Edexcel gcse business studies paper 2 june 2023

Please check the examination details below before entering your candidate information Paper reference   Monday 12 June 2023 P71060A ©2023 Pearson Education Ltd. N:1/1/1/1/1/1 Instructions • Use black ink or ball-point pen. • Fill in the boxes at the top of this page with your name, centre number and candidate number. • There are three sections in this paper. • Answer all the questions in the spaces provided – there may be more space than you need. • Calculators may be used. • You are advised to show all your working out with your answer clearly identified at the end of your solution. Information • The total mark for this paper is 90. • The marks for each question are shown in brackets – use this as a guide as to how much time to spend on each question. Advice • Read each question carefully before you start to answer it. • Try to answer every question. • Check your answers if you have time at the end. You must have: Source Booklet (enclosed) Business PAPER 2: Building a business 1BS0/02Afternoon (Time: 1 hour 45 minutes) Pearson Edexcel Level 1/Level 2 GCSE (9–1) *P71060A0224* 2 SECTION A Answer ALL questions. Write your answers in the spaces provided. Some questions must be answered with a cross in a box . If you change your mind about an answer, put a line through the box and then mark your new answer with a cross . 1 Figure 1 shows a diagram of the product life cycle. Sales Time Phase 1 Phase 2 Phase 3 Phase 4 Sales Figure 1 (a) What is Phase 4 called? (1) Select one answer. A Decline B Growth C Introduction D Maturity (b) Which one of the following is an element of the design mix? (1) Select one answer. A Function B Price C Productivity D Profit *P71060A0324* Turn over 3 (c) Explain one reason why a business might use performance reviews with its employees. 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(d) Explain one impact on a business of using flow production. 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(Total for Question 1 = 8 marks) *P71060A0424* 4 2 (a) Which two of the following are documents produced by a business at the start of the recruitment process? (2) Select two answers. A Application form B Curriculum vitae (CV) C Job autonomy D Letter of application E Person specification (b) Which two of the following are services? (2) Select two answers. A Accountancy B Biscuits C Furniture D Hairdressing E Shoes *P71060A0524* Turn over 5 Table 1 contains financial information about a business. £ Sales revenue 900 000 Cost of sales 325 000 Other operating expenses and interest 175 000 Net profit 400 000 Table 1 (c) Using the information in Table 1, calculate to 2 decimal places, the net profit margin. (2) .............................................................. % (d) Explain one disadvantage to a business of using loan capital as a source of finance. 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(Total for Question 2 = 12 marks)