Ch.9 Entrepreneurship

Multiple Choice

Why is market research important for entrepreneurs?

• To avoid making incorrect assumptions about their market

• To ensure that customers don’t ask questions

• To increase product prices

• To avoid competition with other businesses

Multiple Choice

What is the difference between primary and secondary data?

• Primary data is from books, while secondary data is from surveys.

• Primary data is newly collected, while secondary data already exists.

• Secondary data is always more accurate than primary data.

• Primary data is collected by competitors, while secondary data is collected by the government.

Multiple Choice

Which of the following is an example of secondary data?

• Conducting a survey to ask customers about their preferences

• Observing customer behavior at a store

• Using government census data to learn about population trends

• Holding a focus group to discuss a new product

Multiple Choice

When creating survey questions, which of the following is most important?

• Making the questions complex to test respondents’ intelligence

• Including unfamiliar words to challenge respondents

• Keeping questions simple and clear for respondents

• Asking difficult questions first to filter out unqualified respondents