GENERAL VITO BELARMINO NATIONAL HIGH SCHOOL

Kalubkob, Silang, Cavite

ENTREPRENEURSHIP
MIDTERM EXAMINATION

PART I
Direction: Read the sentence/s carefully and write the letter of the correct answer.
1. As a businessman, Mr. Caesar Lim wants to hire people to help him run his business. What word/s describe
the entrepreneurial development of Mr. Lim?
a. The Self-Employed c. The Leader
b. The Manager d. The Investor

2. As everything in this world change, terms or terminologies in entrepreneurship also evolved. Which of the
following is NOT a new term in the field?
a. Intrapeneur c. Extrapreneur
b. Sociable d. Technopreneur

3. Henry Go address issues, problems, and challenges before they come rather when they already happened.
Which of the following best describes Mr. Go?
a. Proactive c. Decisive
b. Specialist d. Balanced

4. Northern Builders as a leading construction company established relationships among workers, leaders, and
to their customers. What common trait do the company possess?
a. Balanced c. Specialist
b. Agents of change d. Sociable

5. Entrepreneurs at this point take note of interesting trends in their environment.

a. Developing a business plan c. Opportunity spotting and assessment
b. Running the business d. Determining the capital needed

6. A method of generating ideas that allows the participants to share creative ideas.
a. Brainstorming c. Brainwriting
b. Focused group discussion d. Internet brainstorming

7. Economic factors play a vital role in the scanning of marketing environment. Entrepreneurs should take note
of the following EXCEPT.
a. Inflation rates c. Fiscal policies
b. Labor costs d. Buying habits

8. Ecological factors served as a guide for the entrepreneurs if the business they are entering will comply with
the environmental standards. Which of the following is an example of the things to be considered with these
factors?
a. Recycling c. Emphasis on safety
b. Business cycle d. Trade flows

9. Demographic factors are the characteristics of people in the target market. Entrepreneur should take note of
the following factors EXCEPT.
a. Social classes c. Minorities
b. Family size d. Bureaucracy

10. Simply defined as what business should do in the future.

a. Vision statement c. Value proposition
b. Mission statement d. Unique selling proposition
11. The reason why a customer should buy a certain product or avail service to you business.
a. Vision statement c. Value proposition
b. Mission statement d. Unique selling proposition

12. Mr. Johann Lee addresses the customer’s wants and desires in selling with his products. Which of the
following refers to the way on how he will sell the product or service?
a. Vision statement c. Value proposition
b. Mission statement d. Unique selling proposition

13. The process of positively improving an existing product or service and a key driver of economic growth.
a. Innovation c. Marketing
b. New trends d. Entrepreneurship

14. After a thorough study, Ms Elleanna discovered that her business idea is feasible enough. Which of the
following entrepreneurial process refers to the “pushing through” of chosen business?
a. Business implementation c. Running the business
b. Opportunity attractiveness test d. Opportunity seizing

15. In this stage, the entrepreneur determines what are the feasible products and/or services that will perfectly
suit the opportunity
a. Concept stage c. Test marketing stage
b. Idea stage d. Product development stage

16. In this stage, the entrepreneur leverages on the information generated from the prospective customers via
concept stage.
a. Concept stage c. Test marketing stage
b. Idea stage d. Product development stage

17. This stage validates the work done to measure the success in the commercialization of the product or
service.
a. Concept stage c. Test marketing stage
b. Idea stage d. Product development stage

18. These are projected new opportunities that can possibly affect the new business while it is running.
a. New discoveries c. Futuristic opportunities
b. Innovations d. Inventions

19. They are entrepreneurs in a large corporations who are tasked to think, establish, and run a new big idea or
project.
a. Extrapreneur c. Intrapreneur
b. Intropreneur d. Technopreneur

20. Demographic factors are the characteristics of people in the target market. Entrepreneur should take note of
the following factors EXCEPT.
a. Social classes c. Minorities
b. Family size d. Bureaucracy

21. Northern Builders as a leading construction company established relationships among workers, leaders, and
to their customers. What common trait do the company possess?
a. Balanced c. Specialist
b. Agents of change d. Sociable
22. Mr. Johann Lee addresses the customer’s wants and desires in selling with his products. Which of the
following refers to the way on how he will sell the product or service?
a. Vision statement c. Value proposition
b. Mission statement d. Unique selling proposition

23. The size the arena where the entrepreneur’s business will play.
a. Market size c. Market space
b. Market share d. Market universe

24. It is a comprehensive process of understanding the customers’ intricacies and the industry the revolved in.
a. Marketing plan c. Marketing research
b. Marketing strategy d. Marketing intelligence

25. The approximate number of customers that will buy the product or avail the service.
a. Market size c. Market share
b. Potential market d. Market profit

26. It is considered as the lifeblood of the business.

a. Manpower b. Customer c. Businessman d. Entrepreneurs

27. They are the customers who don’t have enough purchasing power or have fewer demands.
a. Primary target market c. Essential target market
b. Secondary target market d. Ancillary target market

28. Market segmentation is the process of grouping similar or homogeneous customer according to the
following EXCEPT.
a. Psychographic c. Geographic
b. Ethnographic d. Behavior

29. Can only be obtained through meticulous market segmentation process.

a. Market analysis c. Marketing plan
b. Market intelligence d. Marketing strategy

30. Socioeconomic variables include the following EXCEPT.

a. Income range c. Religion
b. Social class d. Inclination

31. It is .face-to-face contact between the researcher/entrepreneur and a respondent where the researcher asks
pertinent questions that will give him significant information about the problem to be solve
a. Interview c. Observation
b. Focus Group Discussion d. Traditional survey

32. An online tool that tracks the performance of a web by checking the number of visitors and the contents
they usually access.
a. GPS Technology c. Traffic Counters
b. Web Analytics d. Visitors Log

33. Ecological factors served as a guide for the entrepreneurs if the business they are entering will comply with
the environmental standards. Which of the following is an example of the things to be considered with these
factors?
a. Recycling c. Emphasis on safety
b. Business cycle d. Trade flows
34. Observation is one of the preferred and practical methods of generating ideas. Which of the following is
NOT an example of machine observation?
a. Barcode scanners c. CCTV
b. Traffic Counters d. Mystery Shopping

35. Market segmentation is the process of grouping similar or homogeneous customer according to the
following EXCEPT.
a. Psychographic c. Geographic
b. Ethnographic d. Behavior

36. It is widely accepted strategic marketing tool in formulating marketing tactics for a product or service
a. Marketing mix c. Quantitative research
b. Qualitative research d. Marketing research

37. Any physical good, service, or idea that is created by an entrepreneur.

a. Business c. Market
b. Venture d. Product

38. Promotion involves presenting the products or services to the public. Key marketing messages can be he
following EXCEPT.
a. Value proposition c. Business image
b. Product image d. Owners image
39. This is a type of communication that influences the behavior of a customer o choose the product or service
of the entrepreneur over the competitors
a. Promotion c. Selling
b. Advertising d. Public relations
40. This refers to setting a very high price to reflect elitism and superiority.
a. Penetration pricing c. Premium pricing
b. Product line pricing d. Competitive pricing
41. This refers to adding an extra product or service on the top of the original to generate more revenue.
a. Cost-based pricing c. Cost plus pricing
b. Optional pricing d. Bundling

42. Pricing strategy wherein the prices are initially high and then they are lowered to offer the product or service
to a wider market.
a. Bundling c. Skimming
b. Penetration pricing d. Psychological pricing

43. Reiven benchmark the prices of his products and services with his competitors. What pricing strategy did he
used?
a. Product line pricing c. Penetration Pricing
b. Competitive pricing d. Skimming

44. This refers to the identity of a company, of a product, of a service, or of an entrepreneur himself/herself.
a. Brand c. Logo
b. Packaging d. Signage

46. It is the process of developing, testing, and commercializing a product or service with the ultimate objective
of solving the problem of primary target market.
a. Prototype c. Creating prototype
b. Product development d. Validating the market
47. It is a preliminary model or sample of a new product or service ha is created to test a product concept or
service process.
a. Prototype c. Sampling
b. Testing d. Piloting

48. Which of the following is true about creating a prototype of service or product.
I. Creating a prototype enables the entrepreneur to engage in trial-and-error, provides room for
improvement.
II. Helps the entrepreneur effectively identify the market environment and issues.
III. Elicits respect from key stakeholders and customers.
IV. Provides the entrepreneur a window to test the performance and specifications of various materials.
a. I, II and III c. I, III, and IV
b. II, III and IV d. I, II, and IV

49. Lina wants to test the competitors’ product to compare and get the best practices to be applied to her new
product. Hat testing method did she used?
a. Service test c. Component test
b. Product costing test d. None of the above

50. The testing method wherein the participants provide insights about the new product or service.
a. Safety test c. Brainstorming
b. Focus group discussin d. Component test

51. After a thorough study, Ms Elleanna discovered that her business idea is feasible enough. Which of the
following entrepreneurial process refers to the “pushing through” of chosen business?
a. Business implementation c. Running the business
b. Opportunity attractiveness test d. Opportunity seizing

52. The major differentiator of the entrepreneur against the competitors.

a. Brand name c. Company logo
b. Company name d. Packaging

53. These machines help researchers understand the purchase behavior of the customers by reading the product
codes and generate relevant sales information.
a. GPS Technology c. Traffic Counters
b. Barcode Readers d. Visitors Log

54. It is the result of maintaining satisfied customers.

a. Loyalty c. Excellency
b. Rewards d. Branded

55. It represents the day-to-day operations of a business.

a. Methods c. Flow chart
b. Process d. None of the above

56. The process of translating raw materials into finished goods that are acceptable to the customer’s standards.
a. Process c. Manufacturing
b. Creation d. Packaging

57. Mr. Suazon prepared a flowchart of his business. What is the other term used for flowchart in the service
businesses?
a. Standard operating procedure c. Service blueprint
b. Input, output and process d. Service method
58. Hiring suitable employees for the job needed, entrepreneurs will have to look for the following criteria
EXCEPT.
a. Educational background c. Work experience
b. Ethnicity d. Work attitude

59. In businesses it is described as the “best friend” of manpower in producing goods and offering services.
a. Machines c. Robots
b. Matreials d. Models

60. It is the output of a sale wherein the sales price exceeds the cost to produce the product or render the service.
a. Revenue c. Collateral
b. Capital d. Net profit

Prepared by: Checked by: Approved by:

CHRISTIAN V. BATO DIGNA C. ROMASANTA FLORDELIZA A. DELA ROSA

Subject Teacher SHS Coordinator Principal II