enterprise

Question 1

Factor of production

Answer 1

A factor of production which includes land, capital and labour.

Question 2

Quality

Answer 2

The durability, finish or nature of the product may be better than what is currently being offered.

Question 3

The role of enterprise

Answer 3

The main role of enterprise is to come up with new ideas and add value to existing ideas. They can fill a gap in the market and offer something that isn’t being offered or they can add value to existing ideas.

Question 4

Unique selling points (USP)

Answer 4

The USP is the feature of the product that is not currently being offered by other countries.

Question 5

Convenience

Answer 5

This focuses on making the product more convenient for the customer in any way possible.

Question 6

Branding

Answer 6

This comes up with a unique/ distinctive logo or image that adds value to the customer.

Question 7

Design

Answer 7

The product design may be superior to others offered on the market.