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    348 views5 pages

    Mock Exam Business - LANA GORIC

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    lana.goric

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    © All Rights Reserved
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    King's Fp ines oh Year 12 Assessments January 2024 AS Level Business — Paper 1 Duration: 1 HOUR & 30 MINS + any additional time Total Marks: 31 StudentName:__LANA GOR! ‘This paper consists of 3 pages. ‘Material Required: Assessment paper, Lined Paper, Pen. Submission Deadline: ‘Submission Type: PDF Instructions: 1. Please answer all questions set. ‘Academic Honesty Honour Pled; 1 affirm that this work is entirely my own and that I have not used any dishonest means to answer this examination, nor have I received or given any unauthorised help on this exam, King’s InterHigh Year 12 Assessments 2022 Scanned with CamScanner King’s InterHigh 1. Define the term ‘laissez-faire leadership’. (2 marks) 2. Explain two disadvantages to employees of autocratic leadership. (3 marks) 3._ Define the term ‘market segmentation’. (2 marks) 4, Explain two benefits to a business of market segmentation. (3 marks) 1 Bilal's Homes (BH) Bilal is a sole trader, who buys and sells apartments for a profit Bilal left university two years ago and moved back to his parents home in city W. He lacks social skils but he has ‘always been good at self-management, so he wanted to stat his own business. Bilal bought his frst apartment using money that he borrowed from his parents. He spent ‘some time and money improving and upgrading the apartment and was able to sel for a profit. Bilal paid his parents back and then had enough capital to purchase his second ‘apartment. Since then, Bilal has bought three more apartments. Table 1.1 shows some financial details about the last three apartments that Bal bought and sold Table 1.1: Financial details about the last three apartments that Bilal bought and sold ‘Apartment | Purchase price | Cost of improvements | Selling ss) and upgrades (s)_| price ($) A 58000 ‘3000 6000 | 80000 8 120000 410000 {59 00a] 150000 c ‘65000 15000 @ 000] 70000 Bilal has done some market research and has found out that customer demand for buying apartments in cy W is increasing. He knows that he needs to purchase as many ‘apartments as he can before the prices increase. However, he is limited by the capital he tras in the business. Bilal has been approached by Sophie, another entrepreneur, who also buys and sells ‘apartments. Sophie would like to enter into a business partnership with Bilal. She has provided Bilal with some details from the last year about her business. Bilal can use this ala 10 help him decide i he would lke to enter into the partnership (see Table 1.2) ‘Table 1.2: Details about Sophie and her business in 2020 Number of apartments bought and sold Number of apariments that made a profit ‘Number of apartments that made a loss 2 Profit margin | 11% Capital available at end of year '$150000 ‘Sophie's main competencies ‘Social skills and social awareness, 5. Define the term ‘market research’ (line 15). (2 marks) 6. Recommend whether Bilal should enter into a business partners! recommendation. (11 marks) Scanned with CamScanner 10 15 28 with Sophie. Justify your Year 12 Assessments 2022 7. Analyse the benefits to a business of recruiting employees from outside the business. (8 marks) Scanned with CamScanner O Laisser -Faire leadership is am extreme Hype of democtratic mena- gement, where workers /employees mave almost all decisions and 4nere is litle = 40 none mtevvennon from tne manager, @ 7 Autocrotic leadership SO ype Of monagement , where the monag maves all the decisions and there 1S Olmoxt none Input Aron workers. They hore only ane-woy Communicoton Anck close Super vision wren woreing. Fist disodventage is That the workers | employees con ecome dewohvated and tess innovotwe as they Oe tad nowto do ererytning. Second Aigadvantage is trot workers con’t reach «= Fheir Full potentiot in Work ona neip the business to grav, @ Hower Segmentation meons thot Q Dusiness alters Heir product: Ona services to suit specific segments of the morket -grovps of Pecple = who Bowe JeOgTAphic, Cemographic OF Prychegraphic character istics, @F Fist venefit of a business using = marleet segmentation 1S tne ability to target a larger ghae of the warket by producinc moe goods to suit different — segments of the morket ONA therefor Merease —hergase their morvet share, The second advantage is in {he pusiness pecomes more rcognisalle oS it suits more +nen SuSt OMe segment oF the morket aiid Con increase it’s price and thereGre it’ profit. © — Norwet earn 15 tre rocess oF identifying —_ Consumer’ needs, wants ond preferences whitn & market

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