AQA AS BUSINESS 7131/1 Paper 1 Business 1 Version: 1.0 Final *jun2371311QUESTION PAPER & MARKING SCHEME/ [MERGED] Mark scheme June 202301* IB/G/Jun23/E11 7131/1

AQA AS BUSINESS 7131/1 Paper 1 Business 1 Version: 1.0 Final *jun* IB/G/Jun23/E11 7131/1 For Examiner’s Use Question Mark Section A 11 12 13 14 15 16.1 16.2 17.1 17.2 TOTAL Friday 19 May 2023 Morning Time allowed: 1 hour 30 minutes Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the box at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box around each page or on blank pages. • If you need extra space for your answer(s), use the lined pages at the end of this book. Write the question number against your answer(s). • Do all rough work in this answer book. Cross through any work you do not want to be marked. Information • The marks for questions are shown in brackets. • The maximum mark for this paper is 80. Please write clearly in block capitals. Centre number Candidate number Surname Forename(s) Candidate signature I declare this is my own work. AS BUSINESS Paper 1 Business 1 2 *02* IB/G/Jun23/7131/1 Do not write outside the Section A box Answer all questions in this section. Only one answer per question is allowed. For each question completely fill in the circle alongside the appropriate answer. CORRECT METHOD WRONG METHODS If you want to change your answer you must cross out your original answer as shown. If you wish to return to an answer previously crossed out, ring the answer you now wish to select as shown. 0 1 A company decides to rely only on decision trees to decide whether to accept a project. If decisions are based on the financial outcome, what is the most important factor in these decisions? [1 mark] A Expected value B Initial cost C Net gain D Probability of success 0 2 When will a business’s corporate objectives be agreed? [1 mark] A After its mission and after its financial objectives B After its mission and before its financial objectives C Before its mission and after its financial objectives D Before its mission and before its financial objectives 3 *03* Turn over ► IB/G/Jun23/7131/1 Do not write outside the 0 3 Statement 1: ‘A founder of a small business may choose to remain as a sole trader in box order to retain full control of decisions.’ Statement 2: ‘A founder of a small business may choose to remain as a sole trader in order to limit his liability for debts.’ Read statements 1 and 2 and select the correct option from the following: [1 mark] A Statement 1 is true. Statement 2 is true. B Statement 1 is true. Statement 2 is false. C Statement 1 is false. Statement 2 is true. D Statement 1 is false. Statement 2 is false. 0 4 A business manufactures one product on a large scale. If the business introduces mass customisation, which of the following is least likely to occur? [1 mark] A Greater responsiveness to changes in consumer tastes B Higher added value C More flexible machinery D Reduced unit costs 0 5 Statement 1: ‘Total revenue = Total costs + profit’ Statement 2: ‘Total contribution = (Contribution per unit × quantity) + fixed costs’ Read statements 1 and 2 and select the correct option from the following: [1 mark] A Statement 1 is true. Statement 2 is true. B Statement 1 is true. Statement 2 is false. C Statement 1 is false. Statement 2 is true. D Statement 1 is false. Statement 2 is false. 4 *04* IB/G/Jun23/7131/1 Do not write outside the 0 6 The table below shows four different scenarios. box Scenario Change in interest rates Change in wages A Increase Inc