Department of Education
Region X
Division of Bukidnon
BUKIDNON NATIONAL SCHOOL OF HOME INDUSTRIES
Maramag, Bukidnon
ENTREPRENEURSHIP
MIDTERM EXAM
Name:________________________________________________________
Year & Strand:__________________________
Date:_____________________
Score:____________________
Instructions: Read and analyze each item carefully. Encircle the letter of
the correct answer.
1. It has traditionally been defined as the process of designing, launching and running a new business.
a. business b. entrepreneur c. entrepreneurship d. production
2. Which of the following statement best describe the term passion in entrepreneurship?
a. Know your customers before you start a business.
c. Being fanatical of your product.
b. Having interest in what you do.
d. None of the above
3. How will you be able to link your vision to the annual and quarterly priorities?
a. Define the why, what and how of your business.
b. Break down current mission into the annual and quarterly priorities.
c. Schedule a steady rhythm of success
d. All of the above
4. The entrepreneurs who create new ideas are called ____________________.
a. Innovative
b. Imitating
c. Fabian
d. Drone
5. The entrepreneur who lives on the labor of other is called ________________.
a. Drone
b. Fabian
c. Imitating
d. Innovative
6. These are entrepreneurs who are to follow the path shown by innovative entrepreneurs.
a. Innovative
b. Imitating
c. Social Entrepreneurs
d. Fabian
7. Which of the following does not belong to the group?
a. Skills management
c. Conduct research
b. Risk taker
d. make no changes with his product
8. Entrepreneur means__________.
a. Risk taker
b. To undertake
c. To research
d. To improve standard of living
9. It is a personality factor which means convincing customers to buy the product.
a. Proactive
b. Perseverance c. Persuasion
d. Self-confidence
10. The entrepreneur who is skeptical about the changes in the company is called.
a. Fabian
b. Social Entrepreneur
c. Drone
d. Imitating
11. Which is not a career for an entrepreneur?
a. Business consultant
b. Sales
c. Research and Development
d. Domestic Helper
12. Which of the statements below is true?
a. Entrepreneurs have limited career opportunities.
b. Entrepreneurs are prone to constant high income.
c. Entrepreneurs are contributors to the development of the society.
d. Entrepreneurs are the reason for the unemployment problem.
13. Which of the statement’s ins NOT true?
a. An entrepreneur will patiently wait for his efforts to bear fruit.
c. All entrepreneurs are successful.
b. The profit of the entrepreneur is immediate.
d. Entrepreneurs are researcher.
14. Which of the following is NOT true?
a. Entrepreneurship creates organizations.
b. Entrepreneurs improve the life of the entrepreneur alone.
c. Entrepreneurs improves the economy.
d. None of the choices.
15. It is the process of considering, evaluating, and pursuing market-based activities that are advantageous for the firm.
a. Opportunity-seeking
c. Opportunity-screening
b. Opportunity-seizing
d. Sources of Opportunity
16. What is the French word for entrepreneurship?
a. Prendre
b. Entrée
c. Entreprendre d. Entreprendreé
17. What is the Latin word for entrepreneurship?
a. Prendre
b. Entrée
c. Entreprendre d. Entreprendreé
18. Which among the following statement best describes a fixed mindset?
a. Failure is an opportunity to grow.
c. I can learn to do anything I want
b. Challenges help me to grow
d. My abilities are unchanging
19. Which among the following statement best describes a growth mindset?
a. Failure is an opportunity to grow.
c. I can learn to do anything I want
b. Challenges help me to grow
d. All of the choices
20. Which of the following statement is correct?
a. An entrepreneur exerts time and effort.
c. An entrepreneur is forward looking
b. An entrepreneur is concern of his/ her income
d. all of the above
21. Which of the following is the important trait of an entrepreneur?
a. efficient
b. creative
c. independent
d. all of the above
22. These are essential to every individual so he/she may be able to live with dignity and pride.
a. needs
b. wants
c. services
d. recreation
23. It is the desires, luxury and extravagance that signify wealth and an expensive way of living.
a. Needs b. wants
c. services
d. recreation
24. Which of the following is an example of our basic needs?
a. laptop
b. cellphone
c. food
d. none of the above
25. This is essential to opportunity-seeking which allows the entrepreneurs to see things in a positive and
optimistic light in the midst of crisis or difficult situations.
a. Entrepreneurial mind frame
c. Entrepreneurial heart flame
b. Entrepreneurial gut game
d. Entrepreneurial heart frame
26. It is the ability of entrepreneur that can sense without using the five senses, also known as intuition.
a. Entrepreneurial mind frame
c. Entrepreneurial heart flame
b. Entrepreneurial gut game
d. Entrepreneurial heart frame
19. Which among the following statement best describes a growth mindset?
a. Failure is an opportunity to grow.
c. I can learn to do anything I want
b. Challenges help me to grow
d. All of the choices
20. Which of the following statement is correct?
a. An entrepreneur exerts time and effort.
