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 (C)</p> Signup and view all the answers

What is typically a challenge for entrepreneurs?

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

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

<p>Flexibility (B)</p> Signup and view all the answers

What is a key responsibility of a business consultant?

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

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

<p>Smarts (B)</p> Signup and view all the answers

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

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

What is NOT a typical educational requirement for entrepreneurs?

<p>Specific degree programs (A)</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. (B)</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 (C)</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 (B)</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. (C)</p> Signup and view all the answers

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

<p>Entrepreneurs (D)</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> (D)</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 (A)</p> Signup and view all the answers

What does Entrepreneurship instill in individuals according to the text?

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

How does Entrepreneurship affect the economy based on the text?

<p>Stimulates the economy (A)</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 (C)</p> Signup and view all the answers

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

<p>Just an economic term (D)</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 (A)</p> Signup and view all the answers

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