Entrepreneurship

Test Questions – Module 1

Name: ......................................... Total Marks: 60

Time: 45 minutes

Question 1
State whether each of the following are true or false:

a. An entrepreneur should be an introvert T F

b. Computer literacy is a good skill for an entrepreneur to have T F
c. Ubuntu is about the development of the individual without regard to others T F
d. A television is an example of a need T F
e. The internet is a good source of ideas for starting a business T F

[5]

Question 2
Give one word for each of the following:

a. Paying attention to small details ________________

b. The needs for food, clothing and shelter ________________
c. The amount of money that is charged by banks for borrowing ________________
d. The rise in prices over time ________________
e. Being in charge of one’s own and other people’s lives ________________
[5]

Question 3
Describe the following terms:

a. Social needs
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b. Gaps in the market
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c. Patent
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d. Piracy
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[8]

Mahikeng City College FET

Entrepreneurship

Question 4
Ayanda wants to open a car repair business. He feels that he is well qualified to do so, as he has been
fixing cars since we was six (he is now 30). However, he is worried that he doesn’t have the accounting
skills necessary. The area in which he is operating has no car repairers nearby and he feels that there is a
good gap in the market. He also knows some people who he will be able to employ as he knows they are
good mechanics. He eventually plans to hand over operating this business to one of his employees so
that he can open new branches in other underserviced areas. However, because it is a potentially
lucrative business, he is worried that he might face competition in the near future.

Draw up a SWOT analysis for Ayanda’s business.

[10]

Mahikeng City College FET

Entrepreneurship

Question 5
Discuss the different categories (stakeholders) that make up the business environment and indicate how
they affect businesses.

[32]

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Mahikeng City College FET