Quiz: Innovation, Research and Development - Definitions
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Welcome to this quiz on Innovation, Research and Development! Test your knowledge with 10 questions and strengthen your understanding of these important business concepts.
What is meant by 'innovation' in business?
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Which of the following could be examples of innovation? (Select all that apply)
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Research and development (R&D) involves activities aimed at creating {{blank0}} and improving existing {{blank1}}.
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Match the items on the left with their correct pairs on the right
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What is the main purpose of research and development (R&D) in a business?
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A company invests £50,000 in R&D to develop a new product, which generates £200,000 in revenue. What is the return on investment (ROI) as a percentage?
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Which of the following is NOT a benefit of innovation for a business?
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Match the items on the left with their correct pairs on the right
Which of the following are common risks of investing in R&D? (Select all that apply)
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An {{blank0}} is a new product or service, while {{blank1}} focuses on improving what already exists.
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