An Example of an Idea for a New Startup from a Hobby

question 18

Multiple Choice

An example of an idea for a new startup from a hobby is

• A)a coin collector,who bought and sold coins for years to build a personal collection,deciding to become a coin dealer.
• B)a furniture salesperson seeing the possibility of opening a new furniture store in a different area of the city.
• C)a sharpshooter,who shot holes in a pair of her boyfriend's jeans during an argument,hearing him get complimented on the way they look.
• D)all of the above are examples.

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Definitions:

Marginal Utility

The additional satisfaction or benefit gained from consuming or using one more unit of a good or service.

Deserted Island

An uninhabited or sparsely populated island often used in economic theories and thought experiments to illustrate principles of survival, scarcity, and choice.

Consumer Preference

Consumer preference refers to the subjective tastes and choices of individuals regarding different goods and services, influenced by factors such as price, quality, and personal tastes.

Indifference Curves

Graphical representations in economics that show different combinations of two goods that provide equal satisfaction and utility to a consumer.