01
True or false
1 point
True or false: A business is profitable as soon as its revenue exceeds the direct cost of delivering its offer, even if customer-acquisition costs and other costs remain.
Free Practice Quiz Question List
3 Business Models and Value Propositions Online Quiz Questions
Use this free practice quiz with 20 questions to review 3 Business Models and Value Propositions, test your knowledge, and prepare for your next test or exam.
20 questions
02
Fill in the blank
1 point
To develop a value proposition, identify customers’ , , and .
03
Fill in the blank
1 point
Complete the relationship between parts of a business model: The customer and offer shape the system, and that system affects costs and revenue.
04
True or false
1 point
True or false: A team’s belief that its offer fits customer needs is still a hypothesis until customer evidence supports it.
- A
True
- B
False
05
Written response
1 point
What is the business term for an explanation of whom an offer serves, which meaningful need it addresses, and why customers might prefer it to alternatives?
06
Written response
1 point
A venture assumes that a particular buyer will pay a specified fee for its offer. What key-assumption category is this?
07
Choose one
1 point
A meal service charges customers repeatedly for continuing access to its weekly offering. Which revenue model best describes this arrangement?
- A
One-time sale: customers pay once per product or service
- B
Subscription: customers pay repeatedly for ongoing access or service
- C
Usage-based: payment varies with consumption
- D
Advertising-supported: advertisers pay to reach an audience
08
Choose one
1 point
A meal-preparation business wants to state its value proposition for busy households. Which statement focuses most directly on customer outcomes rather than features or operations?
- A
A meal box contains six recipe cards and individually packed ingredients.
- B
Ready-to-cook meals save busy households planning time and help reduce food waste.
- C
The service operates a mobile ordering platform with a searchable menu.
- D
The kitchen uses a standardized process for assembling meal boxes.
09
Choose all
1 point
Which of the following are elements of the Business Model Canvas? Select all that apply.
- A
Channels
- B
Social-media mentions
- C
Key activities
- D
Key resources
- E
Key partners
- F
Competitor rankings
10
Choose all
1 point
When comparing revenue approaches, which questions define the revenue logic? Select all that apply.
- A
Who pays
- B
What they pay for
- C
When they pay
- D
How the amount is determined
- E
Which product color the team prefers
- F
How many competitors use a similar logo
11
Choose one
1 point
A business has settled on its customer segment and offer, but still needs to decide how the offer will reach customers. Which Business Model Canvas element should it work on?
- A
Revenue streams
- B
Customer relationships
- C
Channels
- D
Cost structure
12
Choose one
1 point
Which statement describes an acquisition assumption that a venture should make explicit and test?
- A
The team assumes its proposed meals will taste good.
- B
The team assumes it can reach and persuade enough customers without spending too much to acquire them.
- C
The team assumes the packaging color will be popular.
- D
The team assumes its founders can agree on a company name.
13
Open ended
1 point
A new marketplace plans to connect local cooks with households seeking convenient dinners. Identify two consequential assumptions this business model depends on, explain how the venture should decide which to test first, and propose practical tests for those assumptions.
14
Choose one
1 point
A meal-preparation startup wants to know whether busy households will pay for its service. Which test would provide the strongest evidence of that willingness to pay?
- A
Ask potential customers whether the team’s proposed wording sounds appealing.
- B
Run a pilot that asks customers to make a real purchase commitment.
- C
Ask the team to rank the features it considers most important.
- D
Estimate demand from the number of people who view a product description.
15
True or false
1 point
True or false: If a business earns revenue from each sale, it necessarily earns a profit on that sale.
- A
True
- B
False
16
Choose one
1 point
A software business charges customers repeatedly for continued access to its service. Which revenue approach best describes this model?
- A
One-time sale, because each purchase automatically guarantees recurring revenue.
- B
Usage-based, because the business charges the same amount regardless of consumption.
- C
Subscription, because customers pay repeatedly for ongoing access or service.
- D
Advertising-supported, because advertisers pay per product delivered to each customer.
17
Written response
1 point
A household wants to get dinner on the table quickly on weeknights. In the value proposition framework, what category describes this goal?
18
Choose one
1 point
A business promises low prices and personal service but plans for very little staff time or support cost. What is the main concern with this model?
- A
The delivery and cost assumptions may not support the promised customer experience.
- B
The business must use an advertising-supported revenue model.
- C
The customer segment is necessarily too broad to define.
- D
Personal service cannot be included in a value proposition.
19
Choose one
1 point
A founder is explaining what makes a proposed business model more complete than a product idea. Which description best captures the difference?
- A
It identifies the product features without considering who pays or how the offer is delivered.
- B
It estimates sales while leaving delivery activities and costs outside the plan.
- C
It lists customer preferences but treats revenue and costs as unrelated.
- D
It connects the offer to customers, delivery work, revenues, and costs.
20
Written response
1 point
A customer says they are interested in a new service. What kind of commitment does the material identify as stronger evidence of demand than that expression of interest?