ENTREP Q1

Have limited income and by which they want to satisfy their maximum utility (utility is the want satisfying capacity of a commodity)

The degree to which a business or activity yields profit or financial gain

TRUE OR FALSE: Potential Market is the part of the customers you can capture from the past

A place where two parties can gather to facilitate the exchange of goods and services

A collection of people who wish to buy a specific product or service

TRUE OR FALSE: Potential Market Includes the demographic groups that are currently your customers but could become customers in the future

TRUE OR FALSE

The first and most important factor to consider while determining market potential is the market size of your product

Provides an insight into the size of the opportunity a company might have

Ability of a company to use its resources to generate revenues in excess of its expenses