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Short answer questions.
1. Why are localised programmes effective in entrepreneurship development?
2. How do entrepreneurships contribute to wealth creation?
3. Name five qualities essential to a successful entrepreneur.
4. Give two differences between a public and a private limited company.
5. What is the difference between wholesale and retail.
Answers
Answer:
ans -1 The whole point of entrepreneurship development is to increase the number of entrepreneurs. By doing this, the pace at which new businesses or ventures are made gets better.
ans 2 - New and improved products, services, or technology from entrepreneurs enable new markets to be developed and new wealth to be created. Additionally, increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.
ans -3 Here are the top five qualities of a successful entrepreneur:
Resolute motivation and passion. The first and foremost quality of a successful entrepreneur is passion. ...
Self-discipline. This is one of the most essential characteristics of a successful entrepreneur. ...
Risk-taking ability. ...
Creative thinking. ...
Persistence.
ans -4 The main difference between a public and a private company is that the shares of a public company are typically traded on a stock exchange (i.e. the company is listed), while a private company's shares are not.
ans -5 The primary difference between wholesale and retail is that the former is a business-to-business model and the latter a business-to-consumer model. In a wholesale model, you don't sell products directly to consumers. ... In a retailing model, you obtain products from a distributor and sell products directly to consumers.
Explanation:
Q3
1 Opportunity recognition
2 Initiative
3 Flexibility
4 Creativity and Innovation
5 Collaboration and communication.