Direction: Encircle the letter of the correct answer.1. Known as world trade

a. export and import of goods among nationsb. circulation of money in the early timesc. exchange of goods with other tribesd. exchange foods for other things

2. Used to pay goods and services and is the medium of exchange in trading with other countries.a. other goods c. foodsb. money d. things

3. The system of exchange through which goods and services are traded in the community, using the medium of money.a. barter economy c. money economyb. economy d. technology

4. The system of exchange through which goods and services are traded in exchange for land, clothing for food, and food for services.a. barter economy c. money economyb. economy d. technology

5. People with some money to start with, put up small stores that sell food and other needs of the people in the community. a. micro entrepreneurs c. medium entrepreneursb. large entrepreneurs d. small entrepreneurs

6. An organized task of people to produce and sell goods and services is a. business c. industryb. economy d. technology

7. Who takes the risk of organizing and operating a certain kinds of business is an a. entrepreneurship c. entrepreneurb. small business d. business owner

8. A very small business in which the owner is the principal workera. micro business c. medium businessb. macro business d. small business

9. Owned and manage by an individual or group and has only enough resources to continue operating. Grocery, bakeshop and restaurant belong toa. large business c. small businessb. medium business d. micro business

10.Business owned and operated by a single person, two business partners or a corporation.a. large business c. small businessb. medium business d. micro business

11.Persons engaged in selling goods and servicesa. entrepreneur c. ownerb. business people d. traders

12.An enterprise manage by its ownera. large business c. small businessb. micro business d. medium business

13.A feature of a small business enterprisea. personalized services c. public serviceb. greater capital d. lesser work

14.Manager of a small businessa. owner c. small businessb. entrepreneur d. businessmen

15.The ability to create something new, or to think of new ways of doing things.a. discovery c. innovationb. invention d. restoration

16.Refers to seed money, equipment, machines and materialsa. capital c. supplyb. demand d. liability

17.Expertise in business management and operationa. creativity c. innovativenessb. entrepreneurial d. salesmanship

18.President of various business enterprises and that manufactures of passenger jeeps.a. Leonardo Sarao c. Leonardo da Vincib. Leonardo Leonardo d. Leonardo Madrazo

19.Part of the national budget comes from taxes paid by _________.

a. wealthy families c. entrepreneursb. poor families d. foreigners

20.______________helps solve unemployment among the people.a. innovators c. business managementb. inventors d. business enterprise

21.It exist at all times, because people need goods and services to survive.a. demand c. business needsb. business opportunities d. supply

22.Factor in searching for business opportunities that ask: What products are in demand?a. the need of the community c. available resourcesb. skills and interests d. market

23.Factor in searching for business opportunities that ask: Do you have money for capital?a. the need of the community c. available resourcesb. skills and interests d. market

24.Factor in searching for business opportunities that ask: Does the particular business activity meet your interest?a. skills and interests c. available resourcesb. the need of the community d. market

25.Factor in searching for business opportunities that ask: Who will buy your products?a. market c. suppliers of raw materialsb. manpower d. technology

26.Factor in searching for business opportunities that ask: Are materials always available?a. suppliers of raw materials c. marketb. manpower d. technology

27.Factor in searching for business opportunities that ask: Are expert workers available?a. suppliers of raw materials c. marketb. manpower d. technology

28.Factor in searching for business opportunities that ask: Is your product or service new or improved?a. suppliers of raw materials c. marketb. technology d. manpower

29.Includes all activities relating to the sale of goods and services direct to consumers.a. wholesaling c. retailingb. selling d. buying

30.The link between the producers and consumers.a. retailer c. wholesalera. buyer c. seller

31.An activity concerned with obtaining the right kind of goods in the right amount, at the right time, at the right price and, from the right source.a. purchasing c. retailingb. buying d. selling

32.The value that a retailer sets for the article for sale. It is the amount of money paid for goods or services.a. ceiling c. priceb. mark-up d. sales

33.Margin of difference between cost price and selling price.a. selling price c. mark-downc. c.o.d. d. mark-up

34.Checking the quantity and quality of merchandise purchased.a. mark-up c. receivingb. purchasing d. price

35.An activity concerned with obtaining food of the right kind, at the right price from the right source.a. mark-up b. receivingb. purchasing d. price

36.Requires wise purchasing, vigilant checking, proper storage of goods, and reasonable pricing.

a. wholesaling c. pricingb. purchasing d. retailing

37.This sales type requires the customers to pay for cash for the goods he/she buys and store delivers the goods to his/her home.a. Cash-Send or Cash Deliver Sale c. Cash-Take-Saleb. Charge-Send or Charge-Deliver d. Charge-Take-Sale

