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 Entrepreneurship
First Year

Module 1
Business, Money and Growth

What this module is about

Nice meeting you, my dear student! Let’s talk about business, how it began and how
it is doing at present. Start your search by learning the concepts of business, money and
entrepreneurship and how these affect the economy of our nation.

What you are expected to learn

This module is designed for you. At the end of the module, you are expected to have
achieved the following:

1. traced the circulation of money;

2. defined entrepreneurship in the context of small and medium-scale industries;
3. described the role of entrepreneurship in economic growth; and
4. identified the various business opportunities in the community.

How to learn from this module

You start exploring a new world – the world of business. Who knows, someday you
may become one of the successful entrepreneurs our country can be proud of. However,
you have to:

1. study the readings very well;

2. perform the activities and work on the self-check exercises;
3. perform the suggested tasks to reinforce learning and gain insights into specific
topics; and
4. answer the pretest and the posttest.

Okay, are you ready now? Before proceeding, take the pretest first. This test is
particularly prepared to determine your previous knowledge of the lessons you are about to
study.

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 PRETEST

Multiple Choice:

Directions: Read each question very well. Choose the letter of the correct answer and write
it on your notebook.

1. The circulation of money started when the

a. traders of one tribe exchanged goods with other tribes

b. Chinese traded with the Americans
c. Filipinos paid coins in exchange of goods
d. people invented paper

2. Aling Ester paid P 300.00 for the goods she bought at a grocery store. What
system of exchange took place?

a. barter economy
b. trading
c. money economy
d. selling

3. Mang Mario has some savings. He wants his money to earn and decided to put
up his own business. Which of the following type of business is the most
appropriate for him to establish?

a. small business
b. micro business
c. medium business
d. macro business

4. It is an organized activity of people that produces and sells goods and services.

a. transaction
b. selling
c. business
d. macro business

5. Which of the following types of business enterprises is medium in type?

a. CBC Bakeshop
b. Jessa’s Store
c. Jenny’s Parlor
d. Lito’s Garment Factory

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 6. Vida, the owner of a first class restaurant, prepared a recipe that was very
appealing to customers. What process took place in Vida’s case?

a. production
b. assembling
c. creation
d. innovation

7. If more people engaged in business, our country can avail of

a. added income
b. a stable and productive economy
c. a better quality of life for its citizens
d. more products for sale

8. Individuals engaged in selling goods and services are

a. Suppliers
b. Creditors
c. Entrepreneurs
d. Agents

9. Which of the following best describes small and medium-scale enterprises?

a. The owner earns more.

b. It is easy to manage.
c. The area served is not limited.
d. No limit as to capital requirement.

10. Elsa’s Handicraft did not succeed in business although it was properly put up.
The people in the community seemed not interested to buy Elsa’s product.
What do you think is the reason for this?

a. The price of the product is not reasonable.

b. The handicraft business does not meet peoples’ needs.
c. Materials used for production are not of good quality.
d. Customers are not given discounts on the items.

You may refer to Page 18 for the key to corrections. If you were able to answer all the
items correctly, congratulations! However, if you failed to get the correct responses in all the
major items, start studying the succeeding activity.

Take time to study and understand the meaning of the following words which you
come across in this module. These words will help you grasp the message of this module.

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 Lesson 1
The Development of Circulation of Money

Terms Meaning of Terms

1. Money Anything accepted as a medium of exchange
2. Trader One who engages in business or commerce
3. Barter To give in exchange for something
4. Resources Supplies and materials
5. Market The user or consumer of the product

Activity 1

Do you know that the circulation of money started in the very early times. Traders
then used a system of exchange different from the present.

The illustration below has something to do with the practice of money circulation.
Write something about the pictures inside the circles. Use a separate sheet of paper.

Do not proceed to the next page until you have finished this activity.

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 Do you think you were able to do the right thing? If yes, okay! If not, try to read the
brief explanation on the topic.

