2024 Pearson Edexcel Level 1/Level 2 GCSE Business 1BS0/01 PAPER 1: Investigating small business. Question Paper & Marking Scheme Merged Pearson Edexcel Level 1/Level 2 GCSE (9–1) Tuesday 14 May 2024 reference 1BS0/01

2024 Pearson Edexcel Level 1/Level 2 GCSE Business 1BS0/01 PAPER 1: Investigating small business. Question Paper & Marking Scheme Merged Pearson Edexcel Level 1/Level 2 GCSE (9–1) Tuesday 14 May 2024 reference 1BS0/01 Afternoon (Time: 1 hour 45 minutes) Paper Business  PAPER 1: Investigating small business You must have: Total Marks Source Booklet (enclosed) 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 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. Turn over ©2024 Pearson Education Ltd. *P75525A0124* P75525A F:1/1/1/1/1/ 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 (a) Which one of the following is a way of segmenting a market? (1) Select one answer. A Cost B Income C Media D Profit (b) Which one of the following is a definition of insolvency? (1) Select one answer. A Business failure due to unpaid debts B Credit offered by suppliers C The cost of borrowing money D When two businesses join together DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA 2 *P75525A0224*  DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA (c) Explain one disadvantage of starting a business as a partnership. 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(d) Explain one advantage to customers from increased competition. 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(Total for Question 1 = 8 marks) *P75525A0324* 3  Turn over 2 (a) Which two of the following could be used to collect secondary market research? (2) Select two answers. A Focus group B Internet C Market reports D Observation E Survey (b) Which two of the following are covered by employment law? (2) Select two answers. A Consumer rights B Discrimination C Health and safety D Product quality E Taxation Table 1 contains information for a small business. Fixed costs £7 500 Variable cost £2 per unit Selling price £6 per unit Output 5,000 units Table 1 (c) Using the information in Table 1, calculate the total costs for the small business. You are advised to show your workings. (2) £.............................................................. DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA 4 *P75525A0424*  DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA (d) Explain one disadvantage to a small business from using retained profit for expansion. 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(e) Explain one advantage of opening up