Chapter 4 Test

1. An idea that can generate income, requiring a commitment of resources and involves exposure to risk.

is known as ______________.

• A. Concept

• B. Opportunity

• C. Idea

• D. Benefit

2. An advantage that is gained from the use or consumption of a good or service.

• A. Concept

• B. Opportunity

• C. Idea

• D. Benefit

Tags

CCSS.RI.5.4

CCSS.RI.9-10.4

CCSS.RI.K.4

CCSS.RL.4.4

CCSS.RL.8.4

3. A concept developed by the mind.

• A. Concept

• B. Opportunity

• C. Idea

• D. Benefit

Tags

CCSS.RI.1.4

CCSS.RI.5.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.3.4

4. A good idea may not be an opportunity due to bad timing.

• True

• False

Tags

CCSS.RI.3.2

CCSS.RL.11-12.2

CCSS.RL.2.2

CCSS.RL.4.2

CCSS.RL.8.2

5. Specific attributes that make something one of a kind are referred to as _____________.

• Unique

• Opportunity

• Idea

• Benefit

Tags

CCSS.RI.4.2

CCSS.RI.K.1

CCSS.RL.4.1

CCSS.RL.5.1

CCSS.RL.6.2

6. A business activity that yields a profit or financial gain is known as being ______________.

• Unique

• Opportunity

• Relevant

• Profitable

Tags

CCSS.RI.4.2

CCSS.RI.6.2

CCSS.RL.1.1

CCSS.RL.1.2

CCSS.RL.5.2

7. The act of exploring, investigating, and examining unknown markets for opportunities is known as________.

• Unique

• Opportunity

• Relevant

• Exploration

8. The fulfillment of one’s expectations or needs is known as satisfaction.

• True

• False

Tags

CCSS.RI.7.10

CCSS.RL.3.10

CCSS.RL.5.10

CCSS.RL.5.6

CCSS.RL.7.10

9. An intangible product can be touched.

• True

• False

Tags

CCSS.RI.1.7

CCSS.RI.3.7

CCSS.RL.1.7

CCSS.RL.2.7

CCSS.RL.3.7

10. Appropriate to the current time, period, or circumstances.

• Unique

• Opportunity

• Relevant

• Exploration

Tags

CCSS.RI.1.4

CCSS.RI.2.4

CCSS.RI.4.4

CCSS.RL.5.4

CCSS.RL.7.4