1.1.3 Role Of A Buisness Entreprise

Question 1

What is Business activity and what is the purpose of it?(2mark)

Answer 1

-The purpose of business activity is to take inputs, add value to them, and create products which meet customer needs(1mark)

-produce good or services while adding value(1mark)

Question 2

5 type of adding value(5mark)

Answer 2

-branding (1mark)
-quality (1mark)
-USPs(Unique selling points) (1mark)
-convenience (1mark)

Question 3

What is the Role of an Entrepreneurship(1mark)

Answer 3

willing and able to create a new business idea or invention and takes risks in pursuing success(1mark)

Question 4

What’s the difference between an Entrepreneur and Entrepreneurship?
(2mark)

Answer 4

Entrepreneurship-creating and managing a new business venture to achieve financial success

Entrepreneur- someone who takes the initiative to create a new business venture.

Question 5

What’s is Market mapping used for?(1mark)

Answer 5

• identify risk (reduce risk )(1mark)