Edexcel Unit 1:Introduction to Small Business, Exam 28th May 2010

Hello Everyone,

For people who sat the Edexcel Introduction to Small Business on the Exam 28th May 2010.

Just wondering how your exam went?

Thanks :smile:

Reply 1

GIR

Emma1124

Hello Everyone,

For people who sat the Edexcel Introduction to Small Business on the Exam 28th May 2010.

Just wondering how your exam went?

Thanks :smile:

Hi,

Yes, I took that exam (multiple choice). I was actually quite pleased with it. I didn't find it that hard. It was much easier than I thought it would be. How was yours? Were there any questions that you were unsure about?

Reply 2

Master.K

18

Introduction to a small business....wtf? :lolwut:

It's called Competitive Markets!

Reply 3

abrarda1

Hey quick question. For Question 9 one of the questions was about minimum pricing and the possible economic effects. I drew a minimum price diagram and then shaded the area of excess supply. I also explained that it would encourage more people to farm and to supply more etc To evaluate that I said that it may not be sustainable in the long run because it may require large government funds to uphold (Opp cost). Also, it would depend on how high the minimum price was in comparison to the equilibrium cost and also consumers would face higher prices for their products... would this be correct?

Thanks in advance

Reply 4

Rimmiie

Master.K

Introduction to a small business....wtf? :lolwut:

It's called Competitive Markets!

haha

Reply 5

BlueMason

What did everyone get for the question about interest rates rising from 3% to 5%? How would this affect his business?

Reply 6

GIR

abrarda1

Hey quick question. For Question 9 one of the questions was about minimum pricing and the possible economic effects. I drew a minimum price diagram and then shaded the area of excess supply. I also explained that it would encourage more people to farm and to supply more etc To evaluate that I said that it may not be sustainable in the long run because it may require large government funds to uphold (Opp cost). Also, it would depend on how high the minimum price was in comparison to the equilibrium cost and also consumers would face higher prices for their products... would this be correct?

Thanks in advance

Hi,

Sorry, I think you're talking about the wrong exam. This one was multiple choice and unit 1.

BlueMason

What did everyone get for the question about interest rates rising from 3% to 5%? How would this affect his business?

Sorry, I can't remember the list of possible answers. Could you please remind me what they were?

Reply 7

BlueMason

Sorry, I can't remember the list of possible answers. Could you please remind me what they were?

The possible answers were this would either increase customer spending or decrease customer spending.

I put it would decrease i think :s-smilie:

Reply 8

GIR

BlueMason

The possible answers were this would either increase customer spending or decrease customer spending.

I put it would decrease i think :s-smilie:

Yes I put decrease as well. People must pay more interest so they are less confident on buying luxuries. I'm certain we got that one right. Any others you weren't sure about? I put marketing mix for the very last question- it confused me for a while.

Reply 9

BlueMason

Phew, my mate who got A* in his mocks put increase but i thought the same reasoning as you :wink:

erm not that i can remember any questions you found difficult?

Reply 10

GIR

I didn't really find them difficult but the one about the recruitment process- I put person specification, application form and job description. They seemed like the most likely answers.
Also, the one about how that lady in the passage of text could obtain long term finance- I chose bank loan, personal savings and profit. I wasn't sure about profit but it couldn't really be overdraft because isn't that short-term finance?

Thanks.

Reply 11

BlueMason

About the recruitment process i was torn between person and job specification and went with job specification :s-smilie:

I also put them three but profit again was the one i wasnt sure about, i think thats right though

Reply 12

GIR

Ok, thanks. Other people also put those but I guess we'll just have to wait and see until our results come. I hope you get what you need.

Reply 13

BlueMason

Yeah will have to see, yeah you too, what result are you wanting?

Reply 14

GIR

I'm hoping to get an A*. But, the grade we get is really down to how everyone else in the country did. If grade boundaries are high- even 1 or 2 marks could mean the difference between and A and A*.