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WorksheetsBUSINESS BASICS ASSESSMENT 3RD FORM
Total questions: 15
Worksheet time: 31mins
The unique value the product provides over its competitors and why a customer should pick one product over another, is called:
Revenue
Value Proposition
Customer service
Business Model
The business model canvas consists of (a) main elements. (number)
Match the following key building block with the respective choice. Assets are:
Key resources
Key partners
Key activities
Business expenses that remain the same, regardless of the number of products produced or services provided are known as:
Variable costs
Fixed costs
Mixed costs
Cash flows
The amount that a good is sold for is known as:
The cost
The price
The profit
The break-even point
The first step in determining the product price is to determine fixed costs.
True
False
This refers to all the
stages involved in bringing a product from concept or idea,
through market release and beyond.
Product range
Product price
Product development
Product line
What is the first step in the product development process?
Planning
Launching the product
Identifying a market need
Conceptualizing
At the prototyping stage in the product development process:
The product is made and used as a sample in the market.
The product is launched on a large scale
We plan on how the product will be made
Which process involves matching the information in your accounts to the transactions on the bank account:
Making a deposit
Reconciling your bank statements
Checking your online balance
Withdrawing money from your account
The purpose of optimization in a business is to help reduce ________ .
Profits
Revenue
Costs
Sales
This area of the SWOT Analysis looks at the areas you do well or the advantages of your business:
Weaknesses
Strengths
Opportunities
Threats
This area of the SWOT Analysis looks at the potential problems or risks caused by external factors that could affect your business:
Weaknesses
Strengths
Opportunities
Threats
Which two areas of the SWOT Analysis are Positive elements?
Strengths
Weaknesses
Opportunities
Threats
Which two areas of the SWOT Analysis are Internal Elements?
Strengths
Weaknesses
Threats
Opportunities
