A Business Model

question 23

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,a cost structure,and key resource requirements.
• D)forces the entrepreneur to be more disciplined about financial projections.

---

Definitions:

Olfaction

The sense of smell, a chemical sensing system that allows the detection of volatile substances in the environment.

Gustation

The sense of taste, which is one of the five sensory systems and is initiated by flavor compounds stimulating the taste buds on the tongue.

Chemical Senses

Sense modalities including taste and smell, which involve the detection of chemicals in the environment and play a critical role in the experiences of flavor and scent.

Gestalt Principle

A concept in psychology that proposes the mind integrates patterns and objects into whole forms rather than perceiving the parts separately.