Department of Education

National Capital Region

Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Cor. A. Bonifacio Avenue, Ricahuerta Street, Upper Bicutan, Taguig City
Entrepreneurship
EXAM REVIEWER
Directions: Read and understand each statement carefully. Choose the letter of the correct answer.

1. This means that entrepreneurship can lift up A. Development of Managerial Capabilities

the economic status of an individual. B. Persuasion
2. They are those who don’t create new things C. Economic and Dynamic Activity
but only follow the ideas of other entrepreneurs. D. Core: Innovative
3. The word “entrepreneur” was derived from the E. Fabian Entrepreneurs
French verb which means “to undertake.” F. Innovative Entrepreneurs
4. This means an entrepreneur can retain good G. Improving Standard of Living
relations with other people. H. Personality Factor: Risk-taker
5. An entrepreneur must have the ability to be the I. Communicator
first to see business chances. J. Competency: Proactive
6. They are those who live on the labor of others. K. Means of Economic Development
They are die-hard conservatives even ready to L. Problem Solver
suffer the loss of business. M. Opportunity seeker
7. The entrepreneur has big business ideas and he does N. Leader
not stop improving and thinking of new worthwhile O. Profit Potential
ideas for his business. P. Competency: Innovative
8. This means that one of the benefits an entrepreneur Q. Personality: Proactive
gets is to develop his managerial skills. R. Competency: Risk-Taker
9. An entrepreneur makes plans before doing things S. Creation of Organizations
and does not fail to monitor it. T. Imitating Entrepreneurs
10. An entrepreneur must have the charisma to be U. Social Entrepreneurs
obeyed by his employees. V. Risk-Bearing
11. An entrepreneur will pursue things to get done W. Decisive
regardless of challenges X. Perseverance
12. The entrepreneur can be compensated by his profit Y. Drone Entrepreneurs
coming from the operation. Z. A Planner
13. The entrepreneur needs to gamble but wise enough
to offset the risk.
14. An entrepreneur must have a convincing power.
15. This means that because of entrepreneurship many
organizations will exist.
16. This means that not only the life of the entrepreneur is
improved but also the society where the business
is located.
17. This means that he can entice people to buy even if
they don’t want to
18. An entrepreneur can control a situation by making
things happen or by preparing for possible future
problems
19. They are those who initiate changes and drive social
innovation and transformation in the various fields
such as education, health, human rights, environment
and enterprise development.
20. This means that he is willing to gamble but he will
calculate it first
21. Entrepreneurship is an economic activity because
it involves the creation and operation of an enterprise
with a view to creating value or wealth by ensuring
optimum utilization of limited resources
22. This means he can classify opportunities and seize it
23. They are skeptical about changes to be made in the
organization. They don’t initiate but follow only
after they are satisfied
24. They are those who always make new things by
thinking of new ideas. They have the ability to think
newer, better and more economical ideas
 MIND FRAME ECONOMIC FORCES COMPETITION PEOPLE’S INTEREST BUYERS

EXTERNAL CUSTOMERS RIVALRY AMONG GOVERNMENT’S HEART FLAME

ENVIRONMENT EXISTING FIRMS THRUST, PROGRAMS
AND POLICIES

POLITICAL FORCES SOURCE: SUPPLIERS SUBSTITUTE CREDITOR POTENTIAL NEW

PRODUCTS ENTRANTS

COMPETITORS TECHNOLOGICAL FORCE: SUPPLIERS EMPLOYEES SOCIOCULTURAL

DISCOVERY AND FORCES
ADVANCEMENT

GOVERNMENT PAST EXPERIENCES GUT GAME COMPETITORS CHANGES IN THE

ENVIRONMENT

Directions: Choose the proper answer from the box of choices given above.

25. This allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation.
26. Refers to the physical environment, societal environment, and industry environment where the business
operates.
27. Entrepreneurial ideas arise when changes happen in the external environment.
28. Existing entrepreneurs in the same market that play a key role in the fluctuation in one’s own business and
others.
29. Businesses, companies and organizations that sell or provide necessary materials and resources for other
businesses
30. Individuals hired or available for hire for a company/organization.
31. It is the act or process of trying to get or win something.
32. The ones who pay cash in exchange for your goods and services.
33. The one that provide something that is needed in business operations such as office supplies and equipment.
34. This refers to the ability of the entrepreneur of being intuitive.
35. Defined as companies or businesses that have the ability to penetrate or enter into a particular industry.
36. The expertise and skills developed by a person who has worked in a particular field may lead to the opening of a
related business enterprise.
37. The priorities, projects, programs, and policies of the government are also good sources of ideas.
38. The available target population in the market where an entrepreneur can derive a batch of individuals primed
for their products and services.
39. Companies or firms that can either be a business, an individual or organization that is available for lending
money for other entrepreneurs
40. Includes all the laws, rules, and regulations that govern business practices as well as the permits, approvals, and
licenses necessary to operate the business.
41. Customs, lifestyles and values that characterize a society.
42. Entrepreneurs are driven by passion; they are attracted to discover satisfaction in the act and process of
discovery.
43. Factors such as income level and employment rate.
44. The ruling and legal body responsible for a certain location, place, nation, community or country.
45. A person with entrepreneurial interest sees the possibility of business opportunities in any new discovery or
because of the use of latest technology.
46. The interest, hobbies, and preferences of people are rich sources of entrepreneurial ideas.

Directions: Encircle the letter of the Best Answer

47. A business or marketing statement that summarizes why a consumer should buy a company’s product or use its
service.
a. Value Proposition C. Unique Selling Proposition
b. Target Market D. Customers
48. As an entrepreneur, you must be able to divide the market in order to narrow down and determine the best
possible combinations of characteristics your target market has
a. Target Market c. Customer Requirements
b. Segmenting d. Market Research
49. Allows an entrepreneur to focus their marketing money and brand message on a specific market that is more
likely to buy from their business than other markets
a. Target Market c. Customer Requirements
b. Segmenting d. Market Research
50. The specific characteristics that the customers need from a product or a services.
a. Target Market c. Customer Requirements
b. Segmenting d. Market Research
51. Characteristic specifications that a consumer expects to be fulfilled in the product
a. Customer Requirements c. Output Requirements
b. Service Requirements d. Prospect Customers
52. Market segment that an entrepreneurial venture intends to serve.
a. Customer Requirements c. Output Requirements
b. Service Requirements d. Prospect Customers
53. The size of the arena where the entrepreneurs will play their business.
a. Market Research c. Target Market
b. Market Size d. Market Arena
54. One of the most reliable and credible ways of getting relevant information from target customers.
a. Survey c. Interview
b. Focus Group Discussion d. Inquiry
55. An excellent method for generating and screening ideas and concepts. It can be moderated group interviews
and brainstorming sessions that provide information on users’ needs and behaviors
a. Survey c. Interview
b. Focus Group Discussion d. Inquiry