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Entrepreneurship 101

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Questions and Answers

What is an entrepreneur?

Someone who starts a business with the intention of helping others

Someone who starts a business with the intention of avoiding risk

Someone who starts a business with the intention of gaining popularity

Someone who starts a business with the intention of making a profit (correct)

What is the role of an entrepreneur in the production process?

Coordinate the activities of employees

Decide what, how, by whom and for whom products and services should be produced (correct)

Manage the financial resources of the business

Perform specific activities that contribute to the production process

What is one of the main production factors that entrepreneurs mobilize?

Technology

Raw materials

Capital

Labour (correct)

What is the purpose of a feasibility study for an entrepreneur?

To assess the viability of a business idea Signup and view all the answers

Which of the following is NOT a key consideration when choosing a form of business?

Degree of control or management authority Signup and view all the answers

Which form of enterprise is characterized by limited liability?

Close corporation Signup and view all the answers

What is the most common form of enterprise found in South Africa?

Company Signup and view all the answers

Which of the following is NOT one of the eight most important components of a business plan?

Employee benefits Signup and view all the answers

What is the purpose of compliance with legal formalities and regulations when choosing a form of business?

To establish legal personality Signup and view all the answers

Entrepreneurship 101

Choose a study mode

Podcast

Questions and Answers

What is an entrepreneur?

What is the role of an entrepreneur in the production process?

What is one of the main production factors that entrepreneurs mobilize?

What is the purpose of a feasibility study for an entrepreneur?

Which of the following is NOT a key consideration when choosing a form of business?

Which form of enterprise is characterized by limited liability?

What is the most common form of enterprise found in South Africa?

Which of the following is NOT one of the eight most important components of a business plan?

What is the purpose of compliance with legal formalities and regulations when choosing a form of business?

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