Enterprise + Entrepreneur

Question 1

factor of production

Answer 1

(economist’s approach) combination of land, capital, labour

Question 2

qualities of enterprise

Answer 2

take advantage of business opportunities, innovative and willing to take risks

Question 3

role of enterprise

Answer 3

come up with new ideas, add value to exist ideas, fill gaps in market

Question 4

branding

Answer 4

adds value to customer

Question 5

factors of an idea

Answer 5

quality, USP, convenience, branding, design

Question 6

design

Answer 6

superior to others in market

Question 7

entrepreneur

Answer 7

sets up a business, takes risks, identifies opportunities

Question 8

entrepreneur role

Answer 8

organise resources, make decisions, take risks

Question 9

qualities of an entrepreneur

Answer 9

hard-working, innovative, organised, willing to take risks