Keynesian Theory on Entrepreneurship
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Questions and Answers

What is the main purpose of promoting a peaceful and loving community?

  • To increase competitiveness
  • To have favorable economic ratings
  • To encourage entrepreneurship (correct)
  • To facilitate the flow of money

    • How does entrepreneurship help in the economic recovery process of the Philippines?

  • It facilitates the smooth flow of money in the local market
  • It assists the national government in getting favorable economic ratings
  • It encourages competitiveness and challenges entrepreneurs to improve their products and services
  • It helps find an entrepreneurial niche in the world market (correct)

    • What is the main difference between an entrepreneur and the owner of an ordinary small business?

  • Entrepreneurs aim to have favorable economic ratings, while small business owners do not
  • Entrepreneurs focus on improving their products and services, while small business owners do not
  • Entrepreneurs operate in the global market, while small business owners operate only in the local market
  • Entrepreneurs open businesses even when there are no opportunities, while small business owners open businesses only when there are opportunities (correct)

    • Which of the following is NOT a part of the physical environment that can be a source of entrepreneurial ideas?

    <p>Technological forces (D)</p> Signup and view all the answers

    Which of the following societal environment forces can be a source of entrepreneurial ideas?

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

    What is the basic need that an entrepreneur must fulfill in order to establish a successful business?

    <p>Identify existing business opportunities (C)</p> Signup and view all the answers

    Which of the following is NOT a form of innovation introduced by entrepreneurs according to the text?

    <p>New advertising campaign (D)</p> Signup and view all the answers

    Whose theory emphasized the role of government in entrepreneurial and economic development during times of economic depression?

    <p>John Maynard Keynes (D)</p> Signup and view all the answers

    Which book introduced Alfred Marshall's entrepreneurship theory?

    <p>Principles of Economics (B)</p> Signup and view all the answers

    According to Alfred Marshall's theory, what is the coordinating element among the factors of production (land, labor, capital)?

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

    What is the primary role of the entrepreneur according to the text?

    <p>To introduce innovation in various forms (D)</p> Signup and view all the answers

    Which of the following statements is NOT true according to the Keynesian theory?

    <p>Entrepreneurship is the sole driver of economic development (D)</p> Signup and view all the answers

    What is corporate entrepreneurship?

    <p>A process that occurs within an existing business venture (D)</p> Signup and view all the answers

    What is the primary focus of this text?

    <p>Personal benefits of entrepreneurship in the Philippines (D)</p> Signup and view all the answers

    Why does entrepreneurship impact a wide range of areas in the Philippines?

    <p>As a result of compounding benefits (A)</p> Signup and view all the answers

    What role does entrepreneurship play in the improvement of Filipino lives?

    <p>It broadens creativity and improves financial life (C)</p> Signup and view all the answers

    How does entrepreneurship benefit the local community?

    <p>By contributing to tax collection and creating employment (A)</p> Signup and view all the answers

    Why are the listed contributions of entrepreneurship not exhaustive?

    <p>Because the effects of entrepreneurship are limitless (B)</p> Signup and view all the answers

    Which of the following is NOT part of the industry environment of a business?

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

    Which of the following is NOT considered a cognitive skill for an entrepreneur?

    <p>Ability to manage financial resources (C)</p> Signup and view all the answers

    What is the first step in the scientific approach to solving business problems?

    <p>Defining the real problem (A)</p> Signup and view all the answers

    Which of the following is NOT a source of skills mentioned in the text?

    <p>Training programs (D)</p> Signup and view all the answers

    What does the term 'entrepreneurial skills' refer to?

    <p>The set of cognitive, technical and interpersonal skills required in entrepreneurship (D)</p> Signup and view all the answers

    Why is problem-solving skill important for entrepreneurs?

    <p>Problems are common in managing day-to-day business operations (B)</p> Signup and view all the answers

    What should be written at the center of the first page of the general journal?

    <p>General Journal (D)</p> Signup and view all the answers

    Where should the page number be written in the general journal?

    <p>On the rightmost side of the first page (C)</p> Signup and view all the answers

    What should be written for the date in the general journal?

    <p>The year, month, and day (C)</p> Signup and view all the answers

    How should the debit and credit account titles be written in the general journal?

    <p>The debit account title should be written first, and the credit account title should be indented from it (D)</p> Signup and view all the answers

    What should be done when recording the amount in the general journal?

    <p>The debit amount should be written in the first column aligned with the debit account title (D)</p> Signup and view all the answers

    What is the purpose of account titles in the general journal?

    <p>To provide a description of the type and nature of the business transactions (B)</p> Signup and view all the answers

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