ESB Domain 1

______ are for-profit corporations with limited liability and are NOT the most ideal for overseas or international operations.

• C corp

• S corp

• LLC (Limited Lability Company)

The five elements of the design thinking process are: empathize, define, ideate, prototype , and _____

• observe

• exam

• test

• experiment

________ is the amount of loss one is willing to take when making an investment decision

• Willingness

• Will power

• Risk tolerance

• Strength

Businesses can compensate employees for work they produce when being paid by ______

• percent pay

• hours worked

• salary

• piece work

A ______votes on the management of a company.

• stockholder

• Customer

• Board of Directors

• All of these

The owner may decide to sell their ownership in the company during the ______stage

• exit plan

• ending

• gateway

• retire

The ______ creates the first impression of a business plan.

• lean canvas

• business plan

• executive summary

• all of these

The design team creates multiple inexpensive versions of a product, known as_______ .

• Experimental Viable Products

• Minimum Viable Products

• Maximum Viable Products

• Experimental Product

Peter has decided to purchase a new carpet for his townhouse, He visits a local store to purchase the carpet there. Why type of transaction is this?

• Business to consumer (B2C)

• Physical

• Digital

• Business to Business (B2B)

Entrepreneurs are willing to take on new opportunities and unknown risks to grow their businesses rapidly

• FALSE

• TRUE