Unit 2 Test Review ENT 1 Honors

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

• It can be avoided

• It is always changing

• 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

• emotional

• indifferent

• aware.

• decisive

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)

• Preventable Accident

• Preventable Accident

• Economic Crisis

• Market Need

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

• Form a technological monopoly

• Satisfy an unmet demand

• Improve economic sanctions

• Change local requirements

A business cannot control its

• personnel

• external environment

• research and development

• production

Which of the following is a tool that can be used to carry out scanning activities:

• Information obtained from television is unreliable

• You should avoid using surveys

• You must focus only on relevant information

• All information should be obtained in a formal matter

A main reason that environmental scanning is important is so that businesses can be aware of

• competitors' internal environments

• potential threats

• foreign markets

• new products

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

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

• It consists of the economy and technology

• It can be avoided

• It is always changing

Which of the following is a true statement about the term "environment"?

• it consists of your surroundings

• it applies to individuals, not businesses

• it consists of your food groups

• it applies to animals, not businesses