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

Answer: Enterprise is the act of starting or running a business, often involving taking a risk to offer goods or services to customers.

Question 2: List three skills an entrepreneur needs to successfully start a business.

Answer: Creativity, risk-taking, and good communication skills.

Question 3: Explain why taking risks is important for entrepreneurs.

Answer: Taking risks allows entrepreneurs to pursue new ideas and opportunities that could lead to business success, even though there is a chance of failure.

Question 4: Describe a small business you might find in your local area. Include what it sells or offers.

Answer: A small local business could be a bakery that sells fresh bread, cakes, and pastries to the community.

Question 5: Imagine you want to start a business selling handmade jewelry. Write down three steps you would take to start your business.

Answer: Research the market for jewelry, create designs and prototypes, and find suppliers for materials.

Question 6: Draw a simple diagram showing the basic steps involved in starting a new business from an idea to selling products. Label each step clearly.

Answer: A diagram with five boxes labeled: 1. Generate Idea, 2. Conduct Market Research, 3. Plan the Business, 4. Set Up the Business, 5. Sell Products or Services.

Question 7: Explain two ways in which entrepreneurs can promote their new business.

Answer: Entrepreneurs can promote their business through advertising on social media and offering special discounts to attract customers.

Question 8: Identify and explain two risks faced by entrepreneurs when starting a new business.

Answer: Financial risk, where money might be lost if the business fails; and market risk, where there may be insufficient customers to buy the product or service.

Question 9: Sketch a logo or symbol that could be used to represent a new business selling eco-friendly products. Leave space for your drawing.

Answer: A correct sketch would include a simple, memorable symbol related to nature, such as a leaf or the Earth, that clearly indicates eco-friendliness.

Question 10: Why is it important for entrepreneurs to understand their target customers?

Answer: Understanding target customers helps entrepreneurs create products and marketing strategies that meet customer needs and increase sales.

Question 11: Write a short paragraph explaining what makes an entrepreneur successful.

Answer: A successful entrepreneur is someone who is innovative, willing to take risks, works hard, and is able to adapt to changing market conditions to grow their business.