Describe an entrepreneurial opportunity
Course:- Business Economics
Reference No.:- EM13891911

Assignment Help
Assignment Help >> Business Economics

Entrepreneurs see an opportunity where others see obstacles. A recession is a great example. Recession means unemployment, difficulty paying bills, fewer customers, home and business foreclosures, and cost cutting in different areas for individuals and businesses. These are the negative consequences of recession.

However, even during a recession, the opportunities are endless. The business ideas are just different from those in economic boom times.

Select one or a combination of the negative consequences of recession and answer the following related questions:

Describe an entrepreneurial opportunity that would be beneficial to both the entrepreneur and those negatively affected by the consequence of recession.

Provide the basic product or service description and clearly define the benefits.

What would your strategy be to attract potential customers for this idea?

How would you try to secure funding for this business? Do you believe it would be more difficult considering it focuses on a struggling component of the economy? Justify your answer with examples and reasoning.

Support your responses with examples.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Why do you think the federal government gets involved in guaranteeing small business loans? Do you agree or disagree with this policy position? Why or why not? What are the po
Suppose you are assigned the task of drafting a law to impose a tax on smoke emissions. What provisions would you put into the law? How would you decide the size of the tax? W
DQ #1: What would be a situation in your personal or professional life in which you use or could use marginal analysis to make a decision? How do you determine the marginal
If the marginal product of capital is twice the marginal product of labor and the price of a unit of labor is $4, illustrate what must be the price of a unit of capital.
Assume that fiat money and capital are perfect substitutes as assets and that individuals wish to hold the one with a higher rate of return, but that it takes time to adjust c
Suppose Ann’s utility function is defined as: u(c) = ln(c) . For her birthday, Ann’s father offers her the choice of either a lottery ticket that is worth $1 with probability
During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the intention of dropping large quantities by airpla
Suppose that a firm’s production function is given by Q = KL + K. At point A, the firm uses K= 3 units of capital and L = 5 units of labor. At point B, along the same isoquant