business studies unit 1 entrepreneurs

entrepreneurs :

A entrepreneur is someone who owns a business . this perosn has provided capital to the business and  is willing to take risks based on research in order to achieve business success. if sucessful they will recieve profit however if not sucessful they could face personal ruin.

three qualities  of an entrepreneur :

• risk taker
• ability to learn from mistakes
• innovation
• organistaion

The government is keen to encourage enterprise due to the following reasons:

• creates employment
• help the economy 
• reduces unemployment rate in that area
• provides creater competition and consumer choice. 

Past paper questions involving entrepreneur topic:

"explain what it means to be enterprising". [2 marks] 2017

"why does the governement encourage enterprise, explain two reasons " [4marks] 2017

" explain two entreprenurial charactersicists bob would need to have." [6 marks] 2016 

first answer :

an entrepreneur is someone who owns a business and has provided capital to it. they are…