Edexcel GCSE Business Studies Paper 1: Investigating small business June 2023 question paper 1BS0/01

Which one of the following could market mapping be used for?

Select one answer.

Which one of the following is an impact of a decrease in interest rates?

Select one answer.

Explain one advantage of starting a business as a private limited company.

Explain one way the internet may affect where a small business chooses to locate.

Which two of the following are examples of customer needs?

Select two answers.

Which two of the following are roles of an entrepreneur?

Select two answers.

Table 1 contains information about a small business.

The business increases the selling price of its product to £6.50 per unit.

Using the information in Table 1, calculate the decrease in the break even level of output. You are advised to show your workings.

Explain one way a small business could become more competitive.

Explain one advantage to a small business of meeting its legal obligations.

Which one of the following could a small business use to add value?

Select one answer.

Figure 1 shows the number of units sold per month by a business from February to April. The selling price for each unit was £5.20

Using the information in Figure 1, calculate the revenue for March. You are advised to show your workings.

Explain one disadvantage to a small business of not paying its employees on time.

Explain one advantage to a small business from using retained profit as a source of finance.

Discuss the impact on a small business from adapting existing products to develop new business ideas.

In the Source Booklet, look at Figure 2 and read Extract A, then answer Questions 4, 5 and 6.

Outline one way that financial information in a business plan could help Lili Heating Ltd.

Analyse the impact of non-financial aims on Amelia’s decision to start Lili Heating Ltd.

Table 2 shows forecasts from the business plan for month one of Lili Heating Ltd.

Using the information in Table 2, calculate Lili Heating Ltd ’s forecasted closing balance at the end of month one. You are advised to show your workings.

As part of her market research Amelia collected quantitative research from the Birmingham City Council website. Some of this information can be seen in Table 3.

(Source: adapted from https://www.birmingham.gov.uk/downloads/file/ 10293/2017_birmingham_population_tool)

Using the information in Table 3, calculate to 2 decimal places, the percentage of people in the age group 45–49 that are female. You are advised to show your workings.

Analyse the impact on Lili Heating Ltd of using the internet to collect secondary market research.

State one element of the marketing mix, other than price, for Lili Heating Ltd.

Outline one reason why the government would want Lili Heating Ltd to be successful.

In order to make the business more successful, Lili Heating Ltd is considering two options:

Option 1: offer a discounted price to female customers

Option 2: use social media to promote the business.

Justify which one of these two options Lili Heating Ltd should choose.

In the Source Booklet, look at Figure 3 and read Extract B, then answer Question 7.

State one example of a risk for an investor in Ripple.

Table 4 shows the percentage of different energy types used to produce electricity in the UK in 2018 and 2019.

(Source: adapted from https://smarterbusiness.co.uk/blogs/ where-does-the-uk-energy-supply-come-from/)

Using the information in Table 4, identify which type of energy use declined the most between 2018 and 2019.

Outline one benefit to customers from Ripple asking questions to identify its customer needs.

In order to help small businesses, such as Ripple, become successful the UK government is considering two options:

Option 1: reduce the tax paid by small businesses

Option 2: provide free training if businesses recruit new employees.

Justify which one of these two options would have the most significant impact on the success of Ripple.

Evaluate the importance of price in Ripple ’s marketing mix. You should use the information provided as well as your knowledge of business.