AS ECONOMICS AND BUSINESS

ASSESSMENT OBJECTIVES:
A01Demonstrate knowledge and understanding of the specified content.
% in AS =30% % in A2 =20% % in GCE= 25%

A02Apply knowledge and understanding of the specified content to problems and issues
arising from both familiar and
unfamiliar situations. AS= 30% A2= 20% GCE= 25%

A03 Analyse problems, issues and situations. AS= 20% A2=30% GCE=25%

A04Evaluate, distinguish between and assess appropriateness

of fact and opinion, and judge information from a variety of sources.
AS= 20% A2= 30% GCE= 25%
BRIEF SUMMARY OF EXAM:
AS Unit 1: Developing New Business Ideas *Unit code 6EB01
Externally assessed
Availability: January and June

Content summary:
This unit covers the characteristics students would need to develop to be successful in
business and how new or existing businesses generate their product or service ideas
and test them through market research. Students should also consider the competition
in the market; the economic climate; how the business might be financed and how
much revenue the idea might generate.

Assessment:
Examination of 1 hour 15 minutes in two sections.
Section A: supported multiple-choice questions.
Section B: questions based on data.
50% of the total AS marks
25% of the total GCE marks

AS Unit 2b: Business Economics *Unit code 6EB02

Externally assessed
Availability: January and June

Content summary:
This unit considers the market that the business may be operating in; how competition
in the market and macroeconomic change is likely to affect it and how businesses can
seek to minimise uncertainty through their actions.

Assessment:
Examination of 1 hour 15 minutes in two sections.
Section A: supported multiple-choice questions.
Section B: questions based on data.
50% of the total AS marks
25% of the total GCE marks

EXAMPLE QUESTIONS AND DEFINITIONS OF KEY ESSAY WRITING SKILLS

WORDS
SECTION A : Eight Supported multiple choice Section B contains some 7
questions for UNIT 1, or Six Supported multi choice to 12 mark ‘Assess’ or
questions for UNIT 2: For example… ‘Evaluate’ questions.
(1) (a) There will be a trade-off between an entrepreneur’s business ideas Do these questions like a
when: ‘mini-essay’.Follow the
same method that you
A two linked products are made in different countries have practised for
homework essays that
B time and resource limits force a choice between business ideas have the writing frame
sheets for guidance.
C competing formats such as ‘Blue Ray’ and ‘HD DVD’ enter the same
Make sure that you begin
market
by defining any relevant
D competitors engage in a price war ‘keyterms’:e.g.’inflation’.
[To get knowledge
Answer ( ) [1] marks.]
(b) Explain why this answer is correct [3] Make sure that within your
answer you refer to the
SECTION B (Data Response) context[a real or case
You will be given some data to read[case study], then FIVE questions study business]- [to
to follow, [UNIT 1] , or SEVEN questions [ UNIT 2] such as… apply your knowledge for
application marks.]
9. Outline TWO ways in which chocolate bar producers add value. [4] Make sure that you
explain and analyse your
10. Craig Sams has repeatedly started new businesses, even though each factors/arguments in
one of them has been a success (Evidence A). Briefly explain TWO detail [to get analysis
motives which could have led him to set up several new businesses. marks.]
(6) Make sure that you weigh
up the arguments and
11. Examine TWO possible reasons to explain why Green & Black’s
their relative importance.
chocolate sells at a higher price than the other brands shown in
evidence D. (8) You must also end with a
judgement/conclusion
12. Assess the significance of TWO factors likely to have contributed to based on all your analysis.
the success of Green & Black’s. (8) [This will get you
evaluation marks.]
Use connecting words and
13. Craig Sams took a decision to sell Green & Black’s to Cadbury phrases like: ‘however’;
Schweppes (Evidence C), rather than to keep it a smaller, privately ’on the other hand’…etc.
owned business. To what extent is this decision likely to benefit
Green & Black’s? [12]
TOP TIPS:
1.LEARN all your ‘key terms’[‘toolkit’] definitions really well, and state them.[30% of
your AS marks are for ‘knowledge’- show what you know!]

2.Always remember to apply your knowledge to a real world or case study business
context to get application marks.

3. Follow the command word at the start of a question. E.g.’State’; ‘Explain’; ‘Assess’;
‘Evaluate’… etc. Don’t spend ages on a simple ‘state’ question that carries few marks. Do
spend time analysing the ‘for’ and ‘against’ arguments, and making a judgement/
conclusion for the ‘evaluate’ and ‘assess’ questions[for analysis and evaluation marks]

4. For evaluation: Make sure that your conclusion comes at the end of your answer.
Don’t make a judgement in the first sentence. This is a poor start. Start with a relevant
definition.

5. Remember that the exam is ‘ a mark a minute.’Don’t spend too long on the Section A
4 mark questions. Leave yourself enough time to tackle the Section B 8,12 or 14 mark
questions. You might even gain from doing Section B before Section A to ensure you
don’t run out of time.

6. There is strong evidence that practice improves performance on data response. You
will improve most if you try to learn from your own mistakes. Rather than just look at
the marks on work which has been handed back by your teacher, and then forgetting it,
think about where you missed marks and what you need to do to improve.

7. Remember that there is a definite technique to answering multi-choice questions:-

After choosing the correct answer from one of four options[ 1 mark], you have to explain
why this answer is correct, [ 3marks.] A maximum of 2 out of 3 marks are available if
the incorrect option is chosen. Similarly, a maximum of 2 out of 3 marks is available if
the entire focus is on why the other three options are incorrect.

8. Do lots of practice multi-choice questions, using the technique described in 7. above.

Working out where and why you have gone wrong on sample questions is a powerful
way of learning and improving.

9. Remember there isn’t just one right answer to evaluation questions. What matters is
that the judgement you reach fits the points you have explored.Mark schemes allow high
marks for positive or negative conclusions, as long as you see strengths and
weaknesses and develop an answer using all the assessed skills. If you can add a little
more sophistication by identifying conditions that your judgement depends on, or
acknowledging that short-run consequences will be different from the long run,[for
example], your evaluation score will climb.

10. For Unit 1 you are far better advised to develop two strengths and two weaknesses
to support a judgement than to list 20 points that you have no time to develop. This
approach makes time and space for real analysis and evaluation.