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entrepreneurship

Total questions: 117

Worksheet time: 58mins

Name
Class
Date
1.
Who created Facebook?
a)
Mark Zuckerberg
b)
Elon Musk
c)
JK Rowling
d)
Walt Disney
2.
Business entity that is usually owned by multiple stockholders and operates as a separate legal entity.
a)
proprietorship
b)
partnership
c)
limited liability company
d)
corporation
3.
What is an entrepreneur?
a)
A person who is in charge of a specific location.
b)
A person who works for someone else in order to learn skills.
c)
A person who organizes and operates a business or businesses.
d)
None of these
4.
Which is NOT a common characteristic of an entrepreneur?
a)
risk-taker
b)
creative
c)
organized
d)
irresponsible
5.
An entrepreneur is someone who works for themselves.
a)
True
b)
False
6.
Most entrepreneurs work long hours, but they create their own schedule.
a)
True
b)
False
7.
ALL entrepreneurs have a college degree.
a)
True
b)
False
8.
How do many people become millionaires?
a)
They save aggressively.
b)
They avoid debt.
c)
The invest their money.
d)
All of these
9.

Which is a characteristic of a successful entrepreneur?

a)

Motivated

b)

Takes very little risk

c)

Passionate

d)

Hard-working

10.

A target market is

a)

a group of investors willing to put capital into a business

b)

a generational group of individuals

c)

a group of consumers at which a product/service is aimed

d)

an industry willing to sell and market your product

11.
Which type of business does this image represent? 
a)
Wholesale
b)
Retail
c)
Service
d)
Manufacturing
12.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
13.

Entrepreneurs create ____________________ for themselves and others.

a)

wealth

b)

risk

c)

plans

d)

none of these

14.

Which trait or characteristic would describe a successful entrepreneur?

a)

Lazy

b)

Shy

c)

Bossy

d)

Self Starter

15.

What % of small businesses will fail in the first five years?

a)

30%

b)

15%

c)

50%

d)

70%

16.

60% of __________________ fail in the first three years

a)

Coffee shops

b)

Restaurants

c)

Retail shops

d)

Manufacturing plants

17.

60% of __________________ fail in the first three years

a)

Coffee shops

b)

Restaurants

c)

Retail shops

d)

Manufacturing plants

18.

What % of jobs are created by small businesses?

a)

60%

b)

50%

c)

80%

d)

30%

19.
A new or different product
a)
Harvesting
b)
Innovation
c)
Opportunity
d)
Risk
20.
Some people become entrepreneurs by turning part-time work experiences into full-time businesses.
a)
True 
b)
False
21.
Entrepreneurs want to be their own bosses, set their own working hours, and make their own decisions.
a)
True
b)
False
22.
When setting the prices of goods or services, business owners must consider the prices charged by competitors.
a)
True
b)
False
23.
Which is NOT a common characteristic of an entrepreneur?
a)
risk-taker
b)
creative
c)
organized
d)
irresponsible
24.
Most entrepreneurs work long hours, but they create their own schedule.
a)
True
b)
False
25.
ALL entrepreneurs have a college degree.
a)
True
b)
False
26.

Which is a characteristic of a successful entrepreneur?

a)

Motivated

b)

Takes very little risk

c)

Passionate

d)

Hard-working

27.

A target market is

a)

a group of investors willing to put capital into a business

b)

a generational group of individuals

c)

a group of consumers at which a product/service is aimed

d)

an industry willing to sell and market your product

28.
An entrepreneur is someone who works for themselves.
a)
True
b)
False
29.
What is an entrepreneur?
a)
A person who is in charge of a specific location.
b)
A person who works for someone else in order to learn skills.
c)
A person who organizes and operates a business or businesses.
d)
None of these
30.
Which is NOT a common characteristic of an entrepreneur?
a)
risk-taker
b)
creative
c)
organised
d)
irresponsible
31.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
32.
Most entrepreneurs work long hours, but they create their own schedule.
a)
True
b)
False
33.
Which one of these is NOT a characteristic of an entrepreneur?
a)
risk taker
b)
idea person
c)
generalist
d)
specialist
34.
ALL entrepreneurs have a college degree.
a)
True
b)
False
35.
Entrepreneurs look for business ideas and new and better ways to solve problems.
a)
True
b)
False
36.
All of the following are advantages of entrepreneurship, except
a)
isolation
b)
independence
c)
control
d)
personal satisfaction
37.
The chance of danger or loss
a)
Risk
b)
Options
c)
Reward
d)
Benefit
38.
All of the following are entrepreneurial skills, except
a)
business skills
b)
art skills
c)
mathematical skills
d)
communication skills
39.
These are all characteristics of an entrepreneur, EXCEPT...
a)
Flexible
b)
Confidence
c)
Innovative
d)
Lazy
40.

