Evaluating Business Ideas (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a feasibility study?
What is a feasibility study?
A systematic investigation of viability
How many critical questions must feasibility studies answer with confidence?
How many critical questions must feasibility studies answer with confidence?
Three questions
What is a prototype?
What is a prototype?
A first mock-up or sample of the product
Which three characteristics must successful products have?
Which three characteristics must successful products have?
Desirable, feasible, and viable
Which of these is a fixed cost?
Which of these is a fixed cost?
Rent
When should feasibility studies be conducted?
When should feasibility studies be conducted?
Before creating a business plan
What does production feasibility examine?
What does production feasibility examine?
Practical aspects of creating the product
Which costs change with production levels?
Which costs change with production levels?
Variable costs
What benefit involves identifying problems early in development?
What benefit involves identifying problems early in development?
Risk reduction
What can feasibility studies reveal during evaluation?
What can feasibility studies reveal during evaluation?
Alternative solutions more viable