Animation_Summative Assessment/Exam

When you love to stick to the plan and fight the temptations of doing unimportant things in order to achieve your goal, you are developing the personal entrepreneurial competency of being _____________

• able to accept change

• creative

• disciplined

• confident

As an entrepreneur, being creative means…

• doing a lot of artworks

• being sincere in doing business

• thinking new ideas to improve business

• copying innovative strategies to sell more

How do you effectively develop self-confidence?

• ask friends on how to become confident

• practice talking in front of many people

• be with confident people

• read books on how to develop self-confidence

______________ is the place where people regularly gather for the purchase and sale of products or services.

• company

• school

• market

• bus terminal

______________ can be a company in the same industry or a similar industry that offers product that compete your product.

• supplier

• customer

• competitor

• entrepreneur

______________ is the end result of the manufacturing process offered to the marketplace to satisfy a need or want of a customer.

• product

• business

• opportunity

• constraint

What do you call a work that is done for others?

• competitor

• customer

• product

• service

Needs and wants of the people in a certain area that are not met may be considered as _______________

• product

• business

• opportunity

• constraint

____________ are those factors that limit the ability to grow, and reduce sales and profit potential.

• product

• business

• opportunity

• constraint

To be successful in any type of business venture, potential entrepreneurs should always look closely at the environment and market. In the market, there are a lot of competitors. There are companies that offer the same products or services and are competing for the potential market. Who are these competitors?

• substitutes

• new entrants

• direct competitor

• indirect competitor