INDIVIDUAL TAKE HOME ASSIGNMENT

QUESTION ONE: Circle the most correct answer from the given alternatives per each question
as listed hereunder;
1. Entrepreneurship can be simply defined as:
A) Act of starting a profitable business by managing it for profit
B) Doing opportunity around for making profit
C) Act of identifying an opportunity and run it successfully for profit making
D) All of the above
E) C is the best answer not A and B.
2. Entrepreneurs are best characterized as
A) Dynamic leader
B) Good managers
C) All of the above
D) B is answer not A
E) Hard to get along with
3. Although the term entrepreneur is generally used to describe people who are self-employed:
A) Being an entrepreneur is not a job or a career, it is a lifestyle
B) Being an entrepreneur is exactly a job and being an entrepreneur as well
C) Being an entrepreneur is more than a job, not a career nor a lifestyle
D) Being an entrepreneur is more than a job or a career, it is a lifestyle
E) Being an entrepreneur is exactly a job and a lifestyle as well
4. One of the following is correct set of resources for entrepreneur
A) Money, skills, time, labour and market
B) Knowledge, equipment, business idea, house and money
C) Money, skills, knowledge, tools and experience
D) Money, skills, equipment, labour and land
E) My answer is............
5. A person who works for himself or herself in profitable business instead of working for
others is known as:
A) Self-employer
B) Self employed
C) Self-worker
D) Self-business man
E) Uncooperative worker
6. One of the following is incorrect set of factors that categorize Enterprises
A) Capital and market
B) Investment and employee
C) Sales turnover and capital
D) Market share and capital
E) A and B are answers but not C
7. Information will be regarded as valuable if it entertains or help you making decisions
 A) Not True but I think so.
B) True but not so sure
C) NOT, only if it makes others make decisions
D) True, but also if it makes others make decisions
E) C and D are answers
8. Positive factor within the control of entrepreneur
A) Strength
B) Weakness
C) Opportunity
D) Threat
E) SWOT analysis
9. Successful entrepreneurs will be able to identify
A) Ideas to make money
B) Ideas that are not feasible
C) Ideas that will win for customers
D) Workable ideas for implementation of business.
E) Business ideas that are suitable for him or her.
10. Mr. Abdulatif sold his two bucket of oranges at TZs.30,000/= that he bought from Ms. Ester at
Tzs 10,000/= per each. Then Mr. Abdulatif incurred a cost of 3,000 for transportation and other
expenses. How much profit he made after his sales?
A) 7,000
B) 34,000
C) 17,000
D) 4,000

QUESTION TWO: Fill in the blanks by writing the correct answers

11. A study on the differences between successful entrepreneurs and unsuccessful ones operating
in the same environment is known as; …………………………………………………….
12. Describe the characteristics from the following explanations: …………………………….and
………………………………..
 Uses deliberate strategies to influence or persuade others into your business, AND
 Uses key people as agents to accomplish own objectives in the business
Business Information is a vital tool for ……………………. in day to day activities of the
business
13. The internal factors of the SWOT analysis are; A)………………….. and ……………………
while external factors are; B) …………….. and ……………….
14. Creativity can be defined as
………………………………………………………………………………………..
15. ……………………………………… is an independent business, managed by its owner or
part-owners and having a small market share.
 QUESTION THREE: MATCHING ITEMS: Match the items by reading the questions from
list A and finding the suitable answer from list B.
LIST A LIST B
16. Risk taking i. Income variation
17. Market ii. Uncertainty of income
18. Self employed iii. Business concept to generate on – going income
19. Sole proprietorship iv. Business concept to generate short – term income
20. Partnership v. Willing to take precautions for desired results
21. Non - commercial vi. Willing to stop business whenever danger happens
enterprises
22. Commercial enterprise vii. A place where people buy goods and services for a given price
23. Unsteady income viii. A specific group of people in a place buying/selling goods or services
for a given price
24. Unpredictable income ix. Positive factor outside the entrepreneur’s area
25. Goods x. Positive factor within the entrepreneur’s area
26. Services xi. Intangibility
27. Business idea xii. Tangibility
28. Business opportunity xiii. Non – for profit organizations
29. Strength xiv. For profit organizations
30. Opportunity xv. See problems as opportunity
xvi. Group of people who fight for their life
xvii. Involve two or more entrpreneurs
xviii. One entrepreneur to conduct a busines
Fill your answers here below;

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

QUESTION FOUR: Write T for all correct sentences to mean they are really TRUE and F for
all incorrect sentences to mean they are really FALSE, DO NEITHER write TRUE NOR FALSE.

1. Entrepreneurship is a process that can be learned. ……………

2. Entrepreneurs possess highly specialized behavioral attributes that are distinct from those
of non-entrepreneurs. ……………
3. Access to entrepreneurial role models can be a significant factor in determining whether or
not someone will become an entrepreneur. ……………
4. There is difference between a manager and an entrepreneur. ……………
5. The entrepreneur has no significant role when the consumer is already buying the product..
……………
6. Self-employed groups are formed by the government. ……………
7. Charisma is not a key factor for entrepreneurial success ……………
8. Entrepreneurs are individuals who work alone. ……………
9. Entrepreneurs are not necessarily the best at every subject, but they have a vision and focus
in one area where they see the most potential. ……………
10. The entrepreneur does not need to know the consumer buying behavior since the market
has already been segmented ……………

QUESTION FIVE: Do you think you are an entrepreneur by any kind? Have you ever
conduct any entrepreneurial task and being successful? Share your experience with us.