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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.
