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NFTE Unit 2 Vocab Quiz

Authored by STEPHANIE WHEELER

Business

9th - 12th Grade

Used 31+ times

NFTE Unit 2 Vocab Quiz
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21 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something that you assume is true about your business.

Needs

Assumptions

Wants

Explanations

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Phase of the design process where the intended audience tests out the features of a product or service so that final changes can be made before release. Often used in app/software development.

Beta Testing

Delta

Testing assumption

Gamma

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost-effective and efficient process for iterative design for a product or service through feedback loops

Delete-Pause-Repeat

Define-Delete-Refine

Build-Measure-Learn

Compose-Revise-Draft

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Proving through ongoing market research and data analysis that your business idea is a true business opportunity; Combined result of a validated business opportunity and value proposition.

Testing

Cognitive Dissonance

Business Model Validation

Business Model Verification

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A customer need or want that can be met by a new business.

Definition of Business

Decision Analysis

Business Banking

Business Opportunity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Risks entrepreneurs take after carefully considering potential costs and benefits before starting a business.

Definitive Risk

Calculated Risk

Condensation Risk

Opportunity Risk

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A limited number of customers within a target market grouped by shared common characteristics. Many entrepreneurs will do this for specific marketing purposes.

Payment Calculator

Customer Domain

Customer Segment

Customer Solution

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