entep test

Question 1

Market feasibility

Answer 1

is an investigation into the possibility that an entrepreneurial idea has a chance of being successful

Question 2

What is belief (enterprise)

Answer 2

is the acceptance that something exists/true without proof

Question 3

Examples of beliefs

Answer 3

Entrepreneurs are inventors
Entrepreneurs are gamblers

Question 4

Barriers to creativity

Answer 4

Environmental barriers
Cultural barriers
Social barriers
Perceptual barries

Question 5

Ways that show unemployment can cause job creation

Answer 5

It is an opportunity for the government and firms to create jobs
Unemployed person can start a business and employ other people
Opportunity to attract foreign investors to come set up manufacturing companies to create jobs
The government can provide subsides for the unemployed to start their own business

Question 6

Aims of Team Namibia

Answer 6

To promote entrepreneurship by encouraging locals to support business
To gain a competitive advantage by making it possible to compete against international products

Question 7

Four methods of primary research

Answer 7

Observation
Interview
Surveys
Questionnaire

Question 8

Business ideas linked to Enterprise, agriculture and german subject

Answer 8

Enterprise - write plans for other people
Agricultural - train workers to take care of animals and crop production
German - translate for tourists

Question 9

Profit

Answer 9

income - expense = profit

Question 10

types of capital

Answer 10

Human capital
Physical capital

Question 11

Sustainable use

Answer 11

using natural resources without destroying land for the needs of future generations

Question 12

4 P’s of creativity

Answer 12

Person - the person is the entrepreneur
Process - the result of seeing the opportunity
Product - the result of the process
Press - refers to the environment

Question 13

Why use radio as a form of advertising

Answer 13

It is cheaper
It reaches a high audience in different languages

Question 14

Factors that determine the location of a business

Answer 14

How easily accessible it is
Competition
The availability of labour
the availability of Land

Question 15

Research

Answer 15

includes the gathering of data, information and facts for the advancement of knowledge

Question 16

Negotiation

Answer 16

the reaching of agreement through joint decision making involving bargaining between two parties

Question 17

The negotiation process involved

Answer 17

Preparation
Exploring other aspects
Negotiating your position
Reaching agreement

Question 18

Procedures in the tendering process

Answer 18

Register your interest
The bid is awarded

Question 19

Type of funding

Answer 19

Own capital

Question 20

Consumer rights

Answer 20

Consumers have the right to cancel appointments
Consumers have the right to high quality products

Question 21

Ways a business could become successful

Answer 21

Marketing
Gain experience
Goal driven

Question 22

Unethical behavior

Question 23

Economic importance of entrepreneurship

Answer 23

Creates jobs that employ people
Pays taxes
Creates demand for products

Question 24

Common barriers by women entrepreneurs

Answer 24

Narrower range of education
Stereotypes regarding women in business
Women are often not taken seriously

Question 25

Female dominated factors

Answer 25

Informal sector Household responsibilities low profit and low productivity

Question 26

Characteristics of successful entrepreneurs

Answer 26

Creative Information seeking Opportunity seeking Risk-takers

Question 27

Model to start an enterprise

Answer 27

Idea generation Research and market research Financing Legal requirements Running the enterprise

Question 28

Steps in the creativity process

Answer 28

Awareness Preparation Incubation Insight Verification

Question 29

SWOT

Answer 29

S - Strength W - Weakness O - Opportunity T - Threat

Question 30

Unemployment

Answer 30

the % of the labour force who don’t have a job / actively looking for one

Question 31

Cause of unemployment

Answer 31

Population growth Changes in technology Bad economic times

Question 32

Tendering

Answer 32

The process of making a proposal in response to an invitation

Question 33

Steps to follow when conducting research

Answer 33

Define the problem Determine the data needed Select research methods Collect the data Analyse the data Write the research report

Question 34

Advantages of Market Research

Answer 34

collected information belongs to the researcher specific information is provided

Question 35

Disadvantages of Market research

Answer 35

It is expensive It takes time

Question 36

Advantages of Secondary research

Answer 36

Obtain data easier It is cheaper

Question 37

Disadvantages of Secondary Research

Answer 37

Research often doesn’t meet the researchers needs Outdated data

Question 38

Importanace of research ethics

Answer 38

It is a professional requirement It is a requirement to obtain funding It respects the participants

Question 39

What determines the size of a business

Answer 39

Size of capital Number of employees Volume of sales Level of technology

Question 40

Export processing zone

Answer 40

are established to promote export of locally manufactured goods

Question 41

Marketing

Answer 41

the processes of identifying and satisfying the needs and wants of people