The role of business enterprise and the purpose of business
activity:
● to produce goods or services
● to meet customer needs
● to add value: convenience, branding, quality, design,
unique selling points.
The role of entrepreneurship:
● an entrepreneur: organises resources, makes business
decisions, takes risks.
Discover
Delve
Demonstrate Question
This question is an explain question. You MUST use the BLT format. An example is below for a different explain question. The structure of your answer should match the example.
Explain an advantage of having limited liability. (3 marks).
One advantage is that you only risk losing the money you invest in the business.
This is because you and your business have separate legal identities
This leads to being more willing to take calculated risks with the business
Therefore having greater returns when those risks are successful
Have a go at your own
Explain one method a business could use to add value to its product. (3)
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Mark Scheme
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