Introduction to Entrepreneurship: Concept of Entrepreneurship
30 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the origin of the word 'entrepreneur'?

  • Spanish
  • French (correct)
  • German
  • Italian

    • What characterizes entrepreneurs?

  • Passive and traditional
  • Risk-averse and conventional
  • Cautious and uncreative
  • Innovative and risk-taking (correct)

    • What is a key aspect of entrepreneurship according to the text?

  • Generating unique ideas (correct)
  • Following market trends blindly
  • Avoiding risks at all costs
  • Sticking to traditional methods

    • How does entrepreneurship contribute to economic development?

    <p>By maximizing output from resources</p> Signup and view all the answers

    What is one way in which entrepreneurship improves the standard of living?

    <p>By creating productive organizations that provide goods and services</p> Signup and view all the answers

    What is a key aspect of an entrepreneur's decision-making process?

    <p>Identifying alternatives and comparing them in terms of cost and benefits</p> Signup and view all the answers

    What is the Profit Potential related to entrepreneurship?

    <p>The level of return to the entrepreneur for taking risks</p> Signup and view all the answers

    Which type of entrepreneur is known for making new things by generating new ideas?

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

    What characterizes Imitating Entrepreneurs?

    <p>Following ideas of other entrepreneurs</p> Signup and view all the answers

    Which type of entrepreneur is skeptical about making changes and only follows once satisfied?

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

    What do Drone Entrepreneurs typically rely on?

    <p>Labor of others</p> Signup and view all the answers

    Which type of entrepreneur drives social innovation in various fields like education and health?

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

    What are the 4Cs of marketing from the consumer's perspective?

    <p>Consumer's needs, Consumer's cost, Consumer's convenience, Communication to customer</p> Signup and view all the answers

    According to Dr. Roberto, what is considered the base P in the marketing mix?

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

    Which components are classified as the three support Ps according to Dr. Roberto?

    <p>Placement, Pricing, Promotion</p> Signup and view all the answers

    What distinguishes tangible products from intangible products?

    <p>Tangible products have measurable characteristics while intangible do not.</p> Signup and view all the answers

    Which support P is responsible for making the product available to the target market?

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

    What does AIDA stand for in the remodeled marketing approach?

    <p>Attention, Interest, Desire, Action</p> Signup and view all the answers

    What is the core product in the context of product levels?

    <p>The benefit offering that satisfies a need and want</p> Signup and view all the answers

    Which of the following is an example of an augmented product?

    <p>Refund guarantee for defective products</p> Signup and view all the answers

    What does 'Customer Care' signify in the context of augmented products?

    <p>Promised attention to customer needs and availability for inquiries</p> Signup and view all the answers

    Why is understanding Philippines business laws important for entrepreneurs?

    <p>To ensure compliance, protect interests, and foster business growth</p> Signup and view all the answers

    What does the 'Actual Product' refer to in the context of product levels?

    <p>Physical delivery of the purchased product</p> Signup and view all the answers

    Which component of an augmented product ensures that a defective product can be refunded, replaced, or repaired within a specific period?

    <p>Warranty guarantee</p> Signup and view all the answers

    What is the first step entrepreneurs in the Philippines need to undertake to legally establish a business?

    <p>Undergo registration overseen by the Securities and Exchange Commission</p> Signup and view all the answers

    Which government body oversees the registration process for sole proprietorships and partnerships in the Philippines?

    <p>Department of Trade and Industry (DTI)</p> Signup and view all the answers

    What is a key component of the Philippine tax system that businesses need to understand to ensure compliance?

    <p>Value-added tax (VAT)</p> Signup and view all the answers

    Why is it important for entrepreneurs in the Philippines to navigate tax registration, reporting, and payment obligations effectively?

    <p>To prevent potential penalties</p> Signup and view all the answers

    Which professionals can provide valuable insights tailored to the specific business needs of entrepreneurs navigating Philippine business laws?

    <p>Legal professionals specializing in business law</p> Signup and view all the answers

    What role does the Department of Trade and Industry play in the establishment of businesses in the Philippines?

    <p>Handles registration for sole proprietorships and partnerships</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser