Business Studies Multiple Choice Question – 30 July 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Lucy was fed up with having her smartphone stolen; four times in the last year! She used her design background to develop ‘NoPhoneTheft’, a lightweight but strong case which secured the phone within it. The design made it very difficult for anyone to steal a smartphone.

Lucy hoped that her invention would be of interest to mobile phone manufacturers. There were few similar products like this on the market.

Which ONE of the following best describes the term ‘invention’?

 

Select ONE answer:

  1. Identifying new products and new ways of making products.
  2. Identifying a gap in a market for a new product.
  3. New business ideas which are profitable.
  4. The process of transforming new ideas into products that can be sold.

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 1

 

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