Entrepreneurship & Small-Scale Production is one of 8 topics in the Grade 10 Consumer Studies CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. What is an entrepreneur?
A person who identifies an opportunity in the market and takes on the risk of starting and running a business to take advantage of it
A person who only ever works for a large, established company
A person who never takes any financial risk
A government employee responsible for regulating businesses
Answer: A person who identifies an opportunity in the market and takes on the risk of starting and running a business to take advantage of it — An entrepreneur identifies a market opportunity and takes on the risk of starting and running a business to pursue it, hoping to make a profit.
Easy
2. Which of the following is listed as a quality of successful entrepreneurs?
Persistence and resilience despite setbacks
Avoiding all forms of risk entirely
Refusing to communicate with customers or suppliers
Poor time-management skills
Answer: Persistence and resilience despite setbacks — Persistence and resilience, continuing to work toward goals despite setbacks, is one of the qualities commonly shared by successful entrepreneurs.
Medium
3. Name one reason given in this lesson why some entrepreneurs fail, relating to not understanding whether there is real demand for a product.
Answer: insufficient market research — Insufficient market research, meaning not properly understanding whether there is real demand for the product or service, is a key reason given for entrepreneurial failure.
