A-LEVEL AQA BUSINESS PAPER 1 BUSINESS 1 QUESTION PAPER + MARK SCHEME [MERGED] MAY /1

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 boxSection A 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 box0 3 Statement 1: ‘A founder of a small business may choose to remain as a sole trader in 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.