Midterms

Question 1

Republic Act 10679 is also known as

Answer 1

Youth Entrepreneurship and Financial Literacy Program

Question 1

The promotion of youth entrepreneurship and financial literacy program shall be inculcated in all levels of education nationwide

what section of RA 10679

Answer 1

Section 4

Question 2

RA 10679 Section 4 is consistent with what section of RA 10533

Answer 2

Section 5

Question 3

RA10533 or the ____

Answer 3

Enhanced Basic Education Act of 2013

Question 4

shall ensure that the K to 12 curriculum shall be supported by programs on entrepreneurship and financial literacy: Provided, That at the elementary level, the programs referred to shall principally focus on the ideal values necessary to become successful entrepreneurs.

Answer 4

Department of Education

Question 5

shall ensure the promotion of programs on entrepreneurship and financial literacy.

which agencies

Answer 5

Commission on Higher Education
Technical Education and Skills Development Authority (TESDA)

Question 6

Entrepreneurship is a Mindset (3)

Answer 6

Growth oriented
Innovative
Opportunity Focusd

Question 7

From “The Spirit of the Enterprise” “It is making the World forever NEW. It is taking AGGRESSIVE Actions.”

Answer 7

George Glider

Question 8

“It is destroying the old order and creating new ones.”

Answer 8

Joseph Schumpeter

Question 9

can be described as a creative and innovative response to the environment and the process of giving birth to a new enterprise. Such response can take place in any field of social endeavor, business, agriculture, education, social work etc.

Answer 9

entrepreneurship

Question 10

forms of entrepreneurship (3)

Answer 10

social entrepreneurship
business entrepreneurship
techno entrepreneurship

Question 11

In a Business Sense, it is an Idea that has Commercial Potential.

Answer 11

opportunity

Question 12

Something you can make money with, develop a business around it, or create value with it.

Answer 12

opportunity

Question 13

entrepreneurial mindset (3)

Answer 13

opportunity seizing
opportunity screening
opportunity seeking

Question 14

masteries for an entrepreneur

Answer 14

mastery of self
mastery of opportunity
mastery of the enterprise

Question 15

what percent of the world’s job are created by entrepreneurs

Answer 15

90 percent

Question 16

three competencies of complete entrepreneur

originator:
operator:
organizer:

Answer 16

Innovator
Implementor
Inspirer

Question 17

An entrepreneur must have an innovative aptitude, pick the right opportunity, and initiate action. If he/she does not initiate action at the right time the opportunity may be lost. Hence, the ability of an entrepreneur to take initiative is the key to the success of the venture to a great extent.

Answer 17

inititative

Question 18

An entrepreneur should have wide knowledge of the economic and non-economic environment of business like the market, consumer attitudes, technology, etc. In the absence of such adequate knowledge, the decisions taken by him may be poor and will not contribute to the profitability of his business in the long run.

Answer 18

wide knowledge

Question 19

Entering any venture is full of risks and uncertainties. In order to deal with various kinds of risks and uncertainties efficiently, the entrepreneur should have willingness and necessary foresightedness to assume risks. The quantity and quality of risk taking would determine the quality of business decisions.

Answer 19

willingnesss to assume risk

Question 20

An entrepreneur should have an open mind. He/she must possess a dynamic and optimistic outlook so as to predict changes in the business environment and respond effectively without delay.

Answer 20

open mind and optimistic outlook

Question 21

For achieving success in life, one should have confidence in himself/ herself. A person who lacks confidence can neither do any work himself/herself nor inspire others to work. Self-confidence is reflected in courage, enthusiasm and the ability to lead.

Answer 21

SELF CONFIDENCE