Entrepreneurship Quiz

What is the definition of an entrepreneur?

• A person who organizes and operates a business venture

• A person who provides goods and services

• A person who creates new products and markets

• A person who manages financial resources

According to Joseph Schumpeter, what is the emphasis of entrepreneurship?

• Innovation and creation of new products

• Efficient management of resources

• Expansion and growth of the business

• Maximizing profits

What is the outcome of entrepreneurship?

• Creation of new markets

• Generation of profits

• Provision of goods and services

• Formation of a business enterprise

What is the difference between small business and ordinary small business?

• Small business practices entrepreneurship principles

• Small business focuses on profit generation

• Ordinary small business provides quality service

• Ordinary small business has a limited workforce

What is the importance of entrepreneurship to the Filipino people?

• Improvement of financial and social life

• Promotion of peaceful and loving community

• Creation of new business opportunities

• Contribution to national income

What are the cognitive skills required in entrepreneurship?

• Understanding written materials and learning new information

• Solving problems systematically and creating new ideas

• Verbal communication and leading others

• Information technology and technical writing

What is the purpose of environmental scanning in entrepreneurship?

• To identify threats and opportunities in the environment

• To determine the future path of the business

• To evaluate the success of the entrepreneurial venture

• To gather critical information on industry trends

What is the nature of a sole proprietorship?

• One owner with limited workforce

• Formal arrangement between two or more parties

• Legally separate business entity

• Combination of products and services

What is the production system in entrepreneurship?

• Input, process, output

• Manpower, method, machine, materials

• Strengths, weaknesses, opportunities, threats

• Physical, societal, industry environment

What is the method of production in entrepreneurship?

• Product to produce and mode of production

• Educational qualifications and experience

• Types of products to be produced

• Cost and quality of materials