TLE 9 - CSS - Quiz - Part 2

_____________________ refers to essential to every individual so he/she may be able to live with dignity and pride in the community of people.

• wants

• business

• luxury

• need

_____________ are other businesses who can offer the same or similar goods and services to your customers.

• enemy

• business partners

• competitors

• customers

When an entrepreneur improves and alter products to make it more appealing to target consumers, he/she is doing an _______________ of the product.

• alteration

• invention

• innovation

• improvisation

The following are examples of peoples’ basic needs, except:

• Shelter

• Clothing         

• Food

• Recreation

Customer value is the perception of what a product or service is worth to a

customer versus the possible alternatives.

• TRUE

• FALSE

• Either TRUE or FALSE

• Neither TRUE nor FALSE

Customer value means whether the customer feels s/he got benefits and

services over what s/he paid.

• TRUE

• FALSE

• Either TRUE or FALSE

• Neither TRUE or FALSE

Ceasar studies the population in his immediate community. He is doing this to

• Predicts his biggest buyer.

• Identifies his would be “suki”.

• Determines whom to sell his product or service

• Selects his favourite customers

Thong plans to put a “digi-print” studio in their locality. Which of the following will help him determine his plan for a success setting up of his business?

• Conduct SWOT Analysis

• Identifies his would be “suki”.

• Determines whom to sell his product or service

• Selects his favourite customers.

Which of the following should be considered first by a prospective entrepreneur in choosing the right location for his/her store?

• The prevailing prices of goods in the area.

• The attractiveness of the store layout.

• Type of merchandise

• The access of the target customer

Why is it important for an entrepreneur to explore the economic, cultural and social conditions prevailing in an area?

• To provide the right products to be produced or services to be offered in the area.

• To identify the SWOT of the business.

• To seize business opportunities.

• All of the above