Edexcel GCSE Business 1.1.1

Name the three ways a new business idea could come about.

• Changes in government policy, changes in technology, and changes in consumer wants

• Obsolete products, changes in technology, and changes in consumer wants

• Changes in technology, changes in consumer wants, and changes in the economy

• Obsolete products, changes in the economy, and changes in government policy

State the two ways business ideas can be created.

• Original products, adapting existing products

• Adapting existing products, merging with other businesses

• Original products, franchising

• Merging with other businesses, franchising

Describe one product that has been created due to a change in what consumers want.

• Smartphones with larger screens

• Electric kettles

• Solar-powered calculators

• Digital cameras

Explain how cars have changed due to changes in what consumers want.

• More fuel-efficient engines and larger boot space

• Electric engines and integrated media systems

• Smaller engines and manual transmissions

• Larger engines and fewer safety features

What changes might come about for mobile phones?

• Larger physical buttons and smaller screens

• Increased battery life and more advanced AI features

• Heavier designs and fewer apps

• Reduced connectivity and simpler interfaces

Define the term ‘original idea’.

• A product that is a variation of an existing one

• Creation of a product that hasn’t been done before

• A product that is inspired by another

• A product that is a combination of two existing ideas

Why would a business adapt an existing idea rather than create an original one?

• It allows for more creativity and innovation

• Production is already set up so saves on costs, already a market for the product

• It requires less market research

• It guarantees higher profits

Which of the following is an example of a product becoming obsolete?

• Vinyl records being replaced by digital music

• Smartphones being replaced by tablets

• Electric cars replacing petrol cars

• Laptops being replaced by desktops

What is one reason a business might choose to create an original product?

• To avoid competition

• To reduce production costs

• To enter an already saturated market

• To follow industry trends

How might changes in technology influence new business ideas?

• By making existing products more expensive

• By creating opportunities for new products and services

• By reducing the need for innovation

• By limiting consumer choices