- 1. determine which part of the
total potential market will be served by the firm.
A) Determination of the market share B) Definition of the Market C) Pricing strategy. D) Positioning Strategy.
- 2. How the company’s products or services will be promoted is an important component of
the marketing strategy.
A) Pricing strategy. B) Promotion strategy C) Positioning Strategy D) Distribution strategy.
- 3. How the firm prices its product or service is a very important
component of the business plan. If the firm wants to achieve its objectives, the right price for its product or service must be maintained.
A) Determination of the market share B) Pricing strategy. C) Distribution strategy D) Positioning Strategy.
- 4. are distributors who buy directly from distributors or wholesalers and sell to
retailers or end users.
A) retailers B) Wholesalers C) direct mails D) brokers
- 5. are channel members that sell to retailers or other agents for further
distribution through the channel until they reach the final users.
A) Wholesalers B) retailers C) direct mails D) brokers
- 6. How many part there are in Business Plan?
A) 9 B) 8 C) 7 D) 6
- 7. What is the 5th part of Business Plan
A) Description of the product/service B) Market Strategies C) Operation and management D) Analysis of Competition
- 8. What is the last part of business plan
A) Executive Summary B) Financial data C) Supporting documents D) Market Strategies
- 9. Where part of business plan can SWOT ANALYSIS be find
A) Analysis of Competition B) Description of the business C) Operation and Management D) Market Strategies
- 10. It is the internal environment of SWOT analysis
A) Threats and Opportunity B) Strength and Opportunity C) Weakness and Threats D) Strength and Weakness
- 11. It is the external environment of SWOT analysis
A) Opportunity and Threats B) Strength and Weakness C) Weakness and Threats D) Strength and Opportunity
- 12. refers to a skill, a competence, a valuable
organizational resource or competitive capability, or an achievement that gives the firm a market advantage.
A) Threats B) Weakness C) Opportunity D) Strength
- 13. refers to something a company lacks or does
poorly (compared with others) or a condition that puts is at a disadvantage.
A) Weakness B) Opportunity C) Strength D) Threats
- 14. refers to a challenge posed by an unfavorable
trend or development in the external environment that would lead to, in the absence of purposeful entrepreneurial action,
A) Weakness B) Strength C) Threats D) Opportunity
- 15. refers to the chance offered by the
external environment to improve the firm’s situation significantly.
A) Strength B) Threats C) Weakness D) Opportunity
- 16. is a legal association of two or more
person as co-owners of an unincorporated business.
A) general partnership B) Partnership C) limited partnership D) Sole proprietorship
- 17. is an arrangement in which the
liability of one or more partners is limited to the amount of assets they invested in the business.
A) Sole proprietorship B) General partnership C) Limited partnership D) Partnership
- 18. is a legally chartered enterprise with
most of the legal rights of a person, including the right to conduct a business, to own and sell property, to borrow money, and to sue and be sued.
A) Partnership B) Sole proprietorship C) Corporation D) General partnership
- 19. is an association of two or
more persons, each with unlimited liability, and who are actively involved in the business.
A) General partnership B) Sole proprietorship C) Limited partnership D) Corporation
- 20. is a business owned and
operated by a single person.
A) Sole proprietorship B) Corporation C) Limited partnership D) Partnership
- 21. What is the 2nd part of business plan
A) Title page and Table of Content B) Market Strategies C) Executive Summary D) Description of the business
- 22. offers similar product.
A) Direct competitors B) Competitor C) Company D) Indirect competitor
- 23. will take away sales from a company in an indirect manner.
A) Indirect competitor B) Company C) Direct competitors D) Competitor
- 24. RC Cola is an indirect competitors of Great Taste Coffee.
A) Maybe B) True C) False
- 25. firms consists of products purchased for resale,
A) Cost of Goods Sold B) The cost of goods of trading C) The cost of goods of manufacturing
- 26. In both types of business, all merchandise sold are indicated as
A) Income B) Profit C) Inventory D) cost of goods,
- 27. those that are not sold are
categorized as
A) cost of goods B) Income C) Profit D) inventory
- 28. The income statement shows the income expenses and profits of a firm over a period of time. It is also
alternatively called
A) Statement of expenses B) Statement of data C) Statement of income D) statement of earnings
- 29. a type of financial statement that shows the financial condition of the business as of a given date.
A) Cash Flow Statement B) balance sheet C) The owner’s equity D) Income statement
- 30. refers to the difference between total income and total expenses.
A) Cash flow B) Total expenses C) Marketing expenses D) Cumulative cash flow
- 31. refers to the difference between current cash flow and cash flow from the previous
period.
