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Mastery Exam: Entrepreneurship

This document appears to be a test on entrepreneurship mastery with 30 multiple choice questions. It covers topics such as the definition of an entrepreneur, common characteristics of successful entrepreneurs, advantages and disadvantages of entrepreneurship, different types of entrepreneurial businesses, and calculations related to entrepreneurial profit. The questions target understanding of core entrepreneurship concepts, theories, and competencies.

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Mark Bantolinao
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168 views

Mastery Exam: Entrepreneurship

This document appears to be a test on entrepreneurship mastery with 30 multiple choice questions. It covers topics such as the definition of an entrepreneur, common characteristics of successful entrepreneurs, advantages and disadvantages of entrepreneurship, different types of entrepreneurial businesses, and calculations related to entrepreneurial profit. The questions target understanding of core entrepreneurship concepts, theories, and competencies.

Uploaded by

Mark Bantolinao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ENTREPRENEURSHIP

MASTERY EXAM
Name: ______________________________________
Grade & Section:____________________________

1. What is an entrepreneur?
A. A person who is in charge of specific location
B. A person who organizes and operates a business or businesses
C. A person who works for someone else in order to learn skills
D. None of these

2. Which is NOT a common characteristics of an entrepreneur?


A. Risk taker B. Organized C. Creative D. Irresponsible

3. Which is a common characteristics of an entrepreneur?


A. Organized B. Impressionable C. Vindictive D. Irresponsible

4. Which is a characteristic of a successful entrepreneur?


A. Motivated B. Passionate C. Takes very little risk D. Hard-working

5. What is a disadvantage of being an entrepreneur?


A. You have more control over your work C. You have a more flexible schedule
B. You do not always receive a regular pay check D. Your work schedule is always predictable

6. The evolution of the field of entrepreneurship has been formulated by scholars based on theories that are
rooted in economics, psychology, sociology, anthropology and management.
A. Entrepreneurship evolution C. Entrepreneurial competencies
B. Entrepreneurship and the economy D. The theories and concepts in entrepreneurship

7. An entrepreneur is viewed as “heroes” of free enterprise (Kuratko & Hodgetts, 2004)


A. 21st century B. 14th to 16th century C. 18th century D. 19th century

8. What type of entrepreneurial business sells products directly to the people who use or consume them?
A. Manufacturing B. Wholesaling C. Retailing D. Service

9. What type of entrepreneurial business sells service instead of a product?


A. Manufacturing B. Wholesaling C. Retailing D. Service

10. If you own your own business you will need to know how to calculate your profit. Which one is a calculation
of profit?
A. Sales-month in a year C. Total sales-expenses
B. Sales-expenses D. Monthly sales * expenses

11. Which one is NOT an advantage of Entrepreneurship?


A. can choose a business of interest C. make a lot of money
B. you can be creative D. you will make decisions alone

12. An entrepreneur viewed as someone who simply provides money for the creation of products to be sold.
A. 21st century B. 14th to 16th century C. 18th century D. 19th century

13. An actor and a person in-charge of large production projects using the resources provided by the government
A. 21st century B. 14th to 16th century C. 18th century D. 19th century

14. Which of the following is NOT a contributions of entrepreneurship to the economy and society?
A. Introduces innovation C. Create employment
B. Develop new markets D. Implements the decision

15. The sum total of the personality, skills and knowledge that the entrepreneur possesses which are necessary
to effectively perform their functions and responsibilities.
A. Career opportunities B. Key concepts C. Entrepreneurial competencies D. competencies

16. This is understood as an “afterthought” in decision making in which the procedures followed to perform the
task are discussed and various alternatives that could have been followed are considered.”
A. Creative style B. Affect infusion C. Counter-factual thinking D. Overconfidence

17. This is characterized by “holistic and conceptual thinking, entrepreneurs who uses this style tend to be
creative and enjoy experimentation before making decisions.
A. Creative style B. Affect infusion C. Counter-factual thinking D. Overconfidence

18. Mr. Conrado decided not yet to pursue the poultry business because he first wanted to see valid information
or data if this is type of business would succeed or not.
A. Knowing style B. Intuition C. Overconfidence D. Scientific method

19. Mrs. Consolacion decided to sell her company’s computer system because she thinks this is causing the poor
performance of her company.
A. Intuition B. Counter-factual C. Attribution D. Creative style

20. These are people who work for someone else:


A. Aptitude B. Employee C. Entrepreneurs D. Entrepreneurship

21. Mr. and Mrs. Pediapco decided to sell her company’s computer system because she thinks this is causing the
poor performance of her company.
A. Intuition B. Counter-factual C. Attribution D. Creative style
22. Someone whose job is in sourcing, attracting, interviewing, and on-boarding employees to an organization.
A. Teacher B. Fundraiser C. Talent recruiter D. Business reporter

23. “Having clear ideas or foresight of what will be done in the future” what is this characteristic of
entrepreneur?
A. Visionary B. Commitment C. Flexibility D. Confidence

24. People who own, operate, and take risk of a business venture:
A. Self-assessment B. Examination C. Entrepreneurship D. entrepreneurs

25. They understand the importance of business and networking relationships.


A. Sales manager B. Business consultant C. Research and dev’t. director D. Fundraiser

26. What type of entrepreneurial business sells products to people other than the final customer?
A. Manufacturing B. Wholesaling C. Retailing D. Service

27. What type of entrepreneurial business actually produce the products they sell?
A. Manufacturing B. Wholesaling C. Retailing D. Service

28. Which one is NOT a disadvantage of Entrepreneurship?


A. risky B. uncertain income C. you’re the boss D. work long hours

29. At the end of the year, Mike, an entrepreneur who sells different hardware products conducts evaluation of
his strengths and weaknesses to be able to create a new year’s resolution for his business.
A. Self-assessment B. Examination C. Entrepreneurship D. Entrepreneurs

30. Which of the following core competency in entrepreneurship which are related to recognizing and developing
market opportunities through various means?
A. Relationship B. Conceptual C. Organizing D. Opportunity

“Ability may get you to the top, but it takes character to


keep you there”
MRBantolinao

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