Topic And End Of Theme Tests - Bishop Wordsworth's School

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APT Initiatives Ltdwww.apt-initiatives.comBusiness and Economics Specialists since Sept 1999Topic and End of Theme Testsfor Edexcel GCSE (9-1) BusinessTheme 1:Investigating Small Business98 ‘Section A’ Style Exam Questions7 Tests of 14 Questions5 Individual Topic Tests2 ‘End of Theme’ TestsDetailed Mark Schemes / AnswersMinimising Workloads, Maximising Performance APT Initiatives Ltd, 2017. Registered Office: Millstone Lodge, Eaton Upon Tern, Market Drayton, Shropshire, TF9 2BX. Registered inEngland no. 5211217. Vat registration no. 815 7506 26.

APT Initiatives Ltd, 2017All rights reserved. This publication is for use ONLY by the purchasing individual orthe staff and up to 60 students attending the purchasing institution, ie the individualschool / college, in any given year. No part of this publication may be made availableto any other individual or organisation, in any form, or by any means, without thewritten permission of APT Initiatives Ltd. Any person who does any unauthorised actin relation to this publication may be liable to criminal prosecution and civil claims fordamages.Published byAPT Initiatives LtdMillstone LodgeEaton Upon TernMarket DraytonShropshireTF9 2BXTel: 01952 540877Fax: 01952 541230email: ctor Art and illustrations: iStockphoto.comLicence to use the vector art and illustrations has been purchased fromiStockphoto.com. The copyright of these illustrations remains with iStockphoto or theoriginal supplier of the content, as the case may be. These illustrations cannot,therefore, be copied, used or adapted for use in other works without the priorpermission of iStockphoto.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessiFOREWORDThis resource consists of 7 sets of 14 ‘Section A’ style exam questions to test students'knowledge and understanding of the subject content required to be covered for EdexcelGCSE (9-1) Business - Theme 1: Investigating Small Business.The resource contains a set of 14 questions on each of the 5 topic areas listed inthe Edexcel Theme 1 specification, ie 14 ‘Section A’ style exam questions on each of thefollowing topics:1.11.21.31.41.5Enterprise and entrepreneurshipSpotting a business opportunityPutting a business idea into practiceMaking the business effectiveUnderstanding external influences on business.It also contains: 2 'end of theme' tests, ie 2 sets of 14 questions which test students’ knowledge andunderstanding of any aspect of Theme 1.A comprehensive range of possible answers are provided for each question posed.The resource enables students to be tested at the end of each topic covered in class, as wellas at the very end of their study of Theme 1, with the tests being issued either for homework,or undertaken in more formal exam conditions.The question papers could be used as worksheets - with students researching topics / subtopics independently to find answers to the questions posed.The answers section could also be used to support the teaching of each topic, due to thecomprehensive range of possible responses provided. Several words and phrases arehighlighted in bold in the answers section. These words / phrases are business concepts orissues that students need to learn about - as detailed in the Edexcel GCSE (9-1) BusinessSpecification.Each test reflects the sample assessment material produced by Edexcel for ‘Section A’ ofPaper 1, which is based on Theme 1. Each 30-35 minute test is, therefore, marked out of 35and largely consists of 1 and 2-mark ‘multiple-choice’, 3-mark ‘explain’ and 6-mark ‘discuss’questions. Edexcel’s sample assessment material for ‘Section A’ of Paper 1 also includestwo 2-mark ‘calculation’ questions. Calculation questions are included in the two ‘end oftheme’ tests contained within this resource, which test students on any aspect of Theme 1.They are also included in the individual topic tests - where topic content allows. Where topiccontent does not include financial or numerical business concepts, 2-mark questionsrequiring students to ‘give’ answers, which test recall of knowledge from the specificationcontent, are used instead. (‘Give’ is listed as a command word that may be used in EdexcelGCSE Business question papers - in Appendix 1 on p.29 of the Specification). APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessiiCONTENTSPage NoFOREWORDTopic 1: Enterprise and Entrepreneurship1TestAnswers28Topic 2: Spotting a business opportunity16TestAnswers1723Topic 3: Putting a business idea into practice32TestAnswers3340Topic 4: Making the business effective48TestAnswers4955Topic 5: Understanding external influences on business64TestAnswers6571END OF THEME 1 - Test 182TestAnswers8389END OF THEME 1 - Test 299TestAnswers100106 APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessTopic 1.1Enterprise and EntrepreneurshipNote to teachers: The specification for Topic 1 (and specificallyTopic 1.1.2 on ‘Risk and reward’) requires students to learnthat ‘profit’ is a reward for starting and running a business.Although the concept and calculation of profit is subsequentlyreferred to in Topic 3 (on ‘Business revenues, costs and profit’),it is assumed that in order to understand profit as a reward forrisk, a definition of profit which covers its basic calculation, ieprofit revenue - costs, is included in the teaching of Topic 1.This provides scope to test students’ quantitative skills early onin the course; hence the inclusion, in this first Topic Test onTheme 1, of two 2-mark questions requiring students to knowhow to calculate profit, as well as testing students’ moregeneral understanding of percentages. APT Initiatives Ltd, 2017.1

