eleco3
  • 1. Which of the following statements is
    FALSE?
A) Selling is essentially a matching process.
B) Market segmentation is a useful process for small businesses to undertake.
C) It is a good idea for small businesses to compete solely in price.
D) A benefit is the value of a product feature to a customer.
  • 2. The purpose of all good small business
    strategy is
A) To increase turnover
B) To achieve stated objectives
C) To achieve competitive advantage
D) To increase profitability
  • 3. According to Joseph Schumpeter (an
    Economist), innovative Entrepreneurs
    would:
A) Get absorb within larger innovative businesses
B) Not survive and disappear from the market
C) Get absorb within non-innovative businesses
D) Thrive in the market
  • 4. Which of these statements best
    describes the context of
    Entrepreneurship?
A) Entrepreneurship does not take place in social enterprises.
B) Entrepreneurship takes place in small businesses.
C) Entrepreneurship takes place in a wide variety of contexts.
D) Entrepreneurship takes place in large businesses.
  • 5. If an Entrepreneur takes decisions on
    behalf of their enterprise, it is known
    as:
A) Strategic decisions
B) Organizational decisions
C) Routine decisions
D) Personal decisions
  • 6. Goods and services reach the market
    place through:
A) Marketing networks
B) Marketing channels
C) Market segmentation
D) Marketing strategies
  • 7. Why firm's Vision Statement is
    important? EXCEPT:
A) Serves as a strategic plan for success
B) Help motivate employees to work toward shared goals
C) Help motivate employees to work toward shared goals
D) Helps to prioritize tasks, focus energy, and maximize impact on target customers
  • 8. Refers to a plan that shows whether the
    business is economically feasible or not.
A) Business Plan
B) Marketing Plan
C) Strategic Plan
D) Financial Plan
  • 9. Which of the following is NOT a
    characteristic of a marketing plan?
A) It should provide for the use of existing resources
B) It should be simple and short
C) It should provide strategy to accomplish company's mission
D) It should be rigid
  • 10. The term Entrepreneur came from:
A) French
B) Latin
C) Chinese
D) English
  • 11. The term Entrepreneur is translated as:
A) Giver
B) Between-taker
C) Receiver
D) Between-giver
  • 12. In an International perspective, which
    of the following decisions are not covered under strategic planning of an
    Entrepreneur?
A) What customer benefits are provided by the products?
B) What the company's major strengths and weaknesses?
C) What are unique characteristics of each market?
D) Who should be involved in marketing decisions?
  • 13. Refers to an individual who creates
    something for the first time and a highly
    driven individual motivated by his/her
    own work and personal ideas.
A) Salesman
B) Businessman
C) Inventor
D) Investor
  • 14. One of the advantages to businesses of
    training staff is that it tends to increase
A) Attract and retain more customers
B) Sales and profits
C) Employee satisfaction
D) Career development
  • 15. XYZ Company is interested in
    developing, producing, and selling a
    new product. Before it does so, the
    company spends six months conducting
    marketing research. What are the
    primary advantages of this course of
    action?
A) To determine customer preferences and minimize losses
B) To determine customer mindset
C) None of the above
D) To determine customer preferences and minimize losses
  • 16. Refers to the marketing system based
    on a legal agreement wherein the one
    party is given the right handle the
    business as an independent owner but
    is required to abide by the terms and
    conditions specified by the other party.
A) Franchise
B) Franchising
C) Franchise buyer
D) Franchising contract
  • 17. This theory explains that the
    government should play the key role in
    economic development.
A) Keynesian Theory
B) Laissez_Faire Theory
C) Kaldor Theory
D) Ricardian Theory
  • 18. To an Entrepreneur, relevant
    competitive strategy generally falls into
    three categories EXCEPT:
A) Beating the competition
B) Assessing the competition
C) Meeting the competition
D) Countering the competition
  • 19. This means possibility of creating new
    value:
A) Perception
B) Gain
C) Innovation
D) Opportunity
  • 20. Which of the following statement about
    Entrepreneurship is TRUE?
A) Entrepreneurs des by creating and managing organizations to give long term benefits to the investors.
B) An Entrepreneurs need bosses to motivate them.
C) Entrepreneurs requires specific know how in the ventures day to day operations.
D) Entrepreneurs must take divided control and direct the venture towards a maximum position.
  • 21. The following are the positive
    characteristics of a good business plan
    EXCEPT:
A) Capture the customers interest
B) Prepare an objectively long plan
C) Always consider pitfalls
D) Emphasize the target market
  • 22. Filipinos are generally adventurous. It is
    common for us to see people coming
    from different provinces migrating to
    urban places. If you ask them why they
    decided to migrate, their common
    answer is they want to try their luck in
    the City. What Filipino trait that they
    portraying?
A) Risk taker
B) Destiny
C) Bahala na attitude
D) Bravery
  • 23. Filipinos like to be in good harmony
    with other and excellent human
    relations. Thus, a lot of Entrepreneurs
    nowadays lack the ability to build
    rapport with the people around them.
    What Filipino trait that Entrepreneurs
    disregard at this time?
A) Bayanihan
B) Smooth Interpersonal Relationship or SIR
C) Delicadeza
D) Pakikisama
  • 24. This economy is about personal choice.
    individuals decide what, how, and for
    whom products and services are
    produced?
A) Operations
B) Strategy
C) Command
D) Market
  • 25. What is opportunity cost?
A) Choosing the best alternative
B) Going with the easiest option
C) Going with the first option
D) Choosing with the advantage
Created with That Quiz — a math test site for students of all grade levels.