1. It is entirely impossible that an opportunity is out in the environment for the entrepreneurs to recognize or discover.
True
False
2. Examples of impulse goods and services include stopping at a car wash on the way home, or buying a pack of gum while standing in the checkout line.
True
False
3.
True
False
4. Opportunities may sprout within an individual.
True
False
5. When innovating, an entrepreneur should stop getting ideas to the market.
True
False
6. Emergency goods are purchased after careful reflection on whether they are really needed.
True
False
7. A product idea is an idea for a possible product a company can offer the market, while a product concept is a detailed version of the idea stated in meaningful consumer terms.
True
False
8. One of the reasons for undergoing product development is to offer something new and keep up with the latest fashion trend.
True
False
9. An example of a business opportunity’s weakness is shortage of raw materials.
True
False
10. Successful creations do not require investigation and information gathering.
True
False
11. An ’invention’ is accomplished only with the first commercial transaction involving the new product, process, system or device.
True
False
12. A critical element of opportunity recognition is assessing to what extent an opportunity is viable in the marketplace.
True
False
13. Creative people always exhibit a strong need for group approval.
True
False
14. Financial, legal, and medical services constitute specialty services.
True
False
15. Entrepreneurial creativity excludes a climate that open channels of communication among all business members.
True
False
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