In the Order of Entrepreneurial Activities,business Plans Come ______

question 28

Multiple Choice

In the order of entrepreneurial activities,business plans come ______.

• A)at the onset of the business idea
• B)after idea generation,business model canvas,feasibility study,and pitch deck
• C)after the business model but before the feasibility study
• D)after the business model but before the pitch deck

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Definitions:

Diminishing Marginal Utility

The principle that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Substitution Effect

The change in the quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs.