NEW
Font size
S
M
L
XL
WorksheetsSGS Business 1.1 Enterprise and Entrepreneurship
Total questions: 23
Worksheet time: 12mins
Name
Class
Date
1.
What is an entrepreneur?
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market.
2.
What is meant by enterprise?
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market.
3.
What must a company do to ensure any new idea is successful?
a)
Check it satisfies a customer need = market research
b)
Carry out a successful launch of the product/service
4.
Define the term 'risk'
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market
c)
This is the possibility that the business will have a lower than expected profit or a loss
d)
Check it satisfies a customer need = market research
5.
Define what is meant by the term 'reward'.
a)
This is the possibility that the business will have a lower than expected profit or a loss
b)
This is the benefit of having a business which may be keeping the profit, working for yourself or being able to take holidays when you want
6.
The reward for enterprise is?
a)
Profit
b)
Hard work
c)
Risk
d)
Self-discipline
7.
Which of the following is not a risk of running your own business?
a)
Recession /economic / political problems and instability
b)
Poor reputation which can lead to loss of sales, loss of revenue and loss of profitability
c)
Commercial risks, failure of suppliers to supply and customers to pay
d)
Better work/life balance
8.
What is meant by a financial risk?
a)
Businesses rely on equipment 24/7. If this breaks down this leads to lower production and repair costs.
b)
Setting up a business can mean you lose your own or the banks money
c)
It is critical that suppliers supply equipment to businesses. Customers need to pay for goods/services.
d)
Blockbusters failed to address the threat of Netflix as they had no digital content available online.
9.
The weather and other natural disasters are a risk to a business - true or false?
a)
True
b)
False
10.
A ______ _______ is a risk of business as it can lead to less customers, which means less income and profit.
a)
Poor reputation
b)
Good reputation
c)
Commercial risk
d)
Change in house prices
11.
A reward for setting up your own business is.....
a)
You work for someone else and get a salary and holiday entitlement.
b)
Be your own boss, make your own decision and change the business as you want.
12.
Spending more time at home or carrying out hobbies, gives you a ......
a)
Better work/life balance
b)
Social enterprise
13.
Entrepreneurs get a ............. from building up their own business which can increase happiness and personal fulfillment.
a)
Lot of profit
b)
Great sense of satisfaction
14.
Doctor: Goods or Service?
a)
Goods
b)
Service
15.
House: Goods or Service?
a)
Goods
b)
Service
16.
Which is an example of a good?
a)
nurse
b)
mechanic
c)
basketball
d)
cook
17.
Does this person provide a good or a service?
a)
good
b)
service
18.
An example of a NEED is
a)
Laptop
b)
Car
c)
Phone
d)
Water
19.
An example of a WANT is
a)
Water
b)
Clothing
c)
TV
d)
Shelter
20.
Which of the following is an example of the role of an entrepreneur?
a)
Producing goods or services
b)
Meeting customer needs
c)
Organising resources
d)
Offering customer convenience
21.
Which of the following is NOT an example of adding value
a)
Quality
b)
Branding
c)
Selling an item for less
d)
Unique selling point
22.
What are the characteristics of an entrepreneur?
a)
Creative, risk taker, determined, confident, adaptable
b)
Not creative, risk averse, unreliable, joker
c)
Happy, loving, joker, hard working
d)
Predictable, sad, demotivated, risk averse
23.
A reward for running your own business is....
a)
Suppliers might not deliver the goods to when you need them.
b)
Machinery might break down.
c)
You could lose money.
d)
You can't get fired.
Reset
