TLE 6 Q1 W8 SUMMATIVE TEST

Lemori wanted to put up a business in their small community. Which is the BEST way to start her plan?

• Make a teaser or an advertisement.

• Identify neighbors that are rich and luxurious.

• Conduct a survey to identify potential customers.

• Put up a business that can compete to his neighbor’s business.

Jannine wants to make a simple product. What is her first step or guide in making simple product?

• Advertise your product

• Create the product

• Decide what materials to use.

• Design your product

This refers to the part of the price that covers the product. It is the amount paid for the merchandise

• Capital or Cost of product

• Gross Sales

• Labor cost

• Net Profit

Ben gained 20.00 from his sold simple product amounting to 100.00. How will you compute for the mark-up price?

• Get the 20% of the total cost of the product.

• Get the 20% of the total operating expenses

• Get the 20% of the total cost of product plus total operating expenses

• Get the 20% of the selling price

Angel collected plastic bottles for his TLE project. What simple product will she make out of recyclable materials she collected?

• Bag

• Book Organizer

• Door mat

• Pencil Holder

What is an entrepreneur?

• A person who is in charge of a specific location.
• A person who works for someone else in order to learn skills.
• A person who organizes and operates a business or businesses.
• None of these

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

An entrepreneur is someone who works for themselves.

• True
• False

Most entrepreneurs work long hours, but they create their own schedule.

• True
• False

ALL entrepreneurs have a college degree.

• True
• False