1st Summative Test in TLE

A person who organizes and operates a business?

• a. entrepreneur

• b. salesman

• c. stockholder

• d. service crew

If you are a determined person and able to manage your own business, what quality of an ideal entrepreneur do you possess?

• a. committed

• b. hardworking

• c. goal oriented

• d. capable of building on strengths

The seller needs to understand how to _________

• a. make more products

• b. makes purchases painless, convenient and hassle free

• c. find a retailer

• d. find a middleman

For a business to succeed, one must have a knowledge about ______.

• a. buyers and sellers

• b. competitors

• c. discount

• d. capital and sales

What is the main purpose of business?

• a. To manage the sales

• b. To advise and solve problems

• c. To recognize and define problems

• d. To satisfy the needs of the customers

Refer to the basic necessities of the people such as food, clothing and shelter?

• a. Wants

• b. Medicine

• c. Needs

• d. Health

These are goods that people desire or wish to have?

• a. Wants

• b. Car

• c. Needs

• d. Demand

This is a place where you can find comfort and satisfaction?

• a. School

• b. Shelter

• c. Market

• d. Play House

This is considered as wealth since it is really hard to be free of sickness nowadays?

• a. Food

• b. Health

• c. Gadget

• d. Shelter

No form of life can exist without this.

• a. Shelter

• b. Food

• c. Health

• d. Medicine