Home
Current Affairs January 2024

What is the correct answer?

4

What is the term for the process of introducing a new product or service to the market?

A. Market entry

B. Product launch

C. Market expansion

D. Market penetration

Correct Answer :

B. Product launch


Related Questions

What is the correct answer?

4

What is the term for the process of determining the worth of a business or an asset?

A. Valuation

B. Appraisal

C. Pricing

D. Estimation

What is the correct answer?

4

What is a cash flow statement used for in business finance?

A. Tracking money spent on marketing

B. Analyzing the movement of money in and out of a business

C. Calculating the net worth of a business

D. Estimating future sales revenue

What is the correct answer?

4

Which stage of the entrepreneurial process involves turning an idea into a tangible product or service?

A. Opportunity recognition

B. Idea generation

C. Product development

D. Market entry

What is the correct answer?

4

Which of the following is an example of a microenterprise?

A. A multinational corporation

B. A small family-owned bakery

C. A government agency

D. A non-profit organization

What is the correct answer?

4

What is a unique selling proposition (USP) in marketing?

A. A strategy for selling products at a higher price

B. A distinctive feature or benefit that sets a product apart from competitors

C. The process of selling products to unique customer segments

D. A pricing strategy for premium products

What is the correct answer?

4

Which legal form of business provides the most personal liability protection for its owners?

A. Sole proprietorship

B. Partnership

C. Limited liability company (LLC)

D. Corporation

What is the correct answer?

4

What is the term for a person who provides financial backing for a startup in exchange for ownership equity or debt?

A. Mentor

B. Investor

C. Co-founder

D. Partner

What is the correct answer?

4

What is the term for a legal document that outlines the rights and responsibilities of partners in a business venture?

A. Business plan

B. Partnership agreement

C. Memorandum of understanding (MOU)

D. Articles of incorporation

What is the correct answer?

4

What is the term for a legal form of business in which there is one owner who has unlimited personal liability?

A. Corporation

B. Partnership

C. Sole proprietorship

D. Limited liability company (LLC)

What is the correct answer?

4

What type of innovation involves creating entirely new products or processes that disrupt existing markets?

A. Incremental

B. Disruptive

C. Breakthrough

D. Radical

What is the correct answer?

4

What is the term for the total market value of all goods and services produced by a country in a given period?

A. Gross Domestic Product (GDP)

B. Net Profit Margin

C. Return on Investment (ROI)

D. Cost of Goods Sold (COGS)

What is the correct answer?

4

What is the term for a group of individuals who work together to develop and launch a business venture?

A. Syndicate

B. Cooperative

C. Consortium

D. Team

What is the correct answer?

4

What does MVP stand for in the context of startups?

A. Most Valuable Player

B. Minimum Viable Product

C. Most Valuable Product

D. Minimum Valuable Player

What is the correct answer?

4

What is the term for the process of gathering information about potential customers and their preferences?

A. Market research

B. Customer segmentation

C. Product development

D. Competitive analysis

What is the correct answer?

4

What is the term for the process of finding, attracting, and hiring new employees for a business?

A. Recruitment

B. Training

C. Onboarding

D. Human resources management

What is the correct answer?

4

Which of the following is NOT a stage in the product development process?

A. Conceptualization and ideation

B. Market research

C. Manufacturing

D. Post-launch evaluation

What is the correct answer?

4

What type of entrepreneur is characterized by starting multiple businesses over their career?

A. Serial entrepreneur

B. Social entrepreneur

C. Lifestyle entrepreneur

D. Corporate entrepreneur

What is the correct answer?

4

What is the term for the process of studying and analyzing the external environment to identify business opportunities and threats?

A. Market research

B. Environmental scanning

C. Competitive analysis

D. SWOT analysis

What is the correct answer?

4

What is a business model?

A. A visual representation of a company's structure

B. The way a company creates, delivers, and captures value

C. A list of all the employees in a company

D. The physical location of a business

What is the correct answer?

4

What is the term for the process of determining the price at which a product or service will be sold to customers?

A. Cost analysis

B. Pricing strategy

C. Market segmentation

D. Revenue forecasting

What is the correct answer?

4

What is the term for a legally recognized entity that separates the personal assets of the owners from the business assets?

A. Sole proprietorship

B. Partnership

C. Limited liability company (LLC)

D. Corporation

What is the correct answer?

4

What is the term for a legal form of business where the owner has limited liability?

A. Sole proprietorship

B. Partnership

C. Corporation

D. Limited liability partnership

What is the correct answer?

4

Which of the following is NOT a common characteristic of an entrepreneurial mindset?

A. Risk aversion

B. Creativity

C. Resilience

D. Adaptability

What is the correct answer?

4

Which type of innovation involves making significant improvements to existing products or processes?

A. Disruptive

B. Incremental

C. Breakthrough

D. Radical

What is the correct answer?

4

What is the process of generating, developing, and communicating new ideas for business development called?

A. Market research

B. Product development

C. Innovation

D. Business planning

What is the correct answer?

4

Which of the following is NOT a key characteristic of a successful entrepreneur?

A. Perseverance

B. Creativity

C. Risk aversion

D. Adaptability

What is the correct answer?

4

What is the term for the process of introducing a new product or service to the market?

A. Market entry

B. Product launch

C. Market expansion

D. Market penetration

What is the correct answer?

4

What is a SWOT analysis used for in entrepreneurship?

A. Evaluating internal and external factors influencing a business

B. Identifying potential customers

C. Calculating financial projections

D. Assessing employee performance

What is the correct answer?

4

What is the term for the process of seeking and obtaining financial backing for a business venture?

A. Funding procurement

B. Capital acquisition

C. Financing

D. Fundraising

What is the correct answer?

4

Which type of entrepreneurship involves creating and operating a business primarily for the lifestyle benefits it provides to the owner?

A. Serial entrepreneurship

B. Social entrepreneurship

C. Lifestyle entrepreneurship

D. Corporate entrepreneurship