What is an entrepreneur?

Give three purposes of business activity.

Explain why a firm might try to make a product more convenient for a customer.

What does USP stand for?

Give three reasons why new businesses come about and give an example of each.

What is a consumer, in business?

List three things an entrepreneur must do in order to run a successful business.

Explain three rewards an entrepreneur might get from setting up a business.

Describe three risks an entrepreneur faces when starting a new business.

List five areas where a business may compare itself to its competitors (businesses targeting a similar market with similar products)

Why is it important for a business to understand a customer's needs?

Name three ways a market can be segmented

Give two pieces of information which a business might find out from a market map.