WEEK 1 - Review of Term 2 Work - TASK

A business which is honest has a ………………… reputation.

• bad

• good

• indifferent

• mistaken

The three key components of entrepreneurship are ownership, organizing and ……….

• risk-taking    

• capital

• initiative

• profit

Entrepreneurship involves starting and organizing a business with a determination to ……………………

• fail

• employ

• succeed

• struggle

 Land, labour, capital and entrepreneurship are ____________ of production.  

• friends

• factors

• products

• effects

The natural resources used in production is  __________  

• Capital

• Labour 

• Land

• Entrepreneurship

A business organization established, owned and financed by one person is called -----

• Limited Liability Company  

• Partnership

• Nigeria Labour Congress   

• Sole proprietorship

The willingness and ability to identify business opportunity, establish and operate it successfully is

• distribution     

• wholesaling

• entrepreneurship

• purchasing

The following are the consequences of not being truthful, except

• Punishment 

• Damage reputation

• Trust

• Shame 

Human effort, physical or mental used in production is known as ______________ 

•  Land

• Labour

• Entrepreneurship 

• Capital

Anyone who does not depend on an employer for salaries or wages is _______

• over-reliant

• self-reliant    

• self-defeated      

• non-productive