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!
What is the definition of a 'need' in business terms?
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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 there is unmet {{blank0}} or {{blank1}} in the market.
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Match the items on the left with their correct pairs on the right
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Which of the following represents a business opportunity?
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What factors help a business identify customer needs? (Select all that apply)
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If a business identifies 10 people who need a product, and each person is willing to pay £15, what is the total revenue potential?
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Match the items on the left with their correct pairs on the right
Which of the following is an example of identifying a business opportunity?
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Businesses can use {{blank0}} to identify gaps in the market and develop new {{blank1}} that meet customer needs.
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