Buss1 aqa jan 11 revision thread

if this applies to you please comment so we can help each other

I've done this already last year, but milk as many marks as possible from that exam. The ease of it compared to units 2,3 and 4 is unbelievable.

Things to do:

Remember the calculations if you want an easy first couple marks, last year I think the calculation question was the net profit margin, though I can't really remember.
Exam essay question practice. Essential.
Content, Application, Analysis, Evaluation. Drill these into head. Remember 9 mark question = NO evaluation required.

Good luck in January!

(edited 13 years ago)

Reply 2

justincredible1

could you mark this and see what you think

Discuss the idea that businesses exist to make a profit (10 marks)

Profit is the money you make after costs have been subtracted. Private sector businesses are privately owned by shareholders, theses businesses focus on make a profit in order to survive otherwise if they do not generate a sufficient amount of money they will collapse and go bankrupt because they would be making a loss so this is why there main priority is to make a profit.

In order for a business to make a profit they sell goods and service in which they sell to customers, also businesses sell necessities which customers need such as electricity and gas this tends to be inelastic and a business will sell luxury good which customers want such as a holiday this tends to be price elastic, this supports the idea that a business aims to make a profit.

However, some businesses give up some of there profit in order to focus on other objectives such as reputation and a good brand image but this depends on the size of the business as a big international firm may focus more on quality of there products whereas smaller businesses may focus on profit.

Furthermore, public sector businesses are owned by the government and don’t exist to make a profit as they are funded by the government and providing a service to the community and so it disagrees with the idea that a business aims o make a profit as profit for a public sector business isn’t that important as they don’t aim to survive and are unlikely to be bankrupt as the government will generally bail them out .

Reply 3

justincredible1

Original post by Bektas

Discuss the idea that businesses exist to make a profit (10 marks)

Profit is the money you make after costs have been subtracted. Private sector businesses are privately owned by shareholders, theses businesses focus on make a profit in order to survive otherwise if they do not generate a sufficient amount of money they will collapse and go bankrupt because they would be making a loss so this is why there main priority is to make a profit.

In order for a business to make a profit they sell goods and service in which they sell to customers, also businesses sell necessities which customers need such as electricity and gas this tends to be inelastic and a business will sell luxury good which customers want such as a holiday this tends to be price elastic, this supports the idea that a business aims to make a profit.

However, some businesses give up some of there profit in order to focus on other objectives such as reputation and a good brand image but this depends on the size of the business as a big international firm may focus more on quality of there products whereas smaller businesses may focus on profit.

Furthermore, public sector businesses are owned by the government and don’t exist to make a profit as they are funded by the government and providing a service to the community and so it disagrees with the idea that a business aims o make a profit as profit for a public sector business isn’t that important as they don’t aim to survive and are unlikely to be bankrupt as the government will generally bail them out .

Buss1 aqa jan 11 revision thread

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