Entrepreneurial Mind Mid Term Long Quiz PDF

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PAMANTASAN NG LUNGSOD NG MUNTINLUPA College of Business Administration Entrepreneurial Mind Quiz A.Y 2019 – 2020 1st Semester

1. On contemporary views on entrepreneurship. According to Lloyd Shefsky entrepreneurship can be dissected into three parts; entre, pre and neur. Which of the corresponding meanings are correct? a. Entre: enter, Pre: after, Neur: new b. Entre: enter, Pre: before, Neur: nerve center c. Entre: before, Pre: after, Neur: new d. Entre: enter, Pre: after, Neur: nerve center 2. An inventor and developer of ideas, change agent, creative persistent and a class of his own, having his own value system. a. Entrepreneurship b. Businessperson c. Entrepreneur d. Business Manager 3. The word entrepreneur is of French origin from the word entreprende, which simply means? a. to undertake b. to take c. to create d. to begin 4. This refers to the economic activity of a person who starts, manages and assumes the risk of business enterprise. a. Entrepreneurship b. Business Management c. Entrepreneur d. Manager 5. In the previous decades these three does not play a dominant role. However today, the third millennium is mainly characterized by globalized trading system and the predominance of the revolutionary information technology. a. technology , globalization and trade liberalization b. technology, globalization and world trading c. technology, global warming and trade liberalization d. technology, global warming and world trading 6. Early economists recognized the essential role of the entrepreneur in ensuring the welfare of a ______________________. a. free global trading b. sustainable manufacturing c. free enterprise economic system d. raw materials sustainability 7. Entrepreneurship also brings the following socio-economic benefits; except: a. Promotes self help and unemployment b. Mobilizes Capital c. Increase unemployment d. Enhances equitable distribution of income and wealth.

8. A scheme aimed at improving the living standards of the nation’s citizenry. a. Economic Development b. Equal Opportunity c. Entrepreneur Perspective d. Job Creation 9.

The following are tasks of an entrepreneur; except? a. Providing product and services for customers and producers b. Providing capital and resources for future entrepreneurs c. Providing demand for suppliers’ product and services d. Providing training facilities for future entrepreneurs

10. This refers to the discovery or devising of new product and processes. a. Innovation b. Invention c. Development d. Creation 11. This refers to the process by which the ideas and principles generated from the stage of invention are embodied in concrete products and techniques. a. Innovation b. Invention c. Development d. Creation 12. This refers to the actual introduction of a new product or process. a. Innovation b. Invention c. Development d. Creation 13. It happens when the entrepreneur starts to question the feasibility of an idea, product, or service. This is a very important stage that the entrepreneur must consider. If he errs in his evaluation, he will fail before considerable growth is attained. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage 14. Formation of the business, generation of necessary capital and purchase of facilities and equipment are some activities undertaken during the____________________. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage

15. It follows after establishing feasibility; activities will be on a small scale. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage

16. This is the stage where the skills of entrepreneur are less needed. Instead the skilled manager begins to take over. This is when management is structured, long term financing is established, and facilities planning are undertaken. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage 17. A small business may be defined under the __________________ as one having total assets that fall within a certain bracket. Its disadvantage is that the asset values are affected by inflation. a. Total asset approach b. Market share approach c. Share capital approach d. None of the above 18. Under the ___________________ , small business may be defined as one which is independently owned and operated and which is not dominant in its field of operation. a. Total asset approach b. Market share approach c. Share capital approach d. None of the above 19. The following are types of small business except___________________. a. Manufacturing b. Service c. Wholesaling d. General merchandise 20. It is a type of small business that is involved in the conversion of raw materials into product needed by society. a. Manufacturing b. Service c. Wholesaling d. General merchandise 21. Repair, entertainment and recreation, education, hotels and motels are some of the examples of small business under _________________________? a. Manufacturing b. Service c. Wholesaling d. Retailing

22. This refers to the activities of persons or establishments which sell to retailers and merchants. a. Manufacturing b. Service c. Wholesaling d. Retailing 23. It covers all activities involved in the sales of goods and/or services to the final consumers. a. Manufacturing b. Service c. Wholesaling d. Retailing