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business2TOPIC 1 Test: Enterprise and EntrepreneurshipAnswer ALL questions. Write your answers in the spaces provided.Some questions must be answered with a cross in the box . If you change your mind about ananswer, put a line through the box and then mark your new question with a cross .1(a) Which one of the following is an example of a service?Select one answer:(1)AMountain bikeBDental treatmentCEarphonesDLaptop(b) Which one of the following describes the role of an entrepreneur?Select one answer:(1)ATo work alone in a businessBTo buy shares in a new businessCTo work for a large companyDTo organise resources to start a business(c) Explain one reason why new business ideas come about.(3) APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business3(d) Explain one reward that entrepreneurs may enjoy from starting a new business.(3) (Total for Question 1 8 marks) APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business2(a) Which two of the following are examples of products (or goods) as opposed toservices?Select two answers:(2)ASchool uniformBJourney in a taxiCGeography lessonDTennis ballEPedicure(b) Which two of the following are least likely to be demonstrated by a successfulentrepreneur?Select two answers:(2)ATends to be cautiousBDetermined to succeedCPassionate about their business ideaDMakes timely business decisionsEUnwilling to take responsibilityThe table below shows some key financial information for a small business.(c) Complete the table with the two missing figures.(2)Year 1 ( )Year 2 ( )Revenue87 613Costs63 408 (ii)Profit(i) APT Initiatives Ltd, 2017.100 34938 7144

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business5(d) Explain one way in which a new business idea comes about.(3) (e) Explain one role of a business enterprise.(3) (Total for Question 2 12 marks) APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business36(a) Which one of the following does the acronym USP stand for?Select one answer:(1)AUnique sales pointBUnique sales promotionCUnique selling pointDUnique standing position(b) Using the information below calculate the profit for the business. You areadvised to show your workings.Revenue: 117 200Costs: 60% of revenue(2) (c) Explain one way in which a business can add value to its product or service.(3) APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business7(d) Explain one reason why it is important for a business to add value.(3) (e) Discuss the potential risks a potential entrepreneur should consider when decidingwhether or not to start a business.(6) . (Total for Question 3 15 marks)TOTAL FOR TOPIC 1 TEST 35 marks) APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessTOPIC 1: Enterprise and Entrepreneurship - Mark Scheme / AnswersQ1 (a) Which one of the following is an example of a service?ABCDQuestionnumber1(a)Mountain bikeDental treatmentEarphonesLaptopAnswerMarkB(1)AO1aQ1 (b) Which one of the following describes the role of an entrepreneur?ABCDQuestionnumber1(b)To work alone in a businessTo buy shares in a new businessTo work for a large companyTo organise resources to start a businessAnswerMarkD(1)AO1aQ1 (c) Explain one reason why new business ideas come about.Questionnumber1(c)AnswerMarkAward 1 mark for identification of a reason, plus 2 further marks forexplaining this reason, up to a total of 3 marks.(3)AO1a 1AO1b 2Teacher’s note: There is a range of possible 3-mark responses to thisquestion. Several examples are provided below. As explained in theforeword, several words and phrases are highlighted in bold in the answers.These words / phrases are business concepts or issues that the Edexcel GCSE(9-1) Business Specification specifically advises students to learn about.New business ideas can come about as a result of changes in (or,more specifically, advances in) technology (1).Advances in technology enable completely new products (or services)to be designed and developed that were not able to be produced (orprovided) using previous technologies (1). For example self-cleaning cars using nano-paint technology (1). self-driving cars using autopilot technology (1).Advances in technology also enable existing products, services orprocesses to be improved upon (1), for example, in terms of better performance (1). enabling products (or services) to be produced at lower cost (1). APT Initiatives Ltd, 2017.8

