A Business Model

question 51

Multiple Choice

A business model

• A) is only important for startups with a large amount of uncertainty.
• B) is intended to provide evidence on whether a concept is viable, not if it can be profitable.
• C) is made up of a revenue model, cost structures, and required resources to grow the business.
• D) forces the entrepreneur to be more disciplined about financial projections.

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Definitions:

Uniform Computer Information Transactions Act

A proposed state law aimed at standardizing the rules and regulations governing the sale and leasing of computer information, software, and digital material across the United States.

Reverse Engineering

The process of analyzing a product's system, components, and functionalities to duplicate or enhance the product without direct access to its original design information.

Shrinkwrap Licenses

Legal agreements included within the packaging of software products, which become binding once the packaging is opened.

Consumer Warranties

Legal guarantees provided to consumers that a product will meet certain quality and reliability standards, and that defective items will be repaired or replaced.