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5.6: Review Questions

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  • Page ID
    50782

    • Michael Laverty and Chris Littel et al.
    • OpenStax
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    1.

    What is entrepreneurial opportunity?

    2.

    What are five methods through which an entrepreneur can create new economic opportunities, according to Joseph Schumpeter?

    3.

    What are some factors that might indicate it is a good time to start a business?

    4.

    When should an entrepreneur explore opportunities?

    5.

    What should a potential entrepreneur research before starting a business?

    6.

    What kind of information is available in census data and how might that data be useful?

    7.

    Compare and contrast supply-based opportunities and demand-based opportunities.

    8.

    How can using a PEST analysis contribute to discovering new patterns of trends for recognizing entrepreneurial opportunities?

    9.

    What is a SWOT analysis and how is it useful?

    10.

    What is a unique selling proposition?

    11.

    What is a business model?

    This page titled 5.6: Review Questions is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by Michael Laverty and Chris Littel et al. (OpenStax) via source content that was edited to the style and standards of the LibreTexts platform; a detailed edit history is available upon request.