IGCSE Business 0264

1.1.1 What are the four factors of production?

Land, Labour, Capital, Enterprise

How To Answer 2 Mark Questions

One [reason/advantage/disadvantage] is ______ because ______.

What do 2 Mark Questions want?

knowledge + explanation

How To Answer 4 Mark Questions

DO THIS TWICE! (For two different points) One [point] is ______. This means ______, which leads to ______ for a business such as ______ because ______.

What do 4 Mark Questions want?

knowledge + explanation (TWICE), with a little application

How To Answer 6 Mark Questions

(DO THIS TWICE) One [point] is ______. This means ______, which leads to ______ for ______, as it ______.

What do 6 Mark Questions want?

knowledge + explanation + application

How To Answer 8 Mark Questions

Give four concise PEE pairs. Each is one short sentence for the point + one short sentence for the because/in-context.

Example structure (×4):

• Way 1: Point. Because [brief case detail → effect].

• Way 2: … (repeat to 4).

Marks logic: each mini-point earns 1 for the idea + 1 for a because/context = 2, total 8. Keep each distinct; don’t repeat the same mechanism.

What do 8 Mark Questions want?

knowledge, application and evaluation TWICE

How To Answer 12 Mark Questions

• Paragraph 1 (Factor A):

  1. Point (name the effect).

  2. Because (why, in this case).

  3. So what (what happens next).

  4. Impact (on costs/revenue/profit/brand).
     1–2 applied sentences each step; keep it in the case context.

• Paragraph 2 (Factor B): same 4-step chain.

Sentence frame (use & adapt):
“Factor A will affect VV because [case detail]. This means [mechanism], so [result], leading to [clear business impact].”

Marks logic: 2 × (clear point + applied chain) = 8. No conclusion needed.

What do 12 Mark Questions want?

knowledge, application, analysis, evaluation

1.1.1 Land Definition

1.1.1 Labour Definiton

1.1.1 Capital Definiton

1.1.1 Enterprise Definition

1.1.1 What is Added Value?

1.1.1 How can a business Increase added value?

Branding, Customer service, Unique design, Quality

1.1.1 Added Value - Branding

1.1.1 Added Value - Customer service

1.1.1 Added Value - Unique design

1.1.1 Added Value Quality

1.1.1 What is opportunity cost?

The next best alternative option forgone when making a decision

1.2.1 What are types of economic sector?

primary, secondary, tertiary, private, public

1.2.1 Primary Sector

1.2.1 Secondary Sector

1.2.1 Tertiary Sector

1.2.1 Private Sector

1.2.1 Public Sector

1.3.1 what are the characteristics of a successful entrepreneur?

1.3.1 What is the purpose of a business plan?

1.3.1 key features of a business plan

overview/summary, objectives, resources, market research, marketing, finance, people, operations

1.3.1 Importance of a business plan

1.3.1 Business Plan Advantages

1.3.1 Business Plan Disadvantages

1.3.1 Why do goverments support start-ups?

1.3.1 How do governments support businesses?

Grants, advice, low-cost loans, training, schemes

1.3.1 Government Grants

1.3.1 Government Advice

1.3.1 Government Low-Cost Loans

1.3.1 Government Training

1.3.1 Government Schemes

1.3.2 Methods of Measuring business size

number of people employed, value of output/sales, volume of output/sales, capital employed

1.3.2 Methods of Measuring Business size - Number of people employed

1.3.2 Methods of Measuring Business size - value of output/sale

1.3.2 Methods of Measuring Business size - capital employed

1.3.2 Profit is not a method of measuring [___]

business size

1.3.2 Problems when measuring business size

1.3.3 Why do some owners of a business want to grow the business?

1.3.3 How and Why can businesses grow internally?

1.3.3 Internal Growth Advantages + Disvantages Develop new products

1.3.3 Internal Growth Advantages + Disvantages Develop new markets

1.3.3 How and Why can businesses grow externally?

1.3.3 External Growth Advantages + Disvantages Mergers and takeovers

1.3.3 What is Horizontal Intergration?

1.3.3 What is Vertical Intergration?

1.3.3 What are some problems linked to business growth?

1.3.3 Why do some businesses remain small?

1.3.3 Reasons of Business Succession

1.3.3 Reasons of Business Failure

1.4.1 Sole Trader

1.4.1 Sole Trader adv + dis

1.4.1 Sole Trader Reccomendation

1.4.1 Partnership

1.4.1 Partnership adv + dis

1.4.1 Partnership Recomendation

1.4.1 Private Limited Company

1.4.1 Private Limited Company adv + dis

1.4.1 Private Limited Company Recomendation

1.4.1 Public Limited Company

1.4.1 Public Limited Company adv + dis

1.4.1 Public Limited Company Recomendation

1.4.1 What is a Franchise?

1.4.1 Franchise - Advantages for the franchisee

1.4.1 Franchise - Disadvantages for the franchisee

1.4.1 Franchise - Advantages for the franchisor

1.4.1 Franchise - Disadvantages for the franchisor

1.4.1 What is a Joint Venture?

1.4.1 Joint Venture Advantages

1.4.1 Joint Venture Disadvantages

1.4.1 What is a Social Enterprise?

1.5.1 MAIN Business Objectives

survival, growth, profit, market share

1.5.1 Business Objectives Survival

1.5.1 Business Objectives Growth

1.5.1 Business Objectives Profit

1.5.1 Business Objectives Market Share

1.5.1 Importance of Business Objectives

1.5.2 What is an internal Stakeholder?

1.5.2 Examples of Internal Stakