MIDTERM EXAMINATION IN ENTREPRENEURSHIP

Name: _______________________________________________ Grade & Section: _______

Test I: Multiple Choice: Read carefully the following statements. Choose the correct answer on the
given choices for each item. Write your answer before the number. Use Capital Letters only. Erasures
means wrong.
1. They are the individuals who are alert to profitable opportunities for the exchange of goods and
services?
a. Buyers b. Entrepreneur c. Family d. Kids
2. This will strengthen the domestic economy by developing new industries and generate local
employment for our people.
a. Agri-business b. Buy and Sell c. Entrepreneurship d. Loan
3. Entrepreneurs must believe in their own ability. What is this?
a. Ambition b. Goal c. Objectives d. Self-Efficacy
4. A businessman or businesswoman has to be sure of him or herself about reaching the set targets
of success. Diffidence does not help. Self-image is enhanced, when one is confident. What core
competency is shown in the statement?
a. Ambition b. Confidence c. Perseverance d. Selfless
5. The needs and wants of customers are properly identified and these are propelling reason for him
to take the opportunity to make profit.
a. The entrepreneur as a Marketing Man
b. The entrepreneur as a Missionary
c. The entrepreneur as a Goal Driven
d. The entrepreneur as a Plan
6. All are job opportunities in entrepreneurship except one.
a. Franchise b. online seller c. store d. teller in bank
7. What do we call the description and characteristics of the person or company that is likely to
purchase a product or service?
a. Business plan c. Customer Profile
b. Understanding Competition d. Market Segment
8. What should we do to determine the problems that an entrepreneur might face because they have
the same product? This will also help you define your target market.
a. Business plan c. Customer Profile
b. Understanding Competition d. Market Segment
9. Groups of customers within a large market who share common characteristics are known as?
a. Business plan c. Customer Profile
b. Understanding Competition d. Market Segment

10. The people who buy goods to the market are known as?
a. Business people b. Customers c. Seller d. Onliners
11. All except ONE are ways to meet the market needs.
a. To Know Your Target Market.
b. To Cater Your Design To Your Market
c. To Speak only with your Language
d. To Know Your Target Markets Needs and Satisfy Them
12. When a product returns a profit that is sufficient to provide a return to the business owner while also
meeting its commitments to business creditors then the product/business can survive and is
capable of being successful.
a. Customer requirement b. Profitability c. Target goal d. Viability
13. A business that generates after it pays all expenses directly related to the generation of the
revenue, such as producing a product, and other expenses related to the conduct of the business
activities wherein without this the business will face bankruptcy.
 a. Customer requirement b. Profitability c. Target goal d. Viability
14. A business that generates after it pays all expenses directly related to the generation of the
revenue, such as producing a product, and other expenses related to the conduct of the business
activities wherein without this the business will face bankruptcy.
a. Customer requirement b. Profitability c. Target goal d. Viability
15. You start a water business in your town because most of the people in that area is drinking mineral
water. You thought that because you are the only one who will start that business that is why you
increase the price beyond the prescribe amount without realizing that there are retailers of waters in
nearby store. The scenario shows that the entrepreneur forgot to think about?
a. competition b. Market Needs c. Segmentation d. Target Market
16. The following statements describes entrepreneurship, except
a. Entrepreneurship involves a continuous search for new ideas.
b. Entrepreneurship is a science of converting ideas into business.
c. Entrepreneurship refers to the concept of developing and managing a business venture in order
to gain profit by taking several risks in the corporate world.
d. Entrepreneurship is making sure a company is making profit but doesn’t focus on innovation.
17. Entrepreneurship is an execution of
a. ideas b. insight c. instinct d. intelligence
18. Entrepreneurship happens when a person identifies an opportunity and introduce something new
where he can make a profit.
a. True b. False c. Maybe d. I don’t know
19. They are innovators, willing to take risks and generate new ideas to create unique and potentially
profitable solutions to modern-day problems. They are those who undertake the risk of new enterprises.
a. Doctors b. Engineers c. Frontliners d. Entrepreneurs
20. When an entrepreneur does things before being asked, he has
a. initiative b. persuasion c. perseverance d. self-confidence
21. When an entrepreneur introduces innovative solutions to any obstacles and problems in the
enterprise, he is a
a. planner b. proactive c. risk-taker d. problem-solver
22. When an entrepreneur convinces customers and financiers to patronize his business, he has
a. initiative b. persuasion c. Perseverance d. self-confidence
23. It is the return or compensation to the entrepreneur for taking on the risk of developing an idea into
an actual business venture.
a. Profit b. Sales c. Market d. Product
24. Steve Jobs created a whole new industry for gadgets for music and boosted the music industry with his
invention of the iPod and the downloading of music through iTunes. Apple, the company he founded, saw its
sales grow by leaps and bounds with these products. This type of entrepreneurial enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept giving rise to a new business

25. Mang Inasal took the country by storm because its founder correctly perceived a need of people for
affordable, quick-served inihaw or grilled chicken Thus, this business was founded and flourish, to the
extent of offering very real competition to Jollibee’s popular Chicken Joy. This type of entrepreneurial
enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept but giving rise to a new business
26. Dean of Clean is a laundry business which had three branches in Metro Manila, mostly in the center and
south areas of the metropolis. The son of the owner, while still in college, was permitted by his parents to
set up a fourth branch in Quezon City. This type of entrepreneurial enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept but giving rise to a new business

27. Studying a problem, identifying its alternatives, comparing alternative in terms of cost and benefit
implication and choosing the best alternative help in sharpening the decision making skills of an
entrepreneur, thus, entrepreneurship is
a. creation of organizations
b. a means of economic development
c. development of managerial capabilities
d. a means of improving standard of living

28. When entrepreneurs assemble and coordinate physical, human and financial resources and direct them
towards achievement and objectives through managerial skills, entrepreneurship results in the
a. economic development
b. creation of organizations
c. improvement of standard of living
d. development of managerial capabilities

29. Possession of luxury cars, computers, mobile phones, rapid growth of shopping malls, etc. all these are
due to the efforts of entrepreneurs therefore, entrepreneurship is
a. creation of organizations
b. a means of economic development
c. development of managerial capabilities
d. a means of improving standard of living

30. When a person creates and uses innovative ideas and maximizes output from given resources,
entrepreneurship is
a. creation of organizations
b. a means of economic development
c. a means of improving standard of living
d. development of managerial capabilities

31. Who recommend solutions to company problems?

a. Fundraiser b. Sales Manager c. Business Reporter d. Business Consultant
32. Who represent a company for a product or service?
a. Fundraiser b. Sales manager c. Business Reporter d. Business consultant
33. Who is raising money for a cause?
a. Fundraiser b. Sales manager c. Business Reporter d. Business Consultant
34 Who understand business procedures and practices?
a. Fundraiser b. Sales manager c. Business Reporter d. Research and Development Director
35. Who shares experiences and insights about business and success?
a. Teacher b. Talent Recruiter c. Business Reporter d. Research and Development Director

TEST II. (15 points)

Complete the table below showing Mr. Dela Cruz's catering service business transactions over four
months. His starting capital is P200,000. Compute the Return on Investment (ROI), Return on Sales
(ROS), and the Payback Period.

Month Gross Sales Cost of Goods Net sales Operating Net

sold Expenses Income/Net
Profit
January 250,000 170,000 50,000
February 215,000 35,000 20,000
March 150,000 70,000 30,000
April 220,000 145,000 50,000
Total
23. Who launch a company and start a new venture in a family of enterprise or commercializing a
technology?
a. Sales Managers
b. Talent Recruiter
c. Business Consultant
d. New Venture Creator
24. Ariel is working in a manufacturing company, he introduced a unique product in the market for sale.
What is the job of Ariel?
a. Sales Manager
b. Talent Recruiter
c. Business Consultant
d. New Venture Creator
25. One of the restaurants in the city is facing bankruptcy due to the extended Enhanced Community
Quarantine caused by COVID-19. The owner of the restaurant is planning either to invest with another kind
of business or to permanently stop on running the business. Who is the best person that could help the
owner?
a. Sales Manager
b. Talent Recruiter
c. Business Consultant
d. New Venture Creator
26. Anna is a graduate of Senior High School. She started baking her own discovered pastry and sells it
until such time that she launched a small bread and pastry in the town. What is the job of Anna?
a. Sales Manager
b. Talent Recruiter
c. Business Consultant
d. New Venture Creator
27. Jack Ma is the co-founder of Alibaba, an online e-commerce company. If Jessica Soho will be given a
chance to interview Jack Ma regarding his success story in business, she is a
a. Sales Manager
b. Talent Recruiter
c. Business Reporter
d. New Venture Creator
28. If you will raise fund for a certain organization, you are a
a. Fundraiser
b. Sales manager
c. Business consultant
d. Business Reporter
29. Mr. X is passionately sharing his experiences and insights in business. He also encouraging his listeners
to maximize their full potential to profitable ventures. Who do you think is Mr. X?
a. Teacher
b. Talent Recruiter
c. Business Reporter
d. New Venture Creator
30. Entrepreneurship can be a long-term professional journey you may determine based
on your passions. Therefore, entrepreneurship can be a
a. habit
b. career
c. practice
d. side line

Signature and name of Parents/Guardian:

Answer key
1. B
2. C
3. D
4. B
5. A
6. D
7. D
8. B
9. D
10. B
11. C- 12d
12. D
13. D
14. B
15. D
16. D
17. C
18. A
19. A
20. B
21. A
22. D
23. A
24. A
25. D
26. B
27. C
28. A
29. C

1. Product
2. Price
3. Positioning’
4. Price
5. Place
6. Promotion
7. People
8. Brand name
9. Logo
10. Logo
11. Manpower
12. Method
13. Machine
14. Materials
15. Fliers/leaflets
16. Specific Goal Setting.
17. Self-Efficacy
18. Need for Achievement
19. Ambition
20. Willngness to Learn
21. Strong Initiative
22. Adaptability and Flexibility
23. Willingness to take risks
24. Interpersonal skills
25. Entrepreneur is a missionary
26. Goal driven
27. Start small to become big
--27Economic want
28. Economic need
29. Market research
30. Direct Competition
31. Indirect Competition
32. USP
33. Value Proposition
34. Brand Identity
35. Marketing
III.
1. T
2. T
3. F
4. T
5. T
6. T
7. T
8. T
9. F
10. F
11. T
12. T
13. F
14. F
15. F
16. F
17. F
18. T
19. T
20. T