Do you know
that....

During the early times, traders of one tribe

exchanged goods with other tribes.

Later on, export and import of goods among

nations came into being. The practice is called world
trade.

These activities in the past refer to the “barter

economy” because people traded goods with other
goods for their use.

Today, we use money or “currency” to pay for

goods and services. This practice is called “Money
economy”.

Self-check:

Matching type. Match Column A with Column B. Write the letter of the correct answer
on the space before the number.

A B

1. The beginning of money circulation a. Currency

2. Export and import of goods among nations b. Trading
3. The other term for “money” c. Money Economy
4. The system of exchange of goods and d. World Trade
services in terms of money e. Barter Trade
5. Goods and services traded for other goods

Lesson 2

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 Entrepreneurship in the Context of Small
and Medium Scale Industries

This lesson dwells on small types of business which are very common in the
Philippines. You only need to have a small amount of money to start a business in your
community. These small and medium business enterprises are important sources of the
livelihood of people, who are called “small entrepreneurs”. They put up small stores that sell
goods needed by the people in the community. These people are doing business. Business
means an organized activity that produces and sells goods and services. People who take
the risks of operating a particular business are “entrepreneurs”.

For further knowledge of the lesson, study the following presentation of types of small
entrepreneurship and their features.

Hi, I’m Aling Lina, owner of a

sari-sari store. I manage the
store, sometimes with the help
of my daughter. I placed in it a
small capital, which I could only
afford. Much work on my part,
but it’s okay.

Welcome to the “Lasang Pinoy”

Restaurant. Come and enjoy
our delicacies. Our restaurant is
famous for “sinigang sa miso.”
We offer and guarantee
personalized services.

This is GMRC Garment

Factory, manufacturer of baby
dresses. We produce quality
products at affordable prices.
Come and try our products.

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 Can you identify now the types of entrepreneurial activities based on the
presentations? Try doing the following activities to find out the extent of your learning about
entrepreneurship.

Activity 2

Following the foregoing presentation, fill up the table below. Write down a simple
description of each type of small entrepreneurship.

Type of Small Entrepreneurship Description

1.
2.
3.

How did you find the activity? Do you think you were able to get every number right?
If not, here are further information on the lesson.

There are three types of small entrepreneurship. As shown in the presentation, the
first is a sari-sari store, a typical example of micro-business. The owner heads the
enterprise and employs one or two individuals to help him/her.

Presentation 2, on the other hand, describes a small business enterprise owned

and managed by an individual or group with only enough resources to continue its
operations. Other examples for a small business like this are grocery stores and bakeshops.

The third presentation characterizes medium business, owned and operated by a

single person, two business partners or a corporation. A supermarket is an example of this
type of business.

Activity 3

This time you are going to make a survey of the different business enterprises in
your community. Classify them into micro, small and medium business. Just place check
(✓ ) mark in the corresponding column where the type of business belongs:

Business Enterprises Micro Small Medium Name of Owners

Note: Checking of the activity will be done when the student reports to his/her teacher
on the scheduled date. Added details regarding the survey will be discussed.

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 Self-check :

Identification: Complete each word by writing the missing letters to know the correct answer.

__t__p___ e__ 1. Individuals engaged in small and medium businesses.

_u_i__s_ 2. An organized activity of people that sells goods

and services.

__c__ _u_i_e__ 3. An enterprise owned and operated by an individual

and two partners.

_ _ d _ _ m b _ s _n _ _s 4. The owner as the head of the enterprise.

__p__a_ 5. It is limited in amount to start a business.

Lesson 3

Role of Entrepreneurship in Economic Growth

Activity 4

List down the things you have at home.

Have you ever thought of asking yourself the following questions?

“If we do not have all these things, will it be easier for us to live?” Who do you think
should be credited for providing us these things?

Certainly, the manufacturers of the products or the businessmen who are creative.
Being creative, they were able to innovate and produce products for the buying public.

