Read each sentence carefully and write TRUE if the statement is correct and write FALSE if the statement is not correct. 1. New business ideas provide business opportunities. 2. The entrepreneurial process starts with identification of entrepreneurial opportunities. 3. Discovery and advancement in the use of technology are additional good sources of business opportunities. 4. Interest and hobbies of the people are possible good sources of entrepreneurial ideas. 5. An entrepreneur enters a business because of its profitability.
Answer (1)
Let's evaluate each statement to determine if it's TRUE or FALSE:
New business ideas provide business opportunities.
TRUE: New business ideas can indeed provide business opportunities as they offer innovative solutions or products that can meet consumer needs or fill gaps in the market.
The entrepreneurial process starts with the identification of entrepreneurial opportunities.
TRUE: The entrepreneurial process typically begins with identifying potential opportunities, which involves recognizing unmet needs or new market possibilities.
Discovery and advancement in the use of technology are additional good sources of business opportunities.
TRUE: Technological advancements and discoveries can open up new avenues for business by introducing revolutionary products or enhancing existing services and processes.
Interest and hobbies of the people are possible good sources of entrepreneurial ideas.
TRUE: An entrepreneur's interests and hobbies can inspire creative business ideas, as personal passion often drives innovation and unique product development.
An entrepreneur enters a business because of its profitability.
TRUE: While there are various motivations for starting a business, profitability is a key factor that attracts entrepreneurs, as business success is often measured by financial gain.
In summary, all the statements provided are TRUE as they accurately describe factors and ideas related to entrepreneurship and business opportunities.