38.The customer pays for the goods and takes these homes with him/her.a. Cash-Send or Cash Deliver Sale c. Cash-Take-Saleb. Charge-Send or Charge-Deliver d. Charge-Take-Sale

39.The goods are charged to the customer and then deliver to his/her home.a. Charge-Send or Charge-Deliver c. Cash-Take-Saleb. Cash-Send or Cash Deliver Sale d. Charge-Take-Sale

40.The customer takes home the merchandise that has been charged to him/her.a. Charge-Take-Sale c. Cash-Take-Saleb. Cash-Send or Cash Deliver Sale d. Cash-Send or Cash Deliver Sale

41.Upon delivery of the merchandise to his/her home the customer pays cash for it.a. Lay-Away or Will-Call Sale c. C.O.D. Sale b. Installment Sale d. Part-Cash-Part Charge Sale

42.The customer and the storeowner agree that a certain amount be paid on a specified date until the merchandise is fully paid.a. Lay-Away or Will-Call Sale c. C.O.D. Sale b. Installment Sale d. Part-Cash-Part Charge Sale

43.This type of sale requires the customer to order a merchandise and request the store to lay-it away until he/she calls for it at the near future. The customer makes a deposit, and the store agrees to hold the merchandise for a specified period of time.a. Part-Cash-Part Charge Sale c. C.O.D. Sale b. Installment Sale d. Lay-Away or Will-Call Sale

44.A part of the amount of the merchandise is paid in cash by the customer, and the rest of the amount is charged to his/her account.a. Part-Cash-Part Charge Sale c. C.O.D. Sale b. Installment Sale d. Lay-Away or Will-Call Sale

45.Production of goods and services.a. manufacturing b. retailingb. wholesaling d. purchasing

46.Activities/benefits offered for sale.a. services c. installmentb. retailing d. wholesaling

47.Anyone who engages in entrepreneurial activities/enterprises.a. entrepreneur c. servicesb. entrepreneurship d. retailing

48.Customer and storeowner agreement on the amount to be paid by the customer to the latter on specified dates.a. selling price c. mark-upb. installment d. mark-down

49.Customer pays for the merchandise upon its delivery to him/her.a. c.o.d. c. mark-upb. mark-down d. installment

50.Manufacturing activity that has a continuous production.a. Continuous Manufacturing or Flow Shop c. Intermittent Manufacturing b. Batch Manufacturing d. Project Manufacturing

51.Manufacturing activity that is characterized by a drop out in production for a certain period of time.a. Continuous Manufacturing or Flow Shop c. Batch Manufacturingb. Intermittent Manufacturing or Job Orders d. Project Manufacturing

52.Manufacturing activity that falls midway between continuous flow and the job order type.a. Flow Shop c. Project Manufacturingb. Job Orders d. Batch Manufacturing

53.The products are brought to it instead of the products moving from one area to another.a. Project Manufacturing c. Flow Shop

b. Batch Manufacturing d. Job Order54.The creation of goods, services or utility.

a. utility c. manufacturingb. manufacturer d. processing

55.Means satisfying human wants and needs.a. utility c. manufacturingb. manufacturer d. processing

56.The process of converting raw materials into products, where the entrepreneur leads production.a. manufacturer c. processingc. manufacturing d. utility

57.Is developed through factors that influence the person. Allowing the person freedome to express his/her own ideas and to try these out.a. innovative c. creativityb. decisiveness d. optimism

58.A conducive setting which includes natural resources and location.a. land c. laborb. demand d. capital

59.Refers to seed money, equipment, machines, and materials.a. land c. capitalb. demand d. labor

60.The extent of the current need for the product.a. demand c. capitalb. labor d. entrepreneurial skills

61.Occupational and managerial capabilities.a. demand c. entrepreneurial skillsb. labor d. capital

62.The product currently needed in the community isa. in demand c. oversupply of productsb. wanted only by a few d. adequate supply

63.Pertains to the physical and mental tasks and efforts of workersa. capital c. laborb. demand d. supply

64.Refers to activities an individual performs for other people for which he/she is paid.a. labor c. servicesb. capital d. demand

65.Extent to which people patronize a product.a. good location c. human resourcesb. market demand d. capital

66.Site of business enterprise.a. good location c. human resourcesb. market demand d. capital

67.Talents, skills and diligence of people.a. good location c. human resourcesb. market demand d. capital

68.The most important factor in choosing a business enterprise. The kind of enterprise, its size, location and operation depend upon the availability of funds.a. good location c. current business trendsb. market demand d. capital

