Entrepreneurship - JSS1 Business studies Past Questions and Answers - page 2
What opportunities do self-employed individuals have?
They have limited opportunities for growth.
They can only work part-time.
They have autonomy over their work.
What is the significance of successful entrepreneurs in society?
They only focus on personal wealth accumulation
They create jobs, stimulate investment, and reduce inequalities.
They have no impact on societal development
What resources do business incubators and accelerators provide?
Financial investments only
Mentorship, networking, and resources
No resources
What qualities do successful entrepreneurs possess?
Innovation, resilience, and adaptability.
Aversion to risk-taking
Reliance on others for decision-making
How do successful entrepreneurs contribute to economic development?
They only focus on personal profit
They rely on government support
They create jobs, stimulate investment, and generate wealth
Why is self-employment beneficial for individuals?
It leads to increased dependency on others
It restricts personal freedom
It offers autonomy and control over one's work
What are some characteristics of successful entrepreneurs?
Successful entrepreneurs typically possess qualities such as innovation, resilience, adaptability, and a strong work ethic. They are also risk-takers who are willing to embrace challenges and learn from failures.
How do business incubators and accelerators support self-employed individuals?
Business incubators and accelerators provide self-employed individuals with valuable resources such as mentorship, networking opportunities, access to funding, and guidance on business development and growth strategies.
What impact do successful entrepreneurs have on local economies?
Successful entrepreneurs play a vital role in driving local economic growth by creating jobs, stimulating investment, fostering innovation, and contributing to the overall development of the community through their businesses.
Why is self-employment considered beneficial for individuals?
Self-employment offers individuals autonomy and control over their work, allowing them to pursue their passions, create their own schedules, and potentially achieve higher levels of financial success compared to traditional employment.