TLE ENTREPRENEURSHIP

A _______ involves selling a product and service or both.

• Business

• Needs

• Wants

• Profit

_________is a process of identifying and articulating market requirements that defines a products features set.

• Business

• Product Research

• Product Planning

• Marketability

These are basic necessities of people such as food, clothing and shelter. People cannot survive without them.

• Needs

• Wants

• Profit

• Business

__________are goods and events that people desire or wish to have. People can still live without these products like cars, cellphones, jewelries etc.

• Needs

• Wants

• Product

• Marketability

A________ is something that is manufactured following a process and nurtured in order to be sold for a profit.

• Product

• Services

• Profit

• Business

The following are examples of Needs except one:

• Food

• Shelter

• Clothing

• Toy Car

The following are examples of wants except one:

• car

• jewelries

• cellphones

• food

An individual who creates a new business, bearing most of the risks and enjoying most of the rewards

• Entrepreneurship

• Entrepreneur

• Profit

• Business

Every individual has the same wants.

• True

• False

Man’s basic needs are cars, bags and computers.

• True

• False