LESSON 2 CONCEPT OF ENTREPRENUERSHIP

What does entrepreneurship mainly involve?

• Buying and reselling products only

• Working under someone

• Starting and managing a business

• Donating to charity

Which of the following best describes an entrepreneur?

• A person who avoids risk

• A person who follows orders

• A person who creates and manages a business venture

• A person who spends money

What is the goal of entrepreneurship?

• To increase unemployment

• To copy existing businesses
  

• To create value and earn profit

• 3. To work less

Which of the following is NOT a characteristic of an entrepreneur?

• Creative thinking

• Dependence on others

• Initiative

• 4. Risk-taking

Entrepreneurship contributes to the economy by:

• Importing more goods

• Increasing competition only

• Creating jobs and generating income

• Limiting innovation

A person who turns ideas into a business is known as a:

• Supplier

• Consumer

• Manager

• Entrepreneur

Which of the following is a key concept of entrepreneurship?

• Avoiding problems
  

• Imitating others

• Innovation and risk-taking

• Working in government

Which of the following is an example of entrepreneurship?

• Opening a sari-sari store

• Managing a government office

• Receiving allowance from parents

• Buying products only

Why is entrepreneurship considered a process?

• It happens by accident

• It includes steps like planning, launching, and managing

• It involves guessing

• It is always successful

Which of the following is NOT a benefit of entrepreneurship?

• Encouraging laziness

• Improving living standards

• Creating new jobs

• Promoting innovation