ESB

ESB Exam Questions and Answers 100% Pass Entrpreneurship - Setting up a business with the aim to make a profit. Entrepreneur - An individual with an idea to offer an innovative product or service about which they are passionate. Characteristics of an Entrepreneur - Responsible, Tenacious, Adaptable, Doesn't give up easily, Risk tolerant, self-reliant, able to recognize opportunities, displays initiative, resilient, possess a growth mindset, have a forward-thinking mentality, and posse...

ESB EXAM QUESTIONS AND ANSWERS 2025, 100% PASS What is entepenuership? - setting up a buisness with the aim to make a profit B2B (business-to-business) - A commercial exchange (e.g., products or services) between businesses, typically enabled by the Internet or electronic means. B2C (business-to-consumer) - the process by which businesses sell to consumers S-Corporation - a form of corporation that avoids double taxation by having its income taxed as if it were a partnership C-Corporatio...

ESB Exam Study Guide Questions and Answers 100% Pass Acquisition Cost - the cost of obtaining data that you don't have Contingency costs - amount of money included to cover potential events that are not specifically accounted for in a cost estimate Variable Cost - a cost that rises or falls depending on how much is produced fixed costs - costs that do not vary with production or sales level pro forma - financial statement Small Business Administration (SBA) - government agency that he...

ESB EXAM Study Guide Questions and Answers 100% Pass Flexibility - Ability to adapt, willingness to change Courage - Takes risks in spite of possible losses Empathy - Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - Creativity, Determination, Enthusiasm After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to ...

ESB Certification Exam Study Guide Exam Questions and Answers 100% Pass Domain 1 Lesson 1 - The key objective of a small business owner is to generate ____ - profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - risks Tangible items that require pick-up or delivery are ____ products - physical When a ____ purchases an item from a business, it is a business-to-consumer transaction - customer ____ are for-profit corporations w...

ESB Test 1 Questions and Answers 100% Pass Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back her customers? - service Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a good salary. His only diss...

ESB TEST 1 QUESTIONS AND ANSWERS 100% PASS Heuristics - involving/serving as an aid to learning, discovery, or problems solving by experimental and especially trial and error methods. usually (but not always) a good way to make decisions about the world Availability Heuristic - A mental shortcut for judging the likelihood of an event occurring based on how easily we can think of similar or relevant instances Representativeness heuristic - A mental shortcut for deciding the likelihood of a...

ESB Practice Exam Questions and Answers 100% Pass T/F Trademark licensing is used for brand names, logos, or slogans - True This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral T/F Trade secret licensing must be registered with the gov - True T/F The design thinking process places a high emphasis on developing customer empathy - True T/F The design thinking process aims to develop solutions to problems - True You want t...

ESB Domain 1 Review Questions and Answers 100% Pass Partners - members of a company who share the risks and profits of the business Franchise - A business that takes its name and characteristics from an existing business chain Stakeholder - An individual with an interest in a business Prototype - A preliminary product, commonly a product with minimum viability, from which to test and develop Service - an intangivle service or skill that is performed Equity - Non-cash compensations offer...

ESB v.2 Domain 1 Entrepreneurship & Small Business Concepts Exam Questions and Answers 100% Pass B2B - A business-to-business (B2B) commercial transaction between businesses B2C - A business-to-consumer (B2C) transaction Brand recognition - The level of familiarity one has with a brand Business Opportunity - A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible Business Plan - A document that addresses the concept, customers,...