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Business Studies IGCSEPDF 204

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PDF 204

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0450/11 Cambridge IGCSE — Mark Scheme PUBLISHED May/June 2025 Answer Marks 1(a) Define ‘business partnership’. Award 2 marks for a full definition. Award 1 mark for a partial definition. « Two (or more) people agree to (jointly) own the business [2] « Abusiness formed by two (or more) people who will usually share responsibility for the day to day running of the business [2] « Anunincorporated business that has more than one owner [2] Partial definition e.g. * business run by two or more people [1] For two marks need the idea of owned/formed and it involves at least two people. 1(b) Identify two ways a government can support business start-ups. Award 1 mark for each way (max 2). Points might include: Grants/subsidies (Low interest) loans Low-cost/rent-free premises Provide training Tax relief/lower tax/tax holiday Advice/help with research Help promote/advertise the business Provide mentors Other appropriate responses should be credited. Only award the first two responses given. 0450/11 Cambridge IGCSE — Mark Scheme PUBLISHED May/June 2025 Answer Marks 1(c) Outline two ways an economic boom might affect Brendan’s business. Award 1 mark for each relevant way (max 2). Award 1 mark for each relevant reference to this business (max 2). Points might include: e High level of demand/sales/revenue [k] for flowers [app] «May be difficult to find employees [k] for the shop [app] « Hecan increase his prices [k] which will increase added value [app] e Higher costs / wages might increase [k] so may need more government support [app] High business confidence [k] for this entrepreneur [app] Increased competition [k] Harder to materials [k] Harder to find a location [k] Other appropriate responses should be credited. 4 To use words from the stem as application, the reference must be appropriate (i.e. make sense) in relation to the point being made. The following words are likely to be appropriate for this question: e (Successful) entrepreneur Start-up/new business Flower(s) or examples Shop Government support Increase added value (Business) partnership Pricing method Other appropriate examples can be credited.