Which of the Following Is the Correct Sequence for the Four

question 23

Multiple Choice

Which of the following is the correct sequence for the four steps in the entrepreneurial process?

• A) Deciding to become an entrepreneur, developing successful business ideas, moving from an idea to an entrepreneurial firm, managing the growing entrepreneurial firm
• B) Developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, managing and growing the entrepreneurial firm
• C) Developing successful business ideas, moving from an idea to an entrepreneurial firm, deciding to become an entrepreneur, managing and growing the entrepreneurial firm
• D) Deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, developing successful business ideas, managing and growing the entrepreneurial firm
• E) Managing and growing the entrepreneurial firm, developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm

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Definitions:

Surplus

The situation in which the quantity supplied of a product exceeds the quantity demanded, often leading to price decreases.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers.

Price Floor

A minimum price set by the government for certain goods and services, intended to ensure fair conditions for producers.

Shortage

A situation where demand exceeds supply, often leading to rising prices and unmet consumer needs.