Test I
1. Business
2. Economic activity
3. Profit
4. Entrepreneurship
5. The entrepreneurial mindset
6. Creativity
7. Coco Chanel
8. Problem solving skill
9. Innovation
10. Entrepreneurs
11. Entrepreneurship
12. Motivation
13. Opportunity
14. Strategic planning
15. Action
16. Critical thinking
17. Initiative
18. Entrepreneurial creativity
19. Ford Motor Company
20. Entrepreneur
Test II
1. False - no easy task
2. False - always make sure that you are listening to your customers and meet their ideas
3. False - good strategy
4. True
5. True
6. False - useless/non-actionable steps
7. False - positively can set achievable goals
8. False - Mark Cuban
9. True
10. True
11. False - are risk taker
12. False - thinking big
13. False - Pete Johnson, British business man
14. True
15. False - Henry Ford, Founder, Ford Motor Company
16. True
17. True
18. False - Magic Johnson
19. False - to respond quickly and calmly
20. True
21. False - Barry Horwitz, President, Horwitz & Co.
22. True
23. False - is to stay in business
24. True
25. False - blue oceans are better than red oceans
Test III
CASE 1 CASE 2 CASE 3 CASE 4
CASE 5
Total Income P 1,000,000 950,000 ? = 350,000 ? = 100,000
250,000
Less: Total Expenses P 300,000 ? = 450,000 350,000 120,000
290,000
Net Income/(Loss) P ? = 700,000 500,000 - (20,000) ?=
40,000 or Break even
