Our site uses cookies. Some of the cookies we use are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but parts of the site will not work. To find out more about cookies on this website, see our Cookie Policy
Accept
© eRevision.uk and ZigZag Education 2025
This test is run by guest.
Note that your final mark will not be saved in the system.

1.1.1 The dynamic nature of business GapFill

Target Level
4-5
Running Total
0
0%
Attempt
1 of 3

You must fill all the gaps before clicking ‘Check Answers!’

A product is anything which is capable of   satisfying inspiring sustaining disappointing customer needs and wants. These can be physical products such as cars or food. A service is an act that a business person carries out for the customer in   barter exchange argument replacement for money; for example, dental treatment or getting a haircut.  Services can also be   vague intangible untouchable indefinite, such as insurance or banking.  Customers are unable to touch or see the service, but it is there. New business ideas can come about as a result of changes in   ability skill typologytechnology . Since the invention of the Internet in 1990, businesses have found a more cost-efficient method of reaching customers online; this is called   Q-commerce E-commerce M-commerce C-commerce.  Small businesses are now able to sell products online on auction sites such as eBid and   Audible PayPal Google eBay .  Businesses can use social media to find out what consumers want and need so that they can produce products and services to meet those wants and needs.  For example, modern consumers no longer want   fresh trendy modern obsolete  products such as typewriters, pagers and fax machines. Consumer are now demanding more organic and free-from products as they become aware of their impact on the   setting background surrounding environment .  Some new business ideas are completely original, and the products or services may be developed in response to a problem or because an entrepreneur has a particular   attention awareness interest curiosity.  Other business ideas come about by adapting existing products or services in some way, or creating a new   form category report version of an old product.

This is your 1st attempt! You get 3 marks for each one you get right. Good luck!

Pass Mark
72%