Importance of Entrepreneurship Module 1 Quiz
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Questions and Answers

What personal attribute includes persistence and the ability to bounce back after rough times?

  • Self-confidence
  • Dedication (correct)
  • Flexibility
  • Leadership

    • Which personal attribute involves the ability to create rules and set goals?

  • Leadership (correct)
  • Flexibility
  • Smarts
  • Passion

    • What is a key required skill for entrepreneurs?

  • The ability to work independently
  • The ability to delegate tasks
  • The ability to maintain a conventional job
  • The ability to multitask (correct)

    • Which attribute refers to the extremely strong desire to achieve success?

    <p>Passion</p> Signup and view all the answers

    What is typically a challenge for entrepreneurs?

    <p>Consistent and stable earnings</p> Signup and view all the answers

    What is defined as the ability to move quickly in response to changing market needs?

    <p>Flexibility</p> Signup and view all the answers

    What is a key responsibility of a business consultant?

    <p>All of the above</p> Signup and view all the answers

    Which attribute comes from thorough planning and reduces uncertainty and risk?

    <p>Smarts</p> Signup and view all the answers

    What is a key skill needed for a sales role in entrepreneurship?

    <p>All of the above</p> Signup and view all the answers

    What type of position would someone with entrepreneurship training and education be well-prepared for?

    <p>All of the above</p> Signup and view all the answers

    What is NOT a typical educational requirement for entrepreneurs?

    <p>Specific degree programs</p> Signup and view all the answers

    What is a key difference between entrepreneurs and employees based on the text?

    <p>Entrepreneurs value wealth over job security, while employees value job security over wealth.</p> Signup and view all the answers

    Which group tends to have more control over the direction of the company they are involved with?

    <p>Entrepreneurs</p> Signup and view all the answers

    What is a common feature of entrepreneurs according to the text?

    <p>They have a high tolerance for risk</p> Signup and view all the answers

    How do entrepreneurs and employees differ in terms of income tax payment based on the text?

    <p>Entrepreneurs pay taxes on net income, while employees pay taxes on total income.</p> Signup and view all the answers

    Which group is more likely to make money even when others are asleep?

    <p>Entrepreneurs</p> Signup and view all the answers

    What is described as the spark that drives the development of new products or services according to the text?

    <p><em>Creativity</em></p> Signup and view all the answers

    What is a key objective of studying Entrepreneurship according to the text?

    <p>To understand basic concepts and characteristics</p> Signup and view all the answers

    What does Entrepreneurship instill in individuals according to the text?

    <p>Confidence and creativity</p> Signup and view all the answers

    How does Entrepreneurship affect the economy based on the text?

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

    According to the 1987 Philippine Constitution, what role does entrepreneurship play?

    <p>It supports equitable distribution of income and wealth</p> Signup and view all the answers

    What key aspect is Entrepreneurship more than according to the text?

    <p>Just an economic term</p> Signup and view all the answers

    In what ways does Entrepreneurship contribute to economic development as mentioned in the text?

    <p>By ensuring social justice and innovation</p> Signup and view all the answers

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