Business Studies Multiple Choice Question – 1 August 2020

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

Business Studies
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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 is the most important for Lucy in spotting a new business opportunity?

 

Select ONE answer:

  1. Being able to produce his product cheaply.
  2. Being a keen cyclist.
  3. Recognising a need in the market-place.
  4. Having a large amount of personal savings.

 

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 3

 

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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