Meaning, Importance and Qualities of Entrepreneurship for SS 1
Entrepreneurship involves finding opportunities, organising resources and accepting calculated risks to create goods, services and possible employment.
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Royal Alikor is an educator with six years of classroom teaching and three years of elementary school leadership experience and is still teaching. He develops and reviews practical, curriculum-aligned learning materials for Nigerian schools and teachers.
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Entrepreneurship involves finding opportunities, organising resources and accepting calculated risks to create goods, services and possible employment.
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Commercial opportunities emerge from unmet needs, weak distribution or changing tastes; a viable idea must have customers and workable costs.
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Web development creates websites and web applications. HTML structures content, CSS controls presentation, and JavaScript adds interactive behaviour.
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A website combines webpages, menus, links and visual elements; effective design makes information readable, navigation clear and pages usable.
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A partnership joins two or more owners who contribute resources and share business results; a deed can clarify management and profit allocation.
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A sole proprietorship belongs to one owner, who makes decisions and receives profits but normally bears unlimited liability for business debts.
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Capital supplies the funds and resources needed to run a business; entrepreneurs may obtain it from personal savings, loans or investors.
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Commodity exchanges organise trading in standardised goods such as agricultural produce and metals, supporting price discovery and market access.
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E-commerce enables buying and selling online, widening access for sellers and shoppers while creating risks involving payment, privacy and delivery.
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Imports bring goods into a country and exports send goods abroad; international trade uses documents such as invoices and bills of lading.
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Wholesalers purchase goods in bulk from producers and resell them to retailers, helping with storage, distribution and the flow of market information.
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Land, labour, capital and entrepreneurship are factors of production: natural resources, human effort, produced assets and enterprise combine to make goods.
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