2.04 Feasibility Study Question Preview (ID: 62337)


You Will Be Able To Answer These Questions Once Completed • What Is The Purpose Of A Feasibility Study? • What Benefits Are Derived From A Feasibility Study? • When Should A Feasibility Study Not Be Conducted? TEACHERS: click here for quick copy question ID numbers.

Feasibility studies can prevent businesses from wasting valuable time and resources on unfeasible (difficult, impractical, or impossible) ideas.
a) True
b) False
c)
d)

The purpose of a feasibility study is to determine whether or not a particular venture can succeed
a) True
b) False
c)
d)

Feasibility studies can shed light on the optimum timing for business ventures to take place.
a) True- what’s unfeasible this spring might be an excellent project for next fall.
b) False- it has to happen immediately
c)
d)

Feasibility studies can be very time-consuming and inexpensive.
a) True
b) False
c)
d)

There are 8 steps to a feasibility study
a) True
b) False
c)
d)

A well-executed feasibility study is: 1. Organized 2. Articulate (clearly expressed) 3. Focused 4. Flexible 5. Timely 6. Reliable
a) True
b) False
c)
d)

Startup costs might include the purchase of land, buildings, equipment, tools, licenses, permits, initial promotion, etc.
a) True
b) False
c)
d)

Using the U.S. Small Business Administration is a good source to aid in your market analysis
a) True
b) False
c)
d)

Market analysis is defined as:
a) The physical and social characteristics of the population
b) A systematic study of the market
c)
d)

When using a market analysis you should include the following: 1. A current description of the industry a. How big is the industry? b. Whom does the industry serve? c. What are some current trends within the industry? d. What are the main metho
a) True
b) False
c)
d)

____is an organized inquiry into the possible success of a business idea or venture
a) Bias
b) Feasibility study
c)
d)

To say 'We plan to open a new bakery in Springfield' is a good way to write a description of the proposed project or venture.
a) True
b) False
c)
d)

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