Question 1
Using the data in Extract A, calculate, to 2 decimal places, the income elasticity of demand for takeaway meals. You are advised to show your working.
(4)
Using Extracts B and C, explain one way in which Hot Chip could change elements of its design mix to reflect eating behaviours at fast food restaurants.
(4)
Assess the likely reasons for Hot Chip using mainly quantitative market research data.
(10)
Creating and setting up a business is one role of an entrepreneur.
Assess whether this is the most important role of an entrepreneur, such as Lord Somerleyton.
(12)
Hot Chip will employ a manager in each of its outlets. These managers could use a broadly autocratic or democratic leadership style.
Evaluate these two options and recommend which is the most suitable leadership style for a business such as Hot Chip.
(20)