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

1

What is entrepreneurship?

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.

correct option: a
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2

What does enterprise refer to?

A

A business or project undertaken with initiative and risk.

B

A large corporation.

C

A government organization.

correct option: a
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3

What facilities are available for self-employment?

A

Business incubators and accelerators.

B

Public transportation services.

C

Healthcare facilities.

correct option: a
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4

Who are successful entrepreneurs in your locality?

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.

correct option: a
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5

What qualities do successful entrepreneurs in Nigeria possess?

A

Resilience, innovation, and adaptability.

B

Compliance with regulations.

C

Aversion to risk-taking.

correct option: a
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6

What impact do internationally successful entrepreneurs have?

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.

correct option: c
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7

Why is entrepreneurship important for individuals?

A

It restricts personal freedom.

B

It offers opportunities for personal growth and financial independence.

C

It encourages dependency on others.

correct option: b
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8

How does entrepreneurship impact families?

A

It leads to family disintegration.

B

It increases family debt.

C

It provides stability, security, and upward mobility opportunities.

correct option: c
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9

What role does entrepreneurship play in society?

A

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

B

It has no impact on society

C

It leads to social stagnation

correct option: a
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10

What is the significance of successful entrepreneurs in society?

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

correct option: c
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