SUMMATIVE Flashcards
(30 cards)
- What is considered the first phase in entrepreneurial process?
a) Manage the Enterprise
b) Determine Resources Required
c) Developing Business Plan
d) Identifying and Evaluate Opportunity
d) Identifying and Evaluate Opportunity
- Which phase portrays an overall picture of a business proposal.
a) Managing the Enterprise
b) Determining Resources Required
c) Developing Business Plan
d) Identifying and Evaluate Opportunity
c) Developing Business Plan
- Who was the first theorist who developed the idea that “the entrepreneur is a risk taker”?
a) Richard Cantillon
b) Richard Carpenter
c) Adam Smith
d) Richard Cantilever
a) Richard Cantillon
- What Philippine legal document recognizes
entrepreneurship as an engine of economic growth?
a) Universal Declaration of Human Rights
b) Magna Carta for Women
c) Philippine Constitution of 1987
d) Philippine Civil Service Law
c) Philippine Constitution of 1987
- What does per capita output mean?
a) Production per person
b) Production per capitalization
c) Production per country
d) Production per family
a) Production per person
- What does “to act as a catalyst” mean?
a) Block
b) Prevention
c) Hindrance
d) Mechanism
d) Mechanism
- What represents the creative process of generating, developing, and communication of new ideas?
a) Imagination
b) Ideation
c) Reflection
d) Abstraction
b) Ideation
- What is referred to as a right granted for any device, substance, method, process which is new invention and useful?
a) Trademark
b) Patent
c) Copyright
d) Innovation
b) Patent
- What is considered the legal right of the owner of intellectual property?
a. Trademark
b. Patent
c. Copyright
d. Innovation
c. Copyright
- What is referred to as a letter, number, word, phrase, sound, smell, slogan, logo, picture, or any aspect of these?
a) Trademark
b) Patent
c) Copyright
d) Innovation
a) Trademark
- What is referred to as ability, attitude, and a process to use one’s imaginative skill in order to come up with something new?
a) Creativity
b) Patent
c) Copyright
d) Innovation
a) Creativity
- It means technical, procedural and intellectual knowledge.
a) Creativity
b) Expertise
c) Copyright
d) Innovation
b) Expertise
- Which motivation is most effective?
a) Intrinsic
b) Extrinsic
c) Personal
d) Innovation
a) Intrinsic
- When you have no more bosses or managers peering over your shoulder, it means you have:
a) Control
b) Flexibility
c) Freedom
d) Profits
c) Freedom
- This means each business success becomes your success, and, as your business grows so does your potential income.
a) Control
b) Flexibility
c) Freedom
d) Profits
d) Profits
- It means you can work when and where you want.
a) Control
b) Flexibility
c) Freedom
d) Profits
b) Flexibility
- Who was the entrepreneur who pioneered in steel manufacturing?
a) Steve Jobs
b) Henry Ford
c) Andrew Carnegie
d) Mark Zuckerberg
c) Andrew Carnegie
- Who was the founder and CEO of Apple Computer?
a) Andrew Carnegie
b) Steve Jobs
c) Henry Ford
d) Mark Zuckerberg
b) Steve Jobs
- Who founded an American car company which generated US$156B in revenue in 2019?
a) Henry Ford
b) Mark Zuckerberg
c) Andrew Carnegie
d) Steve Jobs
a) Henry Ford
- What process is created by an entrepreneur?
a) Business process
b) Economic process
c) Strategic process
d) Entrepreneurial process
d) Entrepreneurial process
- What sector should provide the business environment that creates the basis for growth, stability and future success of entrepreneurs?
a) Academe
b) Government
c) Social media
d) Politics
b) Government
- In what way is entrepreneurship an engine of economic growth?
a) It supports equitable distribution of income and wealth;
b) It sustains production of goods and services
c) It expand productivity
d) All of the above
d) All of the above
- Who said that genius is “1 percent inspiration, 99 percent perspiration”?
a) Henry Ford
b) Mark Zukerberg
c) Andrew Carnegie
d) Thomas Edison
d) Thomas Edison
- Which of the following jobs has the greatest freedom?
a) Government worker
b) Soldier
c) Entrepreneur
d) Teacher
c) Entrepreneur
