ESB PRACTICE FLASHCARD

Front

Which characteristic(s) are not REQUIRED to be successful entrepreneurs? Good with math & public speaking, Opportunity Recognition, Truthful with others-Integrity, Willing to take risk

Back

Good with math & public speaking

Front

What is Tony’s best strategy for successfully competing despite his lack of creativity in offering a large menu? Options: Wait for gourmet pizza to go out of style, Start making something other than pizza, Promote his fast delivery service of hot pizzas, Buy a franchise gourmet pizza shop with a large menu.

Back

Promote his fast delivery service of hot pizzas.

Front

Based on the scenario provided, what should Gage emphasize to attract customers to his new business?

Back

Lower prices

Front

Based on the scenario provided, what should Martina and Crystal emphasize in marketing to attract customers to their vegan bakery? Options: Quality service, Variety of baked goods, Convenient location, Cooking school education

Back

Convenient location

Front

Shauna works at a restaurant. She wants to own her own restaurant someday. Which is one of GREATEST risks of entrepreneurship?

Back

Loss of investment

Front

What is a legitimate value proposition for potential customers of Rachel's summer camp for children who want a healthy lifestyle? Options: Providing flexible hours for picking up and dropping off the children, Sending parents daily photographs of the children’s activities, Serving fresh, organic meals and nutritious snacks, Offering discounts during different times of the year

Back

Serving fresh, organic meals and nutritious snacks

Front

Anya wants to set up a legal structure for her food delivery service. Which of the following is NOT a question she should she ask herself to help her make her decision? Is it important for me to make all of the decisions for the business? Will this business be too risky for me to start it alone? Do I have any personal assets that I want to make sure are protected?

Back

Do I even need to set up a legal structure?

Front

A "Permit " is a legal document that allows a business to take a specific action

Back

True

Front

"Zoning Variances" are usually regarding changing the physical appearance/use of a building, as it relates to buying or moving to a new building

Back

True

Front

What is Darby most likely missing regarding parking his taco truck in busy areas of the city? Options: Permit, Certificate, Zoning variance, Severance pay

Back

Permit