BM REDEMPTION SAC Exam Questions

Question 3

What is an entrepreneur?

Answer 3

A person who starts and manages a business, taking on financial risks.

Question 4

What was the personal motivation of Elon Musk in founding Tesla?

Answer 4

To promote renewable energy.

Question 5

What does R&D stand for?

Answer 5

Research and Development.

Question 6

What is the primary focus of R&D?

Answer 6

Discovering new knowledge (e.g., vaccines).

Question 7

What is technological development?

Answer 7

Applying technology (e.g., smartphone features).

Question 8

How does goal setting help Jane?

Answer 8

It helps Jane track progress and drive business growth.

Question 9

What analysis can be used in the decision-making process for business ideas?

Answer 9

SWOT analysis.

Question 10

What shapes business concepts?

Answer 10

Opportunities.

Question 11

What does a feasibility study include?

Answer 11

Market, financial, legal, and success analysis.

Question 12

What is one contribution of businesses to society?

Answer 12

Create jobs and generate tax revenue.

Question 13

What are three ways to foster innovation?

Answer 13

• Provide funding
• Encourage risk-taking
• Support startups