Which of the following is an essential skill for developing a mobile app?

Strong coding skills or access to developers

What is a common challenge for social entrepreneurs?

Balancing financial goals with social missions

Accessing affordable technology

Understanding customer feedback

What is the primary goal of a social entrepreneur?

Solving social issues through business strategies

Expanding international markets

Crowdfunding involves:

Raising small amounts of money from many people

Which of the following best describes a business incubator?

A program that provides support for early-stage companies

A source of direct government funding

A tool for eliminating competition

What is the purpose of setting business goals?

To guide decision-making and measure success

What is the main advantage of single-use plans?

They address unique, one-time projects or goals

They eliminate the need for long-term planning

They provide a fixed strategy for recurring events

Which of the following is a characteristic of SMART goals?

Specific, Measurable, Achievable, Relevant, Time-bound

Vague, Ambitious, Random, Time-independent

Simple, Manageable, Realistic, Task-driven

Strategic, Motivational, Actionable, Resource-bound

What is the purpose of a mission statement?

To define the purpose and values of an organization

To outline long-term aspirations

What is a key benefit of social entrepreneurship?

Reducing competition in the market

What is the primary purpose of a business plan?

To secure funding and guide operations

To outline marketing strategies

Sarah has developed a fitness-tracking mobile app that allows users to set exercise goals and monitor their progress. She is considering different monetization strategies but wants to avoid heavy reliance on advertisements. Which monetization strategy would be most effective for Sarah’s app?

Offering a freemium model with premium features

Selling the app as a one-time paid download

Relying solely on third-party advertisements

Making the app free and seeking government funding

Case Study: Social Enterprise Growth Strategy James runs a social enterprise that manufactures affordable solar-powered lamps for rural communities without electricity. While his products are impactful, his business struggles with scaling operations due to limited funds. Which strategy would best help James scale his social enterprise?

Seeking impact investors or grant funding

Reducing production costs by lowering product quality

Raising prices significantly to increase profit margins

Expanding to wealthier urban markets

Critical Thinking: Business Model Evaluation A new entrepreneur is deciding between starting an online e-commerce store and developing a subscription-based mobile app. Which factors should they consider before choosing their business model?

The number of competitors in the marketThe number of competitors in the market

The amount of initial capital investment required

Customer acquisition and retention strategies

Case Study: Financial Planning for Start-Ups A tech start-up wants to develop an AI-driven personal finance app but is struggling to secure funding. Investors are hesitant due to a lack of a clear revenue model and detailed financial projections. What step should the start-up take to increase its chances of receiving funding?

Develop a clear revenue model and refine financial projections

Focus only on product development and delay funding efforts

educe operational costs by eliminating marketing

Seek immediate loans without assessing financial risks

Analysis: Business Expansion Decisions A small online clothing brand has experienced significant success in its first two years and is now considering opening a physical retail store to expand its brand presence. Which key factors should the business evaluate before making this decision?

How a physical store aligns with the company’s long-term strategy

Market demand for physical retail locations

The cost of leasing a store and hiring staff

Business Challenges in the Digital Economy Which of the following are common challenges when starting an online business? (Select all that apply)

Attracting and retaining customers

Competing with established brands

Immediate profitability from day one

Mobile App Revenue Models Which of the following are common ways mobile apps generate revenue? (Select all that apply)

Selling mobile data directly to third parties

Essential Skills for Social Entrepreneurs What skills are crucial for a social entrepreneur’s success? (Select all that apply)

Ability to balance social impact and profit

Strong networking and partnership-building skills

Avoiding government involvement

1st PARTIAL - 4th SEMESTER

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Alma Carrillo

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Shopify

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the first step in starting an online business?

Identifying a market niche

Writing a business plan

Choosing a domain name

Identifying a potential customers

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1st PARTIAL - 4th SEMESTER

45 questions

Launching a website is the first step when starting an online business.

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Mobile apps generate revenue only through free downloads

Choosing a domain name is more important than identifying a target market.

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Which of the following is an essential skill for developing a mobile app?

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Which of the following combines social impact with sustainable business practices?

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