Lesson 1: Introduction to Entrepreneurship

Question 1

The act of creating a business or businesses while building and
scaling it to generate a profit.

Answer 1

Entrepreneurship

Question 2

An important driver of economic growth and innovation.

Answer 2

Entrepreneurship

Question 3

About building a life on your own terms. No bosses. No
restricting schedules. And no one holds you back.

Answer 3

Entrepreneurship

Question 4

An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

Answer 4

Entrepreneur

Question 5

french word that means “between”

Answer 5

entre

Question 6

french word which means “to take”

Answer 6

prendre

Question 7

people who own, operate
and take risk of a business venture.

Answer 7

Entrepreneurs

Question 8

they identify unmet needs in the
marketplace. They provide a service or product
to meet those needs.

Answer 8

Entrepreneurs

Question 9

Why become an entrepreneur?

Answer 9

• Be their own boss
• Pursue Financial rewards
• Pursue their own ideas

Question 10

Characteristics of Successful Entrepreneurs

Answer 10

• passion for the business,
• execution intelligence, - - product/customer focus, and
• tenacity despite failure.

Question 11

true or false: Entrepreneurship produces
more jobs that equate to
an increase in national
income. Small businesses
produce jobs and create
wealth.

Answer 11

TRUE

Question 12

true or false: Entrepreneurship
amplifies economic
activities of different
sectors of society.

Answer 12

TRUE

Question 13

true or false: Entrepreneurship
introduces new and
innovative products and
services.

Answer 13

TRUE

Question 14

true or false: Entrepreneurship

disperses the economic

power and creates

equity.

Answer 14

False : equity –> equality

Question 15

true or false: Entrepreneurship improves
people’s living standards.

Answer 15

True

Question 16

Name at least 3 Famous Entrepreneur in the Philippines

Answer 16

• Tony Tan Caktiong (Jollibee)
• Henry Sy ( SM Investments Corp.)
• Lucio Tan, Sr. ( Philippine Airlines)
• John Gokongwei, Jr. (Uncle John’s)
• Corazon D. Ong (CDO)
• Soccoro Ramos (National Bookstore)

Question 17

The meaning behind JOLLIBEE

Answer 17

jolly= Happy
Bee= hardworking

Question 18

Relevance of Entrepreneurship to SHS Students

Answer 18

• It prepares
  students for an
  uncertain future.
• It will give you a
  room for creativity
  and collaboration.
• It teaches you on
  how to solve a
  problem and it
  helps you to assess
  and uncover your
  skills.