SHORT QUIZ

Entrepreneurship
SHORT QUIZ

Entrepreneurship
Which is the end result of paying taxes? 1

a. It burdens small scale entrepreneurs.

b. It promotes competition among business
ventures.
c. It causes the increase on prices of raw
materials.
d. It returns to the citizens through
different public services.
Which of the following is not true about the 2
benefit of entrepreneurship to the local
community?

a. It provides employment.
b. It creates new demand in the market.
c. It promotes peaceful community.
d. It hastens economic failure
Which of the following does not 3
define entrepreneurship?
a. art
b. science
c. wealth creating
d. risk taking
Which of the following will be an entrepreneur's 4
reaction to risk?

a. Avoid the risk.

b. Face the risk.
c. Pause and wait for the problem to solve
itself before continuing operations.
d. Invest on other products or services.
How does an entrepreneur create value for 5
his/her products or services?
a. by increasing the price of the product or
service.
b. by giving products and service for free to
those who are in need.
c. by satisfying the needs and wants of the
customers.
d. by focusing on product packaging.
Entrepreneurship education teaches how 6
failure makes people more ________
and innovative.
a. persuasive
b. pessimistic
c. neglectful
d. creative
 Although profit is a good indication of 7
_________, improving the life of an
entrepreneur is also a priceless outcome of
entrepreneurship
a. Wealth
b. Morality
c. Determination
d. Social development
Products and services are considered valuable 8
when they satisfy the _________
of the customers
a. Needs
b. Dreams
c. Characteristics
d. Word of mouth
 9
Happens when customers share their
positive experiences with a product to
their relatives and friends.
a. Planning
b. Word of mouth
c. Publicity
d. Commitment
 Entrepreneurs create _________ by 10
introducing new products or services or
finding better ways of making them.
a. New ideas
b. Craftmanship
c. Innovations
d. Marketing Strategies
The ability to think quickly and make a wise 11
judgment towards the pre-determined set
objectives.
a. Commitment
b. Initiative
c. Decisiveness
d. Creativity
When a person has the urge to fight and win 12
over temptation, he or she has
________________.
a. Self-discipline
b. Self - confidence
c. Initiative
d. Integrity
 The ability to build harmonious 13
relationship with customers and
employees is best exhibited by:
a. Planning skills
b. People skills
c. Decision making skills
d. Initiative
 Which of the following is NOT a 14
contribution of entrepreneurship to
the local community?
a. boosts constructive competition.
b. gives birth to new business opportunities.
c. aids in improving financial
and social life.
d. produces new demand in the market.
Which of the following statements 15
is INCORRECT?
a. Entrepreneurship is an art.
b. Small businesses boost constructive
competition
c. Decision making is a personal
entrepreneurial competency.
d. Doing business is not a one-man
team endeavor.