WorksheetsEdexcel business 1.1 enterprise and entrepreneurship
Total questions: 8
Worksheet time: 3mins
Name
Class
Date
1.
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.
2.
The reward for enterprise is?
a)
Profit
b)
Hard work
c)
Risk
d)
Self-discipline
3.
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
4.
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
5.
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
6.
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
7.
Which of the following is not a reason why entrepreneurs create new business ideas?
a)
Obsolete products
b)
Create more jobs
c)
Consumer needs and wants change
d)
Advanced technology
8.
Which of the following is a benefit of adapting a product or service?
a)
Creates a USP
b)
Creates something brand new
c)
Cheaper
100 %
