Question 1

Entrepreneurship is best defined as:

Accepted Answer

The process of creating and managing a business venture

Answer

The act of buying goods at a low price

Answer

Employment in a company

Answer

A form of charity work

Question 2

Which of the following is NOT part of the 7Ps of Marketing?

Accepted Answer

Profit

Answer

People

Answer

Place

Answer

Product

Question 3

The main purpose of a business plan is:

Accepted Answer

To serve as a roadmap for business success

Answer

To ensure 100% profit

Answer

To eliminate competition

Answer

To set government rules

Question 4

The “Price” element in the marketing mix refers to:

Accepted Answer

The cost customers pay for the product

Answer

The packaging design of the product

Answer

The people working in the business

Answer

Where the business is located

Question 5

Which competency is essential in managing time and resources?

Accepted Answer

Time management

Answer

Artistic skills

Answer

Gardening

Answer

Musical skills

Question 6

Entrepreneurship contributes to economic growth by:

Accepted Answer

Creating jobs and innovations

Answer

Avoiding risks

Answer

Stopping imports

Answer

Limiting competition

Question 7

Which part of a business plan highlights the business objectives?

Accepted Answer

Executive Summary

Answer

Marketing Plan

Answer

Financial Plan

Answer

Appendix

Question 8

Which of the following is an example of a job opportunity in entrepreneurship?

Accepted Answer

Owning a food cart business

Answer

Working as a government tax auditor

Answer

Practicing law

Answer

Teaching mathematics in school

Question 9

“Promotion” in marketing refers to:

Accepted Answer

Efforts to inform and persuade customers

Answer

The store’s location

Answer

The actual physical product

Answer

The number of employees hired

Question 10

A business plan is important for attracting:

Accepted Answer

Investors and lenders

Answer

Competitors

Answer

Employees only

Answer

Tourists

Question 11

The “Product” in the marketing mix refers to:

Accepted Answer

The good or service being offered

Answer

The number of workers in the business

Answer

The advertisement message

Answer

The way it is priced

Question 12

Entrepreneurs are often described as:

Accepted Answer

Risk-takers and innovators

Answer

People who avoid risks

Answer

Workers who only follow instructions

Answer

Those who dislike challenges

Question 13

Packaging is important because it:

Accepted Answer

Protects and enhances product appeal

Answer

Eliminates competition

Answer

Decides the business location

Answer

Replaces production

Question 14

The “People” in the 7Ps include:

Accepted Answer

Customers and employees

Answer

Investors only

Answer

Competitors only

Answer

Politicians only

Question 15

Positioning in marketing means:

Accepted Answer

Placing the product in the customer’s mind uniquely

Answer

Hiring new staff

Answer

Arranging items on a store shelf

Answer

Choosing a business location

Question 16

Why is entrepreneurship relevant to society?

Accepted Answer

It fosters innovation and job creation

Answer

It discourages new businesses

Answer

It reduces competition

Answer

It increases unemployment

Question 17

Which competency is most connected with effective teamwork?

Accepted Answer

Leadership

Answer

Creativity

Answer

Decision-making

Answer

Negotiation

Question 18

The “Executive Summary” of a business plan should:

Accepted Answer

Present a short overview of the entire plan

Answer

List all competitors

Answer

Focus only on financial statements

Answer

Include employee payroll

Question 19

Understanding customer needs is mainly connected with which “P”?

Accepted Answer

Product

Answer

People

Answer

Place

Answer

Price

Question 20

An entrepreneur who studies competitors’ pricing strategies is demonstrating:

Accepted Answer

Market awareness

Answer

Leadership skills

Answer

Artistic talent

Answer

Packaging design

Question 21

Which statement best explains why packaging is important?

Accepted Answer

It influences buying decisions and product safety

Answer

It reduces employee workload

Answer

It controls competitors

Answer

It has no impact on customer choice

Question 22

Which competency best explains problem-solving ability?

Accepted Answer

The skill to find solutions in challenging situations

Answer

The ability to type fast

Answer

The skill of drawing pictures

Answer

The ability to memorize definitions

Question 23

The “Place” in the 7Ps refers to:

Accepted Answer

Distribution channels and location

Answer

The price of the product

Answer

Customer service staff

Answer

The advertisement slogans

Question 24

Why is a financial plan important?

Accepted Answer

It shows expected revenues, expenses, and profits

Answer

It reduces packaging costs

Answer

It identifies staff behavior

Answer

It serves as an advertisement

Question 25

The relevance of studying entrepreneurship in school is to:

Accepted Answer

Prepare students for possible careers in business

Answer

Train students only to become employees

Answer

Discourage students from innovating

Answer

Ensure students avoid risks forever

Question 26

A bakery offers “Buy 1, Take 1.” This is an example of:

Accepted Answer

Price strategy

Answer

Product strategy

Answer

Packaging strategy

Answer

Place strategy

Question 27

Maria opens a coffee shop near a university. Which “P” applies?

