entreprenuership final :)

Transactional, Personal Assistance, Switching costs, self-service are all examples of:

Customer Relationship

Mass Market, Niche Market, Behavioral, High-Net Worth are all part of:

Customer Segmentation

Which of the following is NOT part of the Business Model Canvas?

Customer Support

The most important tasks a company must carry out in order to fulfill its business purpose are called:

Key Activities

A Joint-Venture is one type of:

Key Partnerships

For a hotel chain that relies heavily on its employees to generate revenue, customers service is one of its:

Key Resources

All natural resources that are used to produce goods and services are called

Land

The 4 factors in production are:

Land, Labor, Capital, Entrepreneurship

The four products of production are:

Land, Labor, capital, entrepreneurship

What is the main a concern of the business model?

Meet customers' needs

One of the following activities is NOT be part of Revenue Streams:

Negotiation

Which factors will not cause a shift in supply (Decrease or Increase)?

None of the above

A scarce good is:

One for which the choice of one alternative requires that another be given up

Companies need partnerships because:

Partnerships can help save money and grow while reducing risk.

One of the following is NOT a Factor of Production

Patent

Labor is:

People that get paid to work

The three ways to segment a market are, EXCEPT:

Physical

What happens with the PRICE when the quantity supplied exceeds the quantity demanded?

Price tends to fall

Hobbies are part of:

Psychographic segmentation

For any business, the Key Performance Indicator (KPI) is:

Revenue Stream

Scanning your items and paying for them at the machine in the department store is an example of:

Revenue Stream

When you lease your business license to individuals and other businesses you are creating a:

Revenue Stream

Transaction-based and Recurring incomes are the types of:

Revenue Streams

One of the following is NOT part Revenue Streams:

Robotization

What are the 3 central ideas to economics?

Scarcity, Choice, Cost

Which of the following statements is FALSE about Value Proposition?

Selling your product is more important than Value Proposition

The condition that exists when quantity demanded exceeds quantity supplied at the current price is called:

Shortage

Which of the following is a characteristic of a job customers want to do in the value proposition?

Social

Who is an entrepreneur?

Someone who creates a new business while enjoying the risk and reward

The following are the types of Market Segmentation, EXCEPT:

Spectrographic

Which of the following is a quality of an entrepreneur?

The ability to take risks

Which of the following statements is NOT true about the laws of Supply and Demand?

The demand is greater when the price is higher

The Job-To-Be-Done is all the following, EXCEPT:

The job the product or service is designed to do for customers

Which factors will cause a shift in demand (Decrease or Increase)

customer expectation & income (A&C)

The Lean Startup provides an analytical approach to creating and managing startups and get desired product to customers hands faster.

false

A value proposition creates a strong first impression

true

Each customer segment will have different needs.

true

A business Model is concerned with the following, EXCEPT:

Create a great investment opportunity

What are customer relationships?

A strategy on how to get, keep, and grow your customer segments

Which of the following can help you assess the scalability of your business?

All of the above

Tp manage the risks that come with partnerships you should:

All the above

One the following statements about Entrepreneurship is FALSE:

An entrepreneur manages other people businesses

Which of the following is NOT a customer relationship method?

Automated

As key activity, technology key activity can:

Be leveraged to provide value added for customers.

When a business divides its market based on how customers buy, this is called:

Behavioral segmentation

All companies are concerned with:

Both how to make money and how to spend money

An online store where you can sell your products is an example of:

Channels of Distribution

When competitors become partners, this is called:

Co-opetition

Using low price value proposition, maximum automation, and extensive outsourcing are examples of:

Cost Driven business

Which of the following is NOT a element of Value Proposition?

Cost of product

Which of the following is NOT a step in the Lean Start-up method?

Create a Customer Relationship

One of the following is a benefit of Direct Channels

Keep costs down

The most important task to be accomplished during Customer Discovery is:

Defining the market

When a business sells its product to customers and skips wholesalers and retailers, it uses a:

Direct Distribution Channel

The two types of distribution channels are:

Direct and Indirect

Customer Segment is:

Dividing customers into groups with different needs and characteristics

When you reduce the costs by producing of the same goods or services you are doing:

Economies of Scale

When a company cut the cost by producing different products or services, this is called:

Economies of Scope

For a Pizza restaurant, getting Pizza in the hands of customer is part of its:

Key Activities

Which of the following is NOT an entrepreneur's role in the economy?

Entrepreneurs are popular figures

Using the other factors of production to provide goods and services to consumers is called:

Entrepreneurship

Key Activities should expand to what is necessary to achieve the Value Proposition

False

Which of the following are the CORRECT Economic Indicators?

Gross domestic product (GDP), Retail sales, Industrial production, Em- ployment Data, Consumer Price Index (CPI)

As an entrepreneur, you will assume different jobs at your company. As such, you are part of:

Human Resources

The Lean Start-up process includes:

Idea, Minimum Viable Product , Listening to customers

One of the following is NOT a concern when designing your value proposition?

Identify your supplier's main problem

Which of the following is NOT a benefit of a Key Partnership?

Increased Measure in Complexity

Intensive and Selective distribution are part of:

Indirect Distribution

One of the following is NOT part of the Business Cycle Phases:

Inflation

Customer Relationship is important because

It builds trust with customers

Which of the following is true when selecting your Key Partnerships?

They fit into your value proposition

Your company's logo is protected by:

Trademark

Coca-Cola products and Brand are protected by:

Trademarks and Trade Secret

The two types of Revenue Streams are:

Transaction-based and Recurring

A revenue stream is a critical part of the business model that influences strategy, business planning and investment.

True

Customer relationships impact your brand reputation and protentional

True

It costs more to get a new customer than it does to keep one

True

During economic contraction, all the following happen, EXCEPT:

Unemployment decreases

Delivering high quality services at low price is an example of:

Value Proposition

A cost structure that maximizes benefit for customers is:

Value driven

Paying for shipping cost is an example of:

Variable cost

What is the Equilibrium?

When supply and demand are balanced/equal

Indirect Channels comes with the following benefit

Wide range of customers to sell to

the condition of having to choose among alternatives

scarcity