Green Spoon is a lunchtime café. At present, 70% of its payments are made by cash. The owner is considering two payment options.
Option 1: Continue accepting cash only, with no transaction fee
Option 2: Introduce contactless payments with a fee equal to 1.5% of each card sale
Justify which one of these two payment options Green Spoon should choose.
37 exam-style questions on Edexcel GCSE Business 1.5 Understanding external influences on business, covering 1.5.1a Business stakeholders and their objectives, 1.5.1b How stakeholders and businesses affect each other, 1.5.1c Conflicts between stakeholder groups, 1.5.2a Types of technology used by business, 1.5.2b How technology influences business activity, 1.5.3a Principles of consumer law, 1.5.3b Principles of employment law, 1.5.3c The cost impact of legislation, 1.5.3d Consequences of meeting legal obligations, 1.5.4 The economy and business, and 1.5.5 External influences. Each one has a worked solution and a mark scheme showing where the marks go.