Summative Test in Entrepreneurship

It is a replica of a product.

• Prototype

• Business Model

• Product description

• Suppliers

Which of the following refers to the human workforce involved in the manufacture of products?

• Materials

• Method

• Machine

• Manpower

Costs incurred through payment of utilities such as electricity and water -

• Revenue

• Mark-up

• Operating expenses

• Free

Which of the following refers to the manufacturing equipment used in the production of goods or delivery of services?

• Machine

• Manpower

• Method

• Materials

Merchandise or goods purchased are referred to as -

• Purchases

• Costs

• Operating Expenses

• Loss

It is an entity that supplies goods and services to another organization.

• Prototype

• Product description

• Business model

• Suppliers

It represents the final products from the production process and distributed to the customers.

• Input

• Supplies

• Output

• Materials

It is a planning tool that helps entrepreneur copes up with uncertainties in the future operation of the business.

• Revenue

• Selling

• Benchmarking

• Forecasting

Which of the following refers to the marketing copy that explains what a product is and why it is worth purchasing?

• Prototype

• Product description

• Business Model

• Suppliers

Refers to amount paid to transport goods or merchandise purchased from the supplier to the buyer.

• Merchandise Inventory, end

• Expenses

• Merchandise Inventory, beginning

• Freight-in