Shask
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#41
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#41
(Original post by Brapper)
i think that they will gain at least a few marks for that?? How do u no its completely wrong your not exactly the examiner are you???

Maybe a few at most. I'm not the examiner no, but I can tell a right answer from a wrong one

Do you have to be an examiner to know 1+1=2?

(Original post by x69-xjessx-69x)
I Got Stuck For Sources Of Fianance As It Was A Long Term Source Of Finance Cos It Was So Much Money So Obviously I Used A Loan But I Didnt Think U Could Use A Mortgage Cos He Was Actually BUILDING The Cafe Or Is A Mortgage On Land?? Anyway I Sed 2 Apply 4 A Grant As He May Be Improving The Area An The Advantages Of This Is That He Wudnt Have 2 Pay It Back But He May Feel Obliged To Take On Workers In That Area And They May Not Be Appropriate For The Job Wa Do U Think??? Also I Dont Think Family And Friends Could Be Used Cos Its Such A Large Amount Of Money And Its Long Term .. I Cud B Wrong Dont know Tho
Sounds actually better than most answers, thinking outside the box = good

(Original post by x69-xjessx-69x)
Oh And Also For The Impact I Said About Competition Lowering Prices, Introducing Special Offers, Both Of Which Peter Could Find Difficult To Compete With So May Lose Customers Which Will Make Him Less Successful Bt I Also Said If Peter Is More Successful Another Business May Close Which Means More Customers For Peter And A Larger Market Share So Makes Him More Succesfull Is Da Right?
I put the same first bit as you, I think it's right, that was a dodgy question though.
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Brapper
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#42
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#42
Maybe a few at most. I'm not the examiner no, but I can tell a right answer from a wrong one

Do you have to be an examiner to know 1+1=2?
Alright fair enough, but the thing is it may not be right and it may not be completely wrong and u sed that it was wrong! How do u no, its not like you have the mark scheme or anything?
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x69-xjessx-69x
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#43
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#43
Welll On Da Mark Scheme It Does Say Possible Answers But Then Says Accept Any Reasonable Answer So Basically Anything You Say That Is Right Or Relevant You Will Get The Mark But The Marks Arent Based Around What Is Right But More Over How You Apply It To The Case Study. A Source Of Finance Is A Debenture Which Would Be Correct In A Question Asking For A Source Of Finance BUT If Suzie Was A Sole Trader It Would Not Be Applicable So Is Therefore Wrong U Catch My Drift? Ha Ha
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kaderk
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#44
Report 11 years ago
#44
(Original post by Shask)
Lol yep we think alike, I said he should abandon it too




Mortgage and retained profit

I said he should use a combination of both
the case study said that he couldnt stretch his personal finances to 180grand so i was reluctant to use retained profits - also its a new business, it hasnt got any profits yet lol? it's probably right but i was worried about that fact so i chose like family/friends lending you money
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nhoemzx
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#45
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#45
I did AQA business GCSE paper 3 today too. Luckily, I got extra time for my exam because I've been in UK less than 2 years, anyways, i am so glad because i got extra time for using dictionary but I do not really use dictionary, so I got more time to finish my exam.
I realized that this paper was little easier than paper 1. For " financial source", I mentioned two ways to get financial:
1. Borrow money from his friends or members of family. I also could sell his properties ( car, house, whatever is valuable...) -- If he uses these methods then he wont need to pay interest.
2. He can get a loan from bank ( I can not see the points when someone here wrote about mortgage). If he use this method then he will need to pay interest.

Therefore, I recommended him to use method 1 if possible because he does not need to pay interest, so it keeps him working without stressful. On the other hand, he still can use second method for backup:p:

For question "...Factories...600 people..." I mentioned two ways it might affect his cafe:

1. When there factories closed then 600 people will become unemployment so they will think twice before they're spending their money. They will not go to cafe while they can not earn money, so the customers would go to Peter cafe might be decreasing. ( I just think that in a town, 600 people are a lot of the town population)
2. Some people of 600 people will want to find a new job or setup a new company if they are unemployment. So some of them can open cafe shop ====> get more competitors.

