Podcast
Questions and Answers
What is one method of finance a business could use to grow?
What is one method of finance a business could use to grow?
How can a business use the design mix when developing products?
How can a business use the design mix when developing products?
Which method can an expanding business use for internal growth?
Which method can an expanding business use for internal growth?
What is one way a government can protect domestic businesses from foreign imports?
What is one way a government can protect domestic businesses from foreign imports?
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How can a business act more ethically?
How can a business act more ethically?
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What is an advantage of using a bank loan for business growth?
What is an advantage of using a bank loan for business growth?
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Why might a business redesign a product when using the design mix?
Why might a business redesign a product when using the design mix?
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What could be a result of imposing tariffs on imported goods?
What could be a result of imposing tariffs on imported goods?
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Study Notes
Business Growth and Finance
- A business could use a bank loan to finance growth, borrowing a set amount for a fixed period and repaying with interest in installments.
Product Development
- The design mix is a tool used to balance cost, function, and aesthetics when developing new products.
- Businesses can use the design mix to decide on the right balance between these factors, redesigning products to make them more affordable if necessary.
Internal Growth
- Developing new products is a method of internal growth, which involves adding features to existing products based on market research.
Government Protection
- Governments can protect domestic businesses from foreign imports by imposing tariffs on imported goods, increasing their price and making domestic products more competitive.
Ethical Business Practices
- Businesses can act more ethically by using fair trade suppliers, paying higher prices to producers in less developed countries and improving the standard of living of their communities.
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Description
Quiz questions on business finance methods, including bank loans and other approaches. Answer format requires identification and explanation of methods.
