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ENTREP 1ST PRELIM

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26 views

ENTREP 1ST PRELIM

Uploaded by

Jeany Pearl Eltagonde
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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ARKSTONE ACADEMY, INC.

Pag-Asa Drive, Mabini Extension, Zone III, Digos City


A.Y 2024-2025

First Preliminary Examination Score:


Entrepreneurship 20

Name: __________________________________ Section: ______________________


Date: ___________________________________ LRN: ______________________
Instructions: Read each question carefully. Write only the letter of the correct answer
on a separate sheet of paper.
1. Why is entrepreneurship considered important for economic growth?
A) It leads to fewer job opportunities
B) It limits technological innovation
C) It reduces competition in established industries
D) It encourages the creation of new businesses and markets
2. How do entrepreneurs contribute to societal well-being?
A) By introducing products or services that solve social problems
B) By reducing the competition in the market
C) By focusing solely on profit generation
D) By limiting market growth
3. Which of the following is a common competency needed for entrepreneurs?
A) Resistance to change
B) Aversion to risk-taking
C) Ignoring customer needs
D) Strong communication and problem-solving skills
4. What is the role of networking in entrepreneurship?
A) To avoid new opportunities
B) To limit exposure to new markets
C) To focus only on product development
D) To build relationships and exchange ideas with other professionals
5. Which core competency is crucial for entrepreneurs to effectively manage their business
growth?
A) Time management
B) Emotional intelligence
C) Avoiding market competition
D) Technical expertise in every field
6. Which of the following is a core competency related to risk-taking?
A) Always choosing the safest option
B) Ignoring market trends and changes
C) The ability to avoid risks completely
D) The ability to evaluate, assess, and manage risk intelligently

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7. Which job opportunity is ideal for an entrepreneur after successfully running a business?
A) Venture capitalist or business consultant
B) Full-time employee in a corporate setting
C) Retired from all business activities
D) Government official
8. Entrepreneurs looking for career expansion can consider which of the following?
A) Focusing only on hobbies and passions
B) Avoiding opportunities for career growth
C) Working in a corporate job unrelated to entrepreneurship
D) Opening new franchises or expanding existing businesses
9. What is the first step in identifying a market problem that needs to be solved?
A) Designing a product
B) Creating a business plan
C) Ignoring customer complaints
D) Conducting market research and gathering customer feedback
10. Which of the following best represents a market need?
A) A gap in the market where a customer problem remains unsolved
B) Products that already have many competitors
C) A product with no demand
D) A highly saturated market
11. Which technique helps entrepreneurs identify the right opportunity to pursue?
A) Seeking, screening, and seizing opportunities based on customer needs
B) Sticking to the first idea without evaluation
C) Following trends without research
D) Ignoring competitors
12. What is the best approach for an entrepreneur to propose a solution to a market problem?
A) Copy existing products from competitors
B) Develop a product without customer feedback
C) Avoid seeking external feedback on the product
D) Use market research, prototyping, and customer feedback
13. What must an entrepreneur do when analyzing a market need?
A) Focus only on personal preferences
B) Ignore customer input when developing a product
C) Prioritize market trends without considering consumer behavior
D) Identify existing gaps and customer pain points in the market
14. Why is it important to understand the market need before proposing a solution?
A) To ensure the product will meet customer expectations
B) To create products without conducting any research
C) To reduce the need for customer feedback
D) To avoid dealing with competition
15. How can an entrepreneur determine which product or service will meet market needs?
A) By researching and understanding customer preferences and market trends
B) By copying competitors' products without modification
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C) By developing the first idea that comes to mind
D) By relying solely on internal opinions
16. What role does prototyping play in determining the best product or service for a market
need?
A) It serves as a final version of the product
B) It’s only useful for physical products, not services
C) It is an unnecessary step in the product development process
D) It allows for testing and gathering feedback before finalizing the product
17. What factors should an entrepreneur consider when screening proposed solutions?
A) Only the price of the product
B) The number of competitors in the market
C) The personal preferences of the entrepreneur
D) Viability, profitability, and customer requirements
18. How does screening solutions help in selecting the right product or service?
A) It ensures the solution is practical, viable, and meets market demand
B) It ensures the entrepreneur’s idea is completely unique
C) It ignores customer feedback and focuses on innovation
D) It avoids any form of competition
19. When selecting the best product or service to meet a market need, what is the
entrepreneur's key consideration?
A) Whether it solves the identified customer problem effectively
B) The number of competitors in the industry
C) The entrepreneur’s personal preferences
D) The cost of development
20. What is the purpose of the unique selling proposition (USP) in entrepreneurship?
A) To differentiate a product/service from competitors by highlighting its unique features
B) To appeal to the broadest possible audience without targeting any specific group
C) To make a product more complex and harder to understand
D) To lower the cost of a product

Prepared by: Checked by:

JEANY PEARL D. ELTAGONDE, LPT VIRGINIA S. CADIZ, MAED


Subject Teacher School Principal

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