Asked by Atlas Walton on Feb 18, 2024
Verified
Opportunity is defined as ______.
A) the worth of something in terms of the number of other things for which it can be exchanged
B) any conception,thought,or notion existing in the mind as a result of mental understanding and awareness
C) being perceived as desirable
D) an apparent way of generating value through unique,novel,or desirable products or services that have not been previously exploited
Opportunity
A way of generating profit through unique, novel, or desirable products or services that have not been previously exploited.
- Understanding the concept of opportunity as the worth of something in terms of exchange value.
- Recognizing the role of mental understanding and awareness in the formation of opportunities.
- Identifying the perception of desirability as a defining characteristic of opportunities.
Verified Answer
TE
Taliyah EssenceFeb 18, 2024
Final Answer :
D
Explanation :
Opportunity is often associated with a business concept of identifying a potential market gap or need and coming up with a unique or novel solution to address it. Therefore, option D, which describes an apparent way of generating value through unique, novel, or desirable products or services that have not been previously exploited, best defines opportunity. The other options are either defining value or abstract concepts like conception and perception.
Learning Objectives
- Understanding the concept of opportunity as the worth of something in terms of exchange value.
- Recognizing the role of mental understanding and awareness in the formation of opportunities.
- Identifying the perception of desirability as a defining characteristic of opportunities.
Related questions
What Term Do the Authors Use to Describe the Ability ...
The Opportunity Cost of Holding Money Increases When ...
Typically,entrepreneurs Go Through Three Processes Before They Are Able to ...
According to the Text,seeing an Opportunity Is One of the ...
Improvisation Is Connected to the Entrepreneurial Mindset Because It Helps ...