ESB Domain 1 Review Questions and
Answers Latest Update 100% Solved
Lean Canvas ✔✔A one-page document discussing key information commonly seen in a business
plan.
MVP ✔✔A minimum viable product (MVP) is an inexpensive preliminary product to test the
product idea.
Owner ✔✔The individuals that own the business.
Non Profit ✔✔A type of business that has no owner and does not pay federal US taxes.
Patent ✔✔A legal method used to protect an invention for a limited time.
Pitch Deck ✔✔A presentation given to potential investors to provide a brief overview of the
business plan to earn another meeting.
Price ✔✔The amount of money charged for goods or services.
Sales Pitch ✔✔A persuasive speech prepared to entice a potential customer to purchase a service
or good.
, Trade Secret ✔✔A practice used by businesses to protect a practice, process, or formula from
being shared with other competitors.
Trademark ✔✔A practice used to protect brand names, logos, and business names.
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 offered to employees in place of or in addition to a lower
salary
Stockholder ✔✔An owner of one or more shares of a corporation
Answers Latest Update 100% Solved
Lean Canvas ✔✔A one-page document discussing key information commonly seen in a business
plan.
MVP ✔✔A minimum viable product (MVP) is an inexpensive preliminary product to test the
product idea.
Owner ✔✔The individuals that own the business.
Non Profit ✔✔A type of business that has no owner and does not pay federal US taxes.
Patent ✔✔A legal method used to protect an invention for a limited time.
Pitch Deck ✔✔A presentation given to potential investors to provide a brief overview of the
business plan to earn another meeting.
Price ✔✔The amount of money charged for goods or services.
Sales Pitch ✔✔A persuasive speech prepared to entice a potential customer to purchase a service
or good.
, Trade Secret ✔✔A practice used by businesses to protect a practice, process, or formula from
being shared with other competitors.
Trademark ✔✔A practice used to protect brand names, logos, and business names.
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 offered to employees in place of or in addition to a lower
salary
Stockholder ✔✔An owner of one or more shares of a corporation
