Role of business enterprise

• What is the main topic of the lesson covered in the video?

  The role of business enterprise
• What is the outcome of the lesson?

  Understand the role of business enterprise
• What are the three main points covered in the lesson?

  1. Purpose of business activity
  2. Role of entrepreneurship
  3. Factors of production
• What is the first purpose of business activity?

  To produce goods and services
• What are the four factors of production?

  1. Land
  2. Labor
  3. Capital
  4. Enterprise
• What does 'land' refer to in the factors of production?

  Physical space to produce goods
• What does 'labor' refer to in the factors of production?

  People working in the business
• What is 'enterprise' in the context of business?

  Drive or motivation to start a business
• What is 'capital' in the context of business?

  Money to start the business
• Why is meeting customer needs important for a business?

  It leads to business success and satisfaction
• What are some basic expectations customers have from businesses?

  • Fast and efficient service
  • High-quality products at competitive prices
  • Friendly and helpful staff
  • Quick responses to inquiries
  • Sufficient stock availability
  • Clean and navigable environments
• What does 'adding value' mean in business?

  Increasing the value of a product through processes
• How can a business add value to potatoes?

  By processing them into crisps
• What is an entrepreneur?

  A person who sets up a business
• What risks do entrepreneurs face?

  Financial loss if the business fails
• What must an entrepreneur do to manage risks?

  Develop an action plan to mitigate risks
• What are the key responsibilities of an entrepreneur?

  • Organizing resources
  • Taking financial risks
  • Making business decisions
  • Developing business ideas
• What should students do after watching the video?

  Answer the questions in the comments
• What is the purpose of the questions at the end of the video?

  To reinforce learning and understanding