1) It is the process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm a) Opportunity seeking b) Opportunity seizing c) Opportunity screening d) Sources of opportunity 2) This is essential to opportunity seeking which allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations. a) Entrepreneurial mind frame b) Entrepreneurial gut game  c) Entrepreneurial heart flame d) Entrepreneurial heart frame 3) It is the ability of entrepreneur that can sense without using the five senses, also known as intuition. a) Entrepreneurial mind frame b) Entrepreneurial gut game c) Entrepreneurial heart flame d) Entrepreneurial heart frame 4) One of the essetials of entrepreneur’s opportunity seeking that refers to the driven passion of an individual. a) Entrepreneurial mind frame b) Entrepreneurial gut game c) Entrepreneurial heart flame d) Entrepreneurial heart frame 5) What variable of societal environment includes income level and employment rate? a) Economic forces b) Sociocultural forces c) Political forces d) Technological forces 6) They are the one that pays cash in exchange to your goods and services. a) Buyers b) Competitors c) sellers d) suppliers 7) The intensity of rivalry among existing firms is characterized to the following factors except one: a) Diversity of rivals. b) Number of competing firms. c) Characteristics of the products or services. d) The product represents a high percentage of the buyer’s cost. 8) The following are the forces competing within the industry except one: a) Potential new entrants and Substitute Products b) Buyers and Suppliers c) Rivalry among existing firms d) Needs and Wants 9) Which of the following good sources of entrepreneurial ideas determine the interest, hobbies and preferences of people. a) Changes in the environment b) Technological discovery c) People’s interest d) Past experiences 10) Societal environment includes the following, except: a) Economic forces b) Sociocultural forces c) Political forces d) Natural resources 11) Which among the following is the result of identifying entrepreneurial opportunities? a) Creation of entrepreneurial ideas b) Opening of entrepreneurial venture c) Sources of opportunity d) Entrepreneurial process 12) What entrepreneurial idea will you recognized, if you consider the new discovery and advancement of technology as source of opportunity? a) Changes in the environment b) Technological discovery and advancement c) Government’s thrust, programs, and policies d) People’s interest 13) Source of entrepreneurial idea where expertise and skills developeb by a person from its previous work can lead to the opening of a related business enterprise. a) Government’s thrust, programs, and policies b) Past experiences c) People’s interests d) D. Technological discovery and advancement

Entrep Assessment 2

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