business tips and questions | Revision Materials

Topical Questions

Most Business Studies examination papers are testing four different skills. These are: . knowledge with understanding. application. analysis. evaluation.
Knowledge with understanding. This is tested with the type of question that asks you to explain a particular term, for example, 'What is meant by market segment?' These are the type of questions where you will need to have revised the terms or definitions of the different topics.
Application. This means the examiner is testing whether you can apply your answer to the business given in the examination, for example, 'What do you think the business in the case study could do to increase sales?' Your answer must not just be a general explanation of how a business could increase sales, but how this specific business could increase sales. If you don't try to think in terms of the business given, you will lose a quarter of the marks across the whole examination papers. So this is a very important skill
Evaluation. This skill requires you to draw conclusions, make judgments or make recommendations, but they must be justified to ensure the marks are achieved, for example, 'Which would be the best form of finance for this business to use to pay for the expansion of its {actory?' The question does not just test evaluation but also tests knowledge with understanding, application and SOine analysis.

Advice for when you are about to take your external examinations.
Make sure you know the examination instructions. Read then1. on the front cover and obey them. Answer all the questions in the examination as there is no choice given.
Read each question carefully and pay particular attention to the command words. Highlight or underline the keywords in the question. Make sure you obey the command word, for example, if the question says 'state two examples' then don't explain them, but if it says 'explain...' then more than a simple statement is needed.
Make sure you read a case study carefully and apply your answers in the context of the case study. This is especially important in questions where you are specifically asked to do so.
Use all the information provided in the case study. Read the information carefully and underline key points.
Do not repeat the same answer in different sections - you do not usually gain double credit.
Use the number of marks available for a question as a guide to the number of points needed if you are not told how many to include.
Do not write a detailed answer to a question which is only worth 2 marks. However, if more marks are available then a detailed explanation will be needed. For questions using the command words for analysis and evaluation then fewer points will be required, but more in-depth discussion will be needed for the highest marks.
Make sure you understand how to achieve the higher levels question where a level response mark schedule is used. These are usually the ones that are using the command words for analysis and evaluation and carry a relatively large number of marks, for example, 6, 8, 10, 12 marks. (Your teacher can explain this to you.) .
Be aware of the time available. Use your time wisely and don't spend a lot of time trying to answer questions you are not sure about. Answer the questions you are more confident in answering and go back to the other questions at the end of the examination. Also, if you have finished the examination before the end then re-read your answers and try to add to them. If you run out of space then fill any space underneath the question or answer on spare paper.
Make sure the correct equipment is brought to the examination, such as pen, ruler, pencil, eraser and calculator.

The purpose of business activity
Types of business activity
Forms of business organization
Government and economic influences on business
Other external influences on business
Business costs and revenue
Business accounting
Cash flow planning
Financing business activity
Organisational structure
Managing a business
Communication in business
Motivation at work
Recruitment, training and human resources
Employee and employer associations
The Market and marketing
Market research
Presentation of information
The marketing mix: product and packaging
The marketing mix: price
The marketing mix: promotion
The marketing mix: place
Factors affecting production
Factors affecting location
Business in the international community
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