A) Total expenses B) Cash flow C) Cumulative cash flow D) Overhead
- 32. What is the 7th part of business plan
A) Financial data B) Analysis of Competition C) Operation and Management D) Market Strategies
- 33. This section refers to how much the owner has in the business. It provides a useful means in
evaluating the company.
A) The liabilities B) The Assets C) The owner’s equity
- 34. A proper balance between the cash inflows and outflows will result to
A) Expenses B) Income C) Cash D) Profit
- 35. What is the 6th part of business plan
A) Financial data B) Analysis of Competition C) Description of the Product/Service D) Market Strategies
- 36. How the firm prices its product or service is a very important
component of the business plan. If the firm wants to achieve its objectives, the right price for its product or service must be maintained.
A) Pricing strategy B) Distribution strategy C) Promotion strategy D) Positioning Strategy
- 37. “A well-written business plan is
one that contains all information necessary for the financing source to make a decision even without taking the entrepreneur.”
A) The business plan B) A TOOL FOR SECURING FUNDS C) CONCEPT OF BUSINESS PLAN D) THE PLAN AS A GUIDE
- 38. The business plan will serve as a means of providing some
assurance that the investor will place his funds in a worthwhile investment.
A) A TOOL FOR SECURING FUNDS B) CONCEPT OF BUSINESS PLAN C) THE PLAN AS A GUIDE D) The business plan
- 39. is a sort of a business
blueprint and it keeps the entrepreneur on the right track.
A) The business plan B) THE PLAN AS A GUIDE C) A TOOL FOR SECURING FUNDS D) CONCEPT OF BUSINESS PLAN
- 40. In the course of writing the business plan,
the small business operator (SBO) is afforded sufficient time to consider all factors relevant to operating the business.
A) THE PLAN AS A GUIDE B) A TOOL FOR SECURING FUNDS C) CONCEPT OF BUSINESS PLAN D) The business plan
- 41. is a document
that helps the small business owner determine what resources are needed to achieve the objectives of the firm, and provides a standard against which to evaluate results.
A) Business Plan B) THE PLAN AS A GUIDE C) A TOOL FOR SECURING FUNDS D) Balance Sheet
- 42. This particular portion of the business plan is very
useful to the SBO, as well as prospective investors and lenders.
A) MARKET STRATEGIES B) DESCRIPTION OF THE PRODUCT OR SERVICE C) EXECUTIVE SUMMARY D) DESCRIPTION OF THE BUSINESS
- 43. is a portion of the business plan that
summarizes the plan and states the objectives of the business.
A) MARKET STRATEGIES B) DESCRIPTION OF THE BUSINESS C) ANALYSIS OF THE COMPETITION D) EXECUTIVE SUMMARY
- 44. The product or service must be described clearly in the
plan
A) OPERATION AND MANAGEMENT B) DESCRIPTION OF THE BUSINESS C) MARKET STRATEGIES D) DESCRIPTION OF THE PRODUCT OR SERVICE
- 45. is the
ability to apply reasoning and logic to new or unfamiliar ideas, opinions, and situations.
A) Critical thinking B) Open-minded C) Knowledge D) Rationality
- 46. a person
usually involves a thinker trying to put himself or herself in the place of someone else.
A) Critical thinking B) Empathizing C) Rationality D) Open-minded
- 47. is a large part of critical thinking.thinking means not assuming that
your views or perspectives are always right
A) Open-minded B) Empathizing C) Skills D) Rationality
- 48. requires analyzing all known information
and making judgments or analyses based on fact or evidence rather than opinion or emotion.
A) Empathizing B) Rationality C) Critical thinking D) Open-minded
- 49. in critical thinking bring precision
to the way you think and work
A) cooperation B) Rationality C) initial knowledge D) Skills
- 50. Learning to think critically also helps people deal with the much larger
issues of living their life.
A) At the Level of Practical Decision Making. B) At the Level of Concepts. C) At the Level of Meaningfulness.
- 51. It has traditionally been defined as
“the established set of attitudes held by someone.”
A) Critical thinking B) Open-minded C) Skills D) Mindset
- 52. This is thinking about the means to use to accomplish our goals. It is
problem solving of the most authentic kind. This is an important level of critical thinking, one that addresses all those ordinary decisions we make.
A) At the Level of Meaningfulness. B) At the Level of Concepts. C) At the Level of Practical Decision Making.
- 53. people believe that their abilities can be developed through
dedication, effort, and hard work.
