c) A firm is not maximising profits or selling at the cheapest price because of its higher ethical standards (see the Firm 2 example in the notes). How might the goods be marketed (advertised) to take advantage of this position? [2] 4. New Ventures a) Explain how you would go about finding a good area to start a business. Use a real life example to support your answer [3] b) Briefly screen this business idea using the four points from the notes.[3] c) Explain briefly whether you would prefer debt financing or equity financing and why [2] Values (what does the entrepreneur believe in?) Firm 2: The entrepreneur believes in fair treatment of people wherever they are. Child labour is not acceptable just because it is legal in a distant country. Ethical Position Firm 2: Golden Rule. Canadians don't want their children to have to go to work, so they shouldn't expect children in other countries to go to work, even if it means Canadians get cheaper goods. Loyalties (who does the entrepreneur care most about?) Firm 2: The entrepreneur cares more about fair treatment of children than maximising profits. Decision Firm 2:, the firm will not import sugar from Bolivia