1.
An effective tool used to help assess ideas is the......
A. 
B. 
C. 
D. 
2.
Capital requirements, estimate earnings, and return on investment are three aspects of the
financial feasibility analysis.
3.
The purpose of a feasibility study is to determine whether a business idea is worth pursuing.
4.
Which of the following is not a macro force that creates change in industries?
A. 
B. 
C. 
D. 
5.
The Internet is an example of a ________ force.
A. 
B. 
C. 
D. 
6.
Changing demographics create opportunities for entrepreneurs.
7.
The strongest of the five forces in most industries is ________.
A. 
Rivalry among companies competing in the industry
B. 
Bargaining power of buyers
C. 
Threat of new entrants to the industry
D. 
Threat of substitute products or services
8.
The primary purpose of the five forces matrix is to ________.
A. 
Assign values to each of the five elements
B. 
C. 
List the five forces in rank order
D. 
Assess the five forces as compared to a standard value
9.
Capital required to compete in an industry determines ________
A. 
Bargaining power of buyers
B. 
Bargaining power of suppliers
C. 
D. 
10.
Generally, an industry is more attractive when competitors are not similar in size or
capability.
11.
Generally, an industry is more attractive to new entrants when the advantages of economies
of scale are present.
12.
One of the cautions with a niche strategy is that niches change.
13.
One form of primary research is ________.
A. 
To review published articles
B. 
C. 
D. 
14.
Getting traffic counts at local competitor outlets is an example of ________ research.
A. 
B. 
C. 
D. 
15.
Secondary research includes customer surveys.
16.
In designing customer surveys it is a good idea to keep them short.
17.
Testing with prototypes is known as beta tests.
18.
Time out of cash is relevant to ________ analysis.
A. 
B. 
C. 
D. 
19.
The typical start-up in the United States needs a launch capital of ________.
A. 
B. 
C. 
D. 
20.
________ is the number of months the business can survive at its current rate of negative
cash flow.
A. 
B. 
C. 
D. 
21.
Having access to capital is called entrepreneurial readiness.
22.
The Business Model Canvas has ________ elements.
A. 
B. 
C. 
D. 
23.
Ideally, a focus group should have ________ members.
A. 
B. 
C. 
D. 
24.
Using focus groups is an example of primary research.
25.
A venture must produce an attractive rate of return relative to the level of risk it requires.