ENT 101 INTRODUCTION TO ENTREPRENEURSHIP
WEEK 2 QUIZ 2026/2027 | Toronto Metropolitan
University | Ted Rogers School of Management | Pass
Guaranteed - A+ Graded
Section 1: Opportunity Recognition & Ideation (Q1-10)
Q1. A TMU student notices that a new Ontario building code regulation will require
all new residential construction to include EV-ready wiring by 2027. The student
considers launching an electrical contracting service focused on retrofits. This
opportunity is best classified as arising from:
A. A demographic trend
B. A technological discontinuity
C. A regulatory change
D. A supply chain inefficiency
Correct Answer: C. A regulatory change [CORRECT]
Rationale: Regulatory changes create mandatory new demand and alter industry
economics, making them a distinct source of entrepreneurial opportunity.
Demographic trends (A) involve population shifts, technological discontinuities (B)
involve new technologies displacing old ones, and supply chain inefficiencies (D)
involve friction in existing distribution.
Q2. A founder observes that international students at Toronto Metropolitan
University consistently struggle to find short-term sublets during summer breaks,
often resorting to expensive hotels. This represents which type of opportunity
source?
,A. A technological convergence
B. A customer pain point
C. A first-mover advantage
D. A capital market gap
Correct Answer: B. A customer pain point [CORRECT]
Rationale: Persistent customer struggles with existing solutions are classic pain-point
opportunities. The scenario describes a clear, recurring problem without mentioning
new technology (A), competitive timing (C), or financing availability (D).
Q3. A startup using the Lean Canvas identifies that independent medical clinics in
Toronto lose approximately $500 daily due to double-booking errors and manual
scheduling conflicts. In the Lean Canvas framework, this $500 daily loss belongs in
which component?
A. Unique Value Proposition
B. Problem
C. Revenue Streams
D. Key Metrics
Correct Answer: B. Problem [CORRECT]
Rationale: The Lean Canvas Problem box captures the top 1–3 problems and the cost
of those problems to the customer. The $500 daily loss quantifies the pain point,
making it a Problem component, not the value proposition (A), revenue model (C), or
measurement dashboard (D).
Q4. For the same clinic-scheduling startup, the description "Independent medical
clinics in Toronto with 3+ physicians who currently use paper-based scheduling and
experience weekly no-shows" belongs in which Lean Canvas component?
A. Customer Segments
B. Solution
, C. Channels
D. Unfair Advantage
Correct Answer: A. Customer Segments [CORRECT]
Rationale: This description defines the target audience and early adopter profile,
which belongs in the Customer Segments box. The Solution box (B) would describe
the actual product, Channels (C) how the product reaches customers, and Unfair
Advantage (D) why the startup cannot be easily copied.
Q5. Which statement best describes effectuation logic as applied during the ideation
phase?
A. Set a specific goal first, then acquire the means to achieve it
B. Start with who you are, what you know, and whom you know, then allow goals to
emerge
C. Maximize expected return through detailed financial forecasting
D. Eliminate uncertainty by completing a full business plan before acting
Correct Answer: B. Start with who you are, what you know, and whom you know, then
allow goals to emerge [CORRECT]
Rationale: Effectuation logic begins with existing means and allows goals to co-
evolve with stakeholders, rather than predicting the future. Option A describes
causation logic, while C and D represent traditional predictive planning that
effectuation explicitly rejects.
Q6. A founder observes that food delivery apps charge Toronto restaurants 30%
commission, leaving independent operators with unsustainable margins. This
opportunity stems primarily from:
A. A social trend toward convenience
B. An industry inefficiency
WEEK 2 QUIZ 2026/2027 | Toronto Metropolitan
University | Ted Rogers School of Management | Pass
Guaranteed - A+ Graded
Section 1: Opportunity Recognition & Ideation (Q1-10)
Q1. A TMU student notices that a new Ontario building code regulation will require
all new residential construction to include EV-ready wiring by 2027. The student
considers launching an electrical contracting service focused on retrofits. This
opportunity is best classified as arising from:
A. A demographic trend
B. A technological discontinuity
C. A regulatory change
D. A supply chain inefficiency
Correct Answer: C. A regulatory change [CORRECT]
Rationale: Regulatory changes create mandatory new demand and alter industry
economics, making them a distinct source of entrepreneurial opportunity.
Demographic trends (A) involve population shifts, technological discontinuities (B)
involve new technologies displacing old ones, and supply chain inefficiencies (D)
involve friction in existing distribution.
Q2. A founder observes that international students at Toronto Metropolitan
University consistently struggle to find short-term sublets during summer breaks,
often resorting to expensive hotels. This represents which type of opportunity
source?
,A. A technological convergence
B. A customer pain point
C. A first-mover advantage
D. A capital market gap
Correct Answer: B. A customer pain point [CORRECT]
Rationale: Persistent customer struggles with existing solutions are classic pain-point
opportunities. The scenario describes a clear, recurring problem without mentioning
new technology (A), competitive timing (C), or financing availability (D).
Q3. A startup using the Lean Canvas identifies that independent medical clinics in
Toronto lose approximately $500 daily due to double-booking errors and manual
scheduling conflicts. In the Lean Canvas framework, this $500 daily loss belongs in
which component?
A. Unique Value Proposition
B. Problem
C. Revenue Streams
D. Key Metrics
Correct Answer: B. Problem [CORRECT]
Rationale: The Lean Canvas Problem box captures the top 1–3 problems and the cost
of those problems to the customer. The $500 daily loss quantifies the pain point,
making it a Problem component, not the value proposition (A), revenue model (C), or
measurement dashboard (D).
Q4. For the same clinic-scheduling startup, the description "Independent medical
clinics in Toronto with 3+ physicians who currently use paper-based scheduling and
experience weekly no-shows" belongs in which Lean Canvas component?
A. Customer Segments
B. Solution
, C. Channels
D. Unfair Advantage
Correct Answer: A. Customer Segments [CORRECT]
Rationale: This description defines the target audience and early adopter profile,
which belongs in the Customer Segments box. The Solution box (B) would describe
the actual product, Channels (C) how the product reaches customers, and Unfair
Advantage (D) why the startup cannot be easily copied.
Q5. Which statement best describes effectuation logic as applied during the ideation
phase?
A. Set a specific goal first, then acquire the means to achieve it
B. Start with who you are, what you know, and whom you know, then allow goals to
emerge
C. Maximize expected return through detailed financial forecasting
D. Eliminate uncertainty by completing a full business plan before acting
Correct Answer: B. Start with who you are, what you know, and whom you know, then
allow goals to emerge [CORRECT]
Rationale: Effectuation logic begins with existing means and allows goals to co-
evolve with stakeholders, rather than predicting the future. Option A describes
causation logic, while C and D represent traditional predictive planning that
effectuation explicitly rejects.
Q6. A founder observes that food delivery apps charge Toronto restaurants 30%
commission, leaving independent operators with unsustainable margins. This
opportunity stems primarily from:
A. A social trend toward convenience
B. An industry inefficiency
