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WorksheetsEntrepreneurship - Recognizing Opportunity Quiz Review
Total questions: 15
Worksheet time: 8mins
Hiring a firm to design and produce packaging for your product is an example of:
outsourcing
demographics
innovation
corporate venture
Which of the following are some of the major trends for the creation of new businesses?
new kinds of strategic alliances with multiple companies
increased emphasis on "going green"
growth of home-based businesses
all of the above
To find a new business, you may need to hire a(n)
banker
investor
owner
business broker.
An asset of acquiring an existing business is customer loyalty, or
goodwill
the use of customers’ credit cards
ill will
customers’ curiosity about the new owner
To identify consumer markets, you should be aware of
services
demographic changes
technology
investors
Before you can determine if a new venture is feasible, you must prepare
employees
taxes
the office
a business plan
McDonald’s is an example of a(n)
hardware store
investor
franchise
family-owned business
One secret to finding a good business opportunity is the ability to understand ____________________, because changes in interests create profitable niches for new businesses to fill.
an industry
taxable income
good accountants
the law
A franchisor:
Buys a franchise and must be trained to operate the business
Collects a finders fee for franchising a business
Opens a business from scratch
sells the right to open stores and sell products or services using its brand
When franchising a business, what is a royalty fee?
A percentage fee of taxes that must be to the Internal Revenue Service.
a fee calculated as a percentage for the use of a business' name, products and services, and customers.
the cost of doing business that a business incurs for selling goods or services.
Money paid to Mr. Hirsh
Starting a new business entails more ____________________ than opening a franchise.
time and effort
money
starting capital revenue
experience
Instead of starting a new business, you could buy an existing business.
True
False
Forming a partnership with another company is:
innovation
demographics
strategic alliance
customer goodwill
Characteristics that describe a population are:
Franchisors
Franchisees
Outsourcing contracts
Demographics
Finding new ways of doing things is:
Innovation
Customer loyalty
Industry
Business accumen
