PAPER 2A EDEXCEL GCSE BUSINESS QUESTION ONLY BUILDING A BUSINESS JUNE 2023

PAPER 2A EDEXCEL GCSE BUSINESS QUESTION ONLY BUILDING A BUSINESS JUNE 2023 Edexcel GCSE Business Paper 2a Section A ANSWER ALL QUESTIONS. WRITE YOUR ANSWERS IN THE SPACES PROVIDED 1 (a) Which one of the following documents would a business use to ensure it recruited a new member of staff with the right skills and qualifications Select one answer: A Person specification B Job description C Application form D Curriculum vitae (CV) (b) Which one of the following is an internal source of finance for a growing business? Select one answer: A Share capital B Loan capital C Selling assets D Stock market flotation (1) (1) (c) Explain one impact on a business of using technology in production. (3) (d) Explain one impact of pressure group activity on the marketing mix of a business. (3) (Total for Question 1 = 8 marks) 2 (a) Which two of the following are examples of product extension strategies? Select two answers: A Updating packaging B Increased advertising C Launching a brand new product into the market D Increasing the selling price E Reducing costs (2) (b) Which two of the following are disadvantages to a business of using job production? Select two answers: A There is less scope to make one-off products B Requires a large amount of expensive machinery C Production costs can be high as it is a slow process D Worker motivation may be low due to repetitive work E Labour costs can be high as skilled workers are required (2) Table 1 contains some information about a business. Sales revenue £450,600 Cost of sales £260,500 Gross profit £190,100 Other operating expenses & interest £165,200 Net profit £24,900 Table 1 (c) Using the information in Table 1 calculate the net profit margin. You are advised to show your workings. (2)