Enterprise Flashcards
0
Q
Why do business fail?
A
- lack of finance
- shortages of knowledge and skills
- poor infrastructure
1
Q
Characteristics of a successfully entrepreneur
A
- determination
- motivated
- risk-taker
- expertise
2
Q
Opportunity cost
A
The cost of a decision measured by the benefits foregone of the next best alternative
3
Q
Why become an entrepreneur
A
- govt encouragement
- want for money
- independence
- provide employment
