A start-up develops a voice-controlled device for older customers. A large rival then launches a similar product. Which conclusion is most accurate?
The new technology has removed every risk faced by the start-up
The start-up must stop adapting the product because the idea is no longer original and must be abandoned rather than improved for a different segment
Competition guarantees that the start-up's financial loss will increase
The idea may meet a changing need, but the entrepreneur must still decide how to differentiate it
37 exam-style questions on Edexcel GCSE Business 1.1 Enterprise and entrepreneurship, covering 1.1.1a Why new business ideas come about: technology and consumers, 1.1.1b Why new business ideas come about: obsolescence, 1.1.1c How new business ideas come about, 1.1.2a Risk in business activity, 1.1.2b Reward in business activity, 1.1.3a The role and purpose of business activity, 1.1.3b Adding value, and 1.1.3c The role of entrepreneurship. Each one has a worked solution and a mark scheme showing where the marks go.