Entrepreneurship Midterm Quiz

What does assessing rewards and opportunities of entrepreneurship involve?

• Evaluating potential benefits and market possibilities

• Focusing solely on financial risks

• Ignoring market trends

• Assessing only personal fulfillment

Which of the following is NOT a key aspect of assessing entrepreneurial rewards?

• Financial rewards

• Personal fulfillment

• Market competition

• Creativity and innovation

What is a potential financial reward of entrepreneurship?

• Fixed work hours

• High profit margins

• Increased job security

• Guaranteed success

What does autonomy in entrepreneurship refer to?

• Mandatory collaboration

• Limited decision-making power

• Working under strict supervision

• Freedom to make decisions

What is the purpose of market analysis in assessing an entrepreneurial opportunity?

• To determine the total potential customer base

• To ignore customer needs

• To avoid financial projections

• To focus only on competitors

Which analysis helps identify strengths and weaknesses in a business?

• SWOT analysis

• Financial analysis

• Market validation

• Competitor analysis

What does the unique selling proposition (USP) define?

• The financial risks involved

• What makes a product or service stand out

• The regulatory requirements

• The total market size

Which factor is NOT considered when assessing an entrepreneurial opportunity?

• Market validation

• Team capabilities

• Personal interests

• Regulatory environment

What is the significance of revenue projections?

• Forecasting potential sales and income

• Assessing operational efficiency

• Estimating startup costs

• Identifying direct competitors

What does scalability assessment evaluate?

• Employee performance

• Ability to expand the business

• Market trends

• Customer satisfaction levels