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Genel2-REVIEWER(Prelim)
Contributed by: Fernandez
  • 1. Entrepreneurs are positive thinkers.
A) Positive Thinkers
B) Courage
C) Decisiveness
D) Patience
  • 2. The importance of networking in the entrepreneurial mindset.
A) Networking is only important for extroverted individual
B) Networking is not important in the entrepreneurial mindset
C) Networking is building relationships or mutual connections between selected people and organizations only
D) Networking is important for building relationships and finding new opportunities
  • 3. Which of the following is not a characteristic of an entrepreneurial mindset?
A) Confidence
B) Avoiding challenges
C) Persistence
D) Risk-taking
  • 4. Which of the following is not a key characteristic of successful entrepreneurs?
A) A passion for their work
B) Having confident attitude
C) A willingness to take risks
D) A focus on short-term goals
  • 5. aims to earn profits from producing, buying, and selling goods.
A) Entrepreneurs
B) business enthusiasts
C) business managers
D) business competitors
  • 6. An entrepreneur is someone who enters a business-any business in time to form or change substantially that business nerve center. According to___?
A) Lloyd Shefsky
B) Schumpeter
C) Karl Vesper
D) Economists
  • 7. What is the primary goal of information seeking?
A) Social interaction
B) Entertainment
C) Problem-solving
D) Discovery
  • 8. According to Albert Shapero resources are brought together in organization to accomplish some objective (or the resources in existing organization are reorganized).
A) organization
B) Entrepreneurship
C) Endeavor
D) Intiative
  • 9. Entrepreneurs are known for being risk-takers.
A) Innovativeness
B) Opportunity seeking
C) Risk-taking
D) Self-motivation
  • 10. It is a product of economic development.
A) Economic Development
B) Economic Growth
C) Economic Rate Output
  • 11. It is a process which refers to the progressive process of improving human conditions by reducing or eliminating poverty, disease, injustice, illiteracy, and exploitation.
A) Economic Process
B) Economic Rate Output
C) Economic Development
D) Economic Growth
  • 12. Means, he knows who he is, what he is good at (special skills or expertise) and what he likes to do.
A) Self-motivation
B) Passion
C) Self-esteem
D) Self-awareness
  • 13. A characteristic of an entrepreneur having the willingness to take the risks striving for success towards achieving goals in business.
A) Courage
B) Opportunity seeking
C) Information seeking
D) Drive
  • 14. Which of the following is The Role of Entrepreneurship in Economic Development?
A) Entrepreneurship is capable of generating more jobs, income, goods and services.
B) Provides taxes to the economy
C) mobilizes capital
  • 15. What is the difference between a business idea and a business opportunity?
A) A business idea is a creative concept, while a business opportunity is a specific plan for implementation.
B) A business idea is a process and business opportunity is creating new markets
C) A business idea is a plan for starting a business, while a business opportunity is an existing opportunity to start a business.
D) A business idea is a new product or service, while a business opportunity is an existing market need.
  • 16. Entrepreneurs blend are__: I. Creativity, innovation, risk taking II. Hard work to form a firm III. Hard work to form and nurture ventures
A) III only
B) I and III only
C) I only
D) I, II and III
  • 17. A willingness to take the risk which is a valuable trait when striving for success.
A) Positive Thinking
B) Courage
C) Patience
D) Decisiveness
  • 18. Means, he knows who he is, what he is good at (special skills or expertise) and what he likes to do.
A) Self-awareness
B) Passion
C) Self-motivation
D) Self-esteem
  • 19. An entrepreneur have reasons that drive him to get him going and keeps him moving when he is in business.
A) Confidence
B) Courage
C) Self-motivation
D) Self-awareness
  • 20. The importance of risk-taking in the entrepreneurial mindset?
A) Risk-taking is important for seizing opportunities and achieving success
B) Risk-taking is only important for individuals who have financial security
C) Risk-taking is avoiding challenges
D) Risk-taking is not important in the entrepreneurial mindset
  • 21. An entrepreneur appears as a threat, an aggressive competitor.
A) According to Economists
B) According to a businessman
C) According to psychologists
D) According to A Capitalist Philosopher
  • 22. Entrepreneurs are creative.
A) Opportunity-seeker
B) Innovative
C) Information-seeker
D) Discoverer
  • 23. A characteristic of an entrepreneur having the willingness to take the risks striving for success towards achieving goals in business.
A) Innovative
B) Courage
C) Opportunity seeking
D) Drive
  • 24. he real indicator of economic well-being among citizens and the masses are inn some ways was gauged by the amount of financial resources that every citizen accumulates.
A) Empower individuals
B) Provides taxes to the economy
C) promote self-help and unemployment
D) mobilizes capital
  • 25. What is the significance of passion in the entrepreneurial mindset?
A) Passion is only important in artistic and creative industries
B) Passion is not important in the entrepreneurial mindset
C) Passion is making sacrifices of your time and affection
D) Passion is important for driving motivation and dedication to a venture
  • 26. This characteristic of an entrepreneur is described in Business as a process of making one fast decision after another. Often, a decision has to be made immediately, on the spur of the moment. In those instances, one should go with his intuition (the power/natural ability to make things possible) and Trust that he is doing the right thing.
A) Drive
B) Decisiveness
C) Patience
D) Positive Thinking
  • 27. What is the role of self-motivation in the entrepreneurial mindset?
A) Self-motivation is important for overcoming challenges and achieving goals
B) Self-motivation is only applicable to those intelligent and wealthy individuals
C) Self-motivation is not important in the entrepreneurial mindset
D) Self-motivation is only important for individuals who lack support from others
  • 28. What is the role of innovation in the entrepreneurial mindset?
