AS OCR Business 19th and 24th May 2016

How did you find it?

ah i think we did differnet exam boards then.
I am on OCR and didnt have any questions like that trying to find an unofficial mark scheme but having no luck.

It was okay the 20 marker was quite nice but I messed up the income elasticity question though!

Didn't end up getting a final answer as I moved on and ran out of time, what about you?

Can you remember what the question was?

Something about income elasticity of Aston Martin, and then a 4 marker about why working this out would be beneficial I think

Something about income elasticity of Aston Martin, and then a 4 marker about why working this out would be beneficial I think

I got 45 too?! But I thought I was wrong

For those doing Business AS OCR new spec from 2015 The PED question was to work out the change in Quantity Demanded for the animal business following a change in price, they gave us the PED of -3.75 and the question was tough as it wanted us to do reverse PED out of own knowledge, the price change was 20% from £120 to £96
and if PED =3.75 then to work out % change in QD you had to find out what would give you 3.75 if divided by 20, so you had to do 3.75 x 20 = 75% so following a 20% change in price, then demand would increase by 75% as it is Price elasticity of Demand, in the previous question, it told us that there was 3 orders a month and yearly it would be 36, so 36 X 1.75 (75% percentage increase) would = 63

Very tough question and wouldnt of expected many to understand that unless they have done advanced maths

The question above which needed calculation was 4320 from 120x3 then x12
And for the benefits of faik being a entrepreneur I'd self realisation and more profit