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UK GCSE 2007 : Foundation Tier, Business Studies Paper 2

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Centre Number 71 Candidate Number General Certificate of Secondary Education 2007 Paper 2 Foundation Tier G1202 Business Studies [G1202] THURSDAY 31 MAY, AFTERNOON TIME 2 hours. INSTRUCTIONS TO CANDIDATES Write your Centre Number and Candidate Number in the spaces provided at the top of this page. Write your answers in the spaces provided in this question paper. There should be enough space for your answers. If you do require more space, you may complete your answers on the extra lined pages at the back of this booklet. Answer all four questions. INFORMATION FOR CANDIDATES The total mark for this paper is 105, including a maximum of 5 marks for quality of written communication. Figures in brackets printed down the right-hand side of pages indicate the marks awarded to each question or part question. For Examiner s use only Question Number 1 2 3 4 QWC Total Marks G122F7 2374 Marks 1 Two enterprising businessmen, Adam McCartney and Matthew Lindsay are partners who own and run a small building firm called Best Builds. Both partners work in the business. They employ Jack, Rory, Robin and Sharon four bricklayers and work a job rotation system. In addition, they employ two secretaries, Anne and Derek, who job share and work flexitime. They also employ electricians, plumbers and joiners on a parttime basis when they need extra help. (a) Using the information above, explain the following terms: (i) Flexitime _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (ii) Enterprising _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (iii) Job Rotation _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] G122F7 2374 2 Examiner Only Marks Remark (iv) Job Share Examiner Only Marks Remark _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (b) Name one person in Best Builds who contributes each of the following factors of production. You may use any name only once. Factor of Production Person Enterprise [1] Capital [1] Labour [1] (c) Adam does not feel it is necessary to issue Contracts of Employment to the employees. Explain two reasons to Adam why Contracts of Employment are necessary. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] G122F7 2374 3 [Turn over (d) A system of appraisal has recently been introduced in Best Builds. State one reason why appraisal is helpful for employees. _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (e) Select the method of appraisal which would be most suitable for the following people in Best Builds. Anne _________________________________________________ [1] Adam ________________________________________________ [1] Rory _________________________________________________ [1] (f) Best Builds is considering becoming a company. Name the most suitable type of company for this business. Give two reasons for your choice. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [5] G122F7 2374 Examiner Only Marks Remark 2 Study the following cash flow forecast for Colin McMurray who owns a toy shop. Examiner Only Marks Remark Cash Flow Forecast for September December 2007 September October Opening Balance 5,000 2,000 (9,000) Sales 7,000 8,000 14,000 12,000 10,000 ,000 Electricity 2,000 2,000 2,000 Wages 4,000 4,000 4,000 Rent 3,000 3,000 3,000 Telephone 1,000 November December Receipts Total Receipts (4,000) Payments Staff Bonuses Other [1] [1] [1] [1] [1] [1] 10,000 Total Payments 10,000 19,000 9,000 Closing Balance 2,000 (9,000) ( ,000) [1] [1] (a) Complete the Cash Flow Forecast for December using the following information: Sales are expected to be 20,000 Electricity, Wages and Rent are expected to remain the same Staff bonuses of 1,000 will be paid G122F7 2374 [Turn over (b) Suggest what the Other payment in October was likely to be for. _________________________________________________________ ______________________________________________________ [1] (c) Why do you think staff bonuses are being paid by Colin McMurray in December? _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (d) Explain to Colin McMurray one reason why good cash flow is important in the business. _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] G122F7 2374 Examiner Only Marks Remark Colin McMurray s Trading and Profit and Loss Account for the three months 1 August to 31 October is shown below. Examiner Only Marks Remark Trading and Profit and Loss Account of Colin McMurray for the three months ended 31 October Sales 29,000 Opening Stock 2,000 Add Purchases 10,000 ______ Less Closing Stock 5,000 Cost of Goods Sold Gross Profit Electricity 6,000 Rent 9,000 Telephone 1,000 ______ 16,000 Net Profit (e) Complete the four boxes above. [4] (f) Three of Colin McMurray s fixed and variable costs are listed here. Organise them into two columns under the correct headings using each term only once. Rent Fixed Costs Telephone Electricity Variable Costs [3] G122F7 2374 7 [Turn over (g) The formula for Stock Turnover Rate is given below. Use the formula to calculate the Stock Turnover Rate for Colin McMurray s toy shop. Stock Turnover Rate = Cost of goods sold Average