Business Term 1

Question 1

how do new business ideas come about

Answer 1

changes in technology
changes in what
consumers
want
products and services becoming
obsolete
new and original ideas
adapting existing products, services and ideas

Question 2

what is e commerce

Answer 2

E-commerce is any business transaction that takes place using the interne

Question 3

what is m commerce

Answer 3

M-commerce is any business transaction that takes place through a mobile phone

Question 4

demographics?

Answer 4

Demographics are the different characteristics that make up a population, or a business’ customer base

Question 5

types of risks?

Answer 5

financial loss
lack of security
business failure

Question 6

lack of security?

Answer 6

Entrepreneurs often have to give up their existing job to pursue their business idea, along with the security of a regular
income
. In addition, they may have to work long, irregular hours, and may find it difficult to take holidays in the early days of running a business.

Question 7

financial loss?

Question 8

business failure?

Question 9

rewards of business?

Answer 9

profit
business success
independence