Section 1 Business and its

environment (AS Level)

2023
1.1 Enterprise
Section A
1 (a) Define the term opportunity cost. [2]
(b) Explain one quality an entrepreneur needs for business success. [3]
1.2 Business structure
Section A
1 (a) Define the term social enterprise. [2]
(b) Explain one weakness of family businesses. [3]
1.4 Business objectives
Section A 4 Analyse one way in which ethics
may influence the activities of a business. [5]
Section B 5 (a) Analyse two reasons why it is important
for a business to set SMART objectives. [8]
Section B 6 (a) Analyse two reasons why a
business should set SMART objectives. [8]
Section B 5 (b) Evaluate the view that a mission statement is only
important to a bank if it significantly influences the strategy and
tactics of that business. [12]
1.5 Stakeholders in a business
Section A 4 Analyse one responsibility to a
business of an employee as a stakeholder. [5]
Section A 4 Analyse one way in which conflict
between stakeholders may affect a business. [5]
Section B 6 (a) Analyse two reasons why changing a
business’ objectives might affect its shareholders. [8]