Exam (elaborations)
Assignments
- Course
- Bed Intermediate Phase
- Institution
- University Of South Africa (Unisa)
Assignments and exams
[Show more]
Seller
Follow
Content preview
Amanda-Rose Laas14443643
OTE2601 Exam
, Question 1
1.1) The link between entrepreneurship and the economy are as follow:
Entrepreneurs create new businesses
Entrepreneurs add to national income
Entrepreneurs also create social change
Community development.
1.2) Entrepreneurs are important to market economies since:
Entrepreneurs create job opportunities for people. In places all over this world,
small businesses, especially in the informal sector, create more jobs than large
companies.
Entrepreneurs initiate the production process since they take responsibility for
producing goods and services. The entrepreneur compounds labor, capital,
technology and raw materials during the production process. The production
process consists a lot of work such as trading activities for example selling
groceries at a supermarket or rendering services for example looking after kids.
Without entrepreneurs, natural resources remain underground and undeveloped.
Entrepreneurs are essential since they are very much needed to build and
maintain the economy of a country. Our country may have loads of natural
resources like diamonds and gold but how are we going to sell them without the
help of entrepreneurs? Entrepreneurs are seen as catalysts to create a more
comfortable way of living. According to the department of curriculum and
instructional studies this is an outstanding feature of the free market system as
compared with socialism." Entrepreneurs usually employ other people, which
improves their standard of living. In buying products from other businesses,
entrepreneurs benefit such businesses".
1.3) How a culture of entrepreneurship can be established in South Africa?
Many matriculants as well as other individuals want to start looking for jobs and as they
continue to search, they end up facing challenges that might force them to start their
own means of money. This way they can be their own employers rather than relying on
others for employment.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller laasamandarose130. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R153,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60434 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now