Storekeeeping WASSCE (SC), 2018

Question 2


  1. State four challenges facing entrepreneurs.
 List and explain four functions of an entrepreneur




  1. Majority of the candidates misinterpreted the first part of this question. The weakness of Candidates in this question was their inability to state challenges of entrepreneur but went on to state functions of entrepreneurs.
  2. Candidates performed very well in the later part of the question.

Q2a.    State four challenges facing entrepreneurs.

Challenges facing entrepreneurs

  1. The potential loss of resources invested in business as a result of poor economy
  2. High cost of production due to poor electricity supply and high cost of fuel consumption.
  3. Dishonest individual could be employed by the entrepreneur and will negatively affect the business.
  4. High interest rate on loan and advances affect the profitability of the business.
  5. Preference for consumption of imported goods to locally produced goods has negative impact on entrepreneurship.
  6. Stiff competition from established brands.