c. An entrepreneur is forward looking
b. An entrepreneur is concern of his/ her income
d. all of the above
21. Which of the following is the important trait of an entrepreneur?
a. efficient
b. creative
c. independent
d. all of the above
22. These are essential to every individual so he/she may be able to live with dignity and pride.
a. needs
b. wants
c. services
d. recreation
23. It is the desires, luxury and extravagance that signify wealth and an expensive way of living.
a. Needs b. wants
c. services
d. recreation
24. Which of the following is an example of our basic needs?
a. Laptop
b. cellphone
c. food
d. none of the above
25. This is essential to opportunity-seeking which allows the entrepreneurs to see things in a positive and
optimistic light in the midst of crisis or difficult situations.
a. Entrepreneurial mind frame
c. Entrepreneurial heart flame
b. Entrepreneurial gut game
d. Entrepreneurial heart frame
26. It is the ability of entrepreneur that can sense without using the five senses, also known as intuition.
a. Entrepreneurial mind frame
c. Entrepreneurial heart flame
b. Entrepreneurial gut game
d. Entrepreneurial heart frame
27. They are the ones who pay cash in exchange for your goods and services.
a. Buyers
b. Competitors
c. Sellers
d. Suppliers
28. The following are the forces competing within the industry except one:
a. Potential new entrants and Substitute products c. Rivalry among existing firms
b. Buyers and Suppliers
d. Needs and Wants
29. What is the function of value proposition?
a. Used to power up sales
b. Used to convince customers to purchase a particular product or services.
c. Help customers buying habits
d. Provide value to your customers
30. Give an example in promotion using Value Proposition.
a. 7/11 Convenience Store Open 24 hrs.
b. Sa Jollibee “Langhap Sarap”
c. Sa Mercury Drug Nakakasiguro Gamot ay Laging Bago
d. Nescafe’s Creamiest Coffee Ever
31. Give an example in promotion using Unique Selling Proposition.
a. Charing Sari-Sari store, open 24/7
c. Rexidol Forte Paspas Banat sa Upat
b. Colgate Whitening Toothpaste
d. Botika ng Masa
32. It is the process of gathering, analyzing and interpreting information about the product or the services to
be offered for sale in the market, the market and about past, present, and nay potential customers for
the products.
a. Data Gathering
b. Primary Research
c. Secondary Research
d. Market Research
33. A data gathering technique where it can be moderated to group interviews and brainstorming sessions
that provide information on user’s needs and behaviors.
a. Personal Interview
b. Focus Group Discussion
c. Survey
d. Data gathering
34. A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.
a. Personal Interview
b. Focus Group Discussion
c. Survey
d. Data gathering
35. It is one of the most reliable and credible ways of getting relevant information from target customers.
a. Primary research
b. Secondary research
c. Interview
d. Data gathering
36. It is the most common way to gather data with the use of questionnaires or interview schedule.
a. Interview
b. Focus Group Discussion c. Survey
d. Data gathering
37. It is the traditional method of data collection which is normally done in person with the respondents.
a. Personal Interview
b. Focus Group Discussion
c. Survey
d. Data gathering
38. It is an excellent method for generating and screening ideas and concepts.
a. Personal Interview
b. Focus Group Discussion c. Survey
d. Data gathering
39. Select the best definition of product.
a. A product is an item that is built or produced to satisfy the needs of a certain group of people, it can
be tangible or intangible.
b. A product is an item that is built or produced primarily to gain profit; it can be tangible or intangible.
c. A product is an item that is built or produced to compete in the world of business; it can be tangible
or intangible.
d. None of the above
40. Choose the best statement that applies to consumer goods.
a. A buyer of consumer goods must have complete knowledge of the goods he/she buys and uses.
b. After-sale service is of paramount importance in the case of all consumer goods.
c. The market for consumer goods is affected by technological changes
d. A buyer of consumer goods may not have thorough knowledge of the goods he/she buys and uses.
41. What is the first P in the marketing mix?
a. Place b. Product
c. Price
d. Promotion
42. What type of marketing mix which refers to the product or services a business is offering?
a. Place
b. Product
c. Price
d. Promotion
43. Which among the following statement is NOT true about price?
a. Price includes discounts, terms, fees, and so on.
b. When arranging pricing, an entrepreneur should consider your business current position among
other competitors.
c. In advertising a very high-quality product, pricing should reflect that claim.
d. It is the act of marketing directly to consumers.
44. What is the third P in the marketing mix?
a. Place b. Product
c. Price
d. Promotion
45. What are the two types of Place in the marketing mix?
a. Physical Store
b. Online Store
c. A only
d. Both A and B
46. How many types of marketing mix are there in marketing?
a. 8
b. 7
c. 9
d. 10
47. Which among the following factors to be considered in Price of the marketing mix is NOT true?
a. Overhead costs like advertising, rent, and insurance
c. The price of competitors’ service
b. Cost of labor and materials
d. None of the above
48. Which among the following illustrates or shows promotional mix?
49. What are the different stages of distribution channel?
a. Stage 1: Producer ----------Wholesaler----------Retailer----------Consumer
Stage 2: Producer ----------Direct Marketing----------Consumer
Stage 3: Producer----------Consumer
b. Stage 1: Producer----------Wholesaler-----------Retailer----------Consumer
Stage 2: Producer----------Retailer----------Consumer
Stage 3: Producer----------Consumer
c. Choices A only
d. None of the above
50. Who is the most important person in entrepreneurship?
a. Farmer
b. Entrepreneur c. Entities
d. Entrepreneurial