James lives near a university and observes that almost every student uses a cell phone. he decides to open a small shop offering repair services for cell phones. his shop is an instant success. james has satisfied an area of need

The correct answer is "an opportunity niche".

Explanation: James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called an opportunity niche.

The concept of a niche of opportunity refers to the existence of a group of people or companies that have certain needs, and who have the will to meet them and economic capacity to acquire the services or goods necessary for this, in this case James les He offered the good or service to meet this need.

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself