1. ?________ allow entrepreneurs to produce goods or services at lower? costs, which allows the entrepreneurs to satisfy the needs of customers more effectively.
A. New methods of production
B. New markets
C. New raw materials
D. New methods of organizing
E. New products
2. Rick and Jose gain new market information regarding a potential entrepreneurial opportunity. Despite the fact that both of them have gained access to this new? information, only one of these individuals has access to additional information suggesting that other competitors are already moving to exploit this opportunity. What is this an example? of?
A. information asymmetry
B. information assurance
C. information reliability
D. information asset
E. social networking
3. Which of the following is an example of an opportunity that has arisen from new uses for raw? materials?
A. raising chickens without using any antibiotics
B. an American bank providing services in Canada
C. using corn to produce ethanol
D. the invention of the heart stent
E. using the Internet to sell a product
4. Mike wants to start his own laundry service.? However, he intends to first study the market and consider factors like who his competitors? are, how they? function, their market? shares, how he can attract prospective?customers, etc., before he decides whether his plan is viable. Mike is engaging in? ________.
A. feasibility analysis
B. entrepreneurial risk management
C. exploitation
D. benchmarking
E. angel investing