ESP _Quarter I_Week 1- The Ideal Entrepreneur!
Choose the letter of the best answer. Write the letter on a separate sheet of paper.
1. A person who starts a business and is willing to risk loss in order to make money.
a. buyer b. seller c. entrepreneur d. manager
2. It is the person who buys goods or services from the seller.
a. product b. service c. buyer d. seller
3. This person owns the store or business establishment and offers goods, products, or
services to those who need it.
a. product b. service c. buyer d. seller
4. It is manufactured following a process or grown and nurtured in order to be sold for a profit.
a. demand b. product c. service d. profit
5. It is a facility supplying a public or market demand.
a. Service b. product c. demand d. goods
6. Something you buy base on your needs and wants is called _____.
a. education b. goods c. bills d. service
7. When you pay something at a store you are the _______.
a. goods b. service c. buyer d. seller
8. A financial gain, especially the difference between the amount earned and the amount
spent in buying, operating, or producing something.
a. service b. profit c. demand d. goods
9. It is defined as an organization or enterprising entity engaged in commercial, industrial, or
professional activities.
a. profit b. product c. demand d. business
10. A consumer’s desire to purchase goods and services and willingness to pay a price for a
specific good or service.
a. profit b. product c. demand d. business
According to Merriam-Webster dictionary, an entrepreneur is “a person who starts a
business and is willing to risk loss in order to make money.” He or she “organizes,
manages, and assumes the risks of a business or enterprise.” This means an
entrepreneur is someone
who is willing to put up the capital needed to set up a business fully aware of the risks
involved.
It is he or she who plans, organizes, and manages the business, hires the people to
help run it, and ensures that the product or service being offered is sold at a reasonable
profit in order to earn.
All around us are businesses run by groups or individuals called entrepreneurs.
Whether they run a small business like a sari-sari store or a big one like a computer
and software company, they are considered entrepreneurs
Starting your own business entails serious hard work. It involves, among others,
activities
such as research, planning, testing, developing, marketing, and the like.
What type of business do you want to get into?
o A business involves selling a product or service or both.
o A product is something that is manufactured following a process, or grown and
nurtured in
order to be sold for a profit.
o A service is a facility supplying a public or market demand. Some examples are
hair salons
offering hair care and hair styling services; bus companies, offering transport
services; and
spas and wellness centers offering massages, skin care treatments, and the like.
Two person or parties involved in marketing transaction such as selling and buying, the
seller and the buyer.
1. The Seller
- the owner of a store or business establishment
- offers goods, products, or services to those who need it
- must learn the art of selling
- the art of selling needs persuasion, good relations with people, patience, and
courtesy toward the prospective -sells products, goods, or services at a
specified amount called selling price.
2. The Buyer
- the person who buys goods or services from the seller
- the consumer who makes use of the goods to meet his/her needs or wants
and those of his family
- also called the end user because they use the good or product or service that meet
the needs and wants of consumers and derive satisfaction from its use
What type of business do you want to get into?
A business involves selling a product or service or both. A product is something that is
manufactured following a process or grown and nurtured in order to be sold for a profit. A
service is a facility supplying a public or market demand.
Some examples are hair salons offering hair care and hair styling services; bus companies,
offering transport services; and spas and wellness centers offering massages, skin care
treatments, and the like
Read the following statements below. Identify and write B if it talks about the Buyer and S if
it’s Seller.
______________1. The owner of the store or business establishment
______________2. The consumer who makes use of the goods to meet his/her needs or wants
and those of his family
______________3. Offers goods, products, or services to those who need it
______________4. Sells products, goods, or services at a specified amount called selling price
______________5. Also called the end user because they use the goods or products or services
that meet the needs and wants and derive satisfaction from its use
______________6. The person who buys goods or services.
______________7. It is the art of offering which needs persuasion, good relations with people,
patience, and courtesy toward the prospective consumers.
______________8. Must learn the art of offering.
______________9. When you pay something at a store
______________10. The person who buys goods or services in the market or store.
