Midterm in Business Enterprise Simulation

These are things that are essential for us to be able to live with dignity and pride within the community.

These are considered as luxuries and extravagance that signify wealth and expensive way of living.

The following are considered as needs EXCEPT:

Introducing an entirely new product to the market is called.

It is an undertaking by a person or a group of persons who are partners, or of stockholders who own a juridical entity known as a corporation. Its main objective is to earn profit for the owners.

It is defined as a good or favorable change available to run a specific business in a given environment at a given point of time.

Good business opportunities and ideas can be generated from the following sources EXCEPT:

It is defined as the process of continually and actively monitoring the external environment, in order to identify customer needs, anticipate competitive actions, and identify technological changes which will provide new market opportunities or market disruptions.

Environment in the community can be viewed according to all factors EXCEPT:

The __________ factors in SWOT analysis are considered negative factors because can be harmful for your business and prevent your business success.

Lenny started a piggery business in her backyard. However, her neighbors started to complain about her business and they petitioned to the barangay to have her business closed. Which factor in the SWOT analysis is this?

Bobbie, owner of the Thai Massage and Spa shop, discovered a new shop opened within their community which offers traditional hilot massage. Which among Porter’s five forces is this related to?

Luna plans to put a digi-print studio in their locality. Which of the following will help her determine her plans for a success in setting up of her business?

For a business, __________ is the ability to provide products and services as or more effectively and efficiently than the relevant competitors.

Arvin’s supplier increased the price for matcha, which is the main ingredient for his milk tea shop. However, since there are no other suppliers for matcha, Arvin has to agree with the supplier’s increase in price. This is known as __________.