it on manpower?

A. Count and sum up manpower.
B. Influence and rule manpower.
C. Lower and limit the manpower.
D. Select and develop the manpower.

50. Direct is a duty of management. How does it work towards the goal?
A. Get, leap and sail towards the goal
B. Go, lean and scan towards the goal.
C. Guess, line up and serve towards the goal.
D. Guide, lead, and supervise towards the goal.

-GOOD LUCK-
 2th Quarter Examination
ENTREPRENEURSHIP
SY: 2023-2024
KEY TO CORRECTION
1. C
2. A
3. A
4. A
5. B
6. C
7. C
8. C
9. A
10.C
11.C
12.C
13.B
14.B
15.C
16.A
17.A
18.B
19.C
20.C
21.B
22.A
23.A
24.D
25.A
26.A
27.B
28.D
29.A
30.A
31.A
32.A
33.A
34.B
35.B
36.D
37.A
38.C
39.B
40.A
41.A
42.D
43.B
44.D
45.D
46.A
47.B
48.C
49.D
50.D