Understanding Business Concepts and Models Quiz

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What is the essential reason for the existence of a business entity?

Features

Benefits

Business concept (correct)

Business model

Which element of the business concept focuses on catching the attention of potential customers?

Distributorship

Features (correct)

Benefits

Manufacturing

In the context of the business model, what does a retail business model engage in?

Buying products from a distributor

Selling directly to the public after buying from a distributor or wholesaler (correct)

Transforming raw materials into a finished product

Using the parent business model instead of creating a new product

What type of business model transforms raw materials into a finished product and may sell directly to a consumer or a middleman?

Manufacturing Signup and view all the answers

What is the conceptual structure that explains how a business operates and intends to achieve its goals?

Business model Signup and view all the answers

In describing the benefits of a product or service, what should be the focus?

Discussing the solution the business can provide to ease the pain and problems of the customers Signup and view all the answers

What does a distributorship business model involve?

Purchasing products from manufacturers and selling them to retailers or the public Signup and view all the answers

Which type of business model uses the parent business model instead of creating a new product?

Franchise Signup and view all the answers

In the context of essential elements of a business concept, what is important in describing the specification of the product or service?

Features Signup and view all the answers

What type of business model purchases products from manufacturers and sells them to retailers or the public?

Distributorship Signup and view all the answers

What is the main purpose of a product description?

To present information about the product's features and attributes Signup and view all the answers

What is the focus of a display prototype?

Physical appearance Signup and view all the answers

Which type of prototype is a smaller version focused on functional and display aspects?

Miniature Signup and view all the answers

What does labelling provide to customers?

Information about the brand Signup and view all the answers

Which step comes first in building the product's prototype?

Create a concept sketch Signup and view all the answers

What is the main characteristic of a throwaway prototype?

It will eventually be discarded or thrown away Signup and view all the answers

What aspect does the brand label provide information about?

Brand of the product Signup and view all the answers

Which type of prototype is designed to imitate the function of the real product as closely as possible?

Functional prototype Signup and view all the answers

What is the purpose of evolutionary prototype?

To build a basic but strong type that can further improve and build to form an actual product. Signup and view all the answers

What is the focus of labeling on the product or package?

Information about the brand. Signup and view all the answers

What is the main purpose of prototyping?

To create a physical version of the product Signup and view all the answers

Which type of prototype is focused more on the appearance rather than the functions?

Display prototype Signup and view all the answers

What does a brand label provide information about?

The product's features and attributes Signup and view all the answers

What is the focus of a throwaway prototype?

Eventually being discarded or thrown away Signup and view all the answers

In building the product's prototype, what comes after developing a virtual prototype?

Build a physical prototype Signup and view all the answers

What is the main characteristic of an evolutionary prototype?

A basic but strong type that can further improve Signup and view all the answers

What does labeling provide to customers?

Information about the brand and the product's features Signup and view all the answers

What is the first step in building the product's prototype?

Create a concept sketch. Signup and view all the answers

What is the main function of enzymes in biochemical reactions?

To produce energy and carbon dioxide Signup and view all the answers

In which process is acetaldehyde the first product and ethanol the last?

Fermentation Signup and view all the answers

What is the composition of the cell membrane?

Phospholipid bilayer Signup and view all the answers

Which process involves the movement of molecules from an area of high concentration to an area of low concentration?

Diffusion Signup and view all the answers

What is the role of ATP in cellular processes?

To provide energy for cellular processes Signup and view all the answers

What is the main byproduct of alcohol fermentation?

CO2 Signup and view all the answers

Where does osmosis occur?

In the body, laboratory settings, and all conditions Signup and view all the answers

What is the relative concentration of solutes and solvents separated by the cell membrane?

Tonicity Signup and view all the answers

What is the type of respiration that occurs in the absence of oxygen?

Anaerobic respiration Signup and view all the answers

What process involves the combination of glucose and oxygen to produce CO2, H2O, and energy?

Aerobic respiration Signup and view all the answers