The document provides tips for answering exam questions in Business Studies. It discusses examining marking schemes, managing time, showing calculations, and making study tools. Specifically: 1) It advises checking the number of marks for each question to determine the appropriate level of detail needed in answers. More marks indicate more analysis is required. 2) It stresses the importance of time management, as Paper 1 questions require analytical responses despite being short. Students should focus first on easier questions. 3) Students must show their working when calculations are involved, to receive full marks.

1. EXAM TECHNIQUES
BUSINESS STUDIES

2. LEARNING
OBJECTIVES
 Understand the techniques
of answering the questions

3. TIPS TO ANSWER
 Tip 1: How Many Marks are Allocated for Each Question
 The numbers of marks allocated to each question are given on the right-hand side
at the end of the question.
 These marks give the student an idea as to how much detail they need to put into
their answers.
 A 1 mark question will mostly ask the student to ‘define’ or ‘give an example’ of a
keyword.
 If there are 2 marks involved then the student must know that the question requires
them to provide a definition and an example.
 Likewise, if there are more marks involved, then the question will ask the student to
‘outline’ about a particular keyword or given data response information.
 Such questions require providing a ‘definition, an example for application and some
analysis from the student.

4. Tip 2: Time Management
 Time management is a critical factor in Paper 1 as it is in other exam papers.
 Just the idea that Paper 1 has short answers and data response questions, makes it easier to
assume that managing time in this Paper will be a piece of cake.
 On the contrary, it is this illusion that makes the examination tricky.
 The questions may require short answers or data responses from students, but very often the
students
 forget they still have to answer based on the assessment objectives and marks allocated.
 This takes time and effort.
 Thus, this Paper requires the students to be attentive, quick and use their analytical knowledge.
 There is a certain amount of calculations that the student needs to spend time on.
 Furthermore, a thorough analysis and evaluation of the data provided in the Paper are vital.
 The best way to manage time in the examinations is the age-old trick of focusing on easy
questions first.

5. Tip 3: Showing Calculations
 In Paper 1 the student will find various questions that might require him or her
to do calculations based on the problems provided.
 It is important that the students show their full working and calculations steps to
get the full allocated marks.

6. Tip 4: Making Handy Tools to Remember
Key Concepts
 making flashcards and short notes to help remember and understand
keywords and concepts will benefit the students.
 Getting into the habit of highlighting key terms and question words in the
question can help students answer to point.
 Using study planners to keep track of progress and chapters studied will help
organize students.

7. IGCSE Business Studies 2022:
PAPER 1

8. SAMPLE QUESTIONS AND ANSWERS
Question 1:
Define ‘revenue’. (2 marks)
Price × Quantity sold. (2) The income of the business (1) from the sale of goods
or services. (1)

9. Question 2:
 UDig is a large mining company based in country B. UDig is in the private
sector. It supplies businesses in country B with 30% of the coal they need and
the rest is imported. UDig now has eight mines but plans to close two of
them. This will threaten 1800 employees with redundancy. The Managing
Director said: ‘I blame the appreciation of country B’s exchange rate and new
legal controls, including those to protect the environment. The Government
should help private sector businesses.’
 Outline how the appreciation of country B’s exchange rate might affect UDig.
(4 marks)
 Award 1 mark for each relevant point.
 Award 1 mark for each relevant reference to this business.

10. Answers might include:
• Imported products cheaper/have lower prices (1) making UDig less competitive (1) so local
businesses might go elsewhere for the 30% (1) leading to lower sales for its coal. (1)
• Not as competitive (1) so UDig may have to cut costs (1) by closing mines (1) and making
people redundant. (1)
• Not as competitive (1) so may have to reduce its profit margin (1) by lowering the cost of
coal (1) so not as much money to reinvest in the business. (1)

11. Question 3
Explain two factors UDig should consider when deciding which mines to close (6
marks)
 Firstly, award 1 mark for identification of each relevant factor (maximum of
2).
 Secondly, award 1 mark for each relevant reference made to this business
(maximum of 2).
 Third, award 1 mark for each relevant explanation (maximum of 2)

12. Answers might include:
• Level of output (1) where UDig extract the least amount of coal (1) could be
closed as it will make fewer sales revenue. (1)
• The number of employees (1) as 1800 jobs threatened (1) if close sites with
fewer employees the business may be able to save some of the jobs. (1)
• Ease of access (1) of the eight locations (1) as sites difficult to reach could help
lower transport costs. (1)
• Pollution levels (1) as new legal controls have been introduced (1) so high
polluting sites might be forced to close anyway. (1)

13. IGCSE Business Studies 2022:
PAPER 2

14. NOTES
 Paper 2 contains four questions based on a case study, provided as an Insert
with the Paper.
 Candidates must answer all questions and the whole paper adds up to 80
marks in total.
 Paper 2 is 1 hour and 30 minutes long and makes up for 50% of the total grade.
 All the assessment objectives mentioned above are assessed in this paper.
 From judging the candidate’s knowledge and ability to apply, analyze and
evaluate information, the examiners look at all aspects of the candidate’s
answers.

