Which of the Following Is a Major Consideration in Selecting

question 109

Multiple Choice

Which of the following is a major consideration in selecting a business idea?

• A) Make sure no company is currently offering the product/service.
• B) Select something that appeals to people around the globe.
• C) Find something you love to do and are good at doing.
• D) Choose a product/service that is inexpensive to sell.

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Definitions:

Finished Goods Inventory

Products that have completed the manufacturing process but have not been sold or distributed to customers yet.

Specialized Electrical Switches

Custom or bespoke electrical switches designed for specific purposes, often requiring detailed engineering and manufacturing processes.

Production

The process of creating goods and services from various resources, including labor, raw materials, and machinery.

Selling Expense Budget

An estimated projection of all costs associated with the selling activities of a business for a specific period.