ENTREPRENEURSHIP IN TOURISM MIDTERM EXAM
Quiz by Harold Noga
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- Q1
It refers to the economic activity of a person who starts, manages, and assumes the risk of a business enterprise.
entrepreneur
entrepreneurship
tourism
capitalist
60s - Q2
Someone who identifies an economic need, considers an offering of a business solution, proceeds to assemble the resources required, and assumes the risk of either succeeding or failing.
tourism
capitalist
entrepreneur
entrepreneurship
60s - Q3
It refers to the actual introduction of a new product or process.
labor
economy
innovation
competition
60s - Q4
It refers to the discovery or devising of new products and processes.
development
vision
innovation
invention
60s - Q5
It refers to the process by which the ideas and principles generated from the stage of invention are embodied in concrete products and techniques; and
invention
innovation
vision
development
60s - Q6
A very important stage that the entrepreneur must consider venturing to a successful long-term enterprise; He seeks answers to questions regarding potential markets, production, and financing.
late growth stage
early growth stage
start-up stage
prestart-up stage
60s - Q7
It refers to the price paid per unit of time for the services of a durable good, which, most often, refers to land or buildings.
salary
rent
profit
interest
60s - Q8
It is the compensation paid to owners of invested capital.
salary
rent
interest
profit
60s - Q9
The ____________________follows after establishing feasibility. If the enterprise is successful, the option to move to the next stage can be exercised; if not, it will be limited.
the start-up stage
early growth stage
late growth stage
120s - Q10
They are regarded as income and accrue to the account of the entrepreneur.
rent
interest
profit
salary
60s - Q11
It is the final stage when management is structured, long-term financing established, and facilities planning are undertaken.
early growth stage
late growth stage
start-up stage
60s - Q12
A person who has the potential to solve community-based problems and create positive changes in society.
land owner
laborer
tourism entrepreneur
social entrepreneur
60s - Q13
The following are the tasks of an entrepreneur for the survival of a business except...
To earn wages for his efforts.
To decide on the rate of output, in the light of his expectation about demand.
To organize production unit complete with manpower and equipment.
To supply the necessary capital.
60s - Q14
It refers to the different forms of tourist-related business ventures permitted within the National Constitution.
Social Entrepreneurship
Tourism Entrepreneurship
Intrapreneurship
Tourism enterprises
60s - Q15
It is doing business for a social cause in which they develop, fund, and implement solutions to social, cultural, or environmental issues.
Social Entrepreneurship
Tourism enterprises
Tourism Entrepreneurship
Intrapreneurship
60s