24. It engages in the construction of buildings whether for private individuals, firms or the government. a. Manufacturing b. General construction firms c. Building and construction d. Master construction plans 25. The following are the disadvantages of operating a small business, except__________________ a. Uncertainty of income b. Risk of losing your entire capital investment c. Unlimited income d. Lower quality of life until the business get established 26. The following are characteristics of a small business, except__________________________. a. Small Capital Requirement b. Suppliers of products and services to other business c. Distributors of products and services of others businesses d. Supporters of government 27. The following are economic importance of a small business, except____________________. a. Supporters of government b. Providers of employment c. Providers of economic opportunities for entrepreneurs. d. Independent Management 28. Enjoys a fixed working schedule. The pay he receives, however, is limited and dependent to a large extent on industry norms and financial capability of the company. a. Professionals b. Small Business Operator c. Manager d. Employee 29. It is the study of moral obligation involving the distinction between right and wrong? a. Ethics b. Organizational Ethics c. Ethical Behavior d. Organizational Behavior 30. The rules about how entrepreneurs ought to behave are referred to as _________________. a. Ethics b. Organizational Ethics c. Ethical Behavior d. Business Ethics 31. The ethical behavior required of entrepreneurs is determined by______________________. a. Individual differences b. The situation c. Reward system d. The Public 32. Ethical behavior whether by a person or a business entity, is influenced by any or a combination of the following, except________________________. a. The situation b. Reward system c. Individual differences d. The Public

33. The following are certain ways of encouraging ethical behavior among employees, except ____________________. a. Adaptation of code of ethics b. Institution of reward and punishments concerning ethical behavior c. Provision of training in ethics for employees d. None of the Above 34. A formal document indicating the entrepreneurship’s adapted principle of appropriate behavior a. Employment’s Contract b. Memorandum of Agreement c. Consti & By-laws d. Code of Ethics 35. Rewards and punishments can be positive or negative reinforcement in encouraging ethical behavior; the following are forms of punishment, except________________________. a. Demotion b. Suspension c. Reprimand d. Promotion 36. It may arise even when ethical conduct of personnel is concerned, it is therefore important for entrepreneurships to adapt a program in resolving them. a. Conflicts b. Accident c. Unethical Behavior d. Disrespect 37. A way of addressing unethical behavior through dismissal, demotion or suspension and rewarding ethical behavior through promotion, citation and gifts. a. Rewards and Punishments b. Top Management Support c. Ethical Review Committee d. Code of Ethics 38. This committee is usually composed of company employees as well as some who are not employed by the company. It provides advice to the entrepreneur and his staff concerning sensitive ethical issues. a. Business Review Committee b. Ethics Review Committee c. Small Business Committee d. None of the above 39. When ethical abuses are committed the most probable victims are _____________________. a. Employees b. Customers c. Business Associates. d. Investors 40. Consumers expected that the products and services that they buy will do them no harm. a. Right to be safe b. Right to be heard c. Right to be informed d. Right to choose

41. Firms that intend to adhere to business ethics should strive to protect the rights of the consumers in choosing what products and services they need and intend to purchase. a. Right to be safe b. Right to be heard c. Right to be informed d. Right to choose 42. Customers have the right to communicate their concerns to entrepreneurship they patronize. a. Right to be safe b. Right to be heard c. Right to be informed d. Right to choose 43. An ethical entrepreneur sees to it that adequate measures are adapted to prevent accidents from happening in the factory and in the office. a. Workplace Safety b. Quality of Life Issues c. Business Policy d. Avoiding Discrimination 44. Many employees are burdened by problem about maintaining a good balance between work and family. a. Workplace Safety b. Quality of Life Issues c. Business Policy d. Avoiding Discrimination 45. Everyone has the right to work in a place equally, and to be treated fairly regardless of their age, gender and status in life. a. Workplace Safety b. Quality of Life Issues c. Business Policy d. Avoiding Discrimination 46. Refers to unwelcome sexual advances, request for sexual favors and other verbal or physical contact of a sexual nature. a. Physical Abuse b. Sexual Harassment c. Unethical Action d. Intimidation 47. Relationship that spring from suppliers, agents, and various types of middlemen. a. Relationship with Customer b. Relationship with Inventors and Financial Community c. Relationship with your Personnel and employees d. Relationship with Business Associates 48. The country’s financial system survives partly because investors and other players have placed a certain degree of trust in firms they deal with. a. Relationship with Customer b. Relationship with your Personnel and employees c. Relationship with Inventors and Financial Community d. Relationship with Business Associates

49. There are two complementary factors that determine success or failure in an entrepreneurship; these factors are: __________________________. a. Environment and personality of the entrepreneur b. Moral and Values of the entrepreneur c. External and Internal Environment d. Religion and Culture of the entrepreneur 50. Each personality type has a corresponding type of job that fits it. A certain personality, however, may fit in more than one type of job, although the level of fitness will be different with each job. a. Statement one is true b. Statement two is true c. Both statements are true d. Both statements are false 51. It refers to the pattern of characteristic that distinguishes one person from another. a. Values b. Character c. Personality d. Culture 52. This individual prefers activities involving aggressive behavior and physical exertion requiring skills, strength and coordination; e.g farming, and mining. a. Social b. Conventional c. Artistic d. Realistic 53. This person is expressive, non-conforming, original and introspective; e.g song writer and novelist a. Social b. Investigative c. Artistic e. Enterprising 54. This person is analytical, curious, methodical and précis; e.g inventor and forensic a. Social b. Artistic c. Investigative d. Realistic 55. This person enjoys verbal activities to influence others and to attain power and status; e.g manager and entrepreneur. a. Social b. Realistic d. Conventional f. Enterprising 56. This person enjoys the systematic manipulation of data, filing of records and reproducing of materials; e.g I.T and programmer. a. Realistic b. Conventional c. Enterprising d. Artistic