The capacity for innovation, investment and expansion in new markets, products and techniques.

a)

Business

b)

Businessman

c)

Entrepreneur

d)

Entrepreneurship

41.

Any person who can create something new or something different has already acquired a competitive advantage.

a)

Business

b)

Businessman

c)

Entrepreneur

d)

Entrepreneurship

42.

An organization or enterprising entity engaged in commercial, industrial, or professional activities.

a)

Business

b)

Businessman

c)

Entrepreneur

d)

Entrepreneurship

43.

A person involved in the business sector – in particular someone undertaking activities for the purpose of generating cash flow, sales, and revenue by utilizing a combination of human, financial, intellectual and physical capital with a view to fueling economic development and growth.

a)

Business

b)

Businessman

c)

Entrepreneur

d)

Entrepreneurship

44.

A true entrepreneur doesn’t ask questions about whether or not they’ll succeed—they truly believe they will.

a)

Creative

b)

Hardworking

c)

Perseverance

d)

RiskTAker

45.

They’re able to not only come up with ingenious ideas, but also turn those ideas into profits.

a)

Creative

b)

Perseverance

c)

Persistence

d)

Self Confidence

46.

Entrepreneurs are dreamers and believe their ideas are possible, even when they seem unattainable.

a)

Hardworking

b)

Opportunity Seeker

c)

Optimistic

d)

Self Confidence

47.

A Spanish word which means self love; a sense of self-esteem or self-respect that prevents a person from swallowing his pride

a)

Amor Propio

b)

Bahala Na System

c)

Balimbing

d)

Ningas Kugon

48.

This trait means leaving everything to chance or “letting the circumstances take care of itself”.

a)

Amor Propio

b)

Bahala Na System

c)

Balimbing

d)

Ningas Kugon

49.

Instead of doing things that could help one to develop and become better than his competitors, Filipinos devote so much of their time gossiping and back-biting.

a)

BALIMBING

b)

CRAB MENTALITY

c)

MAÑANA HABIT

d)

NINGAS KUGON

50.

Filipinos are fond of starting a project with so much enthusiasm.

a)

AMOR PROPIO

b)

MAÑANA HABIT

c)

NINGAS KUGON

d)

SENSE OF PRIDE

51.

The idea of returning the favor to those who have done good deeds.

a)

PAKIKIPAGKAPWA-TAO

b)

PAKIKIBAGAY

c)

PAGKAMATIPID

d)

UTANG NA LOOB

52.

They genuinely love their work.

a)

COMMITTED

b)

DEDICATION

c)

PASSION

d)

STRONG PEOPLE SKILL

53.

Involves dedicating yourself to something, like a person or a cause.

a)

COMMITMENT

b)

CREATIVE

c)

PASSION

d)

RISK TAKER

54.

Quality related to inquisitive thinking such as exploration, investigation, and learning, evident by observation in humans and other animals.

a)

CREATIVE

b)

COMMITMENT

c)

CURIOSITY

d)

PASSION

55.

They have endless curiosity to discover new or different ideas and see whether these ideas will work in the marketplace.

a)

CURIOSITY

b)

HARDWORKING

c)

OPPORTUNITY SEEKER

d)

SELF CONFIDENCE

56.

Wealth Creation

a)

Entrepreneurs invest their own resources and attract capital (in the form of debt, equity, etc.) from investors, lenders and the public.

b)

Entrepreneurs setting up new businesses and industrial units help with regional development by locating in less developed and backward areas.

57.

Wealth Creation

a)

Entrepreneurs invest their own resources and attract capital (in the form of debt, equity, etc.) from investors, lenders and the public.

b)

Entrepreneurs setting up new businesses and industrial units help with regional development by locating in less developed and backward areas.

58.

