Flashcards on Essential Entrepreneurial Characteristics and Management Skills
Essential Entrepreneurial Characteristics and Management Skills
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Entrepreneurship and Unemployment
7 cards
Card 1
Question: What are 'push factors' that lead people to become entrepreneurs?
Answer: Push factors include unemployment, job insecurity, lack of formal training (can't find a job), and disagreement with a current employer.
Card 2
Question: What is one of the push factors explicitly listed that contributes to entrepreneurship?
Answer: Unemployment.
Card 3
Question: Why is entrepreneurship especially important in South Africa given the Economically Active Population (EAP)?
Answer: Because the EAP ranges from age 15 to 65, meaning people can start work at 15 and retire by 65, so entrepreneurship provides opportunities across this
Card 4
Question: What are the approximate unemployment rates in South Africa around 2020 mentioned in the content?
Answer: Estimates put unemployment roughly between 34% and 43%.
Card 5
Question: What are 'pull factors' that attract people to entrepreneurship?
Answer: Pull factors include independence, recognition, self-actualisation, and personal employment and wealth.
Card 6
Question: How does the relationship between population growth and economic growth in South Africa drive people toward entrepreneurship?
Answer: Population growth is higher than economic growth, so more people are born than jobs are created, forcing many to create their own jobs as entrepreneur
Card 7
Question: Summarise why many people in South Africa 'have to create their own jobs.'
Answer: Because high unemployment and faster population growth than economic growth mean there are not enough jobs, so people start businesses to survive and