Business & Eco Week 4

​ (a)   is a person who sets up a​ (b)   taking into account the financial​ (c)   with the hope of making a ​ (d)  

• Entrepreneur
• business
• risk
• profit

The ability and readiness to develop, organise and run a business, along with any of its uncertainties in order to make profit. The most prominent example is the starting of new businesses.

Boost Juice is a franchise

• True

• False

Boost Juice business is structured as a partnership

• False

• True

The process of creating new products, ideas and methods

Reorder the following from earliest innovation to latest innovation

• Cochlear Implant (Bionic Ear)

• Polymer Bank Notes

• Electronic Pacemaker

• The Black Box Flight Recorder

What are the risks that an entrepreneur face when creating an innovation?

• Financial Risk

• Technological Risk

• Market Risk

• Ownership Risk

• Competitive Risk

Which of the following would most likely be characteristics of a successful entrepreneur?

• Creative

• Disgruntled

• Mellow

• Risk Taker

• Complacent

Which of the options below are most likely to be a competitor with Bunnings Warehouse?

• Charcoal Chicken

• KMART

• Coles

• Mitre 10

Why do you think 'iCapsulate' is considered an innovation?