Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ENTREP > SUMMATIVE > Flashcards

SUMMATIVE Flashcards

1
Q
  1. What is considered the first phase in entrepreneurial process?

a) Manage the Enterprise
b) Determine Resources Required
c) Developing Business Plan
d) Identifying and Evaluate Opportunity

A

d) Identifying and Evaluate Opportunity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q
  1. Which phase portrays an overall picture of a business proposal.

a) Managing the Enterprise
b) Determining Resources Required
c) Developing Business Plan
d) Identifying and Evaluate Opportunity

A

c) Developing Business Plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q
  1. Who was the first theorist who developed the idea that “the entrepreneur is a risk taker”?

a) Richard Cantillon
b) Richard Carpenter
c) Adam Smith
d) Richard Cantilever

A

a) Richard Cantillon

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q
  1. What Philippine legal document recognizes
    entrepreneurship as an engine of economic growth?

a) Universal Declaration of Human Rights
b) Magna Carta for Women
c) Philippine Constitution of 1987
d) Philippine Civil Service Law

A

c) Philippine Constitution of 1987

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q
  1. What does per capita output mean?

a) Production per person
b) Production per capitalization
c) Production per country
d) Production per family

A

a) Production per person

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q
  1. What does “to act as a catalyst” mean?

a) Block
b) Prevention
c) Hindrance
d) Mechanism

A

d) Mechanism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q
  1. What represents the creative process of generating, developing, and communication of new ideas?

a) Imagination
b) Ideation
c) Reflection
d) Abstraction

A

b) Ideation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q
  1. What is referred to as a right granted for any device, substance, method, process which is new invention and useful?

a) Trademark
b) Patent
c) Copyright
d) Innovation

A

b) Patent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q
  1. What is considered the legal right of the owner of intellectual property?

a. Trademark
b. Patent
c. Copyright
d. Innovation

A

c. Copyright

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q
  1. What is referred to as a letter, number, word, phrase, sound, smell, slogan, logo, picture, or any aspect of these?

a) Trademark
b) Patent
c) Copyright
d) Innovation

A

a) Trademark

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q
  1. What is referred to as ability, attitude, and a process to use one’s imaginative skill in order to come up with something new?

a) Creativity
b) Patent
c) Copyright
d) Innovation

A

a) Creativity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q
  1. It means technical, procedural and intellectual knowledge.

a) Creativity
b) Expertise
c) Copyright
d) Innovation

A

b) Expertise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q
  1. Which motivation is most effective?

a) Intrinsic
b) Extrinsic
c) Personal
d) Innovation

A

a) Intrinsic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q
  1. When you have no more bosses or managers peering over your shoulder, it means you have:

a) Control
b) Flexibility
c) Freedom
d) Profits

A

c) Freedom

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q
  1. This means each business success becomes your success, and, as your business grows so does your potential income.

a) Control
b) Flexibility
c) Freedom
d) Profits

A

d) Profits

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q
  1. It means you can work when and where you want.

a) Control
b) Flexibility
c) Freedom
d) Profits

A

b) Flexibility

17
Q
  1. Who was the entrepreneur who pioneered in steel manufacturing?

a) Steve Jobs
b) Henry Ford
c) Andrew Carnegie
d) Mark Zuckerberg

A

c) Andrew Carnegie

18
Q
  1. Who was the founder and CEO of Apple Computer?

a) Andrew Carnegie
b) Steve Jobs
c) Henry Ford
d) Mark Zuckerberg

A

b) Steve Jobs

19
Q
  1. Who founded an American car company which generated US$156B in revenue in 2019?

a) Henry Ford
b) Mark Zuckerberg
c) Andrew Carnegie
d) Steve Jobs

A

a) Henry Ford

20
Q
  1. What process is created by an entrepreneur?

a) Business process
b) Economic process
c) Strategic process
d) Entrepreneurial process

A

d) Entrepreneurial process

21
Q
  1. What sector should provide the business environment that creates the basis for growth, stability and future success of entrepreneurs?

a) Academe
b) Government
c) Social media
d) Politics

A

b) Government

22
Q
  1. In what way is entrepreneurship an engine of economic growth?

a) It supports equitable distribution of income and wealth;
b) It sustains production of goods and services
c) It expand productivity
d) All of the above

A

d) All of the above

23
Q
  1. Who said that genius is “1 percent inspiration, 99 percent perspiration”?

a) Henry Ford
b) Mark Zukerberg
c) Andrew Carnegie
d) Thomas Edison

A

d) Thomas Edison

24
Q
  1. Which of the following jobs has the greatest freedom?

a) Government worker
b) Soldier
c) Entrepreneur
d) Teacher

A

c) Entrepreneur

25
Q
  1. Which of the following actions of Andrew Carnegie manifest vision by an entrepreneur.

a) His first job as a bobbin boy.
b) Working as a telegraph messenger.
c) Gaining entry into the local theatre.
d) investing money in a car business

A

d) investing money in a car business

26
Q
  1. Which of the following examples show innovative character by an entrepreneur?

a) Andrew Carnegie’s writing a book;
b) Steve Jobs assembling computers and selling them for profit;
c) Henry Ford suffering from dyslexia.
d) Mark Zuckerberg attending.

A

b) Steve Jobs assembling computers and selling them for profit;

27
Q
  1. Which of the following shows risk bearing character by an entrepreneur?

a) Andrew Carnagie investing money
in car business.
b) Andrew Carnegie writing his book.
c) Henry Ford suffering from dyslexia.
d) Mark Zuckerberg attending

A

a) Andrew Carnagie investing money
in car business.

28
Q
  1. What did the word entrepreneur connote in the ancient times?

a) An inventor of products
b) An organizer of human resources.
c) Conducting promotional activities
a) Provider of large commercial projects to government

A

a) An inventor of products

29
Q
  1. What was the notion of entrepreneur in the 20th and early 21st century?

a) As a risk taker
b) As an organizer and operator of enterprise
c) As an inventor
d) As a politician

A

c) As an inventor

30
Q
  1. Which of the following is not included in the role of entrepreneurship?

a) Initiating and creating change in the society’s business structure.
b) Increasing per capita output of the country
c) Generation of innovation
d) Growth opportunities for political dynasty

A

d) Growth opportunities for political dynasty

ENTREP (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions