1.1.1 The Dynamic Nature of Business Flashcards
1
Q
What is an entrepeneur?
A
An entrepreneur is someone who sets up a business, taking on financial risks with the aim of making a profit
2
Q
What does dynamic mean?
A
Dynamic means ‘constantly changing’
3
Q
What does obsolete mean?
A
Obsolete means out of date or not used anymore
4
Q
What is e-commerce?
A
E-commerce = using the internet (PC) to carry out
business transactions
5
Q
What is m-commerce?
A
M-commerce = using mobile technologies, such as smartphones and tablets to carry out business transactions
6
Q
What is the product life cycle?
A
Most products have a limited lifespan – known
as the product life cycle – usually because of changes in technology or changes in fashion or taste
7
Q
A
