ENTREP FIRST QUARTER REVIEW

ENTREP FIRST QUARTER REVIEW

DEFINE THE FOLLOWING TERMS

​1. Entrepreneurship

​2. MSME

​3. Microenterprise

​4. Small Enterprise

​5. Medium Enterprise

​6. Business Enterprise

​7. Social Enterprise

​8. Concepts/Size/Goals of Enterprise

​9. HDI

​

DEFINE THE FOLLOWING TERMS

10. Developed Countries

​11. Developing Countries

​12. Underdeveloped Countries

​13. Industrialized Countries

The following questions are the example of what the actual examination looks like.

​We have definition, analogy, and situational questions. (All questions are in the form of Multiple Choice)

Multiple Choice

HDI stands for?

• Human Developing Index

• How is Developed International

• Historical Development of Inter-nations

• Human Development Index

Multiple Choice

This is defined as the ability to know and provide the needed products and services of the people.

• Enterprise

• Entrepreneurship

• Customer Service

• Management

Multiple Choice

This enterprise focuses on the well-being of human and environment.

• Small Enterprises

• Business Enterprise

• Social Enterprise

• Medium Enterprises

Multiple Choice

This country is less developed economically

• Developed

• Developing

• Underdeveloped

• Industrialized

Multiple Choice

These are businesses that has less than Php 3.0 million assets and employs less than ten (10) people.

• Business Enterprise

• Social Enterprise

• Microenterprise

• Medium Enterprise

Multiple Choice

Which of the following does NOT explain entrepreneurship?

• Success of entrepreneurship only belongs to the high class society.

• It starts with a great concept for the necessity of the people.

• Involves gathering resources.

• This means being able to identify an opportunity and being able to build on it and develop it into a lucrative business.

Multiple Choice

Below are the concepts of an enterprise. Which of these does NOT belong to the choices?

• Built on an existing concept but giving rise to a new concept

• Enterprise involves an existing concept and an existing business.

• Gives opportunity only to privileged people.

• Involves a new concept.

Multiple Choice

Steve Job's the creator of iPhone and many other breakthrough inventions.

• Does not talk about the concepts of an enterprise.

• Enterprise involves an existing concept and an existing business.

• An enterprise can involve a new concept.

• Enterprise built on an existing concept but giving rise to a new concept

Multiple Choice

Jollibee which created a new business based on the existing concept of selling of hamburgers and chicken of McDonald's.

• Enterprise involves an existing concept and an existing business.

• An enterprise can involve a new concept.

• Does not talk about the concepts of an enterprise.

• Enterprise built on an existing concept but giving rise to a new concept

Multiple Choice

What is the best definition of entrepreneurship?

• Ability to be able to know what products and services are needed by people and to be able to provide these things at the right time, at the right place, to the right people and at the right price.

• An act of starting a business for profit.

• Involves introducing something new or novel that will become a good or service that has commercial value.

• An opportunity to build and developed business easily.

Multiple Choice

Entrepreneurship is a constant process. It relies on which of the following?

• creativity, innovation, and profit

• The ability to win over the consumer

• Creativity, innovation, and application in the marketplace

• Intellectual property rights

Multiple Choice

Mavi is thinking of expanding her Botique. Opening a new branch is the risked she is willing to take. She wanted to build it in her mother’s hometown.

• enterprise can involve a new concept

• built on an existing concept but giving rise to a new concept

• involves an existing concept and an existing business

• closemindedness

Multiple Choice

Hazel and Roberto Cabe managed a one-hectare banana plantation in the municipality of Quinapondan. In 2016, under the name Triple L, they experimented with home-based processing of banana chips with just 50 kilos of bananas, worth about €30. One year after the production of their first experimental batch, and as their product gained popularity in the neighbourhood, the Cabes decided to set-up a small production facility.

• Microenterprise

• Small Enterprise

• Large Enterprise

• Medium Enterprise

Multiple Choice

Because of the pandemic, Anthony’s business needs to cut off employees. Their income decreases everyday, thus he needed to take action on it.

• Capital

• Labor

• Goals

• Size

Multiple Choice

Zilla was inspired of the mango float online business she saw on facebook. She got an idea to start her own online food business.

• enterprise can involve a new concept

• built on an existing concept but giving rise to a new concept

• involves an existing concept and an existing business

• closemindedness

Multiple Choice

High HDI : Developed

Medium HDI : ____

• Asia

• IMF

• Industrialized

• Developing

Multiple Choice

Developing : China

Underdeveloped : ____

• India

• Kenya

• Indonesia

• China

Multiple Choice

The secession of South Sudan induced multiple economic shocks. The biggest one being the loss of the oil revenue that accounted for more than half of Sudan’s government revenue and 95% of its exports. This has reduced economic growth, and resulted in double-digit consumer price inflation, which, together with increased fuel prices, triggered violent protests in September 2013.

• Developed

• Developing

• Underdeveloped

• Industrialized

Multiple Choice

Since China began to open up and reform its economy in 1978, GDP growth has averaged almost 10 percent a year, and more than 800 million people have been lifted out of poverty. It is is now an upper-middle-income country. China has been reclassified by IMF, together with the Philippines.

• Developed

• Developing

• Underdeveloped

• Industrialized

Multiple Choice

What type of country that uses primitive methods in farming?

• Developed

• Developing

• Underdeveloped

• Industrialized