E OBJ 2.01 A MC

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

• It is always changing

• It can be avoided

• It may not affect the business,depending on the industry

• It consists of the economy and technology

Identifying new product opportunities usually requires a person to be

• aware.

• emotional.

• decisive.

• indifferent.

Which of the following statements is true about entrepreneurial discovery:

• It's an ongoing process that facilitates a business's success rate.

• It ensures that start-up businesses have continuous funding.

• It's a way to determine the long-term profit that a start-up company can generate.

• It provides entrepreneurs with professional development training.

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

• Market Need

• Creative Observation

• Preventable Accident

• Economic Crisis

Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and

• what needs to be done

• what was done in the past

• when changes were made the last time

• how things are being done

Entrepreneurial discovery is an important process in a free-enterprise economic system because an entrepreneurs or small-business owner can

• Satisfy an unmet demand

• Change local requirements

• Improve economic sanctions

• Form a technological monolopy