UNIT ASSESSMENT
Edexcel A Level
Economics
Unit Assessment
3.2 Business
Objectives
(Edition 1)
h 40 minutes
h The maximum mark for this unit assessment is 30
Name
Centre Name
, Edexcel A Level Economics (A)
Unit Assessment
3.2 Business Objectives
Section A
ANSWER ALL THE QUESTIONS
1a A good explanation of ‘satisficing’ is
A market entry decisions can be reversed without cost
B business owners setting minimum acceptable levels of achievement in terms of
revenue and profit.
C finding the minimum efficient scale of output
D barriers to entry to a market have been overcome
(1 mark)
1b Which of these is not a feature of a public-sector firm?
A Often provides services free-of-charge at the point-of-use
B It is controlled by the state
C Profits will usually be reinvested in the business
D Offers owners the benefits of limited liability
(1 mark)
1c Give two reasons that a firm may have for choosing to maximise sales rather than profit.
(2 marks)
Page 2 Edexcel A Level Economics Unit Assessment www.tutor2u.net/economics
Edexcel A Level
Economics
Unit Assessment
3.2 Business
Objectives
(Edition 1)
h 40 minutes
h The maximum mark for this unit assessment is 30
Name
Centre Name
, Edexcel A Level Economics (A)
Unit Assessment
3.2 Business Objectives
Section A
ANSWER ALL THE QUESTIONS
1a A good explanation of ‘satisficing’ is
A market entry decisions can be reversed without cost
B business owners setting minimum acceptable levels of achievement in terms of
revenue and profit.
C finding the minimum efficient scale of output
D barriers to entry to a market have been overcome
(1 mark)
1b Which of these is not a feature of a public-sector firm?
A Often provides services free-of-charge at the point-of-use
B It is controlled by the state
C Profits will usually be reinvested in the business
D Offers owners the benefits of limited liability
(1 mark)
1c Give two reasons that a firm may have for choosing to maximise sales rather than profit.
(2 marks)
Page 2 Edexcel A Level Economics Unit Assessment www.tutor2u.net/economics