stock Stock Turnover Rate = Cost of goods sold Average stock Stock Turnover Rate = times [3] (h) Is this result satisfactory for a toy shop? Give one reason. _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] G122F7 2374 Examiner Only Marks Remark 3 Examiner Only Modelwear Ltd is a small company which manufactures clothes in Carrickfergus. Its goods are aimed at the teenage market and are sold throughout Ireland. The business is facing strong competition from the Far East. Marks Remark (a) One of the following statements is true. Tick the box beside the true statement. You must tick only one box. Modelwear Ltd has segmented the market according to socio-economic group. Modelwear Ltd has segmented the market according to age. Modelwear Ltd has segmented the market according to gender. Modelwear Ltd has segmented the market according to geography. [1] (b) Market Research is very important in the clothing industry. Explain two reasons why this is so. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] G122F7 2374 9 [Turn over (c) Explain two factors which Modelwear Ltd should consider when setting prices for its products. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] (d) The company operates a cost-based pricing policy at the moment. Give details of two features of cost-based pricing. 1. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] 2. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (e) Pricing is only one element of the marketing mix which Modelwear Ltd needs to consider. Name three other elements of the marketing mix. 1. ____________________________________________________ [1] 2. ____________________________________________________ [1] 3. ____________________________________________________ [1] G122F7 2374 10 Examiner Only Marks Remark (f) (i) Modelwear Ltd is planning to market its products abroad. Name one organisation which would assist the company to do this. Examiner Only Marks Remark __________________________________________________ [1] (ii) Give details of one way this organisation could assist Modelwear Ltd to market its products abroad. _____________________________________________________ _____________________________________________________ _____________________________________________________ __________________________________________________ [2] (g) Advise Modelwear Ltd of two drawbacks it may face if it decides to market abroad. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [6] G122F7 2374 11 [Turn over Examiner Only Martin Wright is a farmer, his son Stephen manufactures luxury china products in a local factory, his wife Rosemary is a nurse, and his daughter Diana is a solicitor. Marks (a) Complete the following sentences about the Wright family giving the name of the type of production each one works in: Martin works in ________________________ production [1] Stephen works in _______________________ production [1] Rosemary works in _____________________ production [1] Diana works in ________________________ production [1] (b) Stephen s factory uses job production. In your opinion, why is job production suitable for luxury china products? Give two reasons. 1. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] 2. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] G122F7 2374 12 Remark (c) The china factory is investing a large sum of money in updated technology. Give two reasons, why this should be a benefit to production in the business. Examiner Only Marks Remark 1. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] 2. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (d) The updated technology has the disadvantage of being very expensive. Explain one other disadvantage which it might have for the china factory. _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (e) The hospital Rosemary works in was built by a Public Private Partnership. Explain what a Public Private Partnership is. _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] G122F7 2374 13 [Turn over (f) Martin has been asked to sell some land so that a retail park could be developed in the area. He is willing to do so but the development is being opposed by local residents. Give details of two social costs of the new development. 1. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] 2. _______________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [2] (g) Name one other local group which is likely to be opposed to the development of a retail park. ______________________________________________________ [1] (h) Diana is working for a client who has been hurt by a faulty television. Explain how the Consumer Protection Act, 1987 could help Diana s client. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ ______________________________________________________ [4] Quality of written communication G122F7 2374 1 Examiner Only Marks Remark Extra page if required Examiner Only Marks Remark ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ G122F7 2374 1 [Turn over Extra page if required ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ G122F7 2374 1 Examiner Only Marks Remark THIS IS THE END OF THE QUESTION PAPER G122F7 2374 17 SP (NF) T24138/3

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