A) Growth mindset B) Fixed mindset C) Entrepreneurial mindset D) Mindset
- 54. people perceive their talents and abilities as set
traits. They believe that brains and talent alone are enough for success and go through life with the goal of looking smart at all time.
A) Mindset B) Entrepreneurial mindset C) Fixed mindset D) Growth mindset
- 55. ability to quickly sense, take
action, and get organized under uncertain conditions. This also includes the ability to persevere, accept, and learn from failure, and get comfortable with a certain level of discomfort.
A) Mindset B) growth mindset C) Entrepreneurial mindset D) Fixed mindset
- 56. sometimes unconscious pattern of behavior that
is carried out often and regularly.
A) Growth mindset B) entrepreneurial mindset C) Entrepreneurship as a Habit D) Passion and Entrepreneurship
- 57. a process
by which our brain decides whether or not a certain behavior should be stored and repeated
A) habit loop B) Habit pool C) Habit lap
- 58. Refers to the activities of persons or establishments
which sell to retailers and other merchants, and or to industrial, institutional, and commercial users, but who do not sell in large amounts to final consumers.
A) GENERAL CONSTRUCTION FIRMS B) RETAILING C) WHOLESALING D) MANUFACTURING
- 59. covers all activities involved in the
scale of goods and or services to the final consumers.
A) GENERAL CONSTRUCTION FIRMS B) GENERAL CONSTRUCTION FIRMS C) WHOLESALING D) RETAILING
- 60. one involved in
the conversion of raw materials into products needed by society.
A) MANUFACTURING B) GENERAL CONSTRUCTION FIRMS C) WHOLESALING D) RETAILING
- 61. those engaged in
the construction of buildings whether for private individuals or firms, or the government.
A) WHOLESALING B) MANUFACTURING C) RETAILING D) GENERAL CONSTRUCTION FIRMS
- 62. Small business may be defined as one which is independently owned and
operated and which is not dominant in its field of operation.
A) Profit B) Income C) Total Assets D) Market Share
- 63. Small business may be defined under the total assets approach as one
having______ that fall within a certain bracket.
A) Market Share B) Total Assets C) Profit D) Income
- 64. the economic
activity of a person who starts, manages, and assumes the risk of business enterprise.
A) Economic Development B) Entrepreneur C) Entrepreneurship
- 65. the person who
undertakes entrepreneurial activities
A) Economic Development B) Entrepreneur C) Entrepreneurship
- 66. The stage follows after establishing feasibility. The
activities will be on a small scale (selling to limited markets with limited resources)
A) prestart-up stage B) early growth stage C) late growth stage D) Start-up stage
- 67. happens when the entrepreneur starts to
question the feasibility of an idea, product, or service.
A) Start-up stage B) late growth stage C) prestart-up stage D) early growth stage
- 68. the final stage before the new venture
matures into a stable enterprise.
A) late growth stage B) prestart-up stage C) Start-up stage D) early growth stage
- 69. What is the economic reward of labor
A) Rent B) Interest C) Profit D) Wages/Salary
- 70. What is the factor of production of Interest
A) Land B) Entrepreneur C) Capital D) Labor
- 71. What is the economic reward of land
A) Wages/Salary B) Profit C) Interest D) Rent
- 72. Entrepreneur or Entrepreneurship
originated in _____sometime in the Middle Ages.
A) America B) Africa C) Europe D) Asia
- 73. Entrepreneur originated from the
French word “Entreprendre” which means
A) To overtake B) To take C) to undertake D) To Achieve
- 75. ___means nerve center
A) Pre B) Entre C) Neur
- 76. in his book entitled,
Entrepreneurs are Made Not Born, defined entrepreneur by dissecting the word entrepreneur into three parts
A) Joseph Schumpeter B) Lloyd Shefsky C) Professor Robert Nelson D) Karl Vesper
- 77. in his essay
entitled Change and Entrepreneur he described entrepreneurship as doing things that are not generally done in the ordinary course of business routines.
A) Karl Vesper B) Joseph Schumpeter C) Lloyd Shefsky D) Professor Robert Nelson
- 78. ___and his co-authors of the book
entitled New Ventures Creation,- has described entrepreneurship as “the ability to create and build a vision from practically nothing.
A) Lloyd Shefsky B) Joseph Schumpeter C) Professor Robert Nelson D) Jeffrey Timmons
- 79. defines entrepreneur as “ a person who
is able to look at the environment, identify opportunities to improve the environment, marshal resources, and implement action to maximize those opportunities.”
A) Jeffrey Timmons B) Joseph Schumpeter C) Professor Robert Nelson D) Lloyd Shefsky
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