Flashcards for:
Overview of Entrepreneurship

The three key impacts are job creation, opportunity creation for other businesses, and generating government revenue through taxes.

Entrepreneurship education offers an alternative pathway for students who may not go to college, allowing them to start their own businesses and become financially independent.

Arby, previously a cruise ship worker, started a chili garlic oil business with a 10,000 pesos capital during the COVID-19 pandemic. His first 10 boxes sold out quickly, and in two months, he sold over 100 boxes, earning wages that rivaled his previous salary. He also employed other unemployed OFWs.

Arby used 10,000 pesos as his initial capital to start his chili garlic oil business.

Entrepreneurship education prepares senior high students for the real world, provides practical knowledge and training, offers an alternative to college, and equips them to be independent and capable of earning.

A businessman works with existing businesses and focuses solely on profit without creating new innovations, whereas an entrepreneur creates and scales new businesses.

The need for supplies and services by new businesses creates opportunities for other businesses to become suppliers and provide ancillary services.

New businesses generate tax revenue for the government, contributing to public funds.

Entrepreneurship contributes to job creation by establishing new businesses that hire individuals, thereby generating employment opportunities.

The main goal of entrepreneurship is to create and scale a business to generate profit.

It is important because it prepares them for post-school life, provides practical skills and knowledge for starting a business, and encourages independence and economic self-sufficiency.

An enumeration task where students answer items on yellow paper is mentioned as a classroom activity.

Arby's earnings from his new chili garlic oil business rivaled his previous salary of 40,000 pesos/month on the cruise ship.

The term 'entrepreneur' is derived from the French verb 'entre prendre,' which means 'to undertake.'

Arby's business not only provided him with an income but also created employment opportunities for other unemployed OFWs.