2. Which two of the following are likely to be sent to a business by a person applying for a job? Select two answers - Edexcel - GCSE Business - Question 2 - 2019 - Paper 1

The appropriate answers are C) Retraining employees and E) Introducing new technology. Retraining helps improve employee skills, while new technology can streamline processes and enhance efficiency.

To calculate the average rate of return, use the formula:
$\text{Average Rate of Return} = \left( \frac{\text{Average Annual Profit}}{\text{Cost of New Machine}} \right) \times 100$
Substituting the values from Table 1:
$= \left( \frac{£100,000}{£400,000} \right) \times 100 = 25\%$
Thus, the average rate of return is 25%.

One benefit of having a good relationship with suppliers is that they are more likely to provide favorable discounts on raw materials. This can reduce variable costs, leading to increased profits, especially when suppliers are reliable and can ensure timely delivery of materials, which also minimizes production delays.

Improving environmental sustainability may make the business appear more ethical. This not only attracts environmentally conscious consumers but can also enhance the company's reputation in the market. As a result, customer loyalty may increase, potentially leading to higher sales and profitability.