WorksheetsChapter 6.2 Vocab Quiz
Total questions: 19
Worksheet time: 35mins
Choose the correct vocabulary term based on the following definition:
A consumer need or want that can be potentially met by a new business.
Business opportunity
Window of opportunity
Royalty fee
Calculated risk
Opportunity cost
Choose the correct vocabulary term based on the following definition:
The value of what you will give up to get something.
Business opportunity
Window of opportunity
Royalty fee
Calculated risk
Opportunity cost
Choose the correct vocabulary term based on the following definition:
A franchise buyer.
Franchisor
Franchisee
Choose the correct vocabulary term based on the following definition:
A franchise seller.
Franchisor
Franchisee
Choose the correct vocabulary term based on the following definition:
The period of time you have to act before the opportunity is lost.
Business opportunity
Window of opportunity
Royalty fee
Calculated risk
Opportunity cost
Choose the correct vocabulary term based on the following definition:
A regular, ongoing payment that is based on a percentage of the sales a franchise earns.
Business opportunity
Window of opportunity
Royalty fee
Calculated risk
Opportunity cost
Choose the correct vocabulary term based on the following definition:
Carefully considering the potential costs and benefits.
Business opportunity
Window of opportunity
Royalty fee
Calculated risk
Opportunity cost
In economics, what is considered as something that people must have to survive?
In economics, what is a product or service that people desire?
What is defined as "a convention where related businesses come to promote their products or services"?
What is defined as "a logical thought process that involves analyzing and evaluating a situation or object"?
What is the definition of creative thinking?
What is a business broker?
What is a nondisclosure agreement?
Feasibility is defined as:
A model which future reproductions of an invention are based.
How possible or worthwhile it is to pursue an idea, to see if it's actually an opportunity.
Nonmaterial things.
A franchise buyer.
A prototype is defined as:
A model which future reproductions of an invention are based.
How possible or worthwhile it is to pursue an idea, to see if it's actually an opportunity.
Nonmaterial things.
A franchise buyer.
What is defined as, "the process of adding up all the expected benefits of an opportunity and subtracting all the expected costs."
Which one of these choices are considered intangible?
Money
Your laptop
Time
Food
A SWOT analysis is a business method that draws its name from the four areas it evaluates:
Strengths, Weaknesses, Opportunities, and _.
Time
Taxes
Threats
Tangible assets
Target market
