the role of buisness enterprise and entreunprenurship Flashcards
1
Q
Reasons why people choose to start their own business?
A
to be your own boss
- pursue your own personal interets
- earn an income
- do something positive for society
2
Q
buisnesses provide needs and wants some examples of needs are:
A
- food
- water
- shelter
- clothing
- medicine
3
Q
buisnesses provide needs and wants some examples of wants are:
A
- a car
- iphone
- tv
- choclate bar
- fake tan
etc
4
Q
What does it mean when buisnesses provide needs and wants?
A
Businesses make a profit by providing things that people need and want.
5
Q
charcterisics of a successfull entrepreneur?
A
- creative
- risk taking
- confident
- able to learn from past failures
6
Q
risks of starting your own nuisness
A
- might have invested in your own savings
- given up job with steady income.
- stressfull
- long hrs and lack of hols
7
Q
Rewards of starting your own buisness?
A
- possibly higher wage
- sell if successfull
- being your own boss
- satisfacation of being successfull
8
Q
A
