obj 2
For a prospective entrepreneur, what is necessary to determine the existence of goods and services?
Entrepreneurial discovery
Entrepreneurial discovery is an important process in a free-enterprise economic system because an entrepreneur or small-business owner will most likely accomplish which goal?
Satisfy an unmet demand
What is a global trend that might encourage an entrepreneur to consider international business opportunities?
Lower tariffs
Which personality trait is often associated with creative people?
After a Korean auto manufacturer built a plant in Ames, Iowa, Kwan noticed a substantial growth of Korean residents in the area, many of whom were relocated to Ames to work for the plant. Kwan decided to import Korean goods and sell them in a small Korean specialty store near town. This is an example of a product opportunity resulting from which situation?
Shifts in popularity ethnicity
When using mind mapping to generate product ideas, it is best begin by writing down the main problem or which other component?
Market opportunity
Jessica’s hobby is making jewelry. There is potential to sell her bracelets and earrings on eBay. This is an example of identifying a product opportunity by considering which factors?
Personal experiences
Which process helps aspiring entrepreneurs generate venture ideas?
Creative thinking
What is an example of a demographic trend that has encouraged entrepreneurial discovery?
Increased cultural diversity
What is an example of a demographic trend?
The aging of the population
What is usually a characteristic of a creative person?
Likes to seek out new challenges
The primary responsibility of the facilitator of a product idea brainstorming session are to compile all of the ideas and perform which other action?
Which statement is true about a business environment?
It is always changing.
When determining venture-creation opportunities, entrepreneurs must first perform what action?
Conduct research
People who are naturally creative often possess what attribute?
Mentally flexible
When generating new ideas for new businesses, entrepreneurs often look for ways to perform what action?
Solve problems