57. Characteristic of an entrepreneur that involves solving problem and making decision. a. Technical Knowledge b. Communication Skills c. Human Relation Ability d. Thinking Ability 58. This pushes entrepreneurs to pursue their chosen course without relenting even in the face adversity. a. Self-Confident b. Drive c. Stubbornness d. Reasonable Risk-taker 59. The ability to understand and be understood makes it easier for the entrepreneur to transact business with customers, bankers, and government officials. a. Technical Knowledge b. Ability to Communicate c. Human Relation Ability d. Thinking Ability 60. Operating an entrepreneurship requires the performance of major and minor tasks, familiarization with the process are vital. a. Technical Knowledge b. Accountable c. Goal-setter d. Thinking Ability 61. Those who aspire for benefits like profits must reckon with possible losses. There are instances however when the possibility of benefits far outweighs the risk involved. a. Reasonable Risk-taker b. Communication Skills c. Ability to Communicate d. Thinking Ability 62. It directs one’s attention to a specific target and encourages one to exert effort toward achieving something specific. It is a very useful motivational tool, especially those related to accomplishing the objectives of entrepreneurs. a. Self-Confident b. Reasonable Risk-taker c. Goal-setter d. Accountable 63. A person’s belief in his ability leads him to actual performance and eventual success. a. Technical Knowledge b. Accountable c. Thinking Ability d. Self-Confident 64. The success of the enterprise will depend much on the willingness of the subordinate to comply with the wishes of the entrepreneur. a. Technical Knowledge b. Self-Confident c. Accountable d. Thinking Ability

65. The following are what motivates people to be an entrepreneur; except___________________. a. The desire to be one’s own boss b. The desire to create one’s own job security c. The desire for attention and recognition d. The desire to improve one’s quality of life 66. In new ventures, business ideas are fully emphasized during ________________________. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage 67. In this stage of a new venture both human resource and capital are limited. a. Prestart – up stage b. Start – up stage c. Early growth stage d. Late growth stage 68. This Republic Act is otherwise known as the “Go Negosyo Act”. a. R.A 10544 b. R.A 10545 c. R.A 10644 d. R.A 9178 69. The President who signed the “Go Negosyo Act”? a. President Benigno S. Aquino lll b. President Gloria Macapagal Arroyo c. President Ejercito Estrada d. President Rodrigo Duterte 70. The “Go Negosyo Act was signed ________________________? a. August 15, 2014 b. July 15, 2014 c. June 14, 2015 d. September 14, 2015 71. The following are the basic policy of the “Go Negosyo Act” except ___________________. a. Increase government budget b. Foster national development c. Promote inclusive growth d. Reduce poverty 72. The ______________________shall be responsible for promoting ease of doing business and facilitating access to services for MSMEs. a. Negosyo Center b. MSMED Council c. Department of Trade and Industry d. Department of Interior and Local Government 73. Who should establish the Negosyo centers in the locality? a. Negosyo Center b. MSMED Council c. Department of Trade and Industry d. Department of Interior and Local Government

74. MSMED is an acronym which stands for ____________________________. a. Micro, Small and Medium Enterprise Development b. Macro, Small and medium Enterprise Development c. Micro Sari-Sari Store and Market Enterprise Development d. None of the above 75. The members of MSMED Council are __________________________. a. Secretary of Agriculture b. Secretary of Department of Interior and Local Government c. Representative from the women sector designated by the Philippine Commission on Women d. All of the above 76. Negosyo Centers was established thru? a. MSMED Council b. DTI c. DILG d. COA 77. This republic Act is otherwise known as Barangay Micro Business Enterprise. a. R.A 10544 b. R.A 9178 c. R.A 10444 d. R.A 9781 78. Who is the Senator who Authored the “Go Negosyo Act” a. Senator Manny Villar b. Senator Grace Po c. Senator Bam Aquino d. Senator Miriam Defensor Santiago 79. The following are function of the Negosyo Center except: a. Accept and facilitate all new registration and renewal application of MSMEs b. Establishing MSMED Council c. Coordinate with the respective local government units and liaise with concerned d. Support private sector activities relating to MSMEs development 80. This Republic Act otherwise known as the “Magna Carta for Micro, Small and Medium Enterprises. a. R.A 9501 b. R.A 9178 c. R.A 10644 d. R.A 10544 Prepared by: Mr. Kristofferson Aricaga...