Kenyan Entrepreneurship
A person who recognizes a business opportunity and organizes, manages and assumes the risk of starting and operating it
What is an entrepreneur?
For example: Wood for a pencil
Name one natural resource for any company
Quantities of a particular good or service consumers are willing and able to buy
What is demand
General increase in the cost of goods and services
What is inflation
Products that can be physically weighed and measured
What are goods
A short term loan which specifically is meant for individual traders for day to day running of their business
What is Boresha Biashara loan
Equity, loans, and grants
What are the three main ways to fund a small business?
Consumers buy more of a good when its price decreases and less when its price increases
What is the law of demand
Total value of goods and services produced in an economy
What is GDP
the money left over after a business has paid the costs of producing its goods and services
What is profit
KCB, CBA, DTB
What are examples of tier 1 Kenyan banks?
Natural, entrepreneurial, capital, human
What are the factors of production
A table that relates the quantity demanded of a particular good to its price
What is demand schedule
When inflation is up, unemployment is down and vice versa
How is unemployment related to inflation
Necessities, Luxuries, Opportunities to make money
What do businesses provide
Uwezo fund, Youth enterprise development fund
What are examples of small business grants available to Kenyans
An economy in which economic decisions are made by the people.
What is a market economy
Supply is equal to demand
What is equilibrium
Recession is the next cycle
What comes after depression
A moderate command economy where there is some form of private enterprise
What is socialism
A country wide development program developed to transform Kenya into an industrialized middle income country.
What is a Kenya Vision 2030
What is a contingency plan
The type of demand that needs are
What types of products have inelastic demand.
School Kids and Retired People
Name two examples of people that are not counted in the Labor Force
When the government spends more than it collects in taxes
What is budget deficit