Domain 1 Review #2 Quiz ESB

What are the FIVE Business Life Cycle Stages? Choose ALL that apply.

• Existence
• Survival of the Fittest
• Success
• Takeoff
• Maturity

In which stage does the business expand and spread into new markets?

• Takeoff
• Existence
• Success
• Survival of the Fittest
• Maturity

Which stage is the beginning of the Business Life Cycle?

• Takeoff
• Existence
• Success
• Survival of the Fittest
• Maturity

Which stage is the marketing, selling and tweaking stage for a business?

• Takeoff
• Existence
• Success
• Survival of the Fittest
• Maturity

In which stage should you think of an exit strategy?

• Takeoff
• Existence
• Success
• Survival of the Fittest
• Maturity

Which of the following is a Benefit of being an Entrepreneur?

• Control your schedule
• Spending money
• Unlimited Liability
• Self-Employment Taxes

Which of the following is a Drawback of being an Entrepreneur?

• You are your own boss
• Unlimited Liability
• Regular paychecks
• Meet new people

What are the FIVE steps of the Design Thinking Process? Choose ALL that apply.

• Empathize
• Define
• Ideate
• Prototype
• Test

In which step of the Design Thinking Process do you "Learn the people who have the problem"?

• Empathize
• Define
• Prototype
• Test

In which step of the Design Thinking Process do you create the solution, so you can later ask people for feedback?

• Empathize
• Define
• Prototype
• Test