Quiz: Needs, Wants and Business Opportunities
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Building on what you've learned about enterprise and SMEs, let's test your understanding of needs, wants, and business opportunities!
Which of the following is an example of a 'need'?
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Which of the following are examples of 'wants'? (Select all that apply)
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A business opportunity arises when a company identifies a gap between what customers {{blank0}} and what is currently {{blank1}}.
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Match the items on the left with their correct pairs on the right
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Why is identifying a gap in the market important for entrepreneurs?
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Which of the following are characteristics of a good business opportunity? (Select all that apply)
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Entrepreneurs often use {{blank0}} to understand customer needs and wants and identify business opportunities.
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If a product is sold for £20 and the cost to produce it is £12, what is the profit per unit?
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Match the items on the left with their correct pairs on the right
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