IGCSE Business Studies 1.3 - Enterprise and Business Growth Quiz

Which of the following is a characteristic of a successful entrepreneur?

• Reluctance to take risks

• Strong communication skills

• Preference for routine work

• Inability to adapt to change

Entrepreneurs are often described as innovative. This means they:

• Avoid competition in the market

• Create new ideas or ways of doing things

• Focus solely on traditional business methods

• Work only in high-tech industries

Which quality helps entrepreneurs overcome challenges?

• Determination

• Risk Taking

• Independence

• Resistance to feedback

An entrepreneur who develops new ideas and ways of doing things shows which quality:

• Risk taking

• Hard Working

• Creativity

• Effective Communicator

Which of the following is NOT typically included in a business plan?

• Business objectives

• Marketing strategies

• Personal hobbies of the entrepreneur

• Financial forecasts

How does a business plan assist entrepreneurs?

• By eliminating the need for market research

• By providing a structured guide for running the business

• By ensuring immediate success

• By avoiding competition entirely

The financial section of a business plan typically includes:

• Product designs

• Cash flow forecast

• Organisation Structure

• Competitor Analysis

A key benefit of having a business plan is that it:

• Guarantees profits for the business

• Helps secure funding from banks or investors

• Ensures no challenges will arise

• Reduces the need for marketing

Why do governments support business start-ups?

• To reduce competition in the market

• To create jobs and encourage economic growth

• To control private sector businesses

• To increase tax rates for small businesses

Which of the following is a way governments support business start-ups?

• Increasing taxes on start-ups

• Providing grants or low-interest loans

• Eliminating all market regulations

• Offering guaranteed profits for new businesses