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Entrepreneurship Quarter 2 Exam Reviewer

14 Questions

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Entrepreneurship Quarter 2 Exam Reviewer

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Questions and Answers

What does 'method' refer to in the context of the enterprise?

Efficient production processes (correct)

Product acceptability in the market

Profitable production systems

Detailed information of a product

What factors are considered when selecting materials for production?

Cost and quality

Quality and availability

Cost, quality, and availability (correct)

Cost, quality, and acceptability in the market

What market research tools are used to determine the product's acceptability?

Focus Group Discussion

Product Demonstration

Both a & b (correct)

None of the above

What does 'processes' represent in the 4 M's of production?

Method Signup and view all the answers

In the 4 M's of production, what is an example of 'machine'?

Equipment Signup and view all the answers

What is one of the primary objectives of conducting a Market Survey?

Determining the products' acceptability in the market Signup and view all the answers

What refers to the process of converting raw materials into something useful?

Conversion Signup and view all the answers

Which of the following is NOT included in the 4 M’s of Production?

Money Signup and view all the answers

What is the essential element of production which refers to the employees of an enterprise?

Manpower Signup and view all the answers

Which of the following balance sheet accounts belongs to current assets?

Cash Signup and view all the answers

Which statement is true about product description and market research?

Product Description should not be included in market research. Signup and view all the answers

What traditional way of collecting information about potential buyers or existing customers is mentioned in the text?

Focus Group Description (FGD) Signup and view all the answers

Which statement is true about conducting market research?

Conducting Market Research may incur additional costs yet is beneficial to the company. Signup and view all the answers

In income classification, who belongs to low middle class according to the text?

Individual earning from P 19,040 – P 38,080 per month Signup and view all the answers