Chapter 1 Lesson 1

Question 1

What is entrepreneurship

Answer 1

• motivating spirit that causes someone to establish goals
• Business owner (“boss”)

Question 2

what is wage employment

Answer 2

• person works for someone else
• works 8 hrs a day
• given a set of job tasks
• paid regularly

Question 3

benefits of wage employment

Answer 3

• stability
• no personal investment
• don’t suffer personal losses
• benefits

Question 4

receive a secure regular income

Answer 4

stability

Question 5

government benefits example

Answer 5

SSS, PhilHealth, Pag-IBIG, retirement

Question 6

advantages of entrepreneur

Answer 6

• freedom & independence
• Your own boss
• Use ur skills & talents
• self- fulfillment and personal satisfaction
• Financial independence

Question 7

disadvantages of entrepreneurship

Answer 7

• Stress
• Pressure
• income is uncertain

Question 8

benefits of entrepreneurship

Answer 8

• businesses bring employment
• boosts public morale