TLE6 Quarter2 Quiz1

Which of the following statements is NOT TRUE about buyers?

• Every person is a buyer.

• A buyer earns money when buying.

• A farmer is a buyer.

• A buyer loses money when buying.

Answer explanation

The statement "A buyer earns money when buying" is NOT TRUE because buyers typically spend money to acquire goods or services, resulting in a loss rather than a gain.

Aling Maria is loved by her customers because she has never sold bad meat to them. When there is leftover meat that she knows she cannot sell the following day, she discards it without hesitation. What quality of an ideal entrepreneur does she manifest?

• Honest

• Persistent

• Industrious

• Determined

Answer explanation

Aling Maria's commitment to discarding unsellable meat shows her honesty. She prioritizes her customers' trust over profit, which is a key quality of an ideal entrepreneur.

The billionaire, Elon Musk, is taking the lead in developing self-driving cars, creating AI technologies, and initiating space exploration missions. All these endeavors are relatively new to the world. What quality of an ideal entrepreneur does he manifest?

• Industrious

• Caring

• Honest

• Innovative

Answer explanation

Elon Musk exemplifies the quality of being innovative, as he is at the forefront of developing groundbreaking technologies like self-driving cars, AI, and space exploration, which are all transformative and novel endeavors.

Before becoming a successful entrepreneur, Itthipat Kulapongvanich, made numerous attempts to succeed in other endeavors. He failed countless times, but he never gave up. What quality of an ideal entrepreneur did he manifest?

• Honest

• Innovative

• Persistent

• Knowledgeable

Answer explanation

Itthipat Kulapongvanich demonstrated persistence by continuing to strive for success despite numerous failures. This quality is essential for entrepreneurs, as it enables them to overcome challenges and keep pursuing their goals.

Which of the following is a quality of an ideal entrepreneur?

• Exploitative

• Greedy

• Risk Taker

• Selfish

Answer explanation

An ideal entrepreneur is a risk taker, willing to embrace uncertainty to pursue opportunities. This quality is essential for innovation and growth, unlike exploitative, greedy, or selfish traits that hinder collaboration and trust.

Robert was discouraged by his peers to setup a Chinese-Style Restaurant at their town because of the possibility that people will prefer local food. However, Robert believed that he could succeed if he studied his craft and did his best, so he continued with his decision and eventually succeeded in becoming the owner of now the biggest Chinese restaurant in town. What quality of an ideal entrepreneur did he manifest?

• Risk Taker

• Caring

• Honest

• Industrious

Answer explanation

Robert demonstrated the quality of a Risk Taker by pursuing his dream of opening a Chinese restaurant despite discouragement from peers. His willingness to take risks ultimately led to his success.

Who among the following people is considered a seller?

• Arnold who consumes milk obtained from a sari-sari store.

• Baldo who earns a living by making souveneirs.

• Cardo who pays for e-load to play an online game.

• Dany who pays for construction materials for his new house.

Answer explanation

Baldo is considered a seller because he earns a living by making souvenirs, which involves producing goods for sale. The other options describe consumers or buyers, not sellers.

What does the ideal entrepreneur have in mind in doing business?

• high profit or gain

• his image to the people

• the welfare of his customers

• his reputation

Answer explanation

The ideal entrepreneur prioritizes the welfare of his customers, as this builds trust and loyalty, leading to sustainable success. While profit and reputation are important, customer welfare is fundamental for long-term business growth.

Which ingredient is missing in making polvoron? butter, sugar, skimmed milk, ____________

• water

• soy sauce

• vinegar

• flour

Answer explanation

Polvoron is a traditional Filipino treat made from flour, sugar, butter, and milk. The missing ingredient in the list is flour, which is essential for giving polvoron its structure and texture.

Which of the following is an example of a product?

• Narra Tree

• Carabao

• Mushroom

• Milk Candy

Answer explanation

Milk Candy is a processed food product made from milk, while the other options are raw materials or living organisms. Therefore, Milk Candy is the correct example of a product.