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The Process in Which Entrepreneurs Test Their Business Models on a Small

question 95

Multiple Choice

The process in which entrepreneurs test their business models on a small scale before committing serious resources to launch a business that might not work is known as ________.


Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.

Indelible Memories

Memories that are so vivid and clear that they seem impossible to forget, often due to their emotional intensity.

Terrorist Tragedy

A devastating event caused by acts of terrorism, leading to loss of life, injury, and psychological trauma among individuals and communities.

Statistically

Pertains to or based on the principles of statistics, often used in analysis to represent data or trends numerically.

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