Entrepreneurship - JSS1 Business studies Past Questions and Answers - page 1
What is entrepreneurship?
The process of starting and managing a business venture.
The act of working for someone else.
The process of investing in the stock market.
What does enterprise refer to?
A business or project undertaken with initiative and risk.
A large corporation.
A government organization.
What facilities are available for self-employment?
Business incubators and accelerators.
Public transportation services.
Healthcare facilities.
Who are successful entrepreneurs in your locality?
Individuals who have identified opportunities and created thriving businesses.
Individuals who work for multinational corporations.Individuals who are unemployed.
Individuals who are unemployed.
What qualities do successful entrepreneurs in Nigeria possess?
Resilience, innovation, and adaptability.
Compliance with regulations.
Aversion to risk-taking.
What impact do internationally successful entrepreneurs have?
They have no impact outside their own countries.
They only focus on their own personal wealth.
They influence global business practices and drive economic progress.
Why is entrepreneurship important for individuals?
It restricts personal freedom.
It offers opportunities for personal growth and financial independence.
It encourages dependency on others.
How does entrepreneurship impact families?
It leads to family disintegration.
It increases family debt.
It provides stability, security, and upward mobility opportunities.
What role does entrepreneurship play in society?
It drives innovation, fosters competition, and spurs economic growth.
It has no impact on society
It leads to social stagnation
What is the significance of successful entrepreneurs in society?
They only focus on personal wealth accumulation
They have no impact on societal development
They create jobs, stimulate investment, and reduce inequalities