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Business
University -
12th
Turning business ideas into Business opportunities
10 questions
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- 1. Multiple Choice
A consumer need or want that can potentially be fulfilled by a new business is called:
Window opportunity
Business offer
Business opportunity
Source of opportunity
- 2. Multiple Choice
Someone who is licensed to sell businesses is called:
Business broker
Franchisor
Entrepreneur
- 3. Multiple Choice
Mention two internal sources of opportunity
Talents
Independent business
New discoveries
Skills
- 4. Multiple Choice
A product or service that people strongly desire is defined as:
Business opportunity
Want
Need
Entertainment
- 5. Multiple Choice
Keeping aLogbook and conducting a search are ways to create and improve:
An existing idea/product/process
An invention
A business opportunity
An independent business
- 6. Multiple Choice
Which is NOT a Franchise advantage
Low capital investment
Proven systems
Customer awareness
Benefits provided by the Franchisor
- 7. Multiple Choice
Something that people must have to survive, such as water, food, clothing, and shelter is defined as:
services
wants
needs
products
- 8. Multiple Choice
A potential disadvantage of starting a new business is:
Represents a big challenge
You can build it your way
The amount of risk and uncertainty involved
Working long hours
- 9. Multiple Choice
A model on which future reproductions of an invention are based is called:
A product innovation
A business idea
A Prototype
An invention
- 10. Multiple Choice
Four common ways of turning ideas into opportunities are:
Business agreements, Franchises, New discoveries
Creating a prototype, Buying a Franchise, Buying an independent business.
Finding people needs,wants and starting a new business
Starting a new business, buying an independent business, buying a franchise, and becoming an invento
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