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18. The business definition has three elements ________.a. target market, potential customers, and production capability
b. offer, target market, and production/delivery capabilityc. offer, acceptance, and considerationd. business definition, target market, and market analysisAnswer: BObjective: Define your business.Page numbers: 92, 93Level: Intermediate19. Which of the following is nota strong method of identifying business opportunities?Chapter 4- 6 Questions20. What is the third step of deciding who the potential customers are for your business?21. When has a market become saturated?