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GIG1003 BASIC ENTREPRENEURSHIP ENCULTURATION

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There are four main types of innovation. A blind

stick with GPS function, audio system, surveillance camera, emergency

distress button, and darkness-detection automatic lighting is categorized under the _______________ innovation.

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During the COVID-19 movement-control-order (MCO) period, Hakim saw that many that sold face masks had managed to make some good money.  So, he did some observation on the mask suppliers in the market and finally picked  a supplier from China whose product has reasonable quality and price. He bought in bundle. Hakim managed to make RM3000 net profit from his first sales. So he continued to buy more face masks and keep making profit.

Is Hakim considered as a businessman or an entrepreneur?

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Who face stronger competitions in the market? 

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Which of the following entrepreneurship definitions

come under the Economic Theory?

I. Entrepreneur

is

the middleman who buys at a lower price and sells higher.

II. An entrepreneur is a person who pays a certain

price for a product to resell it at an uncertain price.

III. An entrepreneur is a person who shifts resources

from an area of low productivity to area of high productivity.

IV. 

Entrepreneurs are ones who tend to have a strong

internal locus of control and

strongly believe in their own ability to control the consequence of their

efforts

.

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It is

unfortunate that, in certain culture, single mothers or single parents are

perceived negatively by the society. Despite the fact that most of them have to

take up two or more jobs to make enough earning for the children under their

care, they always end up not earning enough. One of the solutions they take is

to pull other single parents together and start a business. This helps improve

their financial status as well as social status in the eyes of the society.

Which of the following theoretical perspectives

explains the phenomenon above?

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