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ESB Domain 1 Pre Assessment Flashcards | StudBud
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ESB Domain 1 Pre Assessment
ESB Domain 1 Pre Assessment
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Questions
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1
One should know if there is ..... for a product before taking on a business opportunity.
high demand
buyer fees
high production cost
high taxes
2
Ronda owns a food truck where she is known for her hot sauce. Which intellectual property law best protects Ronda's
trademark
copyright
patent
trade secret
3
See question below:
Stockholder
Chief Operating Officer (COO)
Human resource manager
Stakeholder
4
Tim bought a movie from a streaming service. He got immediate access to the movie. Which e-commerce did Tim purchase?
Market
Digital
Wholesale
Physical
5
What is the main drawback of a sole proprietership?
They are responsible to shareholders
They require a partner
They are easy to create
They have unlimited personal liability
6
See image below:
Hourly
Commission
Piece work
Equity
7
See question below:
piece work
equity
hourly
salary
8
See question below:
take-off
success
existence
survival
9
What is the difference between small businesses and entrepreneurs?
Entrepreneurs are not interested in taking on new business opportunities
Small business owners are more willing to take on unknown risks
Entrepreneurs are focused on generating profits
Small businesses are not interested in taking on new business opportunities
10
When an employee is hired, they sign a contract that outlines the employee's and the employer's ...... and the terms of
union rights
desired salary
job descriptions
obligations
11
One value of using ........material is that they are usually well-recognized, which may help boost sales.
copyrighted
trade secret
trademarked
patented
12
Anytime someone wants to use a .... on their products, they must obtain a license to use them.
logo
generic name
brand name
design
13
What might the design team need to do during the design thinking process?
Create less prototype ideas to ensure they will not solve outlined problem
Conduct surveys to ensure that the finished product will solve the problem
Revisit previous stages
Discuss other problems that need to be solved
14
See question below:
Franchise
Dealership
Network marketing
Licensing
15
A common financial risk that entrepreneurs encounter is .......
high taxes
high maintenance costs
high insurance costs
bankruptcy
16
What are the three disadvantages of selling physical products?
Physical products tend to have a lower value
Shipping and packaging costs
Needing employees to track the supply
Needing storage space
17
What are two benefits of entrepreneurship?
Having a set pay
Getting to work with like-minded people
Setting one's own hours
Lower income tax
18
An executive summary should briefly explain everything in a business plan in ...... pages.
three
one
two
four
19
Which corporation uses a double layer of taxation?
Sole proprietership
C corporation
Limited Liability Company
S corporation
20
Companies run the risk of employees sharing trade secrets. Which two documents do companies have their employees sign?
Employee handbook
Trade secret contract
Non-disclosure agreement (NDA)
Confidentiality agreement
21
A lean canvas should only be ... page long, discussing key information, without details one would see in a business plan
two
four
three
one
22
Appliance World is an appliance manufacturer. Super Steel supplies metal to Appliance World. What type of transaction is
Business-to-consumer (B2C)
Physical
Business-to-business (B2B)
Digital