DETERMINATION, BRAVERY AND COURAGE

a)

ENTREPRENEURIAL GUTS FRAME

b)

ENTREPRENEURIAL HEART FRAME

c)

ENTREPRENEURIAL MIND FRAME

59.
A television commercial presented in the form of a short documentary
a)
bundling
b)
infomercial
c)
public relations
60.
Grouping 2 or more products together and pricing them as a unit.
a)
bundling
b)
grouping
c)
branding
61.
Any activity designed to create a favorable image of a business, its products, or its policies.
a)
public relations
b)
public relationship
c)
relations
62.
Electronic advertisement that you pay other companies or organizations to embed on their websites.
a)
web banner
b)
webmail
c)
social media
63.
The activity of presenting products or services to customers
a)
selling
b)
producing
c)
marketing
64.
An outline discussion group that focuses on a specific topic
a)
newsgroup
b)
group
c)
focus group
65.
Setting prices based on competitors' strategies, prices, costs, and market offering
a)
competition based pricing
b)
based pricing
c)
completion based pricing
66.
The combination of product lines offered by a manufacturer
a)
product mixture
b)
product mix
c)
marketing mix
67.
Unique symbol, coloring, lettering, or other design element.
a)
brand mix
b)
brand
c)
product mix
68.
A public promotion of some product or service
a)
website
b)
advertising
c)
branding
69.
The symbolic embodiment of all the information connected with a product or service.
a)
brand
b)
branding
70.
Cover letter that is often sent with  a press release to introduce it
a)
pitch letter
b)
progress letter
71.

A person who starts, manages, and owns a business.

a)

Entrepreneur

b)

Entrepreneurship

c)

Business

72.

The process of starting and managing your own business.

a)

Entrepreneur

b)

Entrepreneurship

c)

Franchising

73.

This is an advantage of Entreprenurship

a)

Flexible work hours

b)

You are your own boss

c)

Recognition

d)

Do something that you always wanted to d

e)

all of the above

74.

The following are all disadvantage of entrepreneurship, EXCEPT?

a)

High risk of business failure.

b)

Possibility of low/no income

c)

Potential for high income

d)

Stress

e)

Long work hours

75.

This is a business owned by one person

a)

Partnership

b)

Corporation

c)

Franchise

d)

Sole Proprietorship

e)

Limited Liability Company

76.

This is a business owned by two or more people

a)

Partnership

b)

Corporation

c)

Franchise

d)

Sole Proprietorship

e)

Limited Liability Company

77.

This is a legal entity owned by stockholders and operated by a board of directors It operates as a separate legal entity apart from the owners.

a)

Partnership

b)

Corporation

c)

Franchise

d)

Sole Proprietorship

e)

Limited Liability Company

78.

Select all of the ways to enter a business

a)

Open a new business

b)

Buy an existing business

c)

Buy a franchise

d)

Join the family business

e)

All of the above

79.
To show or explain in detail
a)
Describe
b)
Demonstrate
c)
Tell
d)
Find
80.
To physically show how something is done
a)
Describe
b)
Demonstrate
c)
Tell
d)
Show
81.
To combine ideas with others to produce or create something
a)
Collaborate
b)
Work alone
c)
Produce
d)
Create
82.
The loss of potential gain from other alternatives when one alternative is chosen.
a)
Opportunity Cost
b)
Entrepreneur
c)
Inventor
d)
Failure
83.
A symbol or other design adopted by an organization to identify its products, uniform, vehicles, etc.
a)
Logo
b)
Copyright
c)
Trademark
d)
Slogan
84.
A person who organizes and operates a business who takes a calculated financial risk in order to do so.
a)
Entrepreneur
b)
Inventor
c)
Principal
d)
Boss
85.
To explain the meaning of something
a)
Interpret
b)
Demonstrate
c)
Produce
d)
Show
86.
To form a mental image
a)
Visualize
b)
Demonstrate
c)
Describe
d)
Produce
87.
A quote (a passage, book, or author) as evidence for or justification of an argument or statement, especially in a scholarly work. Giving credit where due.
a)
Cite
b)
Copyright
c)
Trademark
d)
Share
88.
The process of starting and running a business.
a)
Entrepreneurship
b)
Technical Skills
c)
Independent Skills
89.
The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
a)
Actualization
b)
Discovery
c)
Harvesting
d)
Concept Development
90.
The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, and identifies strategies to protect intellectual property.
a)
Discovery
b)
Harvesting
c)
Concept Development
d)
Actualization
91.
The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup, etc.
a)
Concept Development
b)
Harvesting
c)
Resourcing
d)
Actualization
92.
The stage in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
a)
Actualization
b)
Harvesting
c)
Resourcing
d)
Concept Development
93.
The stage in which the entrepreneur decides on venture’s future growth, development, or demise.
a)
Concept Development
b)
Resourcing
c)
Harvesting
d)
Actualization
94.
A new or different product
a)
Harvesting
b)
Innovation
c)
Opportunity
d)
Risk
95.
An individual who undertakes the risk associated with creating, organizing, and owning a business
a)
Entrepreneurship
b)
Entrepreneur
c)
Venture
d)
Mission Statement
96.
Applying principles of right and wrong to situations in the workplace
a)
Innovation
b)
Risk
c)
Business Ethics
d)
Opportunity
97.
A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture
a)
Innovative
b)
Business Ethics
c)
Resourcing
d)
Code of Ethics
98.
A written description of the purpose of a company and the management’s philosophy.
a)
Harvesting
b)
Mission Statement
c)
Resourcing
d)
Actualization
99.
A business undertaking involving risk
a)
Venture
b)
Risk
c)
Opportunity
d)
Harvesting
100.

Identify a successful sole proprietor must exhibit all of the following except

a)

Leadership skills

b)

Be fully responsible for the firm’s performance

c)

Be willing to work 40 hours per week

d)

Organization skills

101.

Identify disadvantages of a partnership except

a)

Decision making must be shared among partners

b)

General partners are subject to unlimited liability

c)

Profits are shared among partners

d)

Multiple partners bring additional funds to the business

102.

Select disadvantages of a sole proprietorship

i. Easy to set up

ii. Not regarded as a separate legal entity

iii. More responsibilities

iv. Owner keeps all the profit

v. Liability is unlimited

a)

i, iii and iv

b)

ii, iii and iv

c)

ii, iii and v

d)

ii and iii only

103.

Select disadvantages of a sole proprietorship

i. Easy to set up

ii. Not regarded as a separate legal entity

iii. More responsibilities

iv. Owner keeps all the profit

v. Liability is unlimited

a)

i, iii and iv

b)

ii, iii and iv

c)

ii, iii and v

d)

ii and iii only

104.

Identify secondary sources in entrepreneurial ideas and opportunities except

a)

Reliable existing data

b)

References

c)

Mass media and electronic media

d)

Internet

105.

Identify secondary sources in entrepreneurial ideas and opportunities except

a)

Reliable existing data

b)

References

c)

Mass media and electronic media

d)

Internet

106.

Select type of business

i. Sole Proprietorship

ii. Partnership

iii. Private Limited Company

iv. Public Limited Company.

a)

i, iii and iv

b)

ii, iii and iv

c)

i, ii, iii and iv

d)

ii and iii only

107.

Identify entrepreneurship support facilities.

i. Financial

ii. Management Training and Entrepreneurship

iii. Advertising

iv. Technology

v. Location and business space

a)

i, ii, iii and iv

b)

i, ii, iii, iv and v

c)

i, ii, iii and v

d)

i, ii, iv and v

108.

What type of business that most entrepreneurs start

a)

Partnership

b)

Corporation

c)

Sole Proprietorship

d)

Private limited company

109.

Describe an entrepreneur

a)

An entrepreneur must know only the parts of the business they like

b)

An entrepreneur must know no parts of the business management

c)

An entrepreneur must know all parts of business: finance, marketing, etc

110.

Recognize an entrepreneur must be

a)

Disorganized

b)

Organized

c)

Lazy

d)

Clumsy

111.

Identify creative thinking technique except

a)

Personnel

b)

Brainstorming

c)

The six thinking hats

d)

Business process re-engineering

112.

Identify the person who provides money to start-up the business with the expectation of a future financial return is known as:

a)

Investor

b)

Rich person

c)

Bank

d)

Loan

113.

What are the "channels" in a business model canvas?

a)

Where you sell your products/services

b)

Who your customers are

c)

Your goals as a business

114.

Identify the online marketplace website goes in what section of the Business Model Canvas?

a)

Customer Relationships

b)

Channels

c)

Revenue

d)

Customer Segments

115.

Conclude that a business opportunity is only about having an idea

a)

False

b)

True

116.

Which of the following is NOT a type of business ownership

a)

Partnership

b)

Sole Proprietorship

c)

Entrepreneurship

d)

Franchise

117.

Which are the following research assistance provided by agencies in Malaysia except

a)

Malaysia Agricultural Research and Development Institute (MARDI)

b)

Federal Agricultural Marketing Authority (FAMA)

c)

Standard and Industrial Research Institute of Malaysia (SIRIM Berhad)

d)

Malaysian Palm Oil Board (MPOB)

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