Tag: KS3

Which ONE of the following is a characteristic of an entrepreneur?

Select ONE answer only:

1. A very wealthy family background
2. A willingness to undertake a new venture
3. Someone who is not willing to take risks
4. An education to at least up to a university degree
5. Someone who was a member of the Scouting Association

Explain ONE method a business could use to add value to its products.

Which ONE of the following is a characteristic of an entrepreneur?

Select ONE answer only:

1. A very wealthy family background
2. A preparedness to take risks
3. Someone who is not willing to take risks
4. An education to at least up to a university degree
5. Someone who was a member of the Scouting Association

Explain ONE reason why customer service is an important need that businesses should meet.

Which ONE of the following BEST defines the role of an entrepreneur?

Select ONE answer only:

1. Someone who enjoys working in the service sector
2. Someone who wants to avoid paying income tax
3. Someone who owns and runs their own business and takes risks
4. Someone who wants to work in the public sector
5. Someone who runs a business while the owner is away on holiday

Discuss an impact that entrepreneurs have on the economy.

Which ONE of the following is MOST likely to be a customer for a marketing agency that produces brochures for holiday tour operators?

Select ONE answer only:

1. The local government sector
2. The public at large
3. The supplier who provides the business with paper
4. The stakeholders in the business
5. A business selling safari adventure holidays in South Africa

Explain ONE way that a business can meet the needs of its customers.

Which ONE of the following is the purpose of a business?

Select ONE answer only:

1. To produce goods and services
2. To minimise profit
3. To meet the needs of suppliers
4. To only work for the government
5. To provide employment to lazy workers.

Discuss a method that a business owner may use to reduce the level of risk in the running of their business.