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ESB Question and answers already passed 2024

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ESB Question and answers already passed 2024 What is Entrepreneurship? - correct answer Setting up a business with the aim to make a profit. For each business, select B2B or B2C. - correct answer B2B- Wholesale flooring distributor, Purcheases requirin a tax exemption certificate B2C-Motor...

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  • August 23, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • esb
  • esb question and answers already passed 2024

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ESB
What is Entrepreneurship? - correct answer ✔Setting up a business with the
aim to make a profit.


For each business, select B2B or B2C. - correct answer ✔B2B- Wholesale
flooring distributor, Purcheases requirin a tax exemption certificate
B2C-Motorcycle repair shop, Chain of local grocery stores


Which legal structure should you set up for your business? - correct answer
✔S-Corporation


For each statement about owners of equity in a business, select True or
False. - correct answer ✔True- Founders own equity, A partner owns equity.
False- All stakeholder owns equity, Contractors own equity.


Place the stages of the business life cycle in the correct order. - correct
answer ✔1. Existence
2. Survival of the Fittest
3. Success
4. Take-off
5. Maturity


Match each Element of the Design Thinking Process - correct answer ✔1.
Empathize
2.Define
3. Ideate
4. Prototype

, 5.Test


Successful entrepreneurs have mindset (three) - correct answer
✔Responsible, Adaptable, Tenacious


Which three characteristics help identify a business opportunity? - correct
answer ✔1. Service
2. Price
3. Quality


Which two documents summarize the business plan of a company? - correct
answer ✔Lean Canvas
Pitch Deck


Which three elements are required to have a Trade Secret? - correct answer
✔1. Subject to reasonable efforts to maintain its secrecy
2. Others cannot legitimately obtain the infromation
3. Information has economic value not generally know


Which two are offline marketing platforms? - correct answer ✔1. TV ads
2. Flyers and Pamphlets


Which three are segments in a Marketing Plan? - correct answer
✔Demographic
Behavioral
Geographic

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