Opportunity Recognition
7 practice questionsEntrepreneurshipStep-by-step solutions
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1
Opportunity recognition in entrepreneurship is the ability to:
A.Copy competitors exactly
B.Identify a viable, unmet market need
C.Avoid all risk
D.File patents only
2
A 'first-mover advantage' refers to the benefit a company gains by:
A.Copying competitors late
B.Being the first to enter a market or offer a product
C.Lowering all prices to zero
D.Avoiding innovation
3
Opportunity recognition in entrepreneurship involves identifying:
A.An unmet need that can be served profitably
B.The cheapest office rent
C.A competitor's logo
D.The largest possible loan
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