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 This lesson will help you find out the role of entrepreneurship in economic
development. There are comic strips for you to read. Enjoy reading, and at the same time,
take note of the important messages the lesson gives you.

Entrepreneurship plays a very important role in the economic growth and

development of the country. The greater the number of business enterprises, the higher the
taxes our government can raise. When more taxes are collected, more government projects
are implemented that are beneficial to the people.

To help you find out the role of entrepreneurship in economic development, read the
comic strips below.

Because of Mrs. Gee, a

working wife used a computer in
her office, a washing machine to
do the laundry, a television, cell
phone, and other gadgets which
enables her to work faster, save
time, money and effort. Isn’t that
wonderful?

Hello, I’m Ms. Entre, at your

service. Do you see those
workers in the factory? I gave
them opportunities for
employment.

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 Do you know that I pay P
25,000 just for taxes alone? But it’s
alright, I am doing fine. See the
skyways, the long bridges, the public
school buildings and government
hospitals? You can use the services
How nice your house is! With of these conveniences because of
all the conveniences you need, - a the taxes that I contribute to the
car, good education for your government.
children, good food, what more
could you ask for? The quality
of your life has truly improved.

Activity 5

Were you able to get the message of Ms. Entre? Please write them down on the lines
below:

1.
2.
3.
4.
5.

Activity 6

Using the survey results of the survey you made in Activity 3, make a list of the
contributions of small entrepreneurs for the improvement in your community. Write your
observations below:

Contributions of Small Entrepreneurs to my Community

1.
2.
3.
4.
5.

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 Self-check:

Paragraph completion: Complete the sentences by writing the missing word/s to form a
paragraph.

is the ability to think of new ways of doing things. Through this,

the entrepreneurs were able to contribute something for the development of our
. The factories and industries they established help in the creation of
. Through employment, people can now afford to buy life’s amenities,
hence their improves. With the taxes of the entrepreneurs and
employees, the government is able to increase its .

Lesson 4

Business Opportunities in the Community

We need good services in our daily life. Hence, opportunities for doing business are
always available. Do you want to be one of those opportunity seekers? This lesson will help
you decide.

Below is a conversation between two friends, Dan who wants to put up a business
enterprise and is looking for a good site. The other one is Lito, his close friend. They have
not seen each other for a long time. They meet in a fast food chain in Barangay Masikap,
the place where Lito resides. While enjoying their snacks, they exchanged experiences and
started to plan as well.

That’s why I’m here!

I’m looking for another
How’s life now? I
site, because I am
heard you are
planning to opena
very successful
new branch of my
businessman
business to offer my
now.
products and services
Congratulations,
here. I also want a
Dan!
possible business
partner.

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What a coincidence! I
also want to open a Okay! Let’s keep in mind
business enterprise. the needs of people here,
Maybe we could particularly their buying
come up with a good habits.
idea.

We don’t have a bakery The bakery business is also in

yet. That’s why we envy my mind. At start, we do the
our cousins from the delivery scheme, to give the
other town. They can people here a taste of the
have “hot pandesal” every products of our bakery.
day.

How about the drainage?

Don’t worry about the the water service? Will these
ingredients. The not be a problem?
grocery store at the
market sells all your
baking needs.
We shall see that these are
in good order. We do not
want to do them any harm.
I think we should set
another day to discuss
See you again next time! Call
more about our plan.
me up first, to confirm your
arrival. Bye!

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Activity 7

I hope you enjoyed the conversations between Lito and Dan. Below are questions to
find out if you have learned something from the conversation. Write your answers on the
blanks below.

1. What was Dan’s purpose in going to Barangay Masikap?

2. In the conversation, what factors were considered in putting up a business

enterprise?

Self-check:

Puzzle

In the puzzle below, identify at least five factors to consider in searching for business
opportunities. Encircle the words that may be arranged vertically, horizontally and even
diagonally. Write your answer on a separate sheet or in your notebook. Show your answers
to your friends and classmates to validate all the responses you wrote in your notebook.

