ESB Unit 1 Review

Which of the following is NOT a reward associated with being an entrepreneur?

• Helping your community

• Potential business failure

• Greater wealth

• Making your own rules

• Doing work you enjoy

What entrepreneurs get in exchange for starting a business; can include money, personal satisfaction, independence, or positive impact on the economy/community

• Risk

• Reward

• Problem

• Solution

A difficult, unwelcome, or harmful situation

• Risk

• Solution

• Problem

• Reward

Which of the following is a crucial question for entrepreneurs to answer for themselves before pursuing a business idea?

• Will everyone in the world want to buy this product or service?

• Do I think the rewards of this business could outweigh the risks?

• Does this business pose no risks at all?

Which of the following is NOT a part of the Lean Canvas?

• Customer Segments

• Key Metrics

• Problem

• Customer Needs

• Solution

Which sections of the Lean Canvas are typically completed first?

• Problem and Solution

• Problem and Unique Value Proposition

• Problem and Unfair Advantage

• Key Metrics and Unfair Advantage

• Channels and Revenue Streams

Artistic and industrial creations of the mind

• Infringement

• Public Domain

• Intellectual Property

• Fair Use

What are the steps as outlined by NFTE for human-centered design thinking?

• Energize, Interpret, Ideate, Sell, Test and Evolve

• Empathize, Interpret, Ideate, MVP Prototype, Test and Evolve

• Empathize, Test, Ideate, MVP Prototype, Empathize, and Evolve

• Empathize, Interpret, Market Research, MVP Prototype, Test and Evolve

Which of the following is NOT an advantage of human-centered design thinking?

• It allows for a more enjoyable user experience for customers

• It allows for more flexibility in the product/service creation process

• It allows for a deeper understanding of the problems that the market faces

• It allows a single entrepreneur to bring their favorite ideas to market

Violating a copyright or patent holder’s rights

• Infringement

• Fair Use

• Intellectual Property

• Public Domain