IGCSE Paper 1 Overview

Introduction

• Discussing structure and marking criteria for IGCSE Business studies paper.
• Emphasis on understanding specific requirements for marks.
• Aim: Provide guidance, model answers, and different styles of questions.

Structure of the Paper

• Duration: 90 minutes
• Total Marks: 80
• Questions Breakdown:
  • 4 questions total.
  • Each question consists of:
    • A: 2 marks
    • B: 2 marks
    • C: 4 marks
    • D: 6 marks
    • E: 6 marks
• Importance of reading the resource at the start of each question to gain application marks.

Question Types

A and B Questions (2 Marks Each)

• A Question: Example: "Identify two reasons why a business might offer training to its employees."

  • Focus: Low-level knowledge from revision.
  • Key point: Direct answers, avoid unnecessary analysis.
  • Example Answers:
    • Reason 1: Reduce mistakes made by employees.
    • Reason 2: Follow health and safety laws.

• B Question: Example: "Calculate the following values."

  • Focus: Calculation, either know how to do it or make a guess.
  • No application needed, just getting straight to the answer.

C Questions (4 Marks)

• Outline and apply knowledge to the specific scenario.
• Example: "Outline two possible effects of FBW's break-even chart if prices increase."
  • Knowledge and application required.
  • Example Answers:
    • Effect 1: Reduce break-even output (knowledge) below 500 watches (application).
    • Effect 2: Increase highest potential revenue above $95,000 (application).

D Questions (6 Marks)

• Structure answer in knowledge, application, and analysis.
• Example: "Explain two benefits to FBW of having full-time employees."
  • Knowledge point: More likely to be committed.
  • Application: Full-time employees, meaning lower labor turnover (consequence).
  • Second Benefit: Easier communication leading to higher quality products.

E Questions (6 Marks)

• Most challenging; structured in three paragraphs with balance.
• Example: "Is it better for a private limited company to use debt or equity for long-term finance?"
  • Structure:
    1. Knowledge + Analysis (for debt)
    2. Knowledge + Analysis (for equity)
    3. Conclusion evaluating both sides.
• Importance of addressing the business type (e.g. small business) in the evaluation.

Important Tips

• Always write in the margin to keep track of knowledge, application, and analysis.
• Be concise but clear in explanations.
• Focus on what the mark scheme is looking for.

Conclusion

• Key takeaway: Understanding the marking criteria is essential for achieving good grades.
• Encourage questions and offer further resources for revision.