ENTREPRENEURSHIP: Final Examination

The 4M’s of production are as follows except ONE. Which one is it?

• Machine

• Management

• Manpower

• Method

Which of the following promotes and explains what a product is and why it’s worth buying?

• Business Model

• Product description

• Prototype

• Suppliers

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

• Input

• Materials

• Output

• Supplies

It is a replica of a product.

• Prototype

• Product description

• Business Model

• Suppliers

Which of the following refers to the system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer?

• Business model

• Prototype

• Supply Chain

• Value Chain

Which of the following is the process or activities by which a company adds value to an article, including production, marketing, and the provision of aftersales service?

• Business model

• Prototype

• Supply Chain

• Value Chain

It describes the rationale of how an organization creates, delivers, and captures value in economic, social, cultural or other contexts.

• Business Model

• Product description

• Prototype

• Suppliers

It is the physical output of the whole production process.

• Business Model

• Product

• Prototype

• Suppliers

It refers to the process or technique of converting raw materials to finished products.

• Machine

• Manpower

• Materials

• Method

It simply refers to the raw materials needed in the production of a product.

• Machine

• Manpower

• Method

• Materials