Which term refers to products or services that are new to both customers and to the business?

• A. Internet
• B. Interdependence
• C. Innovations
• D. Import

Answer: (C)

Innovations describe products or services that are new to both the business and its customers. In entrepreneurship, an innovation is something the company hasn’t offered before and that customers haven’t experienced in that form, delivering new value or solving a problem in a new way. Among the options, only innovations inherently signal that novelty to both sides; the Internet is a technology, interdependence refers to mutual reliance, and import is a process of bringing goods into a country. So innovations is the best fit for “new to both customers and to the business.”