EPP 6

SUMMATIVE TEST FOR ENTREPRENUERSHIP

NAME:________________________________________ GRADE AND SECTION:_________________________

A. Direction: Match Column A with Column B. Write the letter of the correct answer on the blank before each
number.
Column A Column B
______1. Marketing Transaction a. also called products or merchandise
______2. Goods b. a business deal between a seller and a buyer
______3. End Users c. to purchase a goods for a specified amount
______4. Buying d. to transfer a goods in return for a sum of money
______5. Sell e. also known as vendor
______6. Profit f. one who acquires goods in exchange for a sum of money.
______7. Services g. one who converts raw materials into finished goods or products.
______8. Seller h. One who uses goods to meet a need or want money earned from sale
______9. Buyer i. money earned from the seller
_____10. Manufacturer j. work done using a skill or expertise in a trade or craft
_____11. Producer k. one who buys in large quantity from manufacturers and producers
l. the quality of a good or product that is suited to the purpose for it will be used.
_____12. Wholesaler
m. one who produces agricultural products like fresh fruits and vegetables.
_____14. Right Quality
n. a plan of action to buy quality goods for a reasonable price.
_____15. Right Price
o. money equivalent to the quality of the good paid for

B. MULTIPLE CHOICE. Choose the letter of the correct answer.

______1. What are the three (3) qualities of being a good entrepreneur?
a. inventive, passionate, caring
b. creative, diligent, tactful
c. creative, resourceful, inventive
d. resourceful,observant,creative

_______2. What kind of buying program that based on wise decisions that the seller or retailer buys his/her
goods from the right sources with the right quality and right quantity and at the right time and right source.
a. sound buying program
b. wise buying program
c. sound selling program
d. wise selling program
_______3. This refers to the part of the price that covers the product. It is the amount paid for the merchandise.
a. profit b. markup c. cost d. expenses

_______4. What is the additional expenses involved in selling the good such as transportation, taxes, and others.
a. profit b. markup c. cost d. expenses

_______5. In starting a business, what is the first step and very important part of starting your own business?
a. interview b. plan c. buy already the goods d. survey

C. ENUMERATION:
1-4 Four Qualities of a Good Salesperson
5-7 Three Components in Computing the Price of the Product
8-10 Three Qualities of a Potential Entreprenuers

D. ESSAY (5pts.)

 Why is seller considered a buyer?

“It’s better to get ZERO, than to CHEAT.”

“It’s better to get ZERO, than to CHEAT.”