Role of business enterprise

Question 1

to add value

Answer 1

Added value – the difference between what a business pays its suppliers, and the price it is able to charge for its product or service

Question 2

Enterprise

Answer 2

is about taking risks, being creative and innovative and using your initiative

Question 3

entrepreneur

Answer 3

develops a business idea and then hires and organizes the factors of production to carry out the business activity