I advised him to continue with his plan. He is doing business so he should take some risks if want to be successful. He should change his plan is more flexible. For first issue: reduce price ( attract customers, who don't really have much money). For second issue: produce some plans to compete with competitors ( Offer like: drink 10 days get 1 day free....)

Above I tried to mentioned everything i could remember. So can anyone give me some comments? Thanks
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Shask
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#46
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#46
(Original post by kaderk)
the case study said that he couldnt stretch his personal finances to 180grand so i was reluctant to use retained profits - also its a new business, it hasnt got any profits yet lol?
Nah, I can remember specifically saying "Also, the business has been operating very successfully for 10 years, so I would imagine it has a LOT of retained profit to use."

That was taken out of the case study
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IAreScientist
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#47
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#47
(Original post by Shask)
Hm ? How did you get it the wrong way around ?
I put they start with a high price, not a low price.
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Simplyobsessed
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#48
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#48
I think it was really really easy, but then I did foundation for business
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Simplyobsessed
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#49
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#49
(Original post by nhoemzx)

For question "...Factories...600 people..." I mentioned two ways it might affect his cafe:

1. When there factories closed then 600 people will become unemployment so they will think twice before they're spending their money. They will not go to cafe while they can not earn money, so the customers would go to Peter cafe might be decreasing. ( I just think that in a town, 600 people are a lot of the town population)
2. Some people of 600 people will want to find a new job or setup a new company if they are unemployment. So some of them can open cafe shop ====> get more competitors.

I advised him to continue with his plan. He is doing business so he should take some risks if want to be successful. He should change his plan is more flexible. For first issue: reduce price ( attract customers, who don't really have much money). For second issue: produce some plans to compete with competitors ( Offer like: drink 10 days get 1 day free....)
This came up on foundation too.

I said it could be better for him because the 600 people who are now unemployed could be looking for work, meaning that he might get more applicants and therefore could possibly get a better employee overall.

then I said that the factories that closed could be responsible for producing some of the supplies he needs and built up on that point

I cant remember what I advised
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Kiloy
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#50
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#50
oh myyy u know that how can he raise finance q. i was thinkin abt riting loan etc but thn i got completely the rong end of the stick. i said he could set up a private limited company, sell shares 2 friends and family or set up a plc and sell shares on the stock market does any 1 think ill get marks for dat? cos realistically capital can be raised by doing that even though the obious choices are loans etc???
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Shask
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#51
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#51
(Original post by Kiloy)
oh myyy u know that how can he raise finance q. i was thinkin abt riting loan etc but thn i got completely the rong end of the stick. i said he could set up a private limited company, sell shares 2 friends and family or set up a plc and sell shares on the stock market does any 1 think ill get marks for dat? cos realistically capital can be raised by doing that even though the obious choices are loans etc???
Well you certainly deviated from the question a little bit, but I think it's definitely viable for a lot of marks. Because you did use the case study - he was thinking about setting up as a LTD company, and in doing so could sell shares as a form of financing the operation. But I think the second part (about the PLC ) is unrealistic, as you need to have huge capital to do so and he's really only a small sole-trader who owns a gardening centre.. Did you do a conclusion, though? If you did, and if it was a 12 mark question, you#re pretty much guaranteed to get 9+ marks
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SS92
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#52
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#52
it depends if it was relevant to the case study
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Kiloy
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#53
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#53
(Original post by Shask)
Well you certainly deviated from the question a little bit, but I think it's definitely viable for a lot of marks. Because you did use the case study - he was thinking about setting up as a LTD company, and in doing so could sell shares as a form of financing the operation. But I think the second part (about the PLC ) is unrealistic, as you need to have huge capital to do so and he's really only a small sole-trader who owns a gardening centre.. Did you do a conclusion, though? If you did, and if it was a 12 mark question, you#re pretty much guaranteed to get 9+ marks

Yh i did a conclusion i said he shud choose a private limited company cos in a plc he can get taken over lose control, business not private etc... and a private limited company will allow him to keep control although it may take long to raise the funds needed..
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