Font size
WorksheetsBusiness Studies Entrepreneurship
Total questions: 27
Worksheet time: 25mins
French economist named ... coined the term "Entrepreneurship" in the early 18th century.
Richard Cantillon
Roman Polanski
Andre the Giant
Al Pacino
Select the person from this list who is NOT a well-known successful South African entrepreneur.
Tokyo Sexwale
Madam C. J. Walker
Mark Shuttleworth
Richard Maponya
Cyril Ramaposa
True or False? An entrepreneur is somebody who combines the factors of production into a product or service that can be sold.
True
False
Which of the following is NOT a factor of production?
Land
Natural Resources
Labour
Trade Unions
Select the options which are competencies and qualities that an entrepreneur should possess.
Risk taker
Credibility
Information gatherer
Risk aversion
Planner
An entrepreneur gets rewarded for a job well done with a salary and sometimes a bonus.
True
False
From the list below, select all the activities performed by an entrepreneur.
Idea generation
Market research
Recruitment
Project implementation
Procurement
A techno-preneur is someone who uses innovative business ideas to solve community problems.
True
False
Which of the following is a pull factor to entrepreneurship?
Independence
Unemployment
Disagreement with current employer
No formal training (can't find a job)
What does EAP stand for?
Economically Active Population
Economically Affluent Population
Endangered but Active Population
Enormously Affluent Population
The population growth rate in South Africa is higher than the economic growth rate. This means that...
There are more people born than jobs created.
The country is getting poorer as a nation in real terms.
There is no economic activity taking place in South Africa.
There are fewer people without jobs.
Entrepreneurs often introduce a product/service to the market to make customers aware of a new need that they may not even know about yet.
True
False
Which of the following characteristics differentiate an entrepreneurial venture from the average business that just tries to survive?
Innovation
Growth potential
Sound objectives
Hard work
"Emerging entrepreneurs" is a term that is used to describe entrepreneurs who have previously been disadvantaged.
True
False
Starting a new business is more costly than buying an existing one.
True
False
Starting up a new business is more risky than buying an already established business or franchise that has a proven track record.
True
False
Some entrepreneurs actively seek to buy a failing business as it would be cheaper and provide a challenge to turn the business around.
True
False
Which of the following aspects should the entrepreneur consider when buying an already established business?
Reasons for the sale of the business
Contracts the business has already entered into
The form of business ownership
Rental agreements
The industry / market the business operates in
"Viability" means that the idea/opportunity is workable and can be practically implemented.
True
False
Which of the following factors should one consider when identifying and evaluating a business opportunity?
proximity to the target market
sufficient parking
good security
nearness to complimentary businesses
Threats are factors in the market which present gaps in the market.
True
False
Weaknesses are those factors which hinder the business from taking advantage of opportunities or achieving a competitive edge.
True
False
A business plan helps the entrepreneur to ensure that all risks are identified, calculated and proactively managed.
True
False
Which of the following factors could give a business a competitive advantage?
Price
Customer convenience
Experience of the customer
Product differentiation
Time
Which of the following is NOT a growth stage of a business?
Incubation
Start-up
Maturity
Delivery
The "start-up" stage is often called the "pre-birth" stage of the business.
True
False
Which of the following are problems that a business could face during the "breakthrough" stage?
Cash flow problems
Production complications and time problems
Delivery/distribution problems
Labour and skills problems
