Forms of Business

What is the best definition of an entrepreneur?

• A person who works for a company and follows instructions

• A person who starts and runs their own business, comes up with new ideas, and works hard to make it successful

• A person who only invests money in a business without managing it

• A person who provides services without any financial goal

What does entrepreneurship involve?

• Only selling products

• Taking risks, coming up with new ideas, and creating products or services

• Working as an employee for a large company

• Following instructions from a business owner

Which of the following is an example of an

entrepreneur from the Philippines?

• Bill Gates

• Steve Jobs

• Tony Tan Caktiong

• Elon Musk

Which of the following entrepreneurs is known for founding SM Investments?

• Tony Tan Caktiong

• Henry Sy

• Manny Villar

• Steve Jobs

Which business is associated with Tony Tan Caktiong?

• Jollibee Corporation

• SM Investments

• Apple Inc.

• Microsoft

What is the difference between a product and a service?

• A product is an idea, while a service is a physical item

• A product is a physical item, while a service is an activity or task done for customers

• A product and a service are the same

• service is something you can hold, while a product is an action

Which of the following is an example of a service-based business?

• Selling clothes

• Running a fast-food restaurant

• Offering car repairs

• Manufacturing furniture

What is a characteristic of a successful entrepreneur?

• Avoids risks and sticks to traditional methods

• Waits for opportunities instead of creating them

• Comes up with new ideas and works hard to make their business successful

• Works only for large companies

Who is a person that purchases goods or services to satisfy their needs?

• Buyer

• Seller

Who is responsible for offering goods, products, or services to those who need them?

• Buyer

• Seller