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Entrepreneurship Basics

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Questions and Answers

What is the main purpose of entrepreneurship?

To explore creative hobbies

To seek opportunities for personal growth

To develop a business venture and make a profit (correct)

To establish social connections

Which of the following best describes an entrepreneur?

A person who solely focuses on personal gain

A catalyst for change with innovative skills (correct)

An individual limited to traditional methods

Someone who avoids taking risks

What role does an enterprise play in economic development?

Creates obstacles to growth in other sectors

Decreases job opportunities within the country

Contributes to national income and overall economic development (correct)

Promotes poverty and unemployment

Where can the roots of entrepreneurship be traced back to?

Capitalism Signup and view all the answers

What does the term 'entrepreneur' mean?

Someone who takes risks and starts a business Signup and view all the answers

What is the significance of the word 'entrepreneur'?

It highlights an individual's desire to create goods or services needed by the public Signup and view all the answers

What is one of the main societal and economic benefits of entrepreneurship?

Dispersal of economic power and creation of equality Signup and view all the answers

Who is known as the 'Father of the Philippine retail'?

Henry Sy Signup and view all the answers

Which personal entrepreneurial characteristic is directly related to an entrepreneur's desire to be an achiever?

Passionate about business Signup and view all the answers

Who is referred to as the 'Jollibee Man'?

Tony Tan Caktiong Signup and view all the answers

Which cluster in the Philippines identified 10 Personal Entrepreneurial Characteristics (PEC’s)?

Achievement Cluster Signup and view all the answers

What is one of the characteristics of successful entrepreneurs according to the text?

Quality-oriented Signup and view all the answers