TLE 7A-CONCEPT OF ENTREPRENEURSHIP

___ performs a variety of functions, such as buying and selling goods and services, and it is a medium of exchange.

• Barter

• Money

• Entrepreneurship

• Enterprise

In the Philippines, every citizen has a right, within legal limits, to start a business and make profit. This is called ____.

• Money economy

• Productive economy

• Barter trade

• Free enterprise

The earnings of a company after all expenses have been paid are called ___.

• Profits

• Wagers

• Resources

• Services

A process that enables people to exchange goods or services which are of value is called ____.

• Market

• Business

• Product

• Goods

A nonmonetary economy wherein goods are swapped for goods is referred to as ___.

• Money economy

• Marketing

• Free enterprise

• Barter economy

Easy money may cause _____.

• Income

• Debt obligation

• Inflation

• Financial obligation

The bank which regulates the supply of money resulting in the upward or downward changes in the amount of credit or funds available to investors and producers is the ____.

• Landbank

• Bangko Sentral ng Pilipinas

• Philippine National Bank

• Bank of the Philippine Islands

Business enterprises can produce goods and provide services which include natural resources, capital, labor, and technology because of ____.

• Productive resources

• Profits

• Competition

• Society

The one who buys and uses goods or services to satisfy one's need is a/an ____.

• Entrepreneur

• Consumer

• Businessman

• Capitalist

Among business companies, ____ affects the price and quality of their goods and services.

• Competition

• Barter trade

• Money economy

• Tight money