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessChanges in what consumers want can encourage the identificationand development of new business ideas (1). For example, people areincreasingly concerned about the impact of a business’s activities onthe environment (1), and this has led to development of new materials and processes to produce (and package) products (1). environmentally friendly products, such as electric-powered cars (1).New business ideas will be developed as existing products or servicesbecome obsolete (1). This can stem from advances in technology and/ or changes in attitudes / tastes / fashion (1). For example, DVDsmay eventually become obsolete as a result of the rise in internet andsatellite technology (1). This has enabled films to be downloaded, andhas led to a rapid increase in the number of satellite channels (1).Accept any other appropriate response. Answers that list more than onereason with no explanation will be awarded a maximum of 1 mark.Q1 (d) Explain one reward that entrepreneurs may enjoy from starting a new business.Questionnumber1(d)AnswerMarkAward 1 mark for identification of a reward, plus 2 further marks forexplaining this reward, up to a total of 3 marks.(3)AO1a 1AO1b 2There is a range of possible responses to this question. Several examplesare provided below.The main reward associated with entrepreneurship is businesssuccess (1) and the financial reward that this can bring in the form ofprofit (1). Profit is the amount which is left from revenue after allcosts have been deducted (1).Alternative. One of the main rewards associated withentrepreneurship is profit (1), which is revenue minus costs (1).Without the prospect of profit, an entrepreneur has no incentive tostart a business (1). The amount of profit made must be enough,compared to the risks and challenges involved (1), otherwise anentrepreneur will, in the longer run, leave the market, or even give upbeing an entrepreneur (1).There are also non-financial rewards associated with starting andrunning a business .Being your own boss / being able to work independently without anyinterference (1) can provide a great deal of freedom and flexibility (1)that working for someone else might not provide (1).An entrepreneur may also gain a tremendous sense of achievement(1) from establishing and building their own business over time (1)that working for someone else might not provide (1).Accept any other appropriate response. Answers that list more than onereward with no explanation will be awarded a maximum of 1 mark. APT Initiatives Ltd, 2017.9

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small Business10Q2 (a) Which two of the following are examples of products (or goods) as opposed to services?ABCDEQuestionnumber2(a)School uniformJourney in a taxiGeography lessonTennis ballPedicureAnswerMarkA, D(2)AO1aQ2 (b) Which two of the following are least likely to be demonstrated by a successful entrepreneur?ABCDEQuestionnumber2(b)Tends to be cautiousDetermination to succeedPassionate about their business ideaMakes timely business decisionsUnwilling to take responsibilityAnswerMarkA, E(2)AO1aThe table below shows some key financial information for a small business.Q2 (c) Complete the table with the two missing figures.Year 1 ( )RevenueCostsProfit87 61363 408 (ii)Year 2 ( )100 349(i)38 714Questionnumber2(c) (i)AnswerAdditional guidanceMark 24 205( 87 613 - 63 408)Do not accept any other answer(1)AO2Questionnumber2(c) (ii)AnswerAdditional guidanceMark 61 635( 100 349 - 38 714)Do not accept any other answer(1)AO2 APT Initiatives Ltd, 2017.

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessQ2 (d) Explain one way in which a new business idea comes about.Questionnumber2(d)AnswerMarkAward 1 mark for identification of a way in which a new business ideacomes about, plus 2 further marks for explaining this, up to a total of3 marks.(3)AO1a 1AO1b 2A new business idea may arise following a review of existing productsand services (1). This may result in adapting successful business products / services (1). addressing the faults or shortcomings of existing products / services(1). combining two or more existing ideas in a unique way (1). identifying a gap in a market not currently being filled (1).New, original business ideas may be generated throughbrainstorming (1). This involves a group of people being encouragedto put forward their ideas in relation to a specific question posed /problem to be solved (1). Once a range of ideas have been identified,any ideas not considered to be practical (eg due to difficulty securingresources, legal or ethical reasons) should be eliminated and ashortlist is determined for more careful consideration (1).Accept any other appropriate response. Answers that list more thanone way with no explanation will be awarded a maximum of 1 mark.Q2 (e) Explain one role of a business enterprise.Questionnumber2(e)AnswerMarkAward 1 mark for identification of a role, plus 2 further marks forexplaining this role, up to a total of 3 marks.(3)AO1a 1AO1b 2There is a range of possible 3-mark responses to this question. Severalexamples are provided below.One role of business enterprise is to produce goods or services (1).Goods are tangible ie physical objects that can be seen and touched(1) - for example - food, shampoo, newspapers, microwaves, cars,machine parts, computers, pens (1). Services are intangible, ie theycannot be seen or touched / They are things other people do for you(1), such as cutting your hair, looking after your money, or prescribingtreatment when you are ill (1).One role of business enterprise is to meet / satisfy customer needsand wants (1). People have basic needs that must be satisfied inorder to survive (1). These include food, water, warmth, shelter andclothes (1). APT Initiatives Ltd, 2017.11

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business - Theme 1: Investigating Small BusinessWants are not essential for survival but help to make life morecomfortable and enjoyable (1). These include microwaves,magazines, computer games and holidays (1).One role of business enterprise is to provide a product (or service)which meets / satisfi

APT’s Topic & End of Theme Tests for Edexcel GCSE (9-1) Business-Theme 1: Investigating Small Business APT Initiatives Ltd, 2017. 4 2 (a) Which two of the following are examples of products (or goods) as opposed to services? Select two answers: (2) A School uniform B Journey in a taxi C Geography lesson D Tennis ball E Pedicure (b

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