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19. These factors are the characteristics of the 26. Which of the following is the framework that
people in the target market. most of the promising entrepreneurs use to
A. Socio-cultural factors finally come up with the ultimate product or
B. Environmental factors service suited for a specific opportunity?
C. Economic factors A. 4s of opportunity spotting and assessment
D. Demographic factors B. 3s of opportunity spotting and assessment
C. Entrepreneurial process
20. These factors should be given much D. Seeking opportunity
importance in conducting a business 27. The following are components of
especially when the world has already suffered developing a business plan EXCEPT for?
severely from human-induced calamities. A. Perform industry analysis
A. Environmental factors B. Come up with a business description and
B. Economic factors analysis
C. Ethical factors C. Come up with the marketing plan.
D. Demographic factors D. Recognize critical success factors
28. Which of the following is an example of
economic factors?
A. Inflation rates
B. Climate change
C. Basic infrastructure level
D. Population growth rate