What best describes an entrepreneur?
A person that works in a business
A person that sets up a business
A group of people that work together to set up a business
Which of the following best describes what being an entrepreneur involves?
Having enough money to start a business
Being able to work for someone else
Being prepared to take risks
Which of the following statements best describes a gap in the market?
When a customer's wants or needs are not yet being fulfilled by a business
When there are no customers who want a business product
When demand for a product keeps changing
What are the four roles an entrepreneur has in business activity?
Showing initiative, being innovative, identifying opportunities, being a good employee
Being inventive, being innovative, identifying opportunities, organising resources
Showing initiative, being innovative, identifying opportunities, organising resources
Which of the following is not a characteristic of an entrepreneur?
Being hardworking
Determination
Not taking risks
Which of these is a common motive for an entrepreneur?
Risk
Personal satisfaction
Lack of security
Which of these is an example of an innovation?
A car company making both petrol and diesel cars
A lightbulb being adapted to become an energy-efficient LED lightbulb
Coming up with a new idea that nobody has thought of previously
What is a social enterprise?
A business that is set up to make money
A business that is set up for a challenge and personal satisfaction
A business that is set up to achieve objectives related to the community or environment
Which of the following is a possible risk for someone who runs their own business?
Business success
Financial loss
Profit
Which of the following is not a reward for starting a business?
Working long hours
Independence