Which of the following is not a method for determining the feasibility of a business idea?

Critical thinking is an entrepreneurial mindset skill that involves

Fred Smith was a college student when he founded

Critical thinking involves

Making a judgment about another person based on how you feel about his or her favorite artist

is

To conduct an accurate cost/benefit analysis, don’t forget to include

When performing a SWOT analysis of a business opportunity, your competitors would be

classified as a

A calculated risk is one that carefully considers the potential costs and benefits of an idea.

A problem with cost/benefit analysis is assigning a monetary value to intangible things, such

as time.

A SWOT analysis measures strengths, weaknesses, opportunities, and time frame.

A SWOT analysis is a type of business plan.

Critical thinking is also called “vertical thinking.”

To be subjective is to be swayed in your decision-making by your feelings and opinions.

Entrepreneurs use three methods to evaluate business ideas: SWOT analysis, cost/benefit

analysis and intangible analysis.

An opportunity cost of going to college for four years is the money you could earn working at a

job instead for four years.

SWOT analysis is only useful when starting a business, not while operating a business.

Entrepreneurs use cost/benefit analysis to help determine the calculated risk of starting a new

venture.

You can buy an independent business from a

A manufacturer with whom you discuss a product idea should sign this type of agreement to

keep the information that is discussed confidential.

You can recognize potential business ideas from which of the following sources?

The time period for acting on a business opportunity before it is lost is called the

Which of the following is not a benefit of buying a franchise?

A royalty fee is paid

Madame C. J. Walker was

An idea might be a business opportunity

A need is something people must have to

Your favorite hobby is an example of an

A talent is an external source of opportunity

A talent is an external source of opportunity

A business broker is someone who is licensed to sell businesses.

A working prototype is a computer-aided drawing of an invention.

A trade show is a convention where entrepreneurs gather to enter business plan competitions.

You could use your unique knowledge of your community to generate business opportunities.

Change often produces new wants or needs that existing businesses haven’t met yet. 17

To pivot means to change or revise a business idea to make it a better opportunity.

If a business idea can’t make a profit, it is a good business opportunity.

Ideas for business opportunities can be found in newspapers and magazines.

Which of the following is not a creative-thinking technique?

You can recognize potential business ideas from which of the following sources?

Which of the following describes creative thinking?

Using an idea map can

An idea map should

Generating creative ideas

Creative thinking is also called

Which of the following people was not a founder of Apple?

Ideation is

Which of the following attitudes make it difficult to be creative?

Critical thinking is the same as negative thinking.

Ideas for business opportunities can be found in newspapers and magazines.

When brainstorming ideas, screen out those which seem impractical. 13

It’s better to brainstorm alone than with a group.

Positive thinking makes it easier to be creative.

A word processor is a machine that prints words on paper.

To generate business ideas, ask other people about their pain points.

Daydreaming can be a useful way to visualize a new business idea.

Brainstorming is a creative thinking technique that involves quickly saying or writing down as

many ideas as possible, even ridiculous ones.

Entrepreneurs sometimes come up with business ideas by challenging the unusual.