1.1.1

Question 1

Why new business ideas come about

Answer 1

Changes in technology

Changes in customer wants

Products and services becoming obsolete

New and original ideas

Adapting existing products services ideas

Question 2

What’s e-commerce

Answer 2

Any business transaction taking place using internet

Question 3

M -commerce

Answer 3

Business transaction taking place thru mobile phone eg. Apple Pay

Question 4

Benefits of social media

Answer 4

Cheap simple promotion, reaching target audience

Question 5

Demographics

Answer 5

Characteristics that make up a business customer base

Question 6

Changes in customer wants

Answer 6

Consumer tastes change, businesses need to keep up with trends

Question 7

Products usually decline due to

Answer 7

Technological advancements - usually replaced with a updated version

Question 8

Obsolete

Answer 8

Out of date

Question 9

Invention

Answer 9

Completely new product that didn’t exist before

Question 10

Innovation

Answer 10

Improving a product or successful commercialisation of and invention

Question 11

Adaptation

Answer 11

Changing existing products/services to make it suitable for diff audiences

Question 13

How New business ideas come about

Answer 13

Original ideas

Adapting existing products/services/ideas

Question 14

Why Business ideas come about

Answer 14

Changes in Technology,

products and services, becoming obsolete

changes in what customers want