Lesson 1

Question 1

are the backbone of the economy.

Answer 1

Businesses

Question 2

play an important role in developing the economy through providing the needed products and services including the solution to the problem of unemployment.

Answer 2

Entrepreneurs

Question 3

is encouraged by the economy because it can provide a lot of opportunities for the unemployed people.

Answer 3

Entrepreneurship

Question 4

It will increase per capita income, improve standard of living and increase individual savings, provide revenue to the government in the form of:

Answer 4

income tax,
value added tax,
export duties,
import duties,
and balanced regional development.

Question 5

is a person who creates unique ideas that will be useful for starting a business.

Answer 5

entrepreneur

Question 6

The word “entrepreneur” was derived from the French verb _____, which means____ “ This is pinpointing to those who “undertake” the risk of enterprise.

Answer 6

enterprendre

to undertake.

Question 7

Entrepreneurs are innovators. They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society.

Answer 7

True

Question 8

The enterprise is created by an ____ and the process is called “______.”

Answer 8

entrepreneur

Entrepreneurship

Question 9

the science of converting processed ideas into a remarkable business venture

Answer 9

Entrepreneurship

Question 10

6 Usefulness of the Course to the Students

Answer 10

It develops skills that will be needed in starting up a business.

It enhances knowledge on how to operate business.
It demonstrates how to manage a business.

Learners consider becoming an employer rather than an employee.

Learners change their attitude towards the course as a means of living.

Learners change in personal and career attitudes such as communication, problem-solving, collaboration, motivation, creativity, and teamwork.

Question 11

3 Importance of Entrepreneurship Education

Answer 11

key economic driver

increase the level of knowledge, competence and improve the quality of life

alternative career path

Question 12

2*Factors Affecting Entrepreneurship

Answer 12

Personality Factors

Environmental Factors

Question 13

7 types of Personality Factors

Answer 13

Initiative
Proactive
Problem solver
Perseverance
Persuasion
A planner
Risk taker

Question 14

doing things even before being told.

Answer 14

Initiative

Question 15

• which means he can classify opportunities and seize it

Answer 15

Proactive

Question 16

which means he can retain good relations with other people

Answer 16

Problem solver

Question 17

meaning he will pursue things to get done regardless of challenges

Answer 17

Perseverance

Question 18

• means that he can entice people to buy even if they don’t want to

Answer 18

Persuasion

Question 19

• he makes plans before doing things and does not fail to monitor it

Answer 19

A planner

Question 20

• which means that he is willing to gamble but he will calculate it first

Answer 20

Risk taker

Question 21

include political, climate, legal system, economic and social conditions and market situations

Answer 21

Environmental Factors

Question 22

are considered as the capability, capacity and ability of the learner in handling situations in various areas in business operations such as in marketing, management, production, and finance.

Answer 22

Competencies

Question 23

14 COMMON Competencies in Entrepreneurship
k

Answer 23

Decisive
Communicator
Leader
Opportunity seeker
Proactive
Risk taker
Innovative
Specific Goal Setting
Self-Efficacy

Need for Achievement

Ambition
Willingness to Learn
Adaptability and Flexibility
Interpersonal Skills

Question 24

an entrepreneur must be firm in making decisions.

Answer 24

Decisive

Question 25

an entrepreneur must have a convincing power.

Answer 25

Communicator

Question 26

an entrepreneur must have the charisma to be obeyed by his employees.

Answer 26

Leader

Question 27

an entrepreneur must have the ability to be the first to see business chances.

Answer 27

Opportunity seeker

Question 28

an entrepreneur can control a situation by making things happen or by preparing for possible future problems.

Answer 28

Proactive

Question 29

an entrepreneur has the courage to pursue business ideas.

Answer 29

Risk Taker

Question 30

the entrepreneur has big business ideas, and he does not stop improving and thinking of new worthwhile ideas for his business.

Answer 30

Innovative

Question 31

the entrepreneur has big business ideas, and he does not stop improving and thinking of new worthwhile ideas for his business.

Answer 31

Innovative

Question 32

7 CORE Competencies in Entrepreneurship

Answer 32

Profit Potential Risk bearing Integrity Conceptual Thinking Strategic Thinking Decisiveness Customer Relations Service

Question 33

The entrepreneur can be compensated by his profit coming from the operation.

Answer 33

Profit Potential

Question 34

The entrepreneur needs to gamble but wise enough to offset the risk

Answer 34

Risk bearing

Question 35

An entrepreneur knows what is good and right. Do what is best for everyone and do not act without thinking.

Answer 35

Integrity

Question 36

Review outcome projects in order to understand where problems occurred. Check the impact of the proposed solution to both customers and employees.

Answer 36

Conceptual Thinking

Question 37

An entrepreneur finds ways to do things faster or at less costs.

Answer 37

Strategic Thinking

Question 38

An entrepreneur switches to an alternative strategy to reach a goal. It generates new ideas and innovative solutions.

Answer 38

Decisiveness

Question 39

A good entrepreneur knows what his or her customer needs in order to satisfy them and have a long-term relationship.

Answer 39

Customer Relations Service

Question 40

5 Types of Entrepreneurs

Answer 40

Innovative Entrepreneurs Imitating Entrepreneurs Fabian Entrepreneurs Drone Entrepreneurs Social Entrepreneurs

Question 41

They are those who always make new things by thinking of new ideas. They have the ability to think newer, better and more economical ideas.

Answer 41

Innovative Entrepreneurs

Question 42

They are those who don’t create new things but only follow the ideas of other entrepreneurs.

Answer 42

Imitating Entrepreneurs

Question 43

They are skeptical about changes to be made in the organization. They don’t initiate but follow only after they are satisfied.

Answer 43

Fabian Entrepreneurs

Question 44

They are those who live on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.

Answer 44

Drone Entrepreneurs

Question 45

They are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise development.

Answer 45

Social Entrepreneurs

Question 46

4 Career Opportunities of Entrepreneurship

Answer 46

Business Consultant Teacher Researcher Business Reporter

Question 47

with the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be businessmen.

Answer 47

Business Consultant

Question 48

a graduate of an entrepreneurship can use his knowledge in teaching.

Answer 48

Teacher

Question 49

the entrepreneur can be employed as a researcher by an enterprise.

Answer 49

Researcher

Question 50

the entrepreneur being expert in the field, can be employed as a business reporter.

Answer 50

Business Reporter

Question 51

Environmental Factors

Answer 51

political, climate, legal system, economic and social conditions and market situations

Question 52

Competencies learner in handling situations in various areas in business operations such

Answer 52

marketing, management, production, and finance.

Question 53

Competencies learner in handling situations in various areas in business operations such

Answer 53

marketing, management, production, and finance.