QUESTION 1

• (a) (i) Define the term ‘service’ (line 1). [2 mks]
• (ii) Explain the term ‘sole trader’ (line 1). [3]
• b) (i) Refer to Fig. 1.1 and any other relevant information. Calculate HB’s share of the laundry service market. [4 mks]
• Analyse two factors which could affect the scale of HB.
• c) Explain one appropriate method of recruitment for Karen to find a new employee to do collections and deliveries. [2]
• (d) Evaluate appropriate promotion methods for HB to target the hotel laundry market. [11]

QUESTION 2

• (a) (i) Define the term ‘market’ (line 6). [2]
• a (ii) Explain the term ‘profit margin’ (line 6). [3]
• (b) (i) Refer to Table 2.1. Calculate the total profit made from selling oysters in 2020. [2]
• b (ii) Explain two possible reasons why the profit margin for the consumer market is higher than the profit margin for the industrial market. [4]
• (c) Analyse why two of the elements of the triple bottom line are important to LO. [8]