Duplicate of Unit 2 Entrepreneurship

Question 1

Which of the following is an example of a demographic trend:

Accepted Answer

The aging of the population

Question 2

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

Accepted Answer

product mix

Question 3

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

Accepted Answer

sales forecast

Question 4

Variable expenses increase in direct proportion to the increases rate of

Accepted Answer

production

Question 5

The cost of operating a business are often called _________ expenses

Accepted Answer

overhead

Question 6

Cost of sales for a new manufacturing venture typically include

Accepted Answer

raw materials, equipment, & product inventory

Question 7

Which of the following is a true statement about a business's environment

Accepted Answer

It is always changing

Question 8

Which of the following processes helps aspiring entrepreneurs generate venture ideas:

Accepted Answer

Creative thinking

Question 9

Which of the following is a characteristic of a well-conducted feasibility study

Accepted Answer

complete

Question 10

When using mind mapping to generate product ideas you begin by writing down main problem or

Accepted Answer

market opportunity

Question 11

The entrepreneurial discovery process requires knowledge and the recognition of a(n):

Accepted Answer

Market Need

Question 12

Which is an example of a demographic trend that has encouraged entrepreneurial discovery:

Accepted Answer

cultural diversity

Question 13

Which of the following is a global trend that encourages an entrepreneur to go international

Accepted Answer

lower tariffs

Question 14

Jane tapped into a new market by acknowledging:

Accepted Answer

Unmet Demand

Question 15

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

Accepted Answer

solve problems

Question 16

Which of the following is an economic factor that a business should consider:

Accepted Answer

Consumer spending habits

Question 17

Coming up with as many ideas as possible within a group is considered:

Accepted Answer

brainstorming

Questions 17