Entrepreneurship Unit 2B

Question 1

A business might take product & alter it to fulfill a specific need which different benefactor?

Accepted Answer

Target market

Question 2

What's the first factor that a business considers when deciding if it should sell a product?

Accepted Answer

Market demand

Question 3

If you allocate 2% of annual sales to web and newspaper advertising, you are developing what?

Accepted Answer

A promotional budget

Question 4

The responsibility of a facilitator of a brainstorming session is to compile the ideas and:

Accepted Answer

Keep the group on task

Question 5

Which process helps aspiring entrepreneurs generate venture ideas?

Accepted Answer

Creative Thinking

Question 6

Which is a way that business can determine if a product will meet the needs of a target market?

Accepted Answer

Ask the customers

Question 7

When generating new ideas for new business, entrepreneurs often look for ways to perform what?

Accepted Answer

Solve problems

Question 8

A business that identifies products to sell that fill needs is making which decision?

Accepted Answer

Product mix

Question 9

Which is an operational issue that entrepreneurs must consider when planing their businesses?

Accepted Answer

Production process

Question 10

What is often a positive result of accepting responsibility for a poor decision?

Accepted Answer

The gain of respect of others

Question 11

The brainstorming process is used to accomplish which primary goal?

Accepted Answer

Come up with as many ideas as possible.

Question 12

Which personality trait is often associated with creative people?

Accepted Answer

Acting independently

Question 13

People who are naturally creative often possess which attribute?

Accepted Answer

Mentally flexible

Question 14

Which is usually a characteristic of a creative person?

Accepted Answer

Likes to seek out new challenges

Question 15

Which is a tool that entrepreneur develops to project sales for a new business venture?

Accepted Answer

Sales forcast

Question 16

An entrepreneur considers the location & financial needs of a business during which process?

Accepted Answer

Planning

Questions 16