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Entrepreneurship - JSS1 Business studies Past Questions and Answers - page 1

1
What is entrepreneurship?
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A

The process of starting and managing a business venture.

B

The act of working for someone else.

C
The process of investing in the stock market.
2
What does enterprise refer to?
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A

A business or project undertaken with initiative and risk.

B

A large corporation.

C

A government organization.

3
What facilities are available for self-employment?
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A

Business incubators and accelerators.

B

Public transportation services.

C

Healthcare facilities.

4
Who are successful entrepreneurs in your locality?
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A

Individuals who have identified opportunities and created thriving businesses.

B

Individuals who work for multinational corporations.Individuals who are unemployed.

C

Individuals who are unemployed.

5
What qualities do successful entrepreneurs in Nigeria possess?
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A

Resilience, innovation, and adaptability.

B

Compliance with regulations.

C

Aversion to risk-taking.

6

What impact do internationally successful entrepreneurs have?

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A
They have no impact outside their own countries.
B

They only focus on their own personal wealth.

C

They influence global business practices and drive economic progress.

7
Why is entrepreneurship important for individuals?
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A

It restricts personal freedom.

B
It offers opportunities for personal growth and financial independence.
C

It encourages dependency on others.

8
How does entrepreneurship impact families?
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A

It leads to family disintegration.

B
It increases family debt.
C

It provides stability, security, and upward mobility opportunities.

9
What role does entrepreneurship play in society?
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A

It drives innovation, fosters competition, and spurs economic growth.

B

It has no impact on society

C

It leads to social stagnation

10
What is the significance of successful entrepreneurs in society?
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A

They only focus on personal wealth accumulation

B

They have no impact on societal development

C

They create jobs, stimulate investment, and reduce inequalities