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WorksheetsTheme 1 Topic 1.1 & 1.2
Total questions: 13
Worksheet time: 7mins
Imagine you're a budding entrepreneur, ready to dive into the world of business. But wait! You're worried that your new venture might not bring in enough dough to keep up with your current lifestyle. Can you identify what kind of risk this is?
Not being able to reach the break-even point
Feeling a bit shaky on the security front
Fearing the big 'F' - Business Failure
Worried about losing your independence
Imagine Sara, a fitness enthusiast, who decided to leap into the world of entrepreneurship as a personal trainer. Can you guess the primary motivation behind her business idea?
Is it to fill her pockets with more money?
Or, is it to follow her passion and interest?
Maybe, to be the captain of her own ship?
Or, to enjoy the flexibility of working hours?
Imagine a world where consumers are more concerned about the environment than ever before! This has sparked a wave of innovative start-ups, creating products from recycled materials. Can you guess why these eco-friendly business ideas are popping up?
Is it because certain services have become obsolete?
Or maybe some products have become obsolete?
Could it be due to changes in consumer demand?
Or is it because of fluctuations in the interest rate?
Imagine you're on a treasure hunt! Which of these options would best describe the 'reward' you're seeking?
The probability that something will go wrong
The chance of loss or damage
When a hoped for outcome does not happen
The benefits gained through business activity
Imagine you're an entrepreneur who has just invented a one-of-a-kind product to shake up the market! Can you tell us how this brilliant business idea was born?
An original idea
Adapting an existing product
Adapting an existing service
Adapting an existing idea
Imagine you're an entrepreneur ready to start a new business. What could be a financial motivation for you to take this exciting step?
To fill your pockets with lots of profit
To follow your passion or interest
To enjoy the freedom of making your own decisions
To strike a perfect balance between work and life
Imagine you're in a bustling marketplace! Can you tell us what it means when a product becomes 'obsolete'? Is it when consumers:
Can't get enough of a product and demand skyrockets?
Feel like they've hit the jackpot and want to buy everything in sight?
Have to tighten their belts and can't afford a certain product anymore?
Decide they're over a product and don't want it anymore?
Imagine you're a business tycoon! But, oh no! Your business is failing due to lack of planning and poor decision-making. What would you call this situation?
Oops! It's Poor management
Oh dear! It's Poor quality
Yikes! It's Poor understanding of the economy
Uh-oh! It's Poor sales levels
Imagine you're an entrepreneur who has just created a magical shaving oil for those with sensitive skin, making their shaving experience pain-free! This brilliant idea is an example of:
A lightning-fast development and delivery to the market
A superhero solution to a customer's problem
A budget-friendly alternative to an existing method
Aiming for the stars in a rapidly expanding market
Imagine you're a hotshot product manager! Your product or service is considered obsolete when its sales:
Start to skyrocket like a space shuttle!
Rise rapidly like a roller coaster!
Growth slows down like a lazy Sunday afternoon
Fall or come to an end like the final curtain at a Broadway show
Imagine you're in a magical world where you can touch and hold some things, while others are invisible. Can you tell which of the following statements is true in this world when it comes to goods and services?
Services are like fluffy clouds, you can touch and hold them, while goods are like air, usually invisible
Goods are like solid bricks, you can touch and hold them, while services are like magic spells, intangible
Services are like bright rainbows, visible, while goods are like the wind, usually invisible
Both goods and services are like ghostly apparitions, intangible
Imagine you're a daring entrepreneur! Which of these could be a thrilling risk you might face in your business adventure?
Stumbling upon a treasure chest of profits
Encountering a lack of security
Enjoying the freedom of independence
Reaching the peak of business success
Imagine you're a budding entrepreneur! Which two actions from the list below might lead your business to a disastrous end? Choose wisely!
Creating a meticulous business plan
Manufacturing products that don't resonate with your customers
Designing a product that's unique and different from your competitors
Providing top-notch customer service
