Enterprise + Entrepreneur Flashcards
1
Q
factor of production
A
(economist’s approach) combination of land, capital, labour
2
Q
qualities of enterprise
A
take advantage of business opportunities, innovative and willing to take risks
3
Q
role of enterprise
A
come up with new ideas, add value to exist ideas, fill gaps in market
4
Q
branding
A
adds value to customer
5
Q
factors of an idea
A
quality, USP, convenience, branding, design
6
Q
design
A
superior to others in market
7
Q
entrepreneur
A
sets up a business, takes risks, identifies opportunities
8
Q
entrepreneur role
A
organise resources, make decisions, take risks
9
Q
qualities of an entrepreneur
A
hard-working, innovative, organised, willing to take risks