Accepted Answer

Place

Answer

Promotion

Answer

People

Answer

Positioning

Question 28

A cellphone shop hires well-trained sales staff to handle customers. Which “P” applies?

Accepted Answer

People

Answer

Promotion

Answer

Price

Answer

Packaging

Question 29

A new bottled water brand uses eco-friendly bottles. Which “P” applies?

Accepted Answer

Packaging

Answer

Place

Answer

Price

Answer

People

Question 30

Pedro wants to sell fruits online with home delivery. This shows an application of:

Accepted Answer

Place

Answer

Price

Answer

Promotion

Answer

Packaging

Question 31

A company reduces product price to attract budget-conscious students. Which “P” applies?

Accepted Answer

Price

Answer

Promotion

Answer

People

Answer

Positioning

Question 32

A start-up writes down its mission and vision to clarify direction. This is an application of:

Accepted Answer

Business plan development

Answer

Customer service

Answer

Price discounting

Answer

Packaging strategy

Question 33

A clothing store promotes its products on TikTok. Which “P” applies?

Accepted Answer

Promotion

Answer

People

Answer

Product

Answer

Place

Question 34

A local restaurant develops new dishes to match customer preferences. Which “P” applies?

Accepted Answer

Product

Answer

Price

Answer

Promotion

Answer

Packaging

Question 35

An entrepreneur explains his business idea to an investor. Which part of the plan is being applied?

Accepted Answer

Executive Summary

Answer

Packaging

Answer

Positioning

Answer

Appendix

Question 36

Which best differentiates “Product” from “Packaging”?

Accepted Answer

Product is the actual item; Packaging enhances protection and appeal

Answer

Product is about price; Packaging is about distribution

Answer

Product is about promotion; Packaging is about people

Answer

Product refers to customers; Packaging refers to employees

Question 37

A business plan’s financial plan is different from its marketing plan because it:

Accepted Answer

Projects revenues and expenses

Answer

Shows sales strategies

Answer

Explains customer demographics

Answer

Describes advertising methods

Question 38

Which of the following is a strength of a food cart business?

Accepted Answer

High mobility and low capital

Answer

Limited to international markets only

Answer

Needs large-scale factories

Answer

Requires very high start-up cost

Question 39

Comparing “Price” and “Promotion,” the key difference is:

Accepted Answer

Price is about cost; Promotion is about informing customers

Answer

Price is about advertising; Promotion is about discounts

Answer

Price is about design; Promotion is about vision

Answer

Price is about people; Promotion is about packaging

Question 40

Which of the following correctly analyzes the role of “People” in business?

Accepted Answer

They provide service quality that affects customer satisfaction

Answer

They are part of the product features

Answer

They determine packaging materials

Answer

They are only customers buying the product

Question 41

Which business idea is most feasible for a student entrepreneur with limited funds?

Accepted Answer

Online retail store

Answer

Automobile manufacturing

Answer

Real estate firm

Answer

Airline company

Question 42

A proposed business plan lacks a target market. The best evaluation is:

Accepted Answer

Needs revision to specify customer groups

Answer

Should only focus on financials

Answer

Acceptable as is

Answer

Should remove marketing section

Question 43

Which packaging is best evaluated as sustainable?

Accepted Answer

Recyclable paper-based box

Answer

Overly decorated containers

Answer

Plastic with excessive wrapping

Answer

Non-recyclable plastic bags

Question 44

Which pricing strategy is most appropriate for a start-up targeting students?

Accepted Answer

Offering bundle discounts

Answer

No price changes

Answer

Setting very high luxury prices

Answer

Increasing price above competitors

Question 45

Which promotional strategy should be evaluated as most effective for small businesses today?

Accepted Answer

Social media marketing

Answer

Word of mouth only

Answer

Waiting for customers without effort

Answer

Ignoring online presence

Question 46

If you were to design a promotional strategy for a small clothing brand, which is best?

Accepted Answer

Creating TikTok campaigns showcasing new arrivals

Answer

Avoiding discounts for new customers

Answer

Ignoring social media presence

Answer

Selling only to family members

Question 47

Which is the best positioning statement for an eco-friendly soap business?

Accepted Answer

Natural soap that cares for your skin and the planet

Answer

The cheapest soap in town

Answer

Soap with no target market

Answer

Luxury soap for celebrities only

Question 48

Which mission statement best fits a start-up bakery?

Accepted Answer

To provide fresh, affordable bread for local communities daily

Answer

To avoid risks in business

Answer

To compete with airlines and hotels

Answer

To become the richest bakery in the world

Question 49

If you were to design packaging for organic tea, the best option would be:

Accepted Answer

Biodegradable paper pouches with eco-friendly labels

Answer

Reusable containers with no brand identity

Answer

Excessive use of plastics and foil

Answer

Non-recyclable metal cans

Question 50

Which business name best demonstrates creativity for a milk tea shop?

Accepted Answer

Brew & Sip

Answer

Generic Tea Shop

Answer

Unnamed Business

Answer

Unbranded Store

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