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ENTREP Chapter Test 1

Authored by Rafael Christian Aguilar

Social Studies

12th Grade

ENTREP Chapter Test 1
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is entrepreneurship?

Managing people in an organization
A proactive process of developing a business to earn profit
Working under an employer
Passive income strategy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best illustrates risks and rewards in entrepreneurship?

Earning fixed salary every 15th and 30th
Selling homemade cakes online despite fear of no orders but gaining ₱10,000 profit after one week
Working overtime for promotion
Being assigned as team leader by your supervisor

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is an entrepreneur?

Anyone managing people
A person who invests in stocks
A unique individual with dedication to establish and manage business, acknowledging risks and rewards
Someone who buys products in Shopee

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An entrepreneur is successful when

He/she earns above minimum wage
The envisioned business thrives with regular customers and financial gain
He/she has a lot of debts
He/she works in a government agency

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A young graduate opened a milk tea shop in their barangay, providing jobs to locals. What importance of entrepreneurship is shown?

Controls local wealth
Produces more jobs and increases national income
Elicits economic independence
Amplifies economic activities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A businessman funded a farmer’s cooperative, resulting in increased harvest sales. What importance is illustrated?

Introduces new products
Amplifies economic activities of different sectors
Improves living standards
Controls local wealth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A startup created a mobile app for blind people to navigate. What importance is shown?

Balances regional development
Introduces new and innovative products
Increases national income
Controls local wealth

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