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ESB 706
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In general, which two characteristics define a "small" business? (Choose two) - Fewer 
then 1,500 employees 
AND 
Less than $35.5 million revenue 
Classify each of the following businesses as either Physical or Digital. - Physical: 
- Bakery in your community 
- Hair salon that makes appointments online
- Exam (elaborations)
- • 17 pages's •
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In general, which two characteristics define a "small" business? (Choose two) - Fewer 
then 1,500 employees 
AND 
Less than $35.5 million revenue 
Classify each of the following businesses as either Physical or Digital. - Physical: 
- Bakery in your community 
- Hair salon that makes appointments online
T/F Trademark licensing is used for brand names, logos, or slogans - True 
This segment describes the benefits to customers based on their wants or needs and how they 
use the product - Behavioral 
T/F Trade secret licensing must be registered with the gov - True 
T/F The design thinking process places a high emphasis on developing customer empathy - 
True
- Exam (elaborations)
- • 11 pages's •
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T/F Trademark licensing is used for brand names, logos, or slogans - True 
This segment describes the benefits to customers based on their wants or needs and how they 
use the product - Behavioral 
T/F Trade secret licensing must be registered with the gov - True 
T/F The design thinking process places a high emphasis on developing customer empathy - 
True
Flexibility - Ability to adapt, willingness to change 
Courage - Takes risks in spite of possible losses 
Empathy - Sensitive to thoughts and feelings of others 
What are three characteristics of entrepreneurs? - Creativity, Determination, Enthusiasm
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Flexibility - Ability to adapt, willingness to change 
Courage - Takes risks in spite of possible losses 
Empathy - Sensitive to thoughts and feelings of others 
What are three characteristics of entrepreneurs? - Creativity, Determination, Enthusiasm
Domain 1 Lesson 1 - 
The key objective of a small business owner is to generate ____ - profits 
Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their 
businesses rapidly - risks 
Tangible items that require pick-up or delivery are ____ products - physical 
When a ____ purchases an item from a business, it is a business-to-consumer transaction - 
customer
- Exam (elaborations)
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Domain 1 Lesson 1 - 
The key objective of a small business owner is to generate ____ - profits 
Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their 
businesses rapidly - risks 
Tangible items that require pick-up or delivery are ____ products - physical 
When a ____ purchases an item from a business, it is a business-to-consumer transaction - 
customer
James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in 
utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - 
$24,800 
Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each 
one and wants to make 25%. What should her selling price be? - $87,500 
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - True
- Exam (elaborations)
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James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in 
utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - 
$24,800 
Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each 
one and wants to make 25%. What should her selling price be? - $87,500 
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - True
T/F Trademark licensing is used for brand names, logos, or slogans - True 
 
This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral 
 
T/F Trade secret licensing must be registered with the gov - True 
 
T/F The design thinking process places a high emphasis on developing customer empathy - True 
 
T/F The design thinking process aims to develop solutions to problems - True 
 
You want to buy a gift shop in a popular location with...
- Exam (elaborations)
- • 6 pages's •
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T/F Trademark licensing is used for brand names, logos, or slogans - True 
 
This segment describes the benefits to customers based on their wants or needs and how they use the product - Behavioral 
 
T/F Trade secret licensing must be registered with the gov - True 
 
T/F The design thinking process places a high emphasis on developing customer empathy - True 
 
T/F The design thinking process aims to develop solutions to problems - True 
 
You want to buy a gift shop in a popular location with...
Quality - _______ is measured by how well the product or service successfully serves its users' purpose. 
 
E-commerce sales and door-to-door sales - What are two examples of direct distribution channels? 
 
Middlemen - Indirect distribution channels use _______ to sell their products to the end customers. 
 
Idea - The first stage of the product/market fit is the ________ stage. 
 
prototype - The second stage of the product/market fit is the ________ stage. 
 
launch - The third stage of the ...
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Quality - _______ is measured by how well the product or service successfully serves its users' purpose. 
 
E-commerce sales and door-to-door sales - What are two examples of direct distribution channels? 
 
Middlemen - Indirect distribution channels use _______ to sell their products to the end customers. 
 
Idea - The first stage of the product/market fit is the ________ stage. 
 
prototype - The second stage of the product/market fit is the ________ stage. 
 
launch - The third stage of the ...
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