Be able to recall the remaining terms you generated from the puzzle.

M M M I I A R Y M H I F
E A E R E S O U R C E S
G M T S A V I N G S A R
S A O E C S K I A K C S
N R S O R U R C E S B K
E K O C G I K M A T E I
E E H O R P A E T O H L
D T S U E L L L B O R L
S C P K M A N A S E R S
A D E M A N D S U P P Y

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 LET’S SUMMARIZE

• The circulation of money started during the early times when people traded goods with
other goods, using the resources they have, until it became the practice among nations.
Today, currency is used to pay for goods and services and comes in paper and metal
form.

• There are three types of small entrepreneurship, namely: micro, small, and medium
business, from which small entrepreneurs could choose to start business. When properly
managed, business becomes profitable and paves the way for possible expansion.

• Entrepreneurship has a very important role in the economic growth and development of
the country. The greater the number of business enterprises, the higher the taxes our
government can raise. When more taxes are collected, the quality of their life eventually
changes.

• Business opportunities always exist, but an entrepreneur must be resourceful. Would-be

entrepreneurs should keep in mind the vital factors in setting-up a business.

POSTTEST
Directions: Choose only the letter of the correct answer. Write the answers in your answer
notebook.

1. The development of the circulation of money started when the -

a. traders of one tribe exchanged goods with other tribes

b. Chinese traded with the Americans
c. Filipinos paid coins in exchange for goods
d. People invented paper money

2. Aling Ester paid P 300.00 for the goods she bought at a grocery store. What
system of exchange took place?

a. barter economy
b. trading
c. money economy
d. selling

15
3. Mang Mario has some savings. He wants his money to earn and decided to put
up a business of his own. Which of the following is the most appropriate for him to
put up?

a. small business
b. micro business
c. medium business
d. macro business

4. It is an organized activity of people that produces and sells goods and services.

a. transaction
b. selling
c. business
d. macro business

5. Which of the following business enterprises is medium in type?

a. CBC Supermarket
b. Jessa’s Store
c. Jenny’s Grocery Store
d. Suwerte Bakeshop

6. Vida, the owner of a first class restaurant, prepared a recipe that has become
very appealing to customers. What process is involved in this situation?

a. production
b. assembling
c. creation
d. innovation

7. If more people engaged in business, our country can have

a. added income of the government

b. a stable and productive economy
c. better quality of life for the citizens
d. more products for sale at the market

8. Individuals engaged in selling goods and services are called

a. suppliers
b. creditors
c. entrepreneurs
d. agents

9. Which of the following best describes small and medium-scale enterprises?

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 a. The owner earns more.
b. It is easy to manage.
c. The area served is not limited.
d. No limit as to capital requirement.

10. Elsa’s Handicraft did not succeed in business although it was properly put up.
The people in the community seemed not interested to buy Elsa’s product.
What do you think is the reason behind these?

a. The price of the product is not reasonable.

b. The handicraft business does not meet the peoples’ needs.
c. Materials used for production are not of good quality.
d. Customers do not enjoy discounts.

This is the end of Module 1. By now, you should have gotten a perfect score. In case
you did not do well in the posttest, go over the missed items again. Try to learn more about
entrepreneurship. Thank you for being patient, honest, and committed. See you again in the
next module.

ANSWER KEY
Pretest / Posttest

1. a
2. c
3. b
4. c
5. a
6. d
7. d
8. c
9. b
10. b

Lesson 1: Self-check
1. b
2. d
3. a
4. c
5. e

Lesson 2: Self-check
1. Entrepreneur
2. Business
3. Micro business

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 4. Medium business
5. Capital

Lesson 3: Self-check

1. entrepreneurship
2. economy
3. employment
4. quality of life
5. national budget

Lesson 4: Self-check

1. resources
2. demands
3. materials
4. skills
5. needs

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