ESB Domain 1 Lesson 2 Test Prep

While watching Domain 1 Lesson 2, fill in the missing words according to the information presented by the instructor. [References are found in the brackets.] __________ is the amount of loss one is willing to take when making an investment decision. [Characteristics of an Entrepreneurial Mindset]

• Risk tolerance

• Profit margin

• Investment return

• Market volatility

Having a __________ mindset means believing that one can accomplish anything through hard work. [Characteristics of an Entrepreneurial Mindset]

• growth

• fixed

• static

• limited

An example of an __________ risk is a natural disaster. [Entrepreneurship Risks and Benefits]

• environmental

• financial

• operational

• strategic

A business opportunity is an __________ that lets a buyer start a business. [Characteristics of a Business Opportunity]

• investment

• obligation

• liability

• expense

A __________ needs to be obtained to use a brand name on products. [Characteristics of a Business Opportunity]

• license

• permit

• certificate

• authorization

The five factors that determine the viability of a business opportunity are __________, relationships, cash flow management, management skillsets, and passion. [Viability of a Business Opportunity]

• market size

• location

• competition

• innovation

A business plan helps a business achieve short-term and long-term __________.

• goals

• profits

• expenses

• losses

A lean canvas should only be __________ long. [Business Plan, Pitch Deck, and Lean Canvas]

• one page

• two pages

• three pages

• four pages

The __________ summary creates the first impression of a business plan. [Key Components of a Business Plan]

• executive

• financial

• marketing

• operational

The __________ plan should specifically be directed to investors and lenders. [Key Components of a Business Plan]

• financial

• marketing

• operational

• strategic