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#business #entrepreneur
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
When we buy things we can't afford to impress others it is called:
Obsolescence
conspicuous consumption
peer pressure
impulse buying
2
Most new products available on the market are a result of...
innovation
invention
problem solving
seeing what is missing
3
An example of something that is obsolete
Rotary phones
Desks
Cell phones
Flat screen TV's
4
Marketers convince consumers their wants are needs. What are actual needs?
goods that provide pleasure
maintain rep with peeps
keep up with trends
provide for survival
5
The largest factor influencing buying is
income & price
peer pressure
current trends
promotions
6
Boxing day sales brings together which factors that influence buying?
promotion
price
all of the above
customs & habits
7
Buying for the purpose of impressing others or keeping up with the "Jones" is called?
comparison shopping
conspicuous consumption
trends
peer pressure
8
Where others see problems this person sees opportunities.
entrepreneur
capitalist
buskeer
scammer
9
What is it called when there is an entrepreneurial opportunity do to an irritant in the market?
diamond in the rough
pearl in an oyster
paint point
bug point
10
Which of the following is an entrepreneurial skill?
Practical skills
Interpersonal skills
Critical thinking skills
All of the answers
11
Yogurt came in a cup, in a tube, then in a crush-able container; what impact of innovation is involved?
change in marketing strategy
change in packaging
change in how product used
change in design
12
Risks are part of a new business as is the goal of earning a profit. The business is called a
franchise
mom and pop store
venture
corporation
13
What is demand in the business sense?
consumer wants
consumer wants + needs
consumer wants + needs backed by ability to pay
consumer needs
14
A person who is a creative problem solver, brings resources together but is not self employed.
entrepreneur
adventurer
intrapreneur
employee
15
Which character in von Oech's creative problem solving model is curious and seeks out new ideas.
Artist
Warrior
Judge
Explorer
16
What is a marketplace?
where buyers + sellers come together
all apply
where price is determined
farmer's market
17
A fad
Something people adopt & want to be part of but starts and stops quickly
is a stable investment opportunity for business
Something that lasts a long time
18
A way of protecting a new innovation of a product is a
patent
partnership
license
agreement
19
a want
something that you can't live without
something that is essential
water
something that is not required for survival
20
Lay's flavour competition was made possible by what impact of innovation?
changes in design
changes in manufacturing
changes in marketing
changes in purpose
21
What is one of the best ways to identify an entrepreneurial opportunity?
all of the above
be observant
ask what if questions
when a new products hits the market
22
How can you stimulate creativity?
ask what if questions
all work
change routines
visualize
23
Changing how a product is distributed or how it is used is an example of
Both are correct
a new innovation
a new invention
24
Factors that influence consumers needs and wants include
all
culture
age
income
25
All of the below are good ways of using your smartphone to make good shopping decisions except?
comparison shop
ask for peers to vote on purchase
check out price of competitive products
research possible substitutes
26
These are much easier to develop than characteristics.
skills
optimism
vision
confidence
27
What type of skill(s) are businesses saying potential employees are lacking?
soft skills
attitude
hard skills
perserverance
28
Entrepreneurship is
the activity of setting up a business, taking on financial risks
a person who organizes and operates a business
29
A pay increase for an employee is what type of motivation?
extrinsic
drive
effective
intrinsic
30
People who are willing to start a business from scratch tend to having the following traits.
low esteem
long range goals
fear of failure
no can do attitude