Entrepreneurial Opportunity Identification

Commerce ⇒ Entrepreneurship

Entrepreneurial Opportunity Identification starts at 11 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Entrepreneurial Opportunity Identification. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 11

Describe the role of creativity in opportunity identification.

Explain any two methods used by entrepreneurs to identify opportunities.

Explain how social changes can create entrepreneurial opportunities.

Explain how technological changes can lead to new business opportunities.

Explain the difference between an idea and an opportunity.

Explain the importance of opportunity identification in entrepreneurship.

List any three sources from which entrepreneurs can identify opportunities.

Amit noticed that many people in his city are looking for healthy food options. He decides to start a salad bar. Which method of opportunity identification did Amit use? (1) Observing trends (2) Copying competitors (3) Ignoring feedback (4) Reducing prices

Which of the following is a benefit of identifying the right opportunity? (1) Increased risk (2) Higher chances of business success (3) Wastage of resources (4) Ignoring customer needs

Which of the following is a reason why entrepreneurs conduct feasibility studies? (1) To ignore risks (2) To assess the viability of an opportunity (3) To copy competitors (4) To avoid innovation

Which of the following is a tool used for opportunity identification? (1) SWOT analysis (2) Balance sheet (3) Ledger (4) Trial balance

Fill in the blank: ________ is the ability to see and pursue opportunities that others may not notice.

Fill in the blank: ________ is the process of collecting and analyzing information about the market to identify business opportunities.

Fill in the blank: ________ is the process of evaluating the strengths, weaknesses, opportunities, and threats related to a business idea.

Fill in the blank: ________ is the process of finding new uses for existing products or services to create opportunities.

Is it necessary for an entrepreneur to have a unique idea to identify an opportunity? (Yes/No)

Is it true that changes in government policy can create new business opportunities? (Yes/No)

Is it true that customer feedback can help in identifying new business opportunities? (Yes/No)

Is it true that entrepreneurs can identify opportunities by observing changes in consumer lifestyles? (Yes/No)