Which conclusion about the dynamic nature of business is most accurate?
New opportunities and risks arise as technology, customer wants and existing products change
Original ideas are always safer than adapted ideas because competitors cannot respond or imitate the features after launch
Products become obsolete only when their prices rise above the cost of production
Once a customer need is met, it remains unchanged for the lifetime of the business
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.