Question 1: Define the term 'business activity'.

Answer: Business activity involves the production and selling of goods and services to satisfy customer needs and make a profit.

Question 2: Identify three different types of business activity based on their purpose.

Answer: Production, selling, and providing services.

Question 3: Explain why a business needs a business plan before starting operations.

Answer: A business plan helps to set clear objectives, plan resources, attract investors, and reduce risks by anticipating challenges.

Question 4: Describe two key elements that should be included in a business plan.

Answer: Market analysis and financial forecasts.

Question 5: Imagine you want to start a small bakery. List three important factors you should consider in your business plan.

Answer: Location, startup costs, and target customers.

Question 6: Sketch a simple layout for a business plan cover page. Include spaces for the business name, date, and a title.

Answer: A clean, centered space labeled with 'Business Name', 'Date', and 'Business Plan' with room for a logo or image if desired.

Question 7: Describe what a business owner might include in a SWOT analysis.

Answer: Strengths, Weaknesses, Opportunities, and Threats related to their business.

Question 8: Draw a basic flowchart showing the steps in creating a business plan from idea to launch.

Answer: A flowchart with steps: 1. Generate idea, 2. Conduct market research, 3. Write the plan, 4. Secure funding, 5. Start operations.

Question 9: Why is understanding your target market important when planning a new business?

Answer: It helps in designing products or services that meet customer needs and in deciding how to promote the business effectively.

Question 10: List two ways a business can gather information about its potential customers.

Answer: Surveys and market research reports.

Question 11: Sketch a simple advertisement poster for a new ice cream shop aimed at children. Include the shop name and a catchy slogan.

Answer: A poster with bright colors, the shop name prominently displayed, and a slogan such as 'Cool Flavors for Hot Days!' with space for drawings of ice creams.