1
(a) Which one of the following is an element of the design mix?
Select one answer - Edexcel - GCSE Business - Question 1 - 2019 - Paper 1
Question 1
1
(a) Which one of the following is an element of the design mix?
Select one answer.
☐ A Cost
☐ B Price
☐ C Product
☐ D Quality
(b) Which one of the following is... show full transcript
Worked Solution & Example Answer:1
(a) Which one of the following is an element of the design mix?
Select one answer - Edexcel - GCSE Business - Question 1 - 2019 - Paper 1
Step 1
Which one of the following is an element of the design mix?
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The correct answer is B: Price. In the design mix, price plays a crucial role as it affects the perceived value and marketability of the product.
Step 2
Which one of the following is an example of an internal source of finance?
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The correct answer is A: Retained earnings. Retained earnings refer to the profits that a company has not distributed to shareholders and can be used for reinvestment in the business.
Step 3
Explain one advantage to a business of producing a high quality product.
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Producing a high quality product can lead to increased customer satisfaction. When customers are satisfied with the quality of a product, they are more likely to make repeat purchases and recommend the product to others. This not only helps in building customer loyalty but can also lead to higher sales and market share for the business.
