No reason why the terminal window would not be on the Live CD and sure
I've used it from there many times, it's one of the major routes for
fixing a broken installation !

In Ubuntu, click on Dash and type terminal

In Kubuntu is should be under 'Applications / System' ( it's called
Konsole in KDE ).

Click on the Dash at top left. Start to type T-e-r and it should come up.

No the Terminal is live and well. The Ubuntu Icon known as the dash
(top button on the launcher) is the answer for applications not found.
The text mouse pointer will be in the search window when the dash opens.
Just start typing i.e. "terminal" without quotation marks. The Icon will
show up after just a few of the letters are typed in.

If you use it a bunch just right click over the Icon and select the "pin
to launcher" option and it will be so.

I do this with every install to make some things easy to find for the
new owner. I also run through this routine with the owner clicking the
mouse so (she/he) learns the method.

You can also drag and drop to the Launcher.

There is a keyboard shortcut overlay that appears when you press the Super
(Windows) key.

Here is a handy hot key and mouse short cut page:
askubuntu.com/.../what-are-unitys-keyboard-and-mouse-shortcut\


Complete Guide: http://ubuntuguide.org/wiki/Ubuntu:Precise

www.webupd8.org/.../...tcut-hints-overlay-and.html

Ctrl+Alt+T opens the terminal.

Note: I am not a Unity user. It is KDE for me! But I try Unity
periodically. I still cannot get used to its limitations.