Observation

     
Comments

Many candidates attempted this question and gave satisfactory answers. However, few of the candidates that attempted the questions could not give appropriate definition of entrepreneur.

The responses expected from candidates are

(3a)     An Entrepreneur is a factor of production who organizes and coordinates the other factors into productive venture.
OR
An Entrepreneur is an individual who initiates business ideas, organizes, coordinates and controls the production process to maximize output at minimum cost.                   (2 marks)

(3b)Qualities of an entrepreneur:

• Self confidence;
• Optimism;
• Perseverance;
• Patriotism;
• Communication skills;
• Risk taking;
• Decision making;
• Persistency;
• Dynamism;
• Managerial ability;
• Self discipline;
• Creativity;
• Knowledgeability;
• Foresight;
• Professionalism;
• Initiative;
• Flexibility/Adaptability;
• Negotiation skills;
• Opportunistic.