15. TIPS TO ANSWER
 Tip 1: Mark Allocations for Each Question
 Even in Paper 2 the marks rewarded for each question are allocated on the
right-hand side of the question.
 This gives the student an idea of how much time to give to the question and
what to write.
 Hence, the student will know what points need to be made in the answer and
what examples need to be given.
 The examiners will grade the answer based on how well the students have
addressed the requirements of the points needed to be made.

16. Tip 2: Referring or linking back to the case
study
 Firstly the ‘PEEL’ method is a very useful tip to use while answering essay or
long answers questions.
 Secondly, the assessment objectives that need to be kept in mind to answer
questions well are all taken into account in the PEEL method
 As a result, using the PEEL method will give a very well rounded answer that
addresses the assessment objectives

18. Tip 4: Techniques to Read the Case Study
Properly
 Underlining and highlighting are two techniques that students can use to read
the case study text properly.
 Hence, highlighting the important keywords, statistics, and question words help
students organize their answers in a methodical manner.
 So, it makes it easier for candidates to address the assessment objectives in
their answer.
 Due to this their answers stay on point and portray their skills of knowledge,
application, analysis and evaluation
 If students are not able to highlight, they can at least circle or underline to
organize their thought processes while answering.

19. Tip 5: Drawing Graphs, Illustrations and
Showing Calculations
 Wherever necessary as per the requirements of the question, making
illustrations, providing graphs and showing calculations will benefit the
students.
 These are all part of the analysis and evaluations assessment objectives and
will rank higher in terms of candidate grade allocation.
 Hence, graphs and illustrations are used to further improve the quality of the
candidate’s answer.
 Moreover, they help explain the theories and key concepts in IGCSE Business
Studies.

20. SAMPLE QUESTIONS AND ANSWERS
Case Study Insert:
 Bethany owns The BB Health Spa in Main City in country X. Economic growth has been
high for the last few years. The government of country X wants this growth to continue
so it has reduced income tax. However, it is also worried about inflation becoming a
problem so it has increased interest rates. The BB Health Spa is very busy and Bethany
is considering taking on a partner to help manage the business and give her more free
time. However, she has been a sole trader for 10 years and wants the business to stay
small. The customers of The BB Health Spa are people of all ages who are interested in
their health. Bethany employs two qualified workers to provide the treatments for
customers. Bethany herself also provides customers with treatments. In addition, she
does all the administration such as ordering inventory, accounts and paying invoices
when the spa is closed. The BB Health Spa still uses the original treatment equipment
which was purchased when the business started. Some spas nearby have the latest
equipment but these spas charge much higher prices than The BB Health Spa. Bethany
records all the financial transactions by filling in accounts books by hand. This takes her
a long time. Customers book appointments using the telephone and Bethany later
telephones them to remind them when an appointment is due.

21. Question 1:
 Q. Explain two possible reasons why Bethany wants the business to remain
small. (8 Marks )
 Award 1 mark for each relevant reason (maximum of two reasons):
• To stay as her own boss
• To make all the decisions
• No one to fall out with
• No one to share the profits with
• Size of the market – not able to expand
• Better communication with customers and employees
• Easier to control
• Lack of capital to expand
• Satisficing/happy with the level of profit.
 Award a maximum of 3 additional marks for each explanation – one of which must
be applied to this context – of the reasons why the owner wants the business to
remain small.

22. Model Answer
 To stay as her own boss (1) as Bethany has run the business successfully for
10 years (1) and she does not want anyone telling her what to do or
disagreeing with her decisions. (1) The business idea is all her own and so she
does not want any conflict which might cause important decisions to be delayed
giving problems for the business. (1)

23. Question 2
 Q. State the advantages and disadvantages of the following three ways to
achieve good quality service at the health spa:
• Only employ highly trained workers
• Record all customer complaints
• Buy only the best quality materials to use in the health spa.
 Which do you think is the most important way? Justify your answer. (12 marks)

24. Model Answer
(9 – 12 marks)
 Sound application of knowledge and understanding of relevant business
concepts using appropriate terminology.
 A detailed discussion of two or more ways.
 Well-justified conclusion/recommendation.
 Candidates discussing all three factors in detail, in context and with well-
justified conclusion/recommendation including why the alternative points are
rejected should be rewarded with the top marks in the band.

25. (5-8 marks)
 Sound application of knowledge and understanding of relevant business
concepts using appropriate terminology.
 A detailed discussion of at least one factor.
 Judgment with some justification/some evaluation of choices made.
 Candidates discussing two or more factors in detail and applying it to the case
should be rewarded with the top marks in the band.

26. (1-4 marks)
 Limited application of knowledge and understanding of relevant business
concepts.
 Limited ability to discuss factors with little/no explanation.
 Simple judgment with limited justification/limited evaluation of choices made.

27. Key terms
 C:UserslilyDesktopWSMKLI 2022&2023Business Studiescaie-igcse-business-
studies-0450-definitions-v4.pdf