Entrepreneurship and the Philippine Economy
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Questions and Answers

Which of the following best defines an entrepreneur?

  • A person who enjoys taking risks in business
  • A person who enjoys the rewards of a business
  • A person who sets up a business with the aim of making a profit (correct)
  • A person who creates a new business

    • What is the difference between a small business and an ordinary small business?

  • A small business practices the principles of entrepreneurship, while an ordinary small business does not (correct)
  • A small business is owned by an entrepreneur, while an ordinary small business is not
  • A small business is more successful than an ordinary small business
  • A small business is larger in scale than an ordinary small business

    • Which cluster of entrepreneurial character traits includes the trait of being an opportunity seeker?

  • Achievement cluster 1.3
  • Achievement cluster 1.2
  • Achievement cluster 1.1 (correct)
  • Achievement cluster 1.4

    • What does it mean for an entrepreneur to be committed?

    <p>Accepts full responsibility for what has been promised to the customer</p> Signup and view all the answers

    Which entity benefits from the flow of entrepreneurship?

    <p>Philippine economy</p> Signup and view all the answers

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