Podcast
Questions and Answers
What do entrepreneurs need to focus on to avoid losses in their business?
What do entrepreneurs need to focus on to avoid losses in their business?
- Ignoring the estimated capital
- Making adjustments based on estimated capital (correct)
- Relying solely on the product's uniqueness
- Expanding the business too quickly
What is essential to win over other markets according to the text?
What is essential to win over other markets according to the text?
- Ignoring the competition
- Offering lower prices than competitors
- A combination of strength and confidence (correct)
- Mimicking the products of competitors
What aspect can easily attract customers to gain more profits?
What aspect can easily attract customers to gain more profits?
- Uniqueness of the products (correct)
- Lowering the production costs
- Increasing the number of competitors
- Decreasing product quality
What are the three processes mentioned in creating a new venture?
What are the three processes mentioned in creating a new venture?
What is the Unique Selling Proposition (USP) used for?
What is the Unique Selling Proposition (USP) used for?
Why is Value Proposition (VP) important for entrepreneurs?
Why is Value Proposition (VP) important for entrepreneurs?
What type of partnership aims to protect innocent partners from the malpractice and wrongdoings of other partners?
What type of partnership aims to protect innocent partners from the malpractice and wrongdoings of other partners?
In a stock corporation, what percentage of the authorized capital must be paid as incorporation?
In a stock corporation, what percentage of the authorized capital must be paid as incorporation?
Which type of partnership has unlimited liability for its partners?
Which type of partnership has unlimited liability for its partners?
What is the maximum number of persons allowed to own issued stocks in a close corporation?
What is the maximum number of persons allowed to own issued stocks in a close corporation?
What is a business arrangement where two or more parties agree to pool their resources for a specific task called?
What is a business arrangement where two or more parties agree to pool their resources for a specific task called?
Which type of corporation is organized to carry out purposes other than generating profits or investors?
Which type of corporation is organized to carry out purposes other than generating profits or investors?
Which of the following is considered a substitute good?
Which of the following is considered a substitute good?
What is the relationship between complementary goods and demand?
What is the relationship between complementary goods and demand?
How does consumer information affect demand?
How does consumer information affect demand?
How do consumer expectations of future prices affect demand?
How do consumer expectations of future prices affect demand?
What is the relationship between the number of consumers in the market and demand?
What is the relationship between the number of consumers in the market and demand?
What is the relationship between supply and the Law of Supply?
What is the relationship between supply and the Law of Supply?
What is the primary purpose of SWOT Analysis for entrepreneurs?
What is the primary purpose of SWOT Analysis for entrepreneurs?
Which of the following is an example of an internal weakness for a business?
Which of the following is an example of an internal weakness for a business?
What is the first criterion to examine when evaluating the feasibility of a business idea?
What is the first criterion to examine when evaluating the feasibility of a business idea?
What does the 'T' in SWOT Analysis stand for?
What does the 'T' in SWOT Analysis stand for?
Which of the following is an example of an external opportunity for a business?
Which of the following is an example of an external opportunity for a business?
Why is timing an important consideration when evaluating a business idea?
Why is timing an important consideration when evaluating a business idea?
What is the primary purpose of a Unique Selling Proposition (USP)?
What is the primary purpose of a Unique Selling Proposition (USP)?
What is the relationship between Value Proposition and Unique Selling Proposition?
What is the relationship between Value Proposition and Unique Selling Proposition?
What is the primary focus when understanding the target market?
What is the primary focus when understanding the target market?
Which of the following is NOT mentioned as a commonly used method for segmenting markets?
Which of the following is NOT mentioned as a commonly used method for segmenting markets?
What is the purpose of target marketing, according to the text?
What is the purpose of target marketing, according to the text?
What should be the primary consideration when choosing a product for a target market?
What should be the primary consideration when choosing a product for a target market?
