ALL UNITS Flashcards
1
Q
Why start a business
A
- be your own boss
- keep all the profits
- you have a good idea
2
Q
Risks of starting a business
A
- may take time to produce a profit
- bankruptcy
- product may not be successful
3
Q
What’s an entrepreneur
A
An entrepreneur is an individual who develops a business idea and takes on the associated risks and responsibilities
4
Q
Qualities of entrepreneur
A
- competitive
- confident
- creative
- calculated risk taker
5
Q
Factors of production
A
- Capital - money, buildings, machinery
* Enterprise - development of ideas and drive for implementation