69.Current demand of the people.a. current business trends c. human resourcesb. market demand d. capital

70.The first step in entrepreneurial activity.a. planning c. staffingb. directing d. organizing

71.In planning you have to determine what you want to achieve in putting-up a business in order to give direction to your actions.a. establish your goals c. determine your capitalb. study your market d. analyze your managerial skills

72.In planning you have to know how much money or funds you have for your business plan.a. establish your goals c. study your marketb. determine your capital d. analyze your managerial skills

73.You need to determine the buying capacity of your customer.

a. establish your goals c. analyze your managerial skillsb. study your market d. determine your capital

74.You must determine your knowledge to handle business records and transactions.a. analyze your managerial skills c. determine your capitalb. establish your goals d. study your market

75.Determining what is to be done or what business to put up.a. planning c. organizingb. staffing d. directing

76.Deciding on procedures to be implemented. What tasks to perform and how to accomplish them.a. plannning c. organizingb. staffing d. directing

77.Employing qualified persons to assist in the business operation.a. staffing c. organizingb. planning d. directing

78.Guiding people in the implementation of the plan through direct supervision, orientation and development programs.a. staffing c. directingb. planning d. organizing

79.Assessing the flow of the business, to find out whether it is making good or not.a. staffing c. evaluatingb. planning d. directing

80.In choosing the best location for your business: it should be near the source of supply.a. cost of labor c. accessibilityb. reliability of transportation facilities d. availability of water and waste

disposal facilities81.In choosing the best location for your business: it should be near the source of

supply.a. cost of labor c. reliability of transportation facilitiesb. accessibility d. availability of water and waste

disposal facilities82.In choosing the best location for your business: it should be near the source of

supply.a. reliability of transportation facilities c. accessibilityb. cost of labor d. availability of water and waste

disposal facilities83.In choosing the best location for your business: it should be near the source of

supply.a. cost of labor c. accessibilityb. reliability of transportation facilities d. availability of water and waste

disposal facilities84.The recording and reporting of all business transactions for easy reference and

for use in making future business decisions.a. bookkeeping c. accountingb. management d. recording

85.A typewriter with bigger printa. pica c. bicab. elite d. delite

86.A typewriter with a center point of 50 on the scale and with small print.a. pica c. bicab. elite d. delite

87.The key or lever used to return the carriage to the right and start a new line.a. carriage return c. left carriage releaseb. platen d. paper guide

88.The lever at an end which allows the carriage to be moved by hand.a. carriage return c. left carriage releaseb. cylinder knob d. paper guide

89.A handle on both ends of the cylindera. cylinder knob c. paper guideb. regulator d. card holder

90.A lever that controls space between linesa. paper bail c. paper guide

b. regulator d. card holder91.A rubber roller which makes the paper move around.

a. paper bail c. paper guideb. platen or cylinder d. card holder

92.The blade against which the paper is placed.a. paper bail c. carriageb. paper guide d. card holder

93.The part where cards and envelops are pressed close to the cylinder.a. paper bail c. paper guideb. regulator d. card holder

94.The key lever or button that is used to adjust the margin setting.a. paper bail c. paper guideb. regulator d. margin stop

95.It indicates the scale point where the machine is ready to print.a. cylinder c. paper guideb. printing point indicator d. card holder

96.Adjust the paper to the cylinder.a. paper bail c. paper guideb. regulator d. card holder

97.Loosens the paper to straighten or remove it from the printer.a. paper bail c. paper releaseb. regulator d. card holder

98.The lever on the right that frees the carriage so it can be removed.a. paper release c. paper guideb. carriage release d. card holder

99.The top moving part that carries paper.a. platen c. paper guideb. carriage d. card holder

100. Moves carriage one space at a time.a. paper bail c. space barb. regulator d. back space key

101. Places the tab stop at the desired point.a. tabulator c. tab clear keyb. tab set key d. card holder

102. Releases carriage to move to a point where a tab is set.a. tabulator c. tab clear keyb. tab set key d. card holder

103. Advances the carriage one space at a time.a. paper bail c. space barb. regulator d. back space key

104. Removes the tab stops at a time.a. tabulator c. tab clear keyb. tab set key d. card holder

105. Unlocks the margin stop.a. margin stops c. tab clear keyb. margin release d. card holder

106. Disengages the ribbon or any part of it if it has two colors.a. ribbon regulator c. ribbon tabb. ribbon color control d. ribbon holder

