NAME: ______________________________ 8) It pertains to a type of entrepreneur who has prior

DATE: _______________ SCORE: ___________ business ownership experience.

a) Serial Entrepreneur
I. MULTIPLE CHOICE (15 X 2)
b) Novice Entrepreneur
Choose the letter of the best correct answer.
c) Habitual Entrepreneur
1) Which of the following terms is referred as “agent of d) Nascent Entrepreneur
change and growth in a market economy”? 9) Who proposed the difference between the profits of
a) Internationalization entrepreneurship from the profits of capital
b) Globalization ownership?
c) Entrepreneurship a) Peter Drucker
d) Entrepreneur b) Abraham Maslow
2) Which of the following common themes in the c) Jean Baptiste Say
definitions of entrepreneurship involves creating new d) Joseph Schumpeter
ideas and approaches within an organization? 10) What type of entrepreneur is an individual who
a) Creating value continues closing an original business and then
b) Innovation establishing another new business?
c) Organization a) Serial Entrepreneur
d) Growth b) Habitual Entrepreneur
3) It pertains to one of the common themes in the c) Nascent Entrepreneur
definitions of entrepreneurship that includes d) Novice Entrepreneur
transforming resources to products with value to the 11) What is the first stage in entrepreneurial process?
markets. a) Developing the plan and setting up the company
a) Individual b) Determining the resources required and
b) Creating value implementing the plan
c) Organization creation c) Acquiring financial resources
d) Innovation d) Conducting an opportunity analysis
4) Which of the following describes the importance of 12) Which of these did NOT contribute to the historical
entrepreneurship as a contributor to economic perspective on entrepreneurship?
development through increase in tax revenues, job a) Adam Smith
creation and product – process innovations? b) Richard Cantillon
a) Job Creation c) Jean Baptiste Say
b) Number of New Start-ups d) Joseph Schumpeter
c) Innovation 13) Which of these is NOT a common theme in the
d) Transformation definitions of entrepreneurship?
5) What type of entrepreneur is an individual who is in a) Cooperative
the process of starting a new business? b) Innovation
a) Novice Entrepreneur c) Individual
b) Nascent Entrepreneur d) Process
c) Serial Entrepreneur 14) He coined the term entrepreneur to describe a “go-
d) Habitual Entrepreneur between” or a “between-taker”.
6) It is a type of entrepreneur referring to an individual a) Adam Smith
who retains an original business and builds a portfolio b) Joseph Schumpeter
of additional businesses. c) Peter Drucker
a) Personality Profile of Entrepreneur d) Richard Cantillon
b) Portfolio Entrepreneur 15) This theme in the definition of entrepreneurship
c) Entrepreneur emphasizes the need for someone to lead to get the
d) Demographic Profile of Entrepreneur entrepreneur venture started.
7) Who is the writer that described entrepreneurship as a) Innovation
something that involves maximizing profit and that b) Profit
entrepreneurs recognize and act on opportunities? c) Process
a) Jean Baptiste Say d) Organization creation
b) Peter Drucker II. MODIFIED TRUE OR FALSE (10 x 2)
c) Joseph Schumpeter
d) Abraham Maslow
ENTREPRENEURSHIP QUIZ 1 STI COLLEGE SURIGAO
Write TRUE if the statement is correct, otherwise write TEST II
your SURNAME and the correct answer for the 1. _____________________________________
underlined word. 2. _____________________________________
3. _____________________________________
1. One stage in the entrepreneurial process is
developing the plan and setting up the company which 4. _____________________________________
includes screening of business ideas and 5. _____________________________________
opportunities as well as creating the vision of the
6. _____________________________________
company.
2. Entrepreneurs are people who initiate and actively 7. _____________________________________
operate an entrepreneurial venture. 8. _____________________________________
3. Small businesses are organizations having
9. _____________________________________
profitability and growth as the main goals which are
achieved through constant innovation, seeking new 10. _____________________________________
opportunities and being a risk-taker.
4. Peter Drucker described that entrepreneurship TEST III. ESSAY
involves maximizing profit; entrepreneurs recognize _____________________________________________
and act on opportunities. _____________________________________________
5. In the early part of 18th century, Adam Smith, coined
the term entrepreneur who was then used to describe _____________________________________________
a “go-between” or a “between-taker”. _____________________________________________
6. Innovation involves the process of creating, changing, _____________________________________________
experimenting, transforming, and revolutionizing.
_____________________________________________
7. Growth is a process of transforming resources to
products that important to the market. _____________________________________________
8. Entrepreneur came from the French word, _____________________________________________
“entreprendre” which pertains to individuals who
_____________________________________________
undertook the risk of the new enterprise.
9. In the entrepreneurial process, acquiring financial _____________________________________________
resources means that options are discussed such as _____________________________________________
to sell or merge, go public, and form strategic alliance.
_____________________________________________
10. Uniqueness refers to creating new ideas and
approaches within an organization. _____________________________________________
_____________________________________________
III. RESTRICTED ESSAY (2 x 5 points)
EXPLAIN WHAT IS BEING ASKED.
_____________________________________________
1. What are the rewards and challenges of being an
entrepreneur? _____________________________________________
2. What is the importance of entrepreneurship in the _____________________________________________
economic development of the world?
_____________________________________________
ANSWER SHEET _____________________________________________
TEST I _____________________________________________
1. ____ 12. ____
_____________________________________________
2. ____ 13. ____
3. ____ 14. ____ _____________________________________________
4. ____ 15. ____ _____________________________________________
5. ____ _____________________________________________
6. ____
7. ____ _____________________________________________
8. ____ _____________________________________________
9. ____ _____________________________________________
10. ____
11. ____

ENTREPRENEURSHIP QUIZ 1 STI COLLEGE SURIGAO