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Course Final Exam

How can supply and demand be used to identify new entrepreneurial opportunities in accordance with Schumpeter's theory and the definition of entrepreneurial opportunity?

Demand tells you how large the market is and whether there are enough suppliers in the market to satisfy the demand.

Supply determines whether the market can handle a new supplier and demand tells you how many potential consumers there are in the market.

Demand tells you whether you should provide a good or service and what the supply should be to disrupt the market.

Supply tells you how saturated the market is and whether a new use of a product or reduced costs of the product would meet the demand of consumers.