1. Who is your potential customer when you want to sell high-end laptops?

A. High School Students

B. Parents
C. Senior Citizens
D. Professionals
2. They are goods that require an unusually large effort on the part of consumers to acquire*
A. Unsought Goods
B. Convenience Goods
C. Specialty Goods
D. Shopping Goods
3. Nothing is permanent but change. Change occurs frequently. When you own a business, you should face your
challenges and cope with changes. What characteristic of an entrepreneur is he?
A. Self-confident
B. Committed
C. Has the initiative
D. Able to accept change
4. These are purchased less frequently than convenience goods, are relatively more expensive, require some amount
of information search and evaluation prior to purchase.
A. Consumer Goods
B. Shopping Goods
C. Undifferentiated Goods
D. Industrial Goods
5. Which of these is NOT a part of Porter's Five Forces?
A. Threat of Substitures
B. Barriers to Entry
C. Availability of your Product
D. Rivalry of Competition
6. Where should your venture in business start with?
A. Observation
B. Innovation
C. Implementation
D. Exploitation
7. This refers to the product’s freedom from defects or it is the ability of the product to satisfy customer needs.
A. Relationships
B. Transactions
C. Quality
D. Exchange
8. Which of these is an advantage on becoming an entrepreneur?
A. Uncertainty of income
B. Opportunity to make a difference
C. Long hours of work
D. Complete responsibility
9. If an entrepreneur is always in constant search for better and cheaper sources of materials he/she needs. He/she is
_______________________?
A. Improving the quality of life
B. Generating new materials
C. Developing new market
10. Which of these is NOT on the 3 levels of a product?
A. Augmented Product
B. Actual Product
C. Virtual Product
D. Core Product
11. Which of these are NOT contributions of Entrepreneurship to the economy and society?
A. Create employment
B. Serves as role model
C. Develop new market
D. Introduces staleness
12. This includes the demographic and cultural factors including beliefs, tastes, customs and traditions.
A. Socio-Cultural Environment
B. Political Environment
C. Cultural Forces
13. What are you going to use if you want to determine your product and service viability by what has happened in the
past to determine what will happen in the future?
A. SWOT Analysis
B. Trend Analysis
C. Industry Analysis
D. Competitor Analysis
14. Why is Entrepreneurship important to students?
A. Entrepreneurship helps students to develop “grit.”
B. Entrepreneurship make productive use of various resources present in the economy.
C. Entrepreneurs provide employment opportunities to various individuals.
D. Entrepreneurs give prestige to the country
15. Who is your potential customer when you want to sell expensive, luxurious bags?
A. Lower Class
B. Rich
C. Middle Class
D. Poor
16. Martha is selling a home made sweet longanisa. At first, people are very much interested in buying her product until
a cheaper brand flooded the market. What should Martha do to compete?
A. Look for another product to sell
B. Close down business
C. Establish her own unique selling proposition
D. Be angry at the distributor
17. You are assigned to create a drink for kids aged 6-8 years old. Which would you consider?
A. Taste
B. Nutrients
C. Aroma
D. All of the above
18. These are purchased for personal consumption and/or for household use.
A. Undifferentiation Goods
B. Consumer Goods
C. Shopping Goods
D. Industrial Goods
19. These are considered as internal negatives.
A. Threats
B. Weaknesses
C. Strengths
D. Opportunities
20. Which of the following is NOT one of the reasons in selecting a product?
A. Financial benefit to your business
B. Negative return on investment
C. Convenience
D. Reliable
21. Which of these is NOT a characteristic of an entrepreneur?
A. Passive
B. Committed
C. Goal-oriented
D. Moderate Risk-taker
22. Chester saw on the Internet the trending grilled balut and started selling them immediately in his area. After a few
days, people also started selling grilled balut. What do you think should he do to innovate the product? ///
A. Start selling softdrinks
B. Offer buy 1 take 1
C. Sell grilled balut with different flavors
23. 62.3 % of the global population uses social media. How can you exploit this and use this to your advantage?
A. Door-to-door advertising
B. Make a page on Facebook to promote your business
C. Pay for billboard ads
D. Hand out flyers
24. It refers to the assessment of enterprise internal and external environment specifically its strengths, weaknesses,
opportunities and threats
A. Trend Analysis
B. Industry Analysis
C. SWOT Analysis
D. Competitor Analysis
25. Which of these is a characteristic of the augmented product?
A. Benefit
B. Quality
C. Fashion
D. Warranty
26. What opportunity would arise if there is an environmental awareness on the use of ecobags and the removal of
plastic straws and utensils?
A. Increase demand for a healthier lifestyle
B. Utilize social media platforms
C. Start a "greener" advocacy
D. Increase demand for healthy foods
27. It is the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
A. Entrepreneurship
B. CEO
C. Business
D. Startup
28. They are the most important in the marketing mix, for they are the one selling and pushing the product.
A. People
B. Machineries
C. Land
D. Animals
29. Which of the following is a process of innovation?
A. Conceiving a new product
B. Customer's needs and wants
C. Good customer service
30. Which of these are factors that influence the friendliness of a country to entrepreneurs?
A. Employment regulations
B. Bankruptcy Laws
C. Tax policies of a country
D. All of the above
31. They are people who can go to a client site, identify problems and fix them.
A. Business Consultants
B. Entrepreneurs
C. Sales
D. Talent Recruiter
32. It is the internal positives of the organization, the assets or valuable resources of the organization or the enterprise
A. Threats
B. Opportunities
C. Weaknesses
D. Strengths
33. You live in a neighborhood near a high school. In the afternoon after classes, you notice students going farther just
to research for their homework. What business would be suitable to start?
A. Toy store
B. Small food stand
C. Piso Net/Computer Shop
D. Milk Tea Shop
34. Why is choosing what to sell a critical step in starting your own enterprise?
A. It can make or break your business
B. Necessary for future business expansion
35. Who said this: “Entrepreneurship is having profits from bearing uncertainty and risk.”
A. Arthur Harrison Cole
B. Bert F. Hoselitz
C. Joseph Schumpeter
D. Frank Knight
36. It is anything tangible or intangible which in most cases a consumer is willing to pay money for, and satisfies a
consumer’s need and/or want.
A. Service
B. Want
C. Product
D. Need
37. Which of these is NOT a barriers to entry determinant?
A. Capital Requirement
B. Supplier Concentration
C. Product Differentiation
D. Economies of scale
38. Meaning to say, when the product and service payment terms are right and anyone can afford to buy it, it is
_________________.
A. Adequate
B. Affordable
C. Available
D. Accessible
39. You live in a neighborhood near an elementary school. In the afternoon after classes, hungry students pass by your
house. What business would be suitable to start in front of your house?
A. Milk Tea Shop
B. Toy Store
C. Piso Net/Computer Shop
D. Small Food Stand
40. It is a bundle of attributes and benefits designed to be offered to buyers to satisfy their needs, wants, and demands.
A. Product
B. Packaging
C. People
D. Place
41. This identifies the quality by a letter, number or word. A variation of this is the expiry date label which is required of
perishable items like milk and bread.
A. Grade Label
B. Brand Label
C. Descriptive Labels
42. These are products that provide benefits to the consumer for a longer period of time, usually spanning several
months
A. Durables
B. Inedibles
C. Consumables
D. Semi-consumables
43. What are you going to use if you need the subtleties behind numbers – the feelings, small actions, or pieces of
community history that affect the current situation.
A. Quantitative Analysis
B. Qualitative Analysis
C. Predictive Analysis
D. Descriptive Analysis

