Chapter 3 Opportunities

A favorable set of circumstances that creates a need for a new product is called ________.

• consumer problem
• business challenge
• market opportunity

• market demand

Which essential quality is described when the product is created at the time it is needed the most?

• attractive

• timely

• durable

• achored to a product

An opportunity is durable if __________

• it can earn a lot of profit

• it can stay for a long period of time

• it is unique

• It has a perfect timing

The the idea is unique, with potential to earn a lot is quality of opportunity called ______

• attractive

• timely

• durable

• achored to a product

Which of the following is NOT an approach to finding opportunity?

• Observing trend

• solving problem

• finding a gap

• having a rich father

Observing the people whether they have high income based on the status of the economy is what type of trend?

• Economic

• social

• political

• technological

Opening a business based on observing what the popular fashion style in 2023 is what type of trend?

• economic

• social

• technological

• political

Creating a new product based on the new technology available is what type of trend?

• economic

• social

• technological

• political

Because of the policy from one child policy to 2 child policy, there will be an opportunity in selling baby products. Which trend is described?

• economic

• social

• technological

• political

Working for other people's business to learn how find future business opportunities belongs to which characteristic of an entrepreneur?

• prior experience

• cognitive factor

• social network

• creativity