Question 1: Define the term 'enterprise' in your own words.

Answer: Enterprise is the activity of starting and running a business to make a profit, often involving taking risks and being innovative.

Question 2: List two qualities or skills that an entrepreneur needs to be successful.

Answer: Creativity and risk-taking.

Question 3: Give an example of a business idea that someone might have in their local community.

Answer: A person might think of opening a small café, a bike repair shop, or a tutoring service.

Question 4: Explain why taking risks is an important part of enterprise.

Answer: Taking risks is important because it allows entrepreneurs to try new ideas, expand their business, and potentially earn more profit. However, it also involves the possibility of failure.

Question 5: Identify two ways an entrepreneur might get the money needed to start a business.

Answer: They might use their savings or borrow money from a bank or family.

Question 6: Describe a scenario where someone shows enterprise skills in their daily life.

Answer: A student who notices a problem at school, such as a lack of recycling bins, and then suggests and organizes a plan to place bins around the school demonstrates enterprise skills like problem-solving and initiative.

Question 7: Draw a simple sketch to represent a new business idea. Label the key parts of your sketch, such as the product or service offered, and the potential customers.

Answer: A correct sketch would include a basic depiction of the product or service (e.g., a food stall, a computer for a tech business), with clear labels indicating what it is and who the target customers are (e.g., children, local residents).

Question 8: Why is it important for entrepreneurs to plan their business activities carefully?

Answer: Careful planning helps entrepreneurs set clear goals, manage resources effectively, and reduce the chances of failure.

Question 9: Name one benefit and one challenge of starting your own business.

Answer: Benefit: You can be your own boss. Challenge: There is a risk of losing money if the business fails.

Question 10: Imagine you want to start a small business selling handmade jewelry. List two things you would need to do before opening your shop.

Answer: Design the jewelry and find suppliers for materials. Additionally, decide on a location and think about how to promote the business.