1.1 the role of business enterprise and entrepreneurship

Question 1

the purpose of business activity

Answer 1

to satisfy the need and wants of customers and in return make a profit.

Question 2

entrepreneur

Answer 2

a person who takes the risk of starting and running a business enterprise.

Question 3

spotting an opportunity

Answer 3

the ability to see the need for a particular product or service that customers need (a gap in the market)

Question 4

enterprising characteristics

Answer 4

the feature of an entrepreneur which include being determined creating and having the ability to take risks