Enterprise Studies - Business TopicTest

A person who sets up a business or businesses, taking on financial risks in the hope of profit

• Enterpreneur

• Sole trader

• Enterpreneurship

• Enterpise

Why do people become enterpreneurs?

Match the following

Traits of an Enterprenuer

• Ability to Make Decisions

• The ability to produce clever, workable solutions. 

• Creativity

• The talents to analyse complex situations and draw conclusions that will make the business succeed. 

• Business-like Attitude

• The desire to be your own boss

• Independence

• Possessing the knowledge of your chosen business and having the savvy to conduct business. 

• Communication Skills

• The ability to express yourself and to understand others so that ideas can be shared. 

In entrepreneurship, idea generation is one of the main factors that lead to its success.

• True

• False

What is a business plan?

Define Target Market

• Are customers that a business sells products and services to.

• A specific group of people with shared characteristics that a business markets its products or services to.

• Are people in general

• People who like to shop.

Is the contest or rivalry among the companies selling similar products and/or targeting the same target audience to get more sales,

• Target Market

• Business Competition

• Enterpreneur

Marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.

Match the following marketing mix with its correct description.

• Price

• An item should be sold at the right price for consumer expectations, neither too low nor too high.

• Product

• The public needs to be informed about the product and its features to understand how it fills their needs or desires. 

• Promotion

• The location where the product can be purchased is important for optimizing sales.

• Place

• The item or service being sold must satisfy a consumer's need or desire.

Match the following

Traits of an Enterprenuer

• Independence

• Possessing the knowledge of your chosen business and having the savvy to conduct business. 

• Business-like Attitude

• The desire to be your own boss

• Creativity

• The ability to express yourself and to understand others so that ideas can be shared. 

• Communication Skills

• The talents to analyse complex situations and draw conclusions that will make the business succeed. 

• Ability to Make Decisions

• The ability to produce clever, workable solutions. 

A ​​ ................ is a tool that helps to accomplishes functions.

For example, the wheels of an aircraft are features that support functions such as landing and taking off.

• Function

• Feature

• Warranty

• Brand Name

• Packaging