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Entrepreneurship Introduction (Grade 9)

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Entrepreneurship Introduction

1. 
An inventor and an entrepreneur do essentially the same thing.
  1. True
  2. False
2. 
An inventor creates new products, services or processes.
  1. True
  2. False
3. 
Entrepreneurship in its broadest form is defined as the pursuit of opportunity.
  1. True
  2. False
4. 
Entrepreneurs should only attempt to meet identified wants or needs.
  1. True
  2. False
5. 
List the four factors of production:





6. 
List two examples of entrepreneurial opportunities:





7. 
List two examples of Entrepreneurial Ideas:





8. 
Explain the relationship between entrepreneurs, inventors, innovation and ideas.





9. 
List three possible risks that might be faced by an entrepreneur.





10. 
List one possible financial reward for entrepreneurs:



11. 
List two possible non-financial rewards of entrepreneurship:



12. 
What is the difference between needs and wants?



13. 
Provide one example of a need.



14. 
Provide one example of a want.



15. 
Name two professions which require entrepreneurial skills.



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