Q1 MT HELE Grade 4

What is entrepreneurship?

• The act of buying goods

• The act of creating and managing a business

• The study of plants

• The process of farming

Which of the following is a characteristic of an entrepreneur?

• Fear of failure

• Risk-taking

• Avoiding challenges

• Lack of creativity

What is a business plan?

• A list of personal expenses

• A document outlining business goals and strategies

• A marketing advertisement

• A recipe for a dish

Which of the following is a common source of capital for starting a business?

• Charity

• Loans

• Social media likes

• Gossip

What is a market?

• A place to plant crops

• A system for buying and selling goods and services

• A type of plant

• A financial institution

Why is marketing important for a business?

• It helps with cooking food

• It informs customers about products

• It prevents loss

• It organizes finances

What is a target market?

• The location of a business

• The group of people a business aims to sell to

• A type of advertisement

• A financial statement

Which of the following is an example of a service business?

• A bakery

• A grocery store

• A cleaning service

• A farm

What is one benefit of being an entrepreneur?

• Guaranteed income

• Freedom to make decisions

• Limited work hours

• No need for planning

What is the purpose of a budget in a business?

• To waste money

• To control expenses and maximize profits

• To decide what to eat

• To plan a vacation