1A Cards

Question 1

Personal Independence

Answer 1

Personal Independence is being in control of your own decisions and actions.

Question 2

Financial Independence

Answer 2

Financial Independence is the ability to fund a desired lifestyle without relying on income from another individual.

Question 3

Social Enterprise

Answer 3

Social Enterprise is a business that aims to make a profit and improve the community or environment.

Question 4

Market Need

Answer 4

Market Need is producing a product that satisfies unmet needs in referred to as filling a “gap in the market”.

Question 5

Profit

Answer 5

Profit is the remaining amount of revenue left over after expenses have been deducted.

Question 6

summary

Answer 6

The five key points of starting a business are:

1) financial Independence
2) Personal Independence
3) to make a profit
4) to fulfil a market need
5) to fulfil a social need