{"id":5179,"date":"2023-02-22T21:06:44","date_gmt":"2023-02-22T21:06:44","guid":{"rendered":"https:\/\/course.oeru.org\/ient101\/?page_id=5179"},"modified":"2023-02-22T21:06:44","modified_gmt":"2023-02-22T21:06:44","slug":"quiz","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ient101\/learning-pathways\/before-starting-your-own-business\/quiz\/","title":{"rendered":"Quiz"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\n<\/p>\n<div class=\"floatright\"><a href=\"https:\/\/wikieducator.org\/File:Test_sign.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Test sign.jpg\" src=\"\/\/wikieducator.org\/images\/thumb\/e\/eb\/Test_sign.jpg\/320px-Test_sign.jpg\" width=\"320\" height=\"226\" class=\"img-responsive\"><\/a><\/div>\n<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: <i>Before starting your own business<\/i>.<\/p>\n<p>The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the <i>Introduction to entrepreneurship<\/i> (IENT101) micro-course. Please consult the <a href=\"https:\/\/wikieducator.org\/Introduction_to_entrepreneurship\/IENT101\/Assessment\/Certify_participation\" title=\"Introduction to entrepreneurship\/IENT101\/Assessment\/Certify participation\">Certify participation page<\/a> for more information.<br style=\"clear:both;\">\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>True - false questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<p>Indicate whether the following statements are true or false:\n<\/p>\n<ul>\n<li>Before starting your own business, you should conduct market research to test your ideas.\n<ul>\n<li>True\n<ul>\n<li>Yes, that\u2019s right.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Incorrect. Review the learning materials again to find out why market research is important.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>You need to register any new business with your national tax office.\n<ul>\n<li>True\n<ul>\n<li>Well done.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Incorrect.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>The business structure you choose has no legal implications.\n<ul>\n<li>True\n<ul>\n<li>No, the statement is false &#8211; check the learning materials on forms of business again to see why it makes a difference.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>That\u2019s right &#8211; the statement is false.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>You can use any business name, as long as no-one else in the same geographical location is using the same name.\n<ul>\n<li>True\n<ul>\n<li>No, this statement is false.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>You\u2019re right &#8211; this statement is false.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice WEquizMix\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Multiple choice questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<ul>\n<li>In the context of this IENT101 course, which ONE of the following is the best definition of \u2018market analysis\u2019?\n<ul>\n<li>Information about targeted consumers, both existing and potential\n<ul>\n<li>No, this information would be part of market intelligence.\n<\/li>\n<\/ul>\n<\/li>\n<li>An analysis of the financial markets at any given point in time\n<ul>\n<li>No, try again.\n<\/li>\n<\/ul>\n<\/li>\n<li>Another name for the \u2018marketing mix\u2019, which looks at Product, Place, Price, and Promotion\n<ul>\n<li>No, the marketing mix is an important concept, but market analysis is broader than this.\n<\/li>\n<\/ul>\n<\/li>\n<li>An umbrella term covering all aspects of exploring a particular industry at a strategic level\n<ul>\n<li>Yes, that\u2019s right. This can include factors like trends, market size, competitive environment, and profitability, among others.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>In the context of this IENT101 course, \u2018market research\u2019 does NOT include which ONE of the following concepts?\n<ul>\n<li>Target market\n<ul>\n<li>This would be covered by market research.\n<\/li>\n<\/ul>\n<\/li>\n<li>Innovation strategy\n<ul>\n<li>Correct. This would be considered part of planning and running a business, not market research.\n<\/li>\n<\/ul>\n<\/li>\n<li>Market size\n<ul>\n<li>This would be covered by market research.\n<\/li>\n<\/ul>\n<\/li>\n<li>Segmentation\n<ul>\n<li>Looking at market segmentation is part of market research.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Indicate which ONE of the following statements about competitive intelligence is FALSE:\n<ul>\n<li>The aim of competitive intelligence is to understand your competitors\n<ul>\n<li>This is true.\n<\/li>\n<\/ul>\n<\/li>\n<li>Competitive intelligence is key to understanding how your competitors attract and\/or keep their customers\n<ul>\n<li>This is true.\n<\/li>\n<\/ul>\n<\/li>\n<li>Competitive intelligence aims to promote networking with other businesses in the same industry\n<ul>\n<li>You\u2019re right! This is FALSE. Competitive intelligence is not primarily about networking.\n<\/li>\n<\/ul>\n<\/li>\n<li>Competitive intelligence can help you to predict the future actions of your competitors\n<ul>\n<li>This is true.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Due diligence is:\n<ul>\n<li>a recent concept\n<ul>\n<li>No &#8211; the concept was first used in the fifteenth century.\n<\/li>\n<\/ul>\n<\/li>\n<li>basically the process of checking that information is correct\n<ul>\n<li>That\u2019s right. It is essentially about verifying information.\n<\/li>\n<\/ul>\n<\/li>\n<li>not required for investing in an established company\n<ul>\n<li>No, just because a company is well-established, doesn\u2019t mean that potential investors should trust all the information they are given.\n<\/li>\n<\/ul>\n<\/li>\n<li>an extremely complex process\n<ul>\n<li>No, this is a common misconception. Carrying out due diligence is not a complicated process.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.053 seconds\nReal time usage: 0.059 seconds\nPreprocessor visited node count: 280\/1000000\nPreprocessor generated node count: 1206\/1000000\nPost\u2010expand include size: 24982\/2097152 bytes\nTemplate argument size: 16654\/2097152 bytes\nHighest expansion depth: 10\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:185306-0!*!0!*!*!2!* and timestamp 20230222110634 and revision id 1065281\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ient101\/learning-pathways\/before-starting-your-own-business\/outputs-market-research-challenge\">\u2190 Previous<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_entrepreneurship\/IENT101\/Before\/Quiz\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"6d7a41580819dd01697aa5ed88dd6c40\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_entrepreneurship\/IENT101\/Before\/Quiz\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"6d7a41580819dd01697aa5ed88dd6c40\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: Before starting your own business. The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Introduction to entrepreneurship [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5155,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5179","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/comments?post=5179"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5179\/revisions"}],"predecessor-version":[{"id":5180,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5179\/revisions\/5180"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5155"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/media?parent=5179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}