Entrepreneurship and Economic Growth

What do entrepreneurs do?

• Purchase goods from the businesses.

• Take risks and start a new business.

• They contribute to the unemployment rate.

• They inform the government on how the spending and consuming of the economy should happen.

What is GDP?

• Government Department Procedure.

• Gross Domestic Purchases.

• Goals Derived from Production.

• Gross Domestic Product.

Which one is incorrect between the successful entrepreneurs?

• Worked hard.

• Overcame disillusionment and failure.

• Never struggled.

• Remained enthusiastic about their enterprise.

Without entrepreneurs we would have...?

• More businesses.

• Rise in economic growth rate.

• No trade unions.

• Government and no business.

Focus of viability study .

• Focus on the general examination of the potential of the idea.

• Focus is on ability to pursue the idea.

• Focus on matching of skillset with requirements.

• Focus is on market and profit potential of the idea.

TRUE OR FALSE

SMMEs are Small, Medium and Macro Entreprise.

• TRUE

• FALSE

TRUE OR FALSE

The entrepreneurial process is a process through which a new venture is created.

• TRUE

• FALSE

A creative ________, he was continually dreaming up new projects.

• trader

• merchant

• entreprenuer

• seller

Which of the following is most likely to be a benefit of business growth?

• Increased costs

• Increased sales

• Increased competition

• Increased chance of failure

A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.

• Companies, Business
• Companies, Research
• Customer, Business
• Business, Customer