Nine Weeks Exam Review

Which of the following is not part of a SWOT analysis?

• threats

• organizations

• strengths

• weaknesses

Which of the following is not a method for determining the feasibility of a business idea?

• opportunity-cost analysis

• cost/benefit analysis

• SWOT analysis

• intangibility analysis

Critical thinking is an entrepreneurial mindset skill that involves

• using the creative part of your mind to analyze or evaluate a situation

• being critical of your business associates

• thinking like a critic

• using logic to analyze and evaluate a situation or object

Fred Smith was a college student when he founded

• The Smithsonian

• Federal Express

• Apple

• Granny Smith Apples

Critical thinking involves

• objectivity

• logic

• subjectivity

• all of the above

Making a judgment about another person based on how you feel about his or her favorite artist

is

• fair

• subjective

• objective

• balanced

To conduct an accurate cost/benefit analysis, don’t forget to include

• calculated risk

• threats

• insurance benefits

• opportunity cost

When performing a SWOT analysis of a business opportunity, your competitors would be

classified as a

• threat

• weakness

• option

• strength

A calculated risk is one that carefully considers the potential costs and benefits of an idea.

• T

• F

A problem with cost/benefit analysis is assigning a monetary value to intangible things, such

as time.

• T

• F