Entrepreneurs _____________

question 49

Multiple Choice

Entrepreneurs _____________.

• A)Turn resources into a new line within a larger business
• B)Think the same about economic opportunity from non-entrepreneurs
• C)Identify evaluate,and exploit opportunities
• D)Open franchisees

---

Definitions:

Potential Competitors

Potential competitors are businesses or entities not currently in a market but have the capability and interest to enter the market and compete for the same customer base.

Price-sensitive

Describes consumers or markets that are highly responsive to changes in price, where price changes can significantly impact demand.

Customer Service

Activities and support provided by a company to its customers before, during, and after a purchase to enhance satisfaction and loyalty.

Consumer Income

The total amount of income available to an individual or household for spending, saving, or investment after taxes.