44. If the customer is convinced by the selling points of the products, the products are _________.
A. Affordable
B. Acceptable
C. Accessible
D. Available
45. Which of these is a disadvantage on studying or majoring in Entrepreneurship?
A. It is a significant expense
B. Helps to develop business instincts
C. It can serve as a sort of validation of business
46. How can you determine a viable business idea?
A. Consider the cost of labor
B. Neglect the market
C. Never ask for feedbacks
D. Sell your products right away
47. How are you able to you expose your new product to your target market?
A. By answering queries
B. By promoting using violence
C. By giving free taste
D. By handling complaints
48. The following questions are helpful in identifying possible opportunities EXCEPT
A. Is there still a portion of the market I can make as target market?
B. How easy or difficult is it to leave or exit this industry?
C. Who are my competitors?
D. How do they distribute their products to make these accessible to their customers?
49. “The product must vary from an existing product”. Which of the given choices represents this statement?
A. B&B Kitchenette offers highland recipes while Kusina ni Don Pedro offers lowland recipes.
B. AYZ Company and BLB Company sells trending clothes and apparels.
C. Gigamon Internet Café deals with repairing of defective cellphones while Milagrosa Cellphone Repair Shop
offers cellphone and laptop repairs
D. Tanachi Corporation and Lakandula Corporation vends cars and motorcycles parts.
50. It refers to a motivating force that compels action for its satisfaction.
A. Service
B. Product
C. Want
D. Need
51. Baron is engaged in organic farming. He harvested his pechay and set to sell it online. Which of the following can he
use to emphasize the benefit of consuming organic pechay?
A. Imported Large Variety
B. 100% healthy (free from pesticides and synthetic fertilizers)
C. Cheaper then other pechay
D. Fresh leafy vegetables
52. Louise is engaged in the selling of printed T-Shirt. A friend is looking for a t-shirt that is comfortable to wear even
when the weather is hot. What feature of the product should Louise emphasize to her friend?
A. 100% Cotton
B. Export Quality
C. Cheap
D. Colorful
53. Which of these is an example of a demographic factor?
A. City
B. Zip Code
C. Income
D. Climate
54. "Entrepreneurship a kind of behavior that includes : initiative taking, organizing or reorganizing of social economic
mechanisms to turn resources and situations to practical account and the acceptance of risk failure."
A. Shapero
B. Joseph Scumpeter
C. Robert Rostandt
D. Frank Knight
55. Which of these is an example of a service product?
A. Alcohol
B. Massage
C. Pencil
D. Laptop
56. Which of the following strategy is the best to win customer on your side if your product or service is the same to
what is existing in the market place?
A. If they purchased worth of ₱1,000 they will be given freebies.
B. Any products worth ₱1-₱500 are buy 1 take 1.
C. Free delivery if they purchased items worth ₱1,000.
D. If they bought worth ₱500, they will be given 1 raffle coupon.
57. This is a quantitative and qualitative assessment of a market.
A. Quality Analysis
B. Competitor Analysis
C. Customer Analysis
D. Market Analysis
58. It is an intangible item, which arises from the output of one or more individuals.
A. Product
B. Consumer
C. Service
D. Goods
59. What information would you use to get the price the customers are willing to pay?
A. Age
B. Salary
C. Occupation
 D. Religion
60. These are products that are manufactured to last a long time.
A. Consumables
B. Durables
C. Semi-consumables
D. Industrial Goods
61. Why is packaging important?
A. It associates the product with its competitors
B. It helps promotes the product
62. It is a dynamic process of creating incremental wealth
A. Entrepreneurship
B. Consumer
C. Entrepreneur
D. Investment