Grade 9 AHSS - Homework Worksheet

Business and Entrepreneurship

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Chapter 1 What Is Entrepreneurship?

Q1: Directions You are going to open a pizza delivery business where no eat-in service will be provided.
Your clients will be able to call in an order for quickly made pizza that can be delivered or picked.
Identify the four factors of production required to operate such a business

1. Land/Natural Resources

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2. Labor

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3. Capital

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4. Entrepreneurship

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Q2: Directions All over the globe, entrepreneurs try to identify people’s needs and wants/Goods or
Services. Identify who need or want theses goods and services?

a. French-speaking tour guide b. heavy protective gloves c. wetsuit d. espresso machine e. athletic
shoes f. Spanish-English dictionary g. rope clips h. irrigation consultant i. buttons j. egg incubator

Who Needs or Wants It?

1. A mountain climbing guide in Nepal

2. A British student attending language school in Guatemala

3. A farming collective in Uganda

4. An ostrich breeder in Iran

5. A coffee barista in Colombia

6. A textile factory owner in Sri Lanka

7. A tourist visiting Versailles

8. A long-distance runner training in Kenya

9. A surfer in Hawaii

10. An ice delivery person in Japan

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Q3: Write down characteristics and examples of each market structure:

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Chapter 2 : Your Potential as an Entrepreneur Section 2.2

Q1: Directions Do you possess any of the distinctive traits that are commonly shared by entrepreneurs?

Listed below are the characteristics of an entrepreneur . Rank yourself for each of the traits. If the trait is
most like you (5). If least like you (1). If you fall in bwetween somewhere circle the number

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Q2: Directions The following cases illustrate how entrepreneurial characteristics come into play in day-
to-day activities. Read each case and answer the related questions.

Case 1 :Chaz has an idea for a service business. It has worked well in other markets, and Chaz sees no
reason why it should not work locally. The service involves renting DVDs about colleges and
universities to high school students. The colleges Chaz has contacted are all for it, and the students he
has talked to are excited about the idea as well. However, the three banks from which he has tried to
borrow money to set up his business are skeptical. They have all turned him down for a loan. What
entrepreneurial characteristic should kick in here if Chaz’s business is going to become a reality? Why
is that characteristic so important in this situation? Why is it important to entrepreneurs in general?

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Case 2: Several food service operations have gone in and out of business in Elliot’s town in the last few
years. Despite this, Elliot strongly believes he can be successful in that type of business. He is convinced
that a health-conscious menu, extra good service, and promotion targeting people who are concerned
about nutrition will be a winning combination. His family, friends, and even some people who have been
in the restaurant business are trying to talk Elliot out of his idea, but he is convinced it can work. What
entrepreneurial characteristic is in operation here? Why is it important to the success of entrepreneurs?
What do you think of his chances of success? Why

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Case 3: A few years ago, Kami started a rental management company. Recently, however, she decided
to expand her business by buying some apartment buildings of her own. Right now she is looking at
three properties. One is a fourplex. All units in this property have been rented for years, but have a very
low profit yield. The second, a five-unit building, has not had a good rental history. It could, however,
double in value if it and adjacent properties can be sold to a commercial-property developer. The
chance of this happening is about one in 50. The third property, which has six apartments, also has a
poor rental history. With some remodeling and a management change, though, it should produce a solid
return. Which property do you think Kami should buy? Why? What entrepreneurial characteristic would
be an important factor in her decision? Why is this characteristic important to the success of
entrepreneurs?

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