FASHION ENTREPRENEURSHIP EXAM 1 QUESTIONS |
TESTED AND PROVEN ANSWERS | LATEST UPDATE
2024/2025 100% (GRADE A+)
Ntiaki has assessed both his personal and business skills and has determined he wants to open his
own fashion retail business. He determines it is time tot develop his concept statement. He knows
that a requirement of a good concept statement is
-there must be a group of customers willing to purchase the product or product lines featured by
the business at the price offered
-the market must be large enough to support the business and generate profit
-the entrepreneur must be able to differentiate his or her business from that the competition
-the entrepreneur must be able to finance the business- either personally or through funding
sources
Ans>> all answers are correct
An intraprenuer is an entrepreneur within a large firm, who uses entrepreneurial skills without
incurring the risks associated with those activities
Ans>> True
1
, Alexandra is ready to turn her dream of starting a fashion retail business into a reality. To begin
the business process, Alexandra need to
Ans>> analyze her personal traits, skills, and vision
The purpose of the business planning process it to
Ans>> inveterate all aspects of a potential business and lead the entrepreneur in the desired
direction
Entrepreneurs can be defined as people who
Ans>> all answers are correct
-recognize an opportunity by identifying an unmet need or want in the marketplace and then
developing a product or service that meets that need or want
-verify that others are willing to pay for the product or service, accept calculated risk in the hope
of creating value
Mary has decided to move forward with her concept for a fashion retail business and to develop
a business plan around her concept. She recognizes the business plan is important to
Ans>> all of these are important choices to a business plan
2
TESTED AND PROVEN ANSWERS | LATEST UPDATE
2024/2025 100% (GRADE A+)
Ntiaki has assessed both his personal and business skills and has determined he wants to open his
own fashion retail business. He determines it is time tot develop his concept statement. He knows
that a requirement of a good concept statement is
-there must be a group of customers willing to purchase the product or product lines featured by
the business at the price offered
-the market must be large enough to support the business and generate profit
-the entrepreneur must be able to differentiate his or her business from that the competition
-the entrepreneur must be able to finance the business- either personally or through funding
sources
Ans>> all answers are correct
An intraprenuer is an entrepreneur within a large firm, who uses entrepreneurial skills without
incurring the risks associated with those activities
Ans>> True
1
, Alexandra is ready to turn her dream of starting a fashion retail business into a reality. To begin
the business process, Alexandra need to
Ans>> analyze her personal traits, skills, and vision
The purpose of the business planning process it to
Ans>> inveterate all aspects of a potential business and lead the entrepreneur in the desired
direction
Entrepreneurs can be defined as people who
Ans>> all answers are correct
-recognize an opportunity by identifying an unmet need or want in the marketplace and then
developing a product or service that meets that need or want
-verify that others are willing to pay for the product or service, accept calculated risk in the hope
of creating value
Mary has decided to move forward with her concept for a fashion retail business and to develop
a business plan around her concept. She recognizes the business plan is important to
Ans>> all of these are important choices to a business plan
2
