Domain 1 Vocab #1 Quiz ESB

Which term refers to a business that is trying to invent a better way of doing things, and could possibly disrupt the way things have always been done?

• Small Business
• Startup
• Sole Proprietorship
• Partnership

Which term refers to a business that is a tried and true business model, and is successful but not revolutionary?

• Small Business
• Startup
• Sole Proprietorship
• Partnership

Which term refers to tangible items that are manufactured and sold to consumers?

• Product
• Service

Which term refers to a task or job done for consumers for a fee?

• Product
• Service

Which product types are made and delivered through a distribution channel (boat, truck, train, van)?

• Physical products
• Digital products

Which product types are downloaded or delivered online?

• Physical products
• Digital products

Which type of business sells their products or services to other businesses?

• Business to Consumer (B2C)
• Business to Business (B2B)

Which type of business sells their products or services to customers who will use them?

• Business to Consumer (B2C)
• Business to Business (B2B)

Which business type expands by selling the right to use its name and ideas?

• Franchise
• Sole Proprietorship
• Partnership
• Corporation

Which type of pay for a worker involves receiving a fixed amount of pay regardless of how many hours they work?

• Salary
• Commission
• Hourly
• Piece Work