14 Questions
What does 'method' refer to in the context of the enterprise?
Efficient production processes
What factors are considered when selecting materials for production?
Cost, quality, and availability
What market research tools are used to determine the product's acceptability?
Both a & b
What does 'processes' represent in the 4 M's of production?
Method
In the 4 M's of production, what is an example of 'machine'?
Equipment
What is one of the primary objectives of conducting a Market Survey?
Determining the products' acceptability in the market
What refers to the process of converting raw materials into something useful?
Conversion
Which of the following is NOT included in the 4 M’s of Production?
Money
What is the essential element of production which refers to the employees of an enterprise?
Manpower
Which of the following balance sheet accounts belongs to current assets?
Cash
Which statement is true about product description and market research?
Product Description should not be included in market research.
What traditional way of collecting information about potential buyers or existing customers is mentioned in the text?
Focus Group Description (FGD)
Which statement is true about conducting market research?
Conducting Market Research may incur additional costs yet is beneficial to the company.
In income classification, who belongs to low middle class according to the text?
Individual earning from P 19,040 – P 38,080 per month
Prepare for your Entrepreneurship Quarter 2 exam with this comprehensive reviewer. Test your knowledge on topics such as efficiency and profitability, product description, material selection, and more.
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