NAVOTAS POLYTECHNIC COLLEGE

ENTREPRENEURIAL MANAGEMENT-PRELIMINARY EXAM

NAME: __________________________________________ DATE: _______________

I. Read the questions carefully. Encircle the correct answer.

1. When entrepreneurs become successful, the nation is immensely benefited.

a.) Entrepreneurship b.) Economic Development c.) Human resources d.) Leadership
2. To achieve economic development, goals, proper management of the labor supply,
education, discipline and motivation is under:
a.) Human resources b.) natural resources c.) capital formation d.) technology
innovation
3. Machines , Factories and Roads
a.) Natural resources b.) capital formation c.) human resources d.) technology
innovation
4. Identifying an economic need.
a.) Entrepreneurs concern b.) Problem at hand c.) Entrepreneurs action d.)
Entrepreneurs task
5. Assembling resources required.
a.) Entrepreneurs concern b.) Problem at hand c.) Entrepreneurs action d.)
Entrepreneurs task
6. Maybe defined as the introduction of new method.
a.) Invention b.) Innovation c.) Development d.) improvement
7. Refers to the process by which the ideas and principles generated the stage of innovation
a.) Invention b.) Development c.) Innovation d.) Process
8. Cordless microphone, microwave oven is an example of
a.) Invention b.) Development c.) Innovation d.) Process
9. Happens when an entrepreneur starts to question the feasibility of an idea.
a.) Late growth stage b.) early growth stage c.) start-up stage d.) prestart-up stage
10. Stage follows after establishing feasibility .
a.) Late growth stage b.) early growth stage c.) start-up stage d.) prestart-up stage
11. Formation of the business, generation of necessary capital.
a.) Prestart-up stage b.) start-up stage c.) early growth stage d.) late growth stage
12. The final stages before the new venture mature into a stable enterprise.
a.) Prestart-up stage b.) start-up stage c.) early growth stage d.) late growth stage
13. Rent, interest , wages/salary and profits.
a.) Factors of Production b.) Economic reward c.) Limiting rewards
14. Land, Capital, Labor and Entrepreneur.
a.) Factors of Production b.) Economic reward c.) Limiting factor for received rewards
15. Have the advantage of switching to another business concept whenever necessary.
a.) Small business b.) Large Business c.) Medium business d.) Corporation
16. The entrepreneur will enjoy ________ as a reward if he succeeds.
a.) Profits b.) wage c.) economic growth d.) labor
17. Hire people, acquire funds and the like.
a.) Profits b.) wage c.) economic growth d.) labor
18. Effective and efficient utilization of the various resource elements.
a.) Labor b.) wage c.) Profit d.) Land owner
19. Refers to the activities of persons or establishments which sell to retailers and other
merchants
a.) Wholesaling b.) Retailing c.) Service d.) Manufacturing
20. Those that provide service to other business .
a.) Personal service b.) Repair Service c.) Business service d.) manufacturing
21. Service include tutorial, or correspondence school .
a.) Entertainment service b.) Education service c.) Business service d.) Hotels service
22. Covers all activities involved in the sale of goods or services to final consumers.
a.) Wholesaling b.) Retailing c.) Service d.) Manufacturing
23. Is one involved in the conversion of raw materials into product by society.
a.) Retailing b.) Service c.) Manufacturing d.) Wholesaling
24. Provide service to a person. Examples are tutoring, massage parlor and voice lesson.
a.) Personal Service b.) Repair service c.) Hotels services d.) Education services
25. Independent management @ small capital requirement
a.) Small business b.) medium business c.) Large business d.) Corporation
26. Uncertainty of income risk and losing your entire capital.
 NAVOTAS POLYTECHNIC COLLEGE
ENTREPRENEURIAL MANAGEMENT-PRELIMINARY EXAM
a.) Large business b.) small business c.) medium d.) Corporation
27.) Study a moral obligation involving the distinction bet. Right and wrong.
a.) Ethics b.) Social responsibility c.) behaviour d.) Individual differences
28.) A formal document indicating the entrepreneurship adapted principles of appropriate
behavior
a.) Code of Ethics b.) Reward and punishment c.) Internal Programs
d.) External Program
29. The right to be informed, right to choose and the right to be heard.
a.) Relations to customer b.) Top Management c.) Ethical issue
d.) Relations with personnel & Employee
30. Workplace safety, quality of life issues & preventing sexual harassment.
a.) Relations to customer b.) Top Management support c.) Ethical issue d.) Relations with
personnel & employee.

II. Matching Type. Fill in the blanks before each item in column A with the corresponding letters in
column B.

A B

______1. rent a. hire people, acquire funds,

and the like

______2. economic growth b. new process of production

______3. assembling required resources c. follows after establishing feasibility

______4. innovation d. labor

______5. invention e. entrepreneur questions the

feasibility of a product

______6. profits f. has the advantages of switching to

another business

______7. pre-start up stage g. discovery of new products and

processes

______8. small business h. landowner

______9. early growth stage i. effective and efficient utilization of

various resource elements

______10. wages j. entrepreneur

III. Choose among the words in the box that correspond to each question.

Need for Entrepreneur Profit Late Growth Stage Skills

Entrepreneurship Innovation Landowner Industry

Responsible Cost Effectiveness Development

1. _______________ perform the function of harnessing the potentials of any or all of the various
elements and the like.

2. _______________ refers to the economic activity of a person who starts, manages, and assumes
the risk of a business enterprise.

3. The entrepreneur will determine and _______________ on the rate of output the firm must
produce.
 NAVOTAS POLYTECHNIC COLLEGE
ENTREPRENEURIAL MANAGEMENT-PRELIMINARY EXAM
4. The entrepreneur will enjoy the _______________ as a reward if he succeeds.

5. The introduction of a new method is referred to as _______________.

6. Innovation must reduce _______________ or improve the quality of products offered for sale.

7. The transition from a new venture to a long-term enterprise consists of the prestart-up stage, the
early growth stage, and the _______________.

8. Rent is the compensation of the _______________.

9. The profits accruing to the entrepreneur are limited by his _______________.

10. _______________ is that activity done by an employee of a corporation who is tasked to launch
new products.

11. __________________ is the study of moral onligation involving the distinction between right

And wrong.

12. __________________ refers to the rules about how entrepreneurs ought to behave.

13. Ethical behavior is influenced by the situation ,________________, individual differences and

Other factors.
14. _______________ is a formal document indicating the entrepreneurs addpted principles of be-

Havior

15._________________is a group of persons who provide advice to the entrepreneur and hiis staff

Concerning sensitive ethical issues.

16. Ethical issues confront entrepreneurships which spring from the relationship between
____________ and the customers

17. The dates of manufacture and expiry on levels are intended to ______________.

18. Preventing sexual harassment in the workplace is one of the resposibilities of the

Entrepreneurto _______________.

19. The right to be heard is one of the _____________ that the entrepreneur must support.

20. If a code of ethics is not sufficient, a system of _____________must be instituted.