Circle one answer per question. Original ASH practice — not a CXC past paper.
Which is a characteristic of an entrepreneur?
A. Avoiding every risk
B. Combining resources and taking calculated risks
C. Guaranteeing profits
D. Never innovating
A sole trader's business debts can affect…
A. Only government funds
B. No assets
C. The owner's personal assets
D. Only employees
Which is a service rather than a good?
A. A desk
B. A bicycle
C. A bag of rice
D. A haircut
The opportunity cost of using savings to start a shop is…
A. The next best use of those savings forgone
B. All possible uses added together
C. Always zero
D. The shop's sales
Business & enterprise — teacher answer key
B. Combining resources and taking calculated risks — Entrepreneurs organise resources, innovate and accept calculated business risks. Profit is not guaranteed.
C. The owner's personal assets — A sole trader has unlimited liability: the owner is personally responsible for business debts.
D. A haircut — A service is an activity performed for a customer. A haircut is not a physical product.
A. The next best use of those savings forgone — Opportunity cost is the value of the next best alternative you give up, not every alternative combined.
ASH Academy tracks
Learn to think like a business advisor
People skills first, simple numbers second. Pick your subject.
Secondary · Ages 15–17
Why businesses insure
Spot the risks a small shop faces and decide which ones to transfer, reduce or accept.
The customer conversation
Practise asking needs-based questions before recommending anything.
Ethics in selling
Role-play honest advice when the best answer is a smaller sale.
