
POB– Structured Response Exam Total Time:
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13 questions
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1.
OPEN ENDED QUESTION
30 sec • Ungraded
Define the following terms: (i) Entrepreneurship (ii) Profit (iii) Sole trader
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2.
OPEN ENDED QUESTION
30 sec • Ungraded
Identify TWO characteristics of a private limited company.
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3.
OPEN ENDED QUESTION
30 sec • Ungraded
List TWO advantages and TWO disadvantages of operating as a sole trader.
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4.
OPEN ENDED QUESTION
30 sec • Ungraded
Explain the difference between a partnership and a public limited company.
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5.
OPEN ENDED QUESTION
30 sec • Ungraded
Jamal wants to start a small bakery. Outline the FOUR main factors of production he will need and provide one example of each.
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6.
OPEN ENDED QUESTION
30 sec • Ungraded
Suggest THREE reasons why an entrepreneur may want to start their own business.
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7.
OPEN ENDED QUESTION
30 sec • Ungraded
Describe how a business plan can help Jamal in his bakery business.
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