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1.1 The role of business enterprise and entrepreneurship GapFill

Target Level
4-5
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1 of 3

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Businesses can be categorised according to the sector they operate in. A mining business operates in the  tertiaryprimarysecondarypublic sector, whilst a manufacturing business is in the secondary sector, and a hairdresser is in the  tertiarysecondarypublicprivate sector. Some businesses, such as Dyson, are in more than one sector. In this case, as Dyson both manufactures its products and sells them to customers, it is in the secondary and tertiary sectors. 

An entrepreneur is someone who starts a new business. A key characteristic of such a person is that they are  popularwell educatedcautiousa risk-taker, since the success of a new business cannot be guaranteed. Reasons for becoming an entrepreneur vary, but it is unlikely to be due to  wanting to be their own bossmoneyambitionpreferring to be an employee. Entrepreneurs are important to the economy because they can create  employment opportunitiesadvertisingbusinessreputation in the area they set up in. 

Businesses and their owners face constant change. For example, adjustments to the national minimum wage is an example of a change in  technologyrequirementslegislationrules. Businesses cannot ignore this. They should also be mindful of the local community and not create  advertisingspacepollutionjobs as this is not acceptable, especially if their business activity involves manufacturing  administrationproductsstaffservices which may create noise.

This is your 1st attempt! You get 3 marks for each one you get right. Good luck!

Pass Mark
72%