A) Innovation is important for creating new products and services and staying ahead of competitors
B) Innovation is only important in industries that require advanced technology
C) Only few businesses/firms employ innovation and creativity in their products and services
D) Innovation is not important in the entrepreneurial mindset
  • 29. They are innovative opportunity seekers
A) business managers
B) business competitors
C) business enthusiasts
D) Entrepreneurs
  • 30. they create value by introducing new products or services or finding better ways of making them.
A) Entrepreneurs
B) business managers
C) business enthusiasts
D) business competitors
  • 31. Entrepreneurship is a dynamic process of innovation and new venture creation though five (5) MAJOR DIMENSIONS which are?: I. individuals, process, organization, institution, environment II. individuals, process, organization, institution, Government III. individuals, process, Innovation, Technology, environment
A) II only
B) I and II only
C) I, II and III
D) I only
  • 32. Key characteristic of successful entrepreneurs in opportunity seeking.
A) Preference for routine tasks
B) Risk aversion
C) Inflexibility
D) Creativity and innovation
  • 33. TODAY, Filipino entrepreneurs are being characterized by globalized trading system wherein the real challenges of entrepreneuristic persons and organizations in the so-called ?
A) Border less World
B) Border less Trading
C) Global Trading
  • 34. What is the role of creativity in the entrepreneurial mindset?
A) It is not important in the entrepreneurial mindset
B) It is important for generating new ideas and problem-solving
C) It is only important for artistic and creative ventures
D) Only few businesses/firms employ innovation and creativity in their products and services
  • 35. What is the first step in the information-seeking process?
A) Searching online databases
B) Identifying the information need
C) Reviewing past research
D) Compiling data
  • 36. A primary reason some business fall within a few years of start-up
A) Decisiveness
B) Experience
C) Naiveness
D) Patience
  • 37. one of the most appealing trait he exhibits to prospective clients,
A) Courage
B) Confidence
C) Experience
D) Patience
  • 38. Experience in one’s field is invaluable, but it is not enough. One has a better chance of succeeding by knowing, as much as possible about factors such as BUSINESS Basics, the PRODUCT or SERVICE that he want to sell, the industry he is entering, his competition, and the local, regional, state, and/or national markets.
A) Experience
B) Knowledge
C) Courage
D) Perseverance
  • 39. One of the adages one will hear time and again when talking to entrepreneurs
A) Knowledge
B) Experience
C) Patience
D) Perseverance
  • 40. One must believe in his goal and be determined to succeed.
A) Perseverance
B) Experience
C) Drive
D) Knowledge
  • 41. An Entrepreneur readily identifies opportunities for going into or to improve his business.
A) Self-motivation
B) Innovativeness
C) Risk-taking
D) Opportunity-seeking
  • 42. Setting high but realistic standards of excellence for himself,
A) Systematic Planning and Monitoring
B) Persuasion and networking
C) Demand for Efficiency and Quality
D) Opportunity-seeking
  • 43. As a careful Planner an entrepreneur sets what are to be accomplished and meticulously assesses how today’s activity can contribute to the accomplishment of his long-term goal.
A) Demand for Efficiency and Quality
B) Persuasion and networking
C) Systematic Planning and Monitoring
D) Opportunity-seeking
  • 44. A persuasive person,, the entrepreneur easily establishes a network of personal and business contacts around him.
A) Persuasion and networking
B) Systematic Planning and Monitoring
C) Opportunity-seeking
D) Demand for Efficiency and Quality
  • 45. He is regarded as one of the 20th century's greatest intellectuals.
A) Schumpeter
B) Economists
C) Lloyd Shefsky
D) Karl Vesper
  • 46. Entre means
A) before; and
B) nerve center
C) to enter
  • 47. Pre means
A) to enter
B) nerve center
C) before; and
  • 48. Neur means
A) before; and
B) to enter
C) nerve center
  • 49. Author of Contemporary Entrepreneurship
A) ROBERT NELSON
B) Dr. N.A. Orcullo
C) ALBERT SHAPERO
D) Joseph Alois Schumpeter
  • 50. every entrepreneur helps or assists the government not only by providing employment for himself but also providing employment to those employed by the firm.
A) mobilizes capital
B) Promotes self-help and unemployment
C) Empower individuals
D) Provides taxes to the economy
  • 51. the quantity and quality of products and services produced by every entrepreneur is a source of pride and identity for a country.
A) Promotes self-help and unemployment
B) Provides taxes to the economy
C) Enhance competitive consciousness
D) Enhanced National Identity and Pride
  • 52. Innovation, being the essence of entrepreneurship, is a catalyst to consciousness and culture competition, which in the long term breeds quality and international/global competitiveness.
A) Enhance equitable distribution of income and wealth
B) Promotes self-help and unemployment
C) Enhanced National Identity and Pride
D) Enhance competitive consciousness
  • 53. the entrepreneur’s penchant (tastes and preferences/wants/likes) for innovation and development of new product, as well as creation of new markets, redounds to the betterment of the products and services- and hence the quality of life.
A) Improves quality of life
B) Enhance equitable distribution of income and wealth
C) Enhance competitive consciousness
D) Enhanced National Identity and Pride
  • 54. with entrepreneurs succeeding in their respective endeavors, chances are equitable distribution of income and wealth can be likewise expected.
A) Enhance competitive consciousness
B) Enhance equitable distribution of income and wealth
C) Enhanced National Identity and Pride
D) Improves quality of life
  • 55. the entry of the entrepreneur into the world of business means tax sources for the government.
A) Promotes self-help and unemployment
B) mobilizes capital
C) Provides taxes to the economy
D) Empower individuals
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