Practice Improvement In Living Standards (2.4.5) - Entrepreneurship

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9 questions

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2 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is one way entrepreneurs improve living standards?
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Think about how starting a new business affects employment.
Question 2.
Define 'innovation' in simple terms.
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Consider how new technology fits into this definition.
3Question 3.
What is a primary way entrepreneurs improve living standards?
- Creating jobs
- Increasing taxes
- Reducing competition
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Consider what happens when new firms open.
4Question 4.
True or False: Entrepreneurship has no effect on community development.
- True
- False
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Think about the investments entrepreneurs make.
Question 5.
Evaluate the long-term effects of entrepreneurship on a developing community.
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Consider social, economic, and infrastructural improvements.
Question 6.
Propose a business idea and explain how it could specifically improve living standards in a low-income area.
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Think about the services needed by the community.

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