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ESB - Domain 1 Lesson 1 Questions and Answers 100% Correct | Latest 2024
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ESB - Domain 1 Lesson 1 Questions andAnswers 100% Correct | Latest 2024
The key objective of a small business owner is to generate __________. -
ANSWER Profits
Entrepreneurs are willing to take on new opportunities and unknown
___________ to grow their businesses rapidly. - ANSWER Risks
Tangible items that require pick-up or delivery are __________ products. -
ANSWER Physical
When a __________ purchases an item from a business, it is a business-to-
consumer transaction. - ANSWER Consumer
__________ are for-profit corporations with limited liability. - ANSWER S
corporations
__________ are ideal for international businesses. - ANSWER C corporations
The __________ oversees daily operational and administrative functions. -
ANSWER COO
A __________ votes on the management of a company. - ANSWER Stockholder
, __________ employees are paid a fixed amount each pay period. - ANSWER
Salary
Businesses can compensate employees for work they produce when being paid by
__________. - ANSWER Piece work
__________ in addition to a lower salary. - ANSWER Equity
During the __________ stage of the business life cycle, a company is regularly
taking on new customers and starting to generate a consistent income. -
ANSWER Survival
The owner may decide to sell their ownership in the company during the
___________ stage. - ANSWER Take-off
The five elements of the design thinking process are: empathize, define, ideate,
__________, and test. - ANSWER Prototype
__________ allows one to see and experience a customer's perspective. -
ANSWER Empathy
The design team creates multiple inexpensive versions of a product, known as
__________ - ANSWER Prototype
Name one benefit of a franchise. - ANSWER Less risky
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