Chapter 8 Entrepreneurship Quiz

Logical Thought process that involves analyzing and evaluating a situation or object.

• Critical thinking

• vertical thinking

• subjective

• objective

fair without emotion or prejuidice

• objective

• Subjective

affected by existing opinions, feelings, and beliefs.

• objective

• Subjective

how possible to worthwhile it is to pursue a idea, to see if it is actually an opportunity.

• Feasibility

• objective

• product

• service

The potential cost and benefits are carefully considered before starting a business

• opportunity cost

• Swot analysis

• Calculated Risk

• Intangible

Used to determine calculated risk.

• Swot analysis

• risk

• product

• Cost Benefit analysis

The Value of your time

• product

• Intangible

• calculated risk

• value

The value of something you get in exchange for something that you give,

• Intangible

• Opportunity Cost

• risk

• guess

The Four Swot analysis are Strenghts Cost Weaknesses and Opportunities

• True

• False

Alternative to traditional business planning.

• Cost

• Business canvas

• risk

• TIme