3.6 Review Questions
- What is entrepreneurial opportunity?
- What are five methods through which an entrepreneur can create new economic opportunities, according to Joseph Schumpeter?
- What are some factors that might indicate it is a good time to start a business?
- When should an entrepreneur explore opportunities?
- What should a potential entrepreneur research before starting a business?
- What kind of information is available in census data and how might that data be useful?
- Compare and contrast supply-based opportunities and demand-based opportunities.
- How can using a PEST analysis contribute to discovering new patterns of trends for recognizing entrepreneurial opportunities?
- What is a SWOT analysis and how is it useful?
- What is a unique selling proposition?
- What is a business model?
