Entrepreneurship Terms #2

An Elevator pitch is:

• A long business plan

• A short persuasive speech

• A type of elevator

• A formal proposal

What is a Pitch in entrepreneurship?

• A musical note

• A type of sports field

• A presentation to potential investors

• A type of business model

What is a business strategy?

• a detailed plan for achieving success in business.

• a random approach to business operations.

• an unplanned method of conducting business.

• a spontaneous decision-making process.

What does 'Startup cost' mean?

• Initial expenses for setting up a new business

• Ongoing operational costs

• Revenue generated by a startup

• Profit earned by a startup

What does a loss in business mean?

• Decrease in revenue

• Increase in expenses

• Expenses exceed revenues

• Reduction in workforce

What is revenue in business?

• Total income from sales.

• Net profit after expenses.

• Total business expenses.

• Money invested in the business.

What is a Patent?

• A type of trademark

• A form of intellectual property

• A legal document for land ownership

• A type of copyright

A Franchise is a business model where a company grants an individual or group the right to operate a business using its brand, products, and methods.

• A business model involving a partnership between two companies.

• A business model where a company grants rights to operate using its brand.

• A type of business that operates independently without any brand association.

• A business model where a company sells its products directly to consumers.

Market research is:

• Gathering information about consumers' needs and preferences.

• A type of financial analysis.

• A method of manufacturing products.

• A legal requirement for all businesses.

A focus group is a research method used to gather feedback and opinions from a selected group of people.

• A method to gather feedback from a large audience

• A research method involving a selected group for feedback

• A technique for individual interviews

• A statistical analysis tool