Entrepreneurship Warm-Ups 10/27/23
Quiz by NeKeisha King Price
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5 questions
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- Q1What is an important consideration when starting a business?Favorite vacation spotMarket demandFavorite colorFavorite food30s
- Q2Why is a business plan important for starting a business?To provide a roadmap and guide for the businessTo attract investors with flashy designsTo showcase artistic talentTo fulfill a legal requirement30s
- Q3What is the purpose of conducting market research when starting a business?To choose a fancy brand nameTo calculate projected revenueTo identify customer needs and preferencesTo determine the business location30s
- Q4What is the meaning of the term 'break-even point' in entrepreneurship?The point at which total revenue equals total expensesThe point where a business decides to shut downThe point where a business achieves maximum profitabilityThe point where a business reaches its target market30s
- Q5What is the purpose of a target market in business?To increase brand awarenessTo reduce production costsTo identify and focus on a specific group of customersTo expand the business globally30s