Question 29 (1.5 points)

Recognizing how different, separate things can fit together in producing an opportunity is called _________.

Question 29 options:

	Synthesis
	Design thinking
	Co-creation
	Pattern recognition

Question 30 (1.5 points)

All of the following characteristics are essential for a situation to provide an opportunity involving a product or service, except for ___, which is NOT essential.

Question 30 options:

	People will continue to need the product or service, providing the chance to resell and sustain itself as a business
	The potential customers will desire the product or service because of the gains they will receive from it
	It is a new market space that allows success without direct competition
	Enough people will understand the product or service offered and need it at the time

Question 31 (1.5 points)

Yasmin is working on her business model generation using a business model canvas. She is out doing active customer development with her new product, a seat warmer and warning device for falling asleep that can be hung over the headrest of a seat and plugged into the lighter port in a car, providing heated seats that beep if you don't change position within a specified time period to keep you from falling asleep. If she wants to achieve the greatest potential for scaling, she must make sure all of the following except:

Question 31 options:

	She needs to attract early angel investors to attain greater market credibility
	Make sure that she can continue to produce the seat warmer/sleep warning device at the same price or cheaper and with the same quality with increased volume
	Provide a solid training process that consistently trains the sales staff
	Make sure that she can market it using the same distribution system and advertising as she grows

Question 32 (1.5 points)

Wilma has developed a breakfast catering service that wants to start working with local companies, providing them with unique offerings using non-GMO, organic ingredients as well as servers to serve the breakfasts at more formal meetings. Wilma has tested and developed her menu and is now going out to a few interested companies and is negotiating price with them and working with them to determine the best method for ordering, delivery, payment, and customer feedback. This means Wilma is probably in the _______.

Question 32 options:

	Customer validation stage of customer development
	Initial branding phase for her market offering
	Company building stage of customer development
	Customer discovery stage of customer development

Question 33 (1.5 points)

Yesica recognizes that the attention-span of Gen Z has decreased and that advertising necessitates punchy, surprising ways of getting attention, so she considers using memes within her advertising on platforms like TikTok. This is an example of a _____.

Question 33 options:

	Technological macro-environmental factor
	Cross-impact socio-technological macro-environmental factor
	Driving force within her industry
	Sociological macro-environmental factor

Question 34 (1.5 points)

The concept of an entrepreneur as someone who takes it upon themselves to produce something of value within a market, when there are many unknowns, and thus, if successful, gain the reward in the form of profits is a concept developed by:

Question 34 options:

	Sarah Sarasvathy
	Alexander Osterwalder
	Frank Knight
	Israel Kirzner

Question 35 (1.5 points)

The mental estimation of all the gains that someone gets that are associated with a product or service, or group of them, compared to what they have to pay, is called the:

Question 35 options:

	Benefit assessment
	Perceived value
	Decision-making model
	Consumer-analysis process