- 1. A smartphone manufacturer sets the price of a new phone very high when it is first released and then lowers it over time. What is this pricing strategy called?
A) Premium Pricing
B) Dynamic Pricing
C) Skimming Pricing
D) Penetration Pricing
- 2. Mark wants to open a carwash, but he first checks how many people in his area own cars and how often they need services. What factor is he evaluating?
A) Suppliers
B) Technology
C) Market
D) Capital
- 3. Which of the following pricing strategies involves setting a high price at first and lowering it over time?
A) Premium Pricing
B) Psychological Pricing
C) Skimming Pricing
D) Penetration Pricing
- 4. What is the purpose of a compensation scheme in a business proposal?
A) To provide an overview of the company's financial data
B) To outline the marketing strategy of the company
C) To analyze competitors' compensation packages.
D) To detail employees' wages, salaries, benefits, and terms of payment, including bonuses and incentives.
- 5. Which of the following is a characteristic of the "Dynamic Pricing" strategy?
A) Pricing based on competitors
B) Adjusting prices according to demand fluctuations
C) Charging a premium price for high-quality products
D) Offering a fixed price for every customer
- 6. If a product is no longer profitable and is removed from the market, it is in which stage of the product life cycle?
A) Growth
B) Maturity
C) Decline
D) Introduction
- 7. A new bakery offers extremely low prices during its opening month to draw in customers. Which pricing strategy is this?
A) Penetration Pricing
B) Premium Pricing
C) Skimming Pricing
D) DynamicPricing
- 8. Ravi wants to start a business that will continue even after his retirement. Which ownership structure offers perpetual existence?
A) Corporation
B) Sole Proprietorship
C) Limited Partnership
D) General Partnership
- 9. A client is impressed by your proposal but is concerned about the continuity of your business in the event of ownership changes. Which business structure would give them assurance?
A) Sole Proprietorship
B) Limited Partnership
C) Corporation
D) General Partnership
- 10. A tech company notices a growing demand for its services due to an increase in remote work. How should this be categorized in a SWOT analysis?
A) Threats
B) Opportunities
C) Strengths
D) Weaknesses
- 11. An airline charges different prices for the same flight based on how close to the departure date the ticket is purchased. What pricing strategy does this represent?
A) Geographic Pricing
B) Dynamic Pricing
C) Cost-plus Pricing
D) Psychological Pricing
- 12. "What is the first step in market research?"
A) Defining the problem
B) Analyzing the data
C) Making a preliminary investigation
D) Gathering the data
- 13. What business model involves managing and stocking products in a retailer's display space?
A) Subcontractor
B) Rack Jabber
C) Franchisor
D) Wholesaler
- 14. Lisa's clothing brand has a growing customer base but faces competition from fast-fashion companies. Where would this challenge be categorized in a SWOT analysis?
A) Threats
B) Strengths
C) Weaknesses
D) Opportunities
- 15. When preparing to launch her boutique, Carla uses surveys and interviews to understand her potential customers' preferences. This is part of:
A) Reaching conclusion
B) Planning research
C) Evaluating decision
D) Gathering data
- 16. A company adds a 20% margin to the production cost of its products to determine the selling price.
What pricing strategy is this?
A) Cost-Plus Pricing
B) Penetration Pricing
C) Competition-Based Pricing
D) Freemium Pricing
- 17. A business owner wants to expand their brand by allowing others to sell products under their name.
This is an example of:
A) Subcontracting
B) Wholesaling
C) Distributorship
D) Licensing
- 18. Maria wants to start a small online business on her own and maintain full control. What business structure should she choose?
A) Corporation
B) Sole Proprietorship
C) Partnership
D) Limited Partnership
- 19. An online streaming service offers a free trial for a month, after which customers have to pay for a subscription. What is this an example of?
A) Dynamic Pricing
B) Skimming Pricing
C) Bundle Pricing
D) Freemium Pricing
- 20. Which term refers to the early phase of coming up with business ideas, often based on needs, trends, and passions?
A) Creativity
B) Ideation
C) Innovation
D) Search for Business Opportunities
- 21. Producing, packaging, and selling the new banana chips. IS AND EXAMPLE OF?
A) Creativity
B) Entrepreneurial thinking
C) Innovation
- 22. Testing customer demand, calculating profit, and developing a sales strategy. IS WHAT EXAMPLE OF?
A) Innovation
B) Creativity
C) Entrepreneurial thinking
- 23. Real-life example of creativity
A) JOLLIBEE
B) GRAB
C) GCASH
- 24. Schumpeter viewed entrepreneurs as important drivers of economic development through innovation. His concept of what?
A) creative thinking
B) creative innovation
C) creative destruction
- 25. was an Austrian-born American management consultant, educator, and author whose work helped shape modern management theory and practice. Often described as the father of modern management.
A) Teresa M. Amabile
B) Peter F. Drucker
C) Joseph A. Schumpeter
- 26. is an American psychologist and organizational researcher best known for her work on creativity, motivation, and innovation in organizations.
A) Joseph A. Schumpeter
B) Teresa M. Amabile
C) Peter F. Drucker
- 27. -was an Austrian-born economist and social theorist who became one of the twentieth century's most influential thinkers on capitalism, entrepreneurship, and economic change.
A) Joseph A. Schumpeter
B) Peter F. Drucker
C) Teresa M. Amabile
- 28. Is the process of turning an idea into a product, service, process, or business model that creates value.
A) Entrepreneurial thinking
B) Creativity
C) Innovation
- 29. is the ability to recognize opportunities, solve problems, manage risks, and make decisions that create value. It involves thinking like an entrepreneur, even when a person does not own a business.
A) Entrepreneurial thinking
B) Creativity
C) Innovation
- 30. is the ability to generate new, original, and useful ideas. It involves looking at problems from different perspectives and finding possibilities that others may overlook.
A) Creativity
B) Entrepreneurial thinking
C) Innovation
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