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Entrepreneurship 101
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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?

    <p>To assess the viability of a business idea</p> Signup and view all the answers

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

    <p>Degree of control or management authority</p> Signup and view all the answers

    Which form of enterprise is characterized by limited liability?

    <p>Close corporation</p> Signup and view all the answers

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

    <p>Company</p> Signup and view all the answers

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

    <p>Employee benefits</p> Signup and view all the answers

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

    <p>To establish legal personality</p> Signup and view all the answers

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