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ENT 1 Objective 2.01 Quiz

Chad Collins 7 questions

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Questions in this quiz (7)

  1. 1The entrepreneurial discovery process requires knowledge and the recognition of which situation?
    1. AEconomic crisis
    2. BPreventable accident
    3. CMarket need
    4. DCreative observation
  2. 2Entrepreneurial discovery is an important process in a free-enterprise economic system because an entrepreneur or small-business owner will most likely accomplish which goal?
    1. ASatisfy an unmet demand
    2. BForm a technological monopoly
    3. CImprove economic sanctions
    4. DChange legal requirements
  3. 3After a Korean auto manufacturer built a plant in Ames, Iowa, Kwan noticed a substantial growth of Korean residents in the area, many of whom were relocated to Ames to work for the plant. Kwan decided to import Korean goods and sell them in a small Korean specialty store near town. This is an example of a product opportunity resulting from which situation?
    1. AAdvancements in technology
    2. BChanges in travel habits
    3. CDifferences in priority
    4. DShifts in popularity ethnicity
  4. 4Which statement is true about entrepreneurial discovery?
    1. AIt ensures that start-up businesses have continuous funding.
    2. BIt is an ongoing process that facilitates the success rate of a business.
    3. CIt provides entrepreneurs with professional development training.
    4. DIt is a way to determine the long-term profit that a start-up company can generate.
  5. 5For a prospective entrepreneur, what is necessary to determine the existence of goods and services?
    1. ADemographic changes
    2. BProduct standards
    3. CEntrepreneurial discovery
    4. DRaw materials
  6. 6Identifying new product opportunities usually requires a person to possess which characteristic?
    1. ADecisiveness
    2. BEmotional
    3. CAwareness
    4. DIndifference
  7. 7Which is an example of a demographic trend that has encouraged entrepreneurial discovery?
    1. AInterest rate fluctuations
    2. BIncreased cultural diversity
    3. CIndustry deregulation
    4. DTechnological advancements

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ENT 1 Objective 2.01 Quiz
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