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HomeCIE IGCSE Business StudiesEnterprise and the role of business in the economy
CIE · IGCSE · Business Studies

Enterprise and the role of business in the economy
Practice Questions

20 CIE IGCSE Business Studies questions on Enterprise and the role of business in the economy, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Enterprise and the role of business in the economy.

Try 2 sample questions on Enterprise and the role of business in the economy

Question 1 · 1 mark · Difficulty 1/3

Which of the following best describes an entrepreneur?

  1. A person who provides capital to an existing business without involvement
  2. A person who organises resources to start a business, taking on financial risk
  3. A person who works for a business and receives a fixed wage
  4. A person who manages a business owned by someone else
Show answer & explanation
✓ Answer: BA person who organises resources to start a business, taking on financial risk
An entrepreneur organises the factors of production to set up a new business, accepting the financial risk in pursuit of profit. Option A describes a manager, not necessarily an entrepreneur. Option C describes an investor or shareholder. Option D describes an employee.
Question 2 · 1 mark · Difficulty 1/3

A market exists where buyers and sellers come together. Which of the following is the most accurate description of a 'gap in the market'?

  1. A period when no businesses are operating in an economy
  2. The physical space between competing shops in a town centre
  3. A decline in sales experienced by an established business
  4. An unmet consumer need or demand that no existing business currently satisfies
Show answer & explanation
✓ Answer: DAn unmet consumer need or demand that no existing business currently satisfies
A gap in the market is an unmet consumer need or area of demand that existing businesses are not currently fulfilling, representing an opportunity for an entrepreneur. The other options describe unrelated concepts: absence of business activity, physical geography, or declining sales.
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CIE IGCSE Business Studies: Enterprise and the role of business in the economy FAQ

How many CIE IGCSE Business Studies questions on Enterprise and the role of business in the economy are there on Kramizo?
Kramizo currently has 20 exam-board-aligned practice questions on Enterprise and the role of business in the economy for CIE IGCSE Business Studies, with new questions added every week. Each question gives you instant feedback and a full examiner-style mark scheme that tells you exactly what would earn marks on a real CIE paper. The questions span the full difficulty range — from straightforward recall (level 1) right up to multi-step reasoning and evaluation (level 3) — so the bank works for first-pass revision and final exam-week stress testing alike.
Is Kramizo free for CIE IGCSE students preparing for Business Studies?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Enterprise and the role of business in the economy practice with other Business Studies topics or even switch to a totally different CIE subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Enterprise and the role of business in the economy questions aligned to the official CIE IGCSE Business Studies syllabus?
Every question is written against the published CIE IGCSE Business Studies specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real CIE paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from CIE.
How is Enterprise and the role of business in the economy typically tested on CIE IGCSE Business Studies papers?
Enterprise and the role of business in the economy appears across multiple question types on real CIE IGCSE Business Studies papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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