ACTIVITY 1 IDENTIFICATION Instruction: Identify the term described by each statement.

1. It defines the governance system of the country or the local area of business. relevant entrepreneurial endeavor.

2. This includes the demographics and cultural dimensions that govern the men, animals, plants, and minerals.

3. This includes all natural resources and the ecosystem, habitat of

4. Focuses on the volume produced or converted at each link of the chain

5. Focuses on the economic rather than the volume aspect of the chain.

6. The supply and demand forces mainly drive the macroeconomic environment.

7. Refers to the "big or macro forces” that affect the area, the industry, and the market, which the enterprise belongs to.

8. The new scientific and technological discoveries, which often lead to the launch and commercialization of new products with superior attributes or to rendering the old ones obsolete, are the entrepreneur's nightmares.

9. Allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations.

10. This refers to the ability of the entrepreneur to sense without using the five senses. This is also known as intuition.​