2. (a) Which two of the following are examples of secondary market research? Select two answers - Edexcel - GCSE Business - Question 2 - 2020 - Paper 1

The correct answers are C - Packaging and D - Raw materials. These costs fluctuate with the level of production, unlike fixed costs such as rent and insurance.

To calculate the net cash flow, we first calculate the total revenue from selling 200 units at £15 each:

Total Revenue = Selling Price x Number of Units = £15 x 200 = £3,000.

Next, we will add up the total costs:

Total Costs = Rent + Wages + Advertising = £500 + £1,000 + £150 = £1,650.

Now, we can find the net cash flow:

Net Cash Flow = Total Revenue - Total Costs = £3,000 - £1,650 = £1,350.

One disadvantage of starting a small business as a partnership is that all partners are jointly responsible for the debts and liabilities of the business. This means that if the business fails, each partner's personal assets could be at risk, making it a liability.

One way the marketing mix may change is through adjustments in product offerings. For instance, if consumer preferences shift toward healthier options, a small business may need to modify its product line to include healthier choices, thus affecting its product strategy within the marketing mix.