1.1 [Business Activity] The role of business enterprise and entrepreneurship

Created by: mugmaniac
Created on: 11-04-22 11:53

What are the 3 ways why people would want to start their own business?

- They may want to be their own boss

- Have a second way to generate income.

- Identify potential markets they seek potential within.

1 of 5

What is a need and a want?

A need is a definition of an item essential for survival.

An want is a definition of an item that you desire.

2 of 5

Give an example of a want and a need.

Needs:
- Food
- Water
- Shelter

Wants:
- Electronics
- Cars

3 of 5

What are the 4 characteristics of a successful entrepreneur.

- Creativity
- Risk taking
- Determination
- Confidence

4 of 5

What are the risks and rewards of starting a business?

Risk:
- Loosing money overall when starting a business
- Affecting health when you initially start the business.

Rewards:
- The greater the risk the greater the reward.
- Independence having to be your own boss.

5 of 5

Other cards in this set

Card 2

Front

What is a need and a want?

Back

A need is a definition of an item essential for survival.

An want is a definition of an item that you desire.

Card 3

Front

Give an example of a want and a need.

Back

Card 4

Front

What are the 4 characteristics of a successful entrepreneur.

Back

Card 5

Front

What are the risks and rewards of starting a business?

Get Revising

1.1 [Business Activity] The role of business enterprise and entrepreneurship