- 1. Ideation is the process of generating and developing ideas that may become business opportunities
A) TRUE
B) FALSE
C) OR WHAT
- 2. Improving an existing product cannot be considered innovation because innovation requires creating something completely new.
A) TRUE
B) FALSE
C) OR WHAT
- 3. Maria notices that students have difficulty finding affordable meals at school. She thinks of selling budget-friendly meals. What ideation strategy does she use?
A) Observe trends
B) Improve existing products
C) Brainstorming
D) Identify problems
- 4. Many students are becoming interested in eco-friendly products. An entrepreneur notices this and plans to sell reusable bags. What strategy is being used?
A) Observe trends
B) Brainstorming
C) Identify problems
D) Use personal experience
- 5. What is opportunity identification?
A) The process of recognizing a problem, need, or gap that can become a business opportunity
B) The process of copying another business
C) The process of choosing a business name
D) The process of recognizing a problem, need, or gap that can become a business opportunity
- 6. What is the difference between an idea and an opportunity?
A) An idea requires customers, while an opportunity does not.
B) An idea and an opportunity have exactly the same meaning.
C) An idea always earns money, while an opportunity does not.
D) An idea is a possible business concept, while an opportunity addresses a real need and has market potential.
- 7. In the school snacks example, offering affordable ready-to-eat snacks is a possible business solution.
A) TRUE
B) FALSE
C) OR WHAT
- 8. Entrepreneurs do not need to consider whether customers are willing to pay for their products or services.
A) OR WHAT
B) TRUE
C) FALSE
- 9. Ideas germination is the process where a simple idea slowly develops and becomes concrete business concept.
A) TRUE
B) FALSE
C) OR WHAT
- 10. Which of the following refers to collecting information about customers, competitors, prices, and market needs?
A) Observation
B) Brainstorming
C) Research
D) Experimentation
- 11. Maria notices that students in her school often look for affordable snacks during break time. She thinks of selling homemade sandwiches to them. What step of ideas germination did Maria demonstrate when she noticed the students' needs?
A) Observation
B) Feedback
C) Experimentation
D) Research
- 12. Juan wants to start selling homemade banana chips in their barangay. Instead of spending all his savings immediately, he makes a small batch and asks his neighbors to try it. What step of ideas germination is Juan demonstrating?
A) Observation
B) Experimentation
C) Brainstorming
D) Experience
- 13. Product innovation only happens when a completely new product is invented.
A) OR WHAT
B) FALSE
C) TRUE
- 14. Product innovation can involve improving a product that already exists.
A) FALSE
B) OR WHAT
C) TRUE
- 15. What is the main purpose of product innovation?
A) To stop selling existing products
B) To provide greater value to customers
C) To make products harder to use
D) To make products more expensive
- 16. Which of the following is an example of product innovation?
A) Selling an ordinary notebook without changes
B) Keeping a broken product as it is
C) Adding a pocket to a notebook to make it more useful
D) Removing useful parts from a water bottle
- 17. Entrepreneurs should try to sell their products to everyone instead of focusing on a specific group.
A) FALSE
B) OR WHAT
C) TRUE
- 18. Why is identifying a niche important?
A) To avoid advertising
B) To ignore customers' needs
C) To understand customers better
D) To copy competitors
- 19. Which is an example of a niche business?
A) A shop that sells school supplies for students
B) A company that does not have target customers
C) A business that ignores customer preferences
D) A shop that sells school supplies for students
- 20. How can a niche help a business stand out from competitors?
A) By avoiding marketing strategies
B) By selling products without a plan
C) By offering something special or different
D) By ignoring customers
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