154-Entrepreneur-Basics

154-Entrepreneur-Basics - Name Date Taken Class Total...

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Name: Class: Date Taken: Total Possible Marks: 25 Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS Write a short, accurate definition for each of the following key terms. (2 marks for each good quality definition) 2 1. Define: entrepreneur 2 2. Define: enterprise 2 3. Define: business startup 4 4. Define: risk and reward 2 5. Define: opportunity cost www.tutor2u.net - 1 -
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- 2 - QUICK LISTS In this section, provide an outline or list points which answer the question 4 6. List up to four reasons why someone might want to start his/her own business (one mark for each different, valid item listed) A. B. C. D. E. F. G. H. I. J. 3 7. Outline three potential disadvantages for someone leaving paid employment to start a business for the first time (one mark for each valid issue) A. B. C. D. E. F. G. H. www.tutor2u.net - 2 -
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Short Answers In this section, write a short answer (one or two sentences) for each question. Two marks for each good answer. 2 8. Why is survival a common initial aim of a startup business? 2 9. Why is it important for an economy like the UK to encourage enterprise and entrepreneurship? 2 10. How might the government encourage more people to start their own business?
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154-Entrepreneur-Basics - Name Date Taken Class Total...

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