-
7/24/2019 TLE 9 Q2 Exam
1/3
Name: Teacher:Grade and Section: Date:
Basic Entrepreneurship QII Exam
For questions 1 8 choose one !ord "rom the #ox #e$o! that #est
"its the sentence% &ou !i$$ not use a$$ the
!ords so don't !orr( i" (ou ha)e !ords $e"t o)er%
1% producti)it( *% scarcit( +% #ene"its ,% ris-
.% mar-et /% mar-et sur)e( 0% capita$ resource
8% pro"it % tax re)enue 12% corporation
1% 3 44444444444444444444 is an(!here peop$e #u( and se$$ 5oods
and ser)ices .
*% 3 5ar#a5e truc- is an examp$e o" a
44444444444444444444444%
+% The output o" production di)ided #( the inputs used in
production is ca$$ed 4444444444444444444444
,% 6hen a person ma-es an economic decision as a producer or
consumer he or she shou$d compare #oththe costs and the
4444444444444444444444%
.% 3n entrepreneur is someone !ho is !i$$in5 to ta-e a
444444444444444444444 to start or expand a#usiness%
/% The amount $e"t o)er a"ter a #usiness su#tracts a$$ costs
"rom tota$ sa$es re)enues is ca$$ed
444444444444444444444
0% Businesses can 5et in"ormation a#out !hat customers !ant and
are !i$$in5 to pa( #( usin5 a4444444444444444444444%
8% 3 444444444444444444444444 is a t(pe o" #usiness
or5ani7ation%
Questions 9-24 are multiple choice questions. Choose the best
answer.
% 6hich o" the "o$$o!in5 is not a producti)e resource
1% !ater*% mone(
+% teacher,% hammer
12% 3n entrepreneur must pa( to 5et producti)e resources #ecause
the( are:
1% scarce*% expensi)e+% in 5reat supp$(,% $i-e$( to #e taxed
11% To #e success"u$ a #usiness must:
1% produce 5oods instead o" ser)ices%
*% produce 5oods or ser)ices !ith a hi5h price%+% produce 5oods
or ser)ices that consumers !ant%,% produce 5oods or ser)ices usin5
most$( capita$ resources%
-
7/24/2019 TLE 9 Q2 Exam
2/3
1*% 3$#erto #ou5ht a soccer #a$$ "or 9*2 "rom a $oca$ soccer
store% 3s a resu$t o" this purchase
1% 3$#erto 5ained #ut the store $ost%*% #oth 3$#erto and the
store $ost%+% #oth 3$#erto and the store 5ained%,% the store 5ained
#ut 3$#erto $ost%
1+% 3$icia !as 5i)en a 91. 5i"t certi"icate to use at her
"a)orite store% She !ants to choose $ot o" thin5s thatcost 91. #ut
she can't ha)e a$$ o" them 3$icia is "acin5 a pro#$em o":
1% sa)in5*% supp$(+% scarcit(,% demand
1,% In Question 1+ a#o)e suppose 3$icia "ina$$( decided to use
her 91. 5i"t certi"icate on either a tedd(#ear or a t;shirt% I" she
chooses the tedd( #ear !hat is her opportunit( cost
1% 91.
*% 9+2+% the t;shirt,% the tedd( #ear and the t;shirt
1.% o#s the #o(s ha)e is an examp$e o":
1% mar-etin5*% specia$i7ation
+% mar5ina$ cost,% economic exchan5e
-
7/24/2019 TLE 9 Q2 Exam
3/3
*2% In the coo-ie #usiness in question 1 a#o)e Sam Ton( and
6i$$ie ha)e di""erent >o#s #ecause the(!ant to:
1% $earn di""erent >o#s%*% ma-e more coo-ies%+% increase the
price o" their coo-ies%
,% increase the demand "or their coo-ies%
*1% ?aTisha 5ets a 9.22 $oan "rom the #an- to start a #usiness%
She must pa( #ac- the 9.22 #an- $oanand a$so pa( the #an-
4444444444444444444444
1% interest%*% di)idends%+% excess pro"its%,% production
costs%
**% @oe and Aar$os pass out "$(ers to ad)ertise their $a!n
mo!in5 #usiness% B( ad)ertisin5 the( arehopin5 to increase the
4444444444444444444 "or their mo!in5 ser)ices%
1% supp$(*% demand+% capita$ costs,% opportunit( costs
*+% e$$i has a coo-ie #usiness% The ta#$e #e$o! sho!s the sa$es
re)enues and the exp$icit costs o" hercoo-ie #usiness !a5es
in5redients and rent% 6hat is e$$i's pro"it
1% 9/2*% 91*2+% 9182,% 9+22
*,% 6hich is not a !a( that entrepreneurs raise mone( to start a
#usiness 6.4.10
1% sa)in5s*% #orro!+% issue stoc-
,% co$$ect taxes
*.% Short Essa(: 6hat !i$$ #e the #est #usiness (ou thin- is
5ood "or (our communit( 6h(
Sa$es re)enues 91826a5es 9/2Aost o" coo-ie in5redients 9,.
