Edexcel GCSE Business Topics 1.1-1.3

Which one is not a key reason why new business ideas come about?

• Changes in technology

• Changes in what consumers want

• New product development

• Products and services becoming obsolete

E-commerce falls under which key reason why new business ideas come about?

• Changes in technology

• Changes in what consumers want

• Products and services becoming obsolete

What does the following definition best describe? "Any business transaction that takes place using the internet".

• E-commerce

• M-commerce

Changes in what consumers want are influenced predominantly by which factors?

• Demographics

• Consumer tastes

• Customer behaviour

• Social trends

Examples of demographics include?

• Age of the population

• Ethnic profile

• Favourite brand

• Spending habits

If levels of income went up across the UK and positively impacted disposable income, then it’s likely consumers would want to purchase?

• Less products and services which could be classed as luxury and non-essential.

• More products and services which could be classed as luxury and non-essential.

The rise in vegan products is mainly due to?

• Changes in technology

• Changes in what consumers want

• Products and services becoming obsolete

New business ideas come about because entrepreneurs?

• Adapt original ideas

• Adapt existing products

• Generate original ideas

• Generate existing products

The common factors which make a new business start-up likely to succeed include?

• A product or service which fills a gap in the market

• A product or service which solves a problem

• A product or service which has no demand from consumers in the market

• A product or service which exploits an emerging growth trend

The common factors which cause a new business start-up to fail include?

• Outcompeted

• Poor marketing

• Producing a product or service which can be sold at a lower price than competitors

• Insufficient financial resources or simply running out of cash