107. The left hand guide keya. A S D F c. J K L ;b. B S D F d. L M N

108. The right hand guide keys area. A S D F c. J K L ;b. B S D F d. L M N

109. The qualities of a good typist.a. speed and effort c. speed and accuracyb. accuracy and effort d. mastery and speed

110. The first mechanical device developed to help man compute.a. abacus c. step wheel machineb. rotating wheel calculator d. Mark I

111. The ______ started the use of the abacus in computing.a. Chinese c. Japaneseb. Turkish d. Vietnamese

112. The French mathematician who made the rotating wheel calculator.a. Charles Babbage c. Blaise Pascalb. Gottfried Van Liebiz d. Joseph Marie Jacquard

113. The “rotating wheel calculator” was invented during the Process data in continuous 16th century the ____________.a. Age of Scientific Restoration c. Age of Scientific Renovationb. Age of Scientific Revolution d. Age of Scientific Resolution

114. The mechanical device that could perform all the four operations such as addition, subtraction, multiplication and division and could calculate square roots.a. step wheel machine c. rotating wheel calculatorb. punch card machine d. abacus

115. The device that is used to automate weaving.a. step wheel machine c. rotating wheel calculatorb. punch card machine d. abacus

116. Considered as the “Father of Modern Computers”.a. Charles Babbage c. Blaise Pascalb. Joseph Marie Jacquard d. Howard Aiken

117. The first step in the development of the modern computer.a. Mark I c. ENIACb. EDVAC d. EDSAC

118. The first complete electronic digital computer.a. Mark I c. ENIACb. EDVAC d. EDSAC

119. The first computer to operate for internally stored instruction.a. Mark I c. ENIACb. EDVAC d. EDSAC

120. Process data in continuous forms at high speed.a. large scale computer c. medium size computerb. super computers d. analog computers

121. Largest and fastest machine with a capacity of 50 million operations per second.a. large scale computer c. medium size computerb. super computers d. analog computers

122. Provide reading numbers accurately than analog computers, because they measure and represent quantities in distinct variables.a. digital computer c. medium size computerb. excel computers d. analog computers

123. Programmed to perform many functions.a. general purpose computer c. medium size computerb. special purpose computer d. analog computers

124. Capable of great operating speed, larger memory and high speed input and output devices.a. large scale computer c. medium size computerb. super computers d. analog computers

125. Performs only a specific set of operation.a. general purpose computer c. medium size computerb. special purpose computer d. analog computers

126. Is equivalent to 1 billionth of a second.a. millisecond c. secondsb. nanosecond d. minute

127. An electronic devise designed to generate useful information through proper manipulation of data.a. digital computer c. calculatorb. computer d. robots

128. The physical unit associated with computera. hardware b. software c. microchip d. application

129. A set of instructions or programs that are created by programmers to control the computer’s response to user input.

a. hardware b. software c. microchip d. application

130. The heart and brain of the computera. hardware b. CPU c. primary storage d. application

131. Provides output in audio forma. hardware b. printer c. speech synthesizer d. cd

132. Supervises or monitors the activities performed by the entire computer system.a. primary storage b. control unit c. main storage d. storage

133. The memory or main storagea. primary storage b. software storage c. main storage

d. storage134. Performs arithmetical and logical operations. It is where data is manipulated.

a. arithmetic logic unit b. primary storage c. primary storage d. main storage

135. Prints processed data in a form people can read.a. printer b. scanner c. monitor d. c.p.u.

136. A television which like video screen supplies what is known as soft copy, since it does not give you a permanent record.a. printer b. scanner c. monitor d. c.p.u.

137. The bridge between the computer and the user a. operating system b. computer system c. application program d. control

138. Data gathered and entered into the computer in a form acceptable to the computer.a. processing b. input c. output d. control

139. This is the stage involved in the manipulation of data or the performance of operations on the entered data, according to program or a list of instructions.a. input b. processing c. output d. control

140. The product of the processing stage.a. input b. processing c. output d. control

141. A collection of fieldsa. bit b. byte c. field d. record

142. A group of bitsa. file b. byte c. databank d. bit

143. The smallest unita. bit b. byte c. file d. databank

144. A collection of related recorda. data bank b. file c. record d. storage

145. A collection of logically related filesa. file b. databank c. field d. record

146. A combination of bytesa. bit b. byte c. field d. record

147. A computer is an _______________ device designed to generate useful information.a. electrical b. electronic c. perfect d. important

148. A computer is an __________ object which needs human intervention for its operation.a. animate b. amazing c. inanimate d. useful

149. If properly manipulated, a computer can produce __________ results.a. accurate b. perfect c. correct d. incorrect

150. A computer has the capacity to produce data ______ than any type of machine.a. faster b. heavier c. important d. slower