Module 8: Entrepreneurial Opportunity 8.4. Quiz Exam Answers
Module 8: Entrepreneurial Opportunity 8.4. Quiz Exam Answers
The Module 8: Entrepreneurial Opportunity 8.4 Quiz Exam Answers provide a clear and reliable resource for learners focusing on how to identify and evaluate viable business opportunities. This module emphasizes key concepts such as market needs, problem-solving approaches, value creation, and feasibility analysis in entrepreneurship. With verified questions and accurate answers, students can strengthen their understanding, confidently complete the quiz assessment, and develop the skills needed to recognize and act on promising entrepreneurial opportunities in today’s competitive landscape.
1. Casper and Purple, mail order mattress companies, are examples of what kind of entrepreneurial opportunity.
- New product development
- New technology
- Existing product made less expensively
- Existing product different use and new market
2. Which definition below describes where and how an entrepreneurial opportunity occurs?
- An entrepreneurial opportunity comes about from recognizing a problem and making a deliberate attempt to solve that problem.
- An entrepreneurial opportunity comes about from creating a problem and making a deliberate attempt to find and solve that problem.
- An entrepreneurial opportunity comes about from recognizing a new problem and making an attempt to research that problem.
- An entrepreneurial opportunity comes about from finding a problem and making a deliberate attempt to research that problem.
3. Which entrepreneurial venture below is an example of creative destruction?
- Microsoft Windows
- Tesla electric vehicles
- Apple iPhone
- Uber
4. Which of the following opportunities are a demand opportunity?
- Find a new supply of resources that would enable the entrepreneur to produce the product for less money.
- Use existing technology to produce an old product in a new way.
- Develop a new market for an existing product.
- Use an existing technology to produce a new product.
- Finally, use new technology to produce a new product.
5. Entrepreneurial opportunities for underserved people and communities can be served best by:
- Technological advancements
- Increased globalization
- Economic factors
- Increased access to capital
done
6. Why is growth in intellectual capital important to entrepreneurial opportunities?
- Increases opportunities that new technologies are being developed that entrepreneurs can use to create other ventures
- Increases opportunities that new capital will be available that entrepreneurs can use to create other ventures
- Increases opportunities that new ventures are being created and the GDP of nations increases, thus creating a strong economy
- Increases opportunities that new technologies are being created and the GDP of nations increases thus creating opportunity for technological advances