32 Questions
What is the meaning of the word 'entrepreneur'?
Someone who organizes and assumes the risks of a business
What is the main objective of Republic Act No 10679?
To promote entrepreneurship and financial education among Filipino youth
Who coined the term 'entrepreneur'?
Richard Cantillon
What is entrepreneurship?
A mindset related to business ownership and risk-taking
What is the purpose of the Act promoting entrepreneurship and financial education among Filipino youth?
To foster sustained development of young Filipinos in finance and entrepreneurship
What is the origin of the word 'entrepreneur'?
It is derived from French, meaning 'to undertake'
What does entrepreneurship refer to?
The ability to turn ideas into action
What are the three primary reasons that people become entrepreneurs and start their own business?
Desire to be their own boss, desire to pursue their own ideas, financial rewards
What is one of the essential components of entrepreneurship?
The willingness to take calculated risks
What is the importance of entrepreneurship to the Filipino people?
It provides guidelines in their wealth-creating ventures
What is one of the myths of entrepreneurship?
Entrepreneurs are doers only and not thinkers
What is the flow of entrepreneurial benefits in the Philippines?
Contribution of Entrepreneurship, The Flow of Entrepreneurial Benefits, Local Community, Filipino People
What does recitation question about entrepreneurial principles imply?
"Entrepreneurial principles cannot guarantee success in entrepreneurship."
What is the contribution of entrepreneurship to the Philippine economy?
It encourages competitiveness and challenges entrepreneurs to keep improving their products and services.
What is one of the compounded benefits of entrepreneurship for the local community?
It provides employment in the community
What is one of the primary reasons that people become entrepreneurs?
Desire to be their own boss
Entrepreneurship is a mindset.
True
Republic Act No 10679 promotes entrepreneurship and financial education among Filipino youth.
True
The word 'entrepreneur' is derived from the French word 'entreprise.'
False
Richard Cantillon, a French economist, coined the term 'entrepreneur'.
True
There is a single, universally accepted definition of an entrepreneur.
False
The government intends to change the mindset of Filipinos from wanting to be employees to being business owners through Republic Act No 10679.
True
Entrepreneurship only involves seeking opportunities and taking risks.
False
Entrepreneurship refers to an individual's ability to turn ideas into action.
True
One of the essential components of entrepreneurship is the unwillingness to take calculated risks.
False
One of the primary reasons that people become entrepreneurs is the desire to work for someone else.
False
Entrepreneurship provides employment in the local community.
True
Entrepreneurship encourages competitiveness and challenges entrepreneurs to keep improving their products and services.
True
Recitation questions imply that entrepreneurial principles cannot provide assurance of becoming a successful entrepreneur.
True
Entrepreneurs are only doers and not thinkers, according to the myths of entrepreneurship.
False
Entrepreneurship helps make Filipino lives happy, fruitful, and successful.
True
The ability to plan and manage projects is not included in entrepreneurship.
False
Test your knowledge of Chapter 1 topics on entrepreneurship including the definition, characteristics, myths, schools of thought, categories, and the importance of entrepreneurship education. Also, explore Republic Act No 10679 promoting entrepreneurship and financial literacy.
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