ESB PRACTICE EXAM QUESTIONS
AND ANSWERS
Which elements make up your marketing? - ANSWER Product, Place, and
Promotion
What are the characteristics of the entrepreneurial mindset? - ANSWER
creativity, adaptability, determination, and empathy.
You decide to make a candy bar. You bring samples to a focus group for input.
What stage of the development process are you in? - ANSWER Product
Development
Based on the following, which items are true for the product/market? Repeated
use of a product indicates product market fit.
Product/market fit happens when you create something that people want.
You start a business and decide to sell shirts. Consider two variables while
evaluating the viability of your business idea. - ANSWER High demand for the
goods.
Short-term profitability.
List the steps in the design thinking process in order. - ANSWER: Emphasize,
define, prototype, and test ideas.
Calculate the Return on Investment (ROI).
a. Sales price: $180 b. Necklace cost: $134.50 - ANSWER: 45.50/134.50 x 100
equals 34%.
Choose three steps from the sales process. - ANSWER prospect, seal the
transaction, and make the pitch.
Choose two reasons why a small business would use a fulfillment center to
distribute its products. - ANSWER To better regulate product inventory.
AND ANSWERS
Which elements make up your marketing? - ANSWER Product, Place, and
Promotion
What are the characteristics of the entrepreneurial mindset? - ANSWER
creativity, adaptability, determination, and empathy.
You decide to make a candy bar. You bring samples to a focus group for input.
What stage of the development process are you in? - ANSWER Product
Development
Based on the following, which items are true for the product/market? Repeated
use of a product indicates product market fit.
Product/market fit happens when you create something that people want.
You start a business and decide to sell shirts. Consider two variables while
evaluating the viability of your business idea. - ANSWER High demand for the
goods.
Short-term profitability.
List the steps in the design thinking process in order. - ANSWER: Emphasize,
define, prototype, and test ideas.
Calculate the Return on Investment (ROI).
a. Sales price: $180 b. Necklace cost: $134.50 - ANSWER: 45.50/134.50 x 100
equals 34%.
Choose three steps from the sales process. - ANSWER prospect, seal the
transaction, and make the pitch.
Choose two reasons why a small business would use a fulfillment center to
distribute its products. - ANSWER To better regulate product inventory.
