Entrepreneurial motives Flashcards
unit 1.2.2
1
Q
What are the 2 types of motives ?
A
financial or non-financial
2
Q
What is the financial motive ?
A
profit
3
Q
What are the non-financial motives ?
A
ethical stance
social entrepreneurship
independence and homeworking
4
Q
What is a social entrepreneur ?
A
innovative solutions to society’s most pressing social problems e.g. Marc Koska - the needle guy
5
Q
What is capital ?
A
man-made ‘tech’ used to produce goods e.g. roads
6
Q
What is enterprise ?
A
initiative used in organising the factors
7
Q
What is land ?
A
resources used e.g. farms
8
Q
What is labour ?
A
human effort
9
Q
Are the factors of production finite or infinite ?
A
finite
10
Q
What is meant by factors of production ?
A
in puts that are used in the production of goods or services in the attempt to make an economic profit
