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2. Which two of the following are likely to be sent to a business by a person applying for a job? Select two answers - Edexcel - GCSE Business - Question 2 - 2019 - Paper 1
Question 2
2. Which two of the following are likely to be sent to a business by a person applying for a job? Select two answers. □ A Application form □ B CV □ C ... show full transcript
Worked Solution & Example Answer:2. Which two of the following are likely to be sent to a business by a person applying for a job? Select two answers - Edexcel - GCSE Business - Question 2 - 2019 - Paper 1
Step 1
Step 2
Which two of the following are likely to increase the productivity of a business?
Answer
The two factors that can increase productivity are Retraining employees (C), which enhances their skills and efficiency, and Introducing new technology (E), which can streamline processes and reduce time spent on tasks.
Step 3
Using the information in Table 1, calculate the average rate of return. You are advised to show your workings.
Answer
To calculate the average rate of return (ARR), use the formula:
ext{ARR} = rac{ ext{Average Annual Profit}}{ ext{Cost of New Machine}} imes 100
Substituting in the values from Table 1:
ext{ARR} = rac{£100,000}{£400,000} imes 100 = 25 ext{\,} \%
Thus, the average rate of return is 25%.
Step 4
Explain one benefit to a business of having a good relationship with its suppliers.
Answer
One benefit is that suppliers are more likely to offer discounts on raw materials. This can lead to lower variable costs for the business, ultimately increasing profitability. Additionally, a good relationship may result in suppliers being more reliable, ensuring timely delivery of materials and reducing the risk of production delays.
Step 5
Explain one advantage to a business of improving its environmental sustainability.
Answer
Improving environmental sustainability can enhance a business's reputation, making it more appealing to environmentally conscious consumers. This shift may increase customer loyalty and potentially lead to an expanded customer base, as more people prefer to support businesses that align with their values regarding the environment.