ESB TEST 1 QUESTIONS &
ANSWERS RATED 100%
CORRECT
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? - correct answer ✔✔service
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a
good salary. His only dissatisfaction is the hours are long and often when he requests time of he
is denied because of customer workload. Recently, two new electricians were hired that do
sloppy work and don't get along well with Gabe. As a result, Gabe decides go into business for
himself. Which benefit of entrepreneurship will Gabe most enjoy? - correct answer
✔✔autonomy
A photographer enjoys traveling and having freedom over her own schedule. She would like to
turn her photography hobby into a business. Which are the two greatest benefits she might
experience by turning her hobby into a successful business ? (Choose two ) - correct answer
✔✔making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - correct answer ✔✔creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - correct answer
✔✔tenacious
adaptable
, responsible
Rey has worked as a transportation coordinator for the past 10 years. Rey often is dissatisfied
with the stagnation of the job and wants to open her own transportation service. Which benefit
of entrepreneurship will be the biggest one for Rey? - correct answer ✔✔autonomy
After a self-assessment, a potential entrepreneur has learned that he knows nothing about
accounting and keeping records for a business. Based upon this finding, what should this
entrepreneur do? - correct answer ✔✔enroll in a beginning level business accounting course at
a local community college
Which are three risks of entrepreneurship? (Choose three) - correct answer ✔✔financial
insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - correct answer
✔✔enthusiastic
patient
confident
Fran works for a flooring company in a neighboring town. Many of Fran's customers complain
about a lack of available flooring companies in the area and that of those companies, the prices
are too high. Should Fran decide to open a flooring business, what can be a good marketing
strategy? - correct answer ✔✔low prices
Besides defining strengths and weaknesses, what is the other main factor determined during a
self-assessment? - correct answer ✔✔Risk tolerance
ANSWERS RATED 100%
CORRECT
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? - correct answer ✔✔service
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a
good salary. His only dissatisfaction is the hours are long and often when he requests time of he
is denied because of customer workload. Recently, two new electricians were hired that do
sloppy work and don't get along well with Gabe. As a result, Gabe decides go into business for
himself. Which benefit of entrepreneurship will Gabe most enjoy? - correct answer
✔✔autonomy
A photographer enjoys traveling and having freedom over her own schedule. She would like to
turn her photography hobby into a business. Which are the two greatest benefits she might
experience by turning her hobby into a successful business ? (Choose two ) - correct answer
✔✔making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - correct answer ✔✔creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - correct answer
✔✔tenacious
adaptable
, responsible
Rey has worked as a transportation coordinator for the past 10 years. Rey often is dissatisfied
with the stagnation of the job and wants to open her own transportation service. Which benefit
of entrepreneurship will be the biggest one for Rey? - correct answer ✔✔autonomy
After a self-assessment, a potential entrepreneur has learned that he knows nothing about
accounting and keeping records for a business. Based upon this finding, what should this
entrepreneur do? - correct answer ✔✔enroll in a beginning level business accounting course at
a local community college
Which are three risks of entrepreneurship? (Choose three) - correct answer ✔✔financial
insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - correct answer
✔✔enthusiastic
patient
confident
Fran works for a flooring company in a neighboring town. Many of Fran's customers complain
about a lack of available flooring companies in the area and that of those companies, the prices
are too high. Should Fran decide to open a flooring business, what can be a good marketing
strategy? - correct answer ✔✔low prices
Besides defining strengths and weaknesses, what is the other main factor determined during a
self-assessment? - correct answer ✔✔Risk tolerance
