Entrepreneurship For Kids - Naomi's Competitors

Naomi, a young entrepreneur, learns about competition when her dad informs her of Myra's lemonade stand nearby. He explains the importance of focusing on her own work while keeping an eye on competitors. Naomi observes Myra's stand and notes that her lemonade is not as good. The video concludes with advice on differentiating from competitors and hints at the next video where Naomi will improve her product.

What is the main concern Naomi has about competition?

• She believes competition is unnecessary.

• She feels competition is easy to overcome.

• She worries there will always be competition.

• She thinks competition is unfair.

According to Naomi's dad, what should Naomi focus on?

• Copying her competitors.

• Complaining about competition.

• Ignoring her competitors.

• Focusing on her own work.

What does Naomi learn from tasting Myra's lemonade?

• It is better than hers.

• It is too sweet.

• It is too sour.

• It is not as good and is warm.

What is a suggested strategy to stand out from competitors?

• Ignore their existence.

• Lower your prices.

• Sell the same product.

• Be different from them.

What is hinted at the end of the video?

• Myra will close her stand.

• Naomi will improve her lemonade.

• Naomi will start a new business.

• Naomi will stop selling lemonade.