Business Unit 1 Setting up a Business

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1. what qualities are entrepreneurs likely to have?

  • able to take this exam for me, willing to take this exam for me, oh god help
  • able to take calculated risks, driven, motivated/ able to motivate
  • nice hair, singer, works in school
  • motivated, smart, skilled factory worker, that one guy no one knows the name of from NIrvana
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2. Markets are dynamic. This means that they:

  • are always changing
  • stay the same
  • stay the same for a set period of time

3. correct spelling?

  • entruprenuer
  • entreprener
  • entrepreneur
  • entrupeneur

4. a stakeholder is:

  • anyone with a stake in the business
  • vampire killers
  • anyone that can cook steaks
  • someone that holds steaks

5. what should be considered when locating a firm?

  • the price of air
  • location of : suppliers, customers, competition, communication
  • the price of music on iTunes
  • location of : Walt Disney's body, customers, roads
  • location of : animals (farms), suppliers, band member's houses


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