Which of these is a common reward for a successful business?
Risk
Profit
Lack of security
Writing a business plan will help an entrepreneur to do which of the following?
Identify the risks involved in running a business
Ignore the risks involved in running a business
Increase the risks involved in running a business
Which of the following is a possible risk for someone who runs their own business?
Business success
Financial loss
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 is not a reward for starting a business?
Working long hours
Independence
Which of the following is not a measure of business success?
Gaining a poor reputation
Growing the business
Winning a business award
Which of the following is not a reason why profit is important for entrepreneurs?
Profit is needed at some point to ensure that a business survives
Profit means that no more risks need to be taken
Profit can be used in a business to help it grow
A dairy farm produces and sells ice-cream. Which of the following is a risk for this business?
The costs of making the ice- cream are expected to fall next year
The business expects to make a loss in the winter
Sales of ice-cream are expected to reach a peak in August
Which of these is most likely to be a cause of business failure?
Poor management
Detailed market research
Providing want customers want
Which of these would decrease the amount of risk faced by a business?
Not doing any market research
Doing market research but ignoring the results
Ensuring there is sufficient money available