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WorksheetsGr 9 EOT Quiz Review
Total questions: 21
Worksheet time: 12mins
People who start their own businesses are called_____
enterprise
entrepreneurs
employees
Enterprise can mean a ___________
person who has a business
business / the act of setting up a business
new idea
A new idea or way of doing something.
Innovation
Enterprise
entrepreneur
What are the benefits of starting a business? (Choose 2 answers)
losing time
losing money
creating new things
being the boss
A chance that something can go wrong.
benefit
advantage
risk
What are the risks of setting up a business? (Choose 2 answers)
lose money
create new ideas
setting your own goals
lose security
Some common reasons why
entrepreneurs fail are: (Choose 2 answers)
good skills
lack of finance
clear objectives
poor choice of location
Other businesses who have the same target markets. For example, Nike and Adidas.
innovation
competition
target market
Some important skills that entrepreneurs need to have
are: (Choose 2 answers)
interpersonal skills
risk management
having a lot of money
having a large family
Some characteristics that successful entrepreneurs
have are: (Choose 2 answers)
creativity
proud
confidence
angry
Choose the benefits of planning: (Choose 2 answers)
you can lose confidence
it helps to think carefully
it helps to manage the risks
you can lose finance
How can a business benefit from innovation? (Choose 2 answers)
sell more products
sell less products
charge higher prices
charge lower prices
What is an action plan?
a long-term plan which sets out how objectives will be met
a short-term plan which sets out how objectives will be met
An action plan can help an entrepreneur______
to get more money
to keep track of who is responsible for different tasks
to charge higher prices
Put the elements of the action plan in the correct order.
(c) Identify the actions that need to be taken (b) Implement the plan (a) Achieve the goal or finish the project.
C , B , A
A, B, C
B, A, C
Business plan should include: General Information, Human Resources, Finance, Executive Summary and _________
Sales
Pricing
Marketing
A business plan guarantees success.
Yes, because it takes into account everything
No, it can increase the chances of success, but there are some factors which can affect the success of a business
Nike opens a sports shop (business that brings it closer to the end user)
horizontal integration
forward vertical integration
conglomerate
Nestle (food) buys a make-up business (business in a completely different industry).
conglomeration
forward vertical integration
horizontal integration
Disney buys Pixar (business in the same industry).
conglomerate
horizontal integration
forward vertical integration
Emirates buys a catering company (business further back on the supply chain).
conglomerate
horizontal integration
lateral integration
