ESB • ESB
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Dernières notes et résumés ESB • ESB
ESB Questions and Answers with 
Verified Solutions 
Online Networking Each day, Donnie posts the progress of her new building to Facebook as 
a countdown to opening her business. What type of networking is Donnie using? 
Increase of service Ophelia discovers her competitor's turnaround time is double her 
turnaround time. What should Ophelia's new marketing strategy be to woo back her customers? 
Which three things are defined when doing a self-assessment? Risk tolerance, strengths, and 
weakn...
ESB v.2 Domain 1 Entrepreneurship & 
Small Business Concepts 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, and capital for a business 
C Corpora...
ESB v.2 Domain 2 Marketing & Sales 
Already Passed 
Acquisition costs 
The cost incurred by a business in relation to the efforts involved in acquiring a new customer. 
Customer Acquisition Cost (CAC) 
The total cost of acquiring a new customer. 
Customer Retention 
Activities or strategies employed by a business to retain existing customers. 
Chamber of Commerce 
A local agency with information on participating local businesses. 
Demographics 
Statistical data (i.e., education, employment, inco...
ESB V2 Certification Questions and 
Answers Already Passed 
_______ is measured by how well the product or service successfully serves its users' purpose. 
Quality 
What are two examples of direct distribution channels? E-commerce sales and door-to-door 
sales 
Indirect distribution channels use _______ to sell their products to the end customers. 
Middlemen 
The first stage of the product/market fit is the ________ stage. Idea 
The second stage of the product/market fit is the ________ stage. ...
ESB V.2 EXAM 2 QUESTIONS AND 
ANSWERS ALREADY GRADED A 
In general, which two characteristics define a "small" business? (Choose two) Fewer then 
1,500 employees 
AND 
Less than $35.5 million revenue 
Classify each of the following businesses as either Physical or Digital. Physical: 
- Bakery in your community 
- Hair salon that makes appointments online 
Digital: 
- Online store that dropships camping gear 
- Bookstore on Amazon that sells eBooks
ESB Vocabulary 100% Correct 
Break Even Point the point at which the costs of producing a product equal the revenue made 
from selling the product 
Break Even Formula Break Even Point = Fixed Costs/Selling Price-Variable Cost 
Driving Sales a special effort to sell more of a product or service, for example by increasing 
advertising 
Inventory Loan a secured short-term loan to purchase inventory 
Operating Loan A loan that is intended for short-term financing. This type of loan is often 
used fo...
ESB certification vocabulary (2022/2023) 
Rated A 
Break Even Formula To calculate the break-even point in units use the formula: Break-Even 
point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars 
using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. 
Driving Sales the largest automotive marketing resource and car dealer social network, 
providing industry best practices and more 
Inventory Loan The loan is collate...
ESB Certification (2022/2023) with 
Complete Answers 
C Corporation Double taxed, shareholders and corporation, great for international businesses 
S Corporation Lower tax, pay on personal income only, like the C corporation but for 
smaller businesess. 
LLC great for individuals with low risks 
nonprofit organization owned by no one, no tax paid 
HUD Help America's housing needs and improve communities.
ESB Domain 1 Review Latest 2023 Rated 
A+ 
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...
ESB Exam Study Guide Latest Update 
with Certified Solutions 
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 helps sma...