1.1.1 The dynamic nature of business GCSE Business

[NorthTiger]

Watching this as revision for my Business GCSE

[badgyaljlx]

Thanks, great video!
Question 1. A key difference between a product and a service is, a product is tangible and a service is not an example of a product and a service is, a cell phone and getting your hair done at a hairdresser.
Question 2. Obsolete means a product is no longer usable or sellable. A product may become obsolete because of advancements in technology.
Question 3. New business ideas can come about because of changes in consumers needs and wants.
Question 4. An original idea is an idea that has not to be done before and has come only by the person who has the idea.
Question 5. An example is Just Eat, by taking both the internet and the increasing demand for takeaway Just Eat puts them together, making takeaways a lot more accessible and giving the consumer more choice.

[damanralmil-]

Very useful, I am currently using this for my GCSEs in 2025.

[chow]

I’m glad I found this because in my school lessons it’s not as effective than this lessons.

[graceaureliadarlingxx]

1. The difference between product and service is that a product is something you can touch and a service is something that is intangible you cant touch

[asianwarrior]

i've done my gcse's and im doing business for my a levels right now but these videos are really helping me to recap, thanks a lot

[dreamer]

1. a product is tangible whereas a service is intangible.
2. obsolete means out of date
3. new business ideas come about when there are changes in customer needs and wants, products and services become obsolete, and changes in technology
4.an original idea is something that's never been done before and is unique
5. an example of adapting existing products is apple keeps updating its iphone's. another example is instagram and snapchat updates

[pranavpamidi]

ur the most underrated youtube teacher ur goated man

[uhmilikenoodles]

1. A product is a tangible object, for example, a guitar, a TV, or a phone, whereas a service is an act someone does for you, for example, insurance, or painting your house.

2. Obsolete means something that is no longer in use.

3. New business ideas come about to fill gaps in the market. For example, a reason AirPods were created might have been because people wanted earphones that wouldn't get tangled.

4. An original idea is an idea that has never been done before.

5. One example of adapting existing products or services is social media. Social media is always changing and updating to fit what its users want.

[xdinoroarx]

1- a product is a physical, tangible item that can be sold, whereas a service is a none tangible
2- Obsolete is where a product or service is no longer relevant to sell because of causes such as changes in technology
3- Unfilled gaps in markets, new trends, new original ideas
4- An new idea that has not come about before
5- New IPhone models releasing every year with new features such as improved cameras, new AI features (following trends), bug fixes etc

[graceaureliadarlingxx]

5. an example of adapting an existing product is, apple iPhone to a apple watch.

[farrahfitzgerald]

1. A product is an object and something that is tangible but a service is an act carried out to satisfy customer needs.
2. Obsolete means out of date and no longer used.
3. Changes in technology and consumers wants and needs
4. A business that has never been created before or a product that’s never been produced or a service that’s never been carried out.
5. Just eat combined the use of the internet with the customer want for fast and easy take away services.

[graceaureliadarlingxx]

3. new business ideas come about, because the development in new technology, and changes in customer needs, and the needs and wants of the consumers.

[graceaureliadarlingxx]

2. the word obsolete means a product that has gone out of business, or is not in the shops anymore

[graceaureliadarlingxx]

4.the word Original idea means something that was one of its kind or is something fresh or new or unusual

[mose-rtz]

A product is tangible whereas a service is intangible .

Obsolete means that consumers no longer want it .

New business ideas come about becuase of changes in technology, trends and products becoming obsolete .


An original idea is a new idea that hasn’t been done before .

One example of adapting exist product is just eats which saw a gap in the market for online food takeaway

[busy]

1) What is the difference between a product and a service?

2) Define obsolete

3) Why new business ideas come about

4) What is an original idea

5) example of adapting existing products/ideas/services

[flynnrichmond]

Q1 a product is a physical thing like a pc a service is something that is done for you like hairdresser where you dont get antthing phyical
Q2 obsolete means not useful anymore or something that has been out classed like ipods or CDS
Q3 change is consumer wants or somone sees a gap in the market
Q4 an original idea is something that have never been done before
Q5 headphones have been adapted into airpods ect

[RichardNwosu-ql]

1A product are physical object meant for the satisfactory of The customer
2. Service are non physical product and which directly advance for the use for the satisfactory of the customer
3. Original ideas this is the ability to bring out imaginative ideas to life
4. Heated jacket
Mi

[BartolBeCool]

A product is something touchable and physical while a service is something you pay for in return for a act like a hair dresser

When a product dies out and looses popularity

Old business ideas modernized or market research for target audience and they found a gap

Something never done before

Multiple colored pens put into 1 pen