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# Business Studies Questions The image contains a set of 6 business studies questions, each worth 3 marks. The answers to each question are required to follow a specific format, as follows: * One mark awarded for the identification of a method/way/approach * Two marks awarded for explaining the...

# Business Studies Questions The image contains a set of 6 business studies questions, each worth 3 marks. The answers to each question are required to follow a specific format, as follows: * One mark awarded for the identification of a method/way/approach * Two marks awarded for explaining the method/way/approach ## Question 2 Explain one method of finance a business could use to grow. * A bank loan * The business could borrow a set amount from the bank for a fixed period of time and repay it back in installments with interest. ## Question 3 Explain one way a business could use the design mix when developing products. * The design mix * A business could use the design mix to decide on the right balance between cost, function and aesthetics for a new product. If the product is too costly to make, it may be too expensive for customers to buy. In this instance, the business could decide to redesign the product, using cheaper components to make it more affordable. ## Question 4 Explain one method of internal growth for an expanding business. * Developing new products * A business may grow by developing new products. This may involve adding additional or different features to an existing product that have been identified through market research. ## Question 5 Explain one way that a government can protect businesses that operate in its own country from foreign imports. * Tariffs * A government can protect its domestic businesses from foreign imports by imposing tariffs on imported goods. This will increase the price of imported goods in the domestic market. Increased prices may make consumers choose to buy cheaper 'home' produced products instead of more expensive foreign products. ## Question 6 Explain one way a business can act more ethically. * Fair trade suppliers * Businesses can act more ethically by using fair trade suppliers. This means that the business will pay higher prices to producers who are located in less developed countries. This will help improve the standard of living of the suppliers' communities.