Entrepreneurship Unit 2 Test

Businesses are often started when

A business that is already implementing an opportunity is a(n)

All of the following would be pros (positives) of buying a franchise EXCEPT

There is no difference between critical thinking & creative thinking.

In the article about regular people making a million, which was NOT one of the Entrepreneurs?

Which would you NOT ask yourself when determining if an idea is a business opportunity?

Going to government sources to help with finding business opportunities is not a good idea.

Which was NOT one of the suggestions made in the article about 5 ways to improve creativity?

An important source of opportunity is thinking about ones skills.

When one is an inventor, one should

One can use a unique talent to help as a source to find a business opportunity

A disadvantage of starting a new business is

When purchasing a franchise one signs an agreement that says he will obey company policies

Which of the following is NOT part of ongoing opportunity evaluation?

Buying an Independent Business can be a good idea for all the following EXCEPT

One important way to evaluate the opportunity is to look at the costs compared to the benefits.

All of the following are some external sources of inspiration for business ideas EXCEPT

There is no difference in the success rate of a franchise & independent business.

SWOT stands for

Starting with ideation is important because

Which of the following is not considered an internal source of opportunity?

One can find an Independent Business to purchase through a business broker who sells businesses

The definitions of a business opportunity would be

The period of time you have to act on a business opportunity before it disappears is called

Every business idea is a good idea and should be pursued.