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ESB PRACTICE EXAM 1 QUESTIONS AND ANSWERS
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ESB PRACTICE EXAM 1 QUESTIONS ANDANSWERS
A bill was approved that increased the minimum wage by 30%. The owner of a
small landscaping business must now pay her employees 30% more.
What is the bare least the owner must now charge consumers for labour to cover
her higher operational costs?
Please disregard any linked tax increases, such as FICA. - ANSWER:-30%
You were asked to classify many firms as either B2B or B2C.
Choose whether to sell to businesses or consumers. - ANSWER B2B:
Wholesale flooring distributor
-Purchases that require a tax exemption certificate.
B2C: Chain of local grocery stores.
-A motorbike repair store.
Your company develops and sells 72-hour emergency kits at a poor profit
margin. You want to improve your consumer base and sales volume, but you
have a limited budget.
Which marketing approach would be the best fit? - ANSWER: Social Media
Select True or False for each statement on Product Quality Control Testing. -
ANSWER: True - Improve quality measures to boost product satisfaction.
Establish a method for testing product quality.
- Determine applicable standards for the product and sector.
False: - Review rivals' quality assurance testing results. - Spend money on
product quality control testing only if more than 10% of customers complain.
Which two ways can Customer Service and Support impact sales? (Choose 2) -
ANSWER: Increased sales through customers.
-Sales increased through...
, Which are the two advantages of equity funding? (Choose 2) - ANSWER: Can
be utilised to increase productivity.
-Investors are not paid.
You're a technical trainer. You teach online classes to assist employees become
more effective using Microsoft Office software.
What is the best technique to assess your teaching performance during an online
course? - ANSWER: Conduct on-screen pop quizzes.
Which two things distinguish direct distribution from fulfilment centres?
(Choose 2) - ANSWER: Everything is under the manufacturer's control.
- Direct distribution.
Classify the data below as primary or secondary.
For each firm, choose Primary or Secondary. - ANSWER Primary information
gathered from our company focus group.
- A marketing survey.
Secondary: Demographic data.
-Facts you gathered.
Which is one of the most significant advantages of being an entrepreneur? -
ANSWER: Schedule control.
You must build a legal structure for your small business. You want some of the
perks that large organisations have, but you don't want to pay twice. You have
four partners who will be shareholders. None of you want to sell your
ownership interests to the public, but you do want to be shielded against
business responsibilities.
Which legal structure should you choose for your business? - ANSWER: S-
Corporation
You develop a new sort of electric shaver that is lightweight, portable, and has a
longer charge.
What are the three things you should consider while mass producing an electric
shaver? (Select three)
You will receive partial credit for each correct answer. - ANSWER: sourcing
materials
- Locate a manufacturer - Create a prototype
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