This is the Multiples Choice Questions Part 17 of TLE. In preparation for the LET Exam, practice, and familiarize every question we have, it might be included in the actual examination. Good luck.
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TLE Part 17
1. Which of the following is the correct definition of the term “entrepreneur”? A person who ______.
a. pursues opportunity without regard to resources
b. start a new business with the aim of making profit
c. seeks to create values for local communities, people or customers by starting new ventures which exploit new products, processes or markets
d. seeks to generate value through creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.
Answer: c
2. Which of the following skills are NOT needed by an entrepreneur?
a. Technical skills
b. Personal entrepreneurial skills
c. Woking skills
d. Business management skills
Answer: c
3. Which of the following statement is INAPPROPRIATE in starting a business?
a. study the concepts and principles of entrepreneurial skills
b. Cope with failures of the business
c. Undergo training on entrepreneurial skills
d. know what characteristics are need to become an entrepreneur
Answer: b
4. Which of the following is NOT a source of fund for Ms. Burgos future business?
a. seek assistance from central bank of the Philippines
b. borrow money from friends and relatives
c. Avail for the government program on financing micro-macro business
d. Use part of the retirement benefit.
Answer: a
5. If her business idea is a boutique, what quality of a future entrepreneur is INAPPROPRIATE?
a. relaxed
b. hard worker
c. risk-taker
d. innovative
Answer: a
6. Which of the following is NOT a characteristic of an entrepreneur?
a. coping with failure
b. irritated
c. opportunity seeker
d. persistent
Answer: b
7. Which among these characteristics of an entrepreneur?
a. Coping with failure
b. Goal setter
c. Futuristic
d. Impassive
Answer: d
8. Which of the following is a primary cause of failure in small business?
a. Poor financial control
b. Poor location
c. Management mistakes
d. Improper inventory control
Answer: b
9. Which these traits gets an entrepreneur off of his/ er feet and puts him/her into action turning daydreams into reality?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
Answer: d
10. Which entrepreneurial traits gives an entrepreneur a positive outlook in life which gives the energy to pursue his/her endeavors?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
Answer: b
11. With which trait is an entrepreneur able to withstand the troubles that come with a starting business?
a. Perseverance
b. Ambition
c. Creativity
d. Enthusiasm
Answer: a
12. Which general function or market involves the physical meeting point for buyers and seller at the point of production or via some other means of communication?
a. Specific functions
b. Exchange functions
c. Physical functions
d. Facilitating functions
Answer: b
13. Which types of marketing functions enables the actual flow of commodities through space and time producers to consumer and their transformation to desirable to the consumer?
a. Specific functions
b. Exchange functions
c. Physical functions
d. Facilitating functions
Answer: c
14. From a societal view point, which of the following statements about marketing objective is NOT true?
a. Assist in the efficient allocation of resources
b. create wealth and promote economic growth
c. improve income distribution among different sectors
d. Maintain instability of supply and demand for marketed goods
Answer: d
15. Which is considered a vehicle for information target market about the enterprise and the products or services?
a. Product
b. Price
c. Place
d. Promotion
Answer: c
16. At the stage of marketing effort does an entrepreneur concentrate on targeting a new market of buyer and talking market share from competitions by price cutting or relaunching the product?
a. introduction
b. growth
c. place
d. decline
Answer: c
17. Which of the following is NOT appropriate in running a small-scale business?
a. keeping clear records
b. verifying profit and loss
c. managing cash flow
d. distribution channel
Answer: c
18. Which marketing channel operates with capital owned directly by the operators and their partners. Or in some cases by shareholders?
a. Co-operatives
b. Independent, locally-based private enterprise
c. Marketing board and other state enterprises
d. Transitional companies
Answer: b
19. At which stage of product life cycle must an entrepreneur decide whether s/he wants to try to rejuvenate the product by inventing in development and aggressive marketing or to quietly admit and exit the market?
a. introduction
b. growth
c. place
d. decline
Answer: d
20. A marketing mix that can have both tangible and intangible aspects and is the thing you offer to satisfy your customer want and needs is _______.
a. product
b. packaging
c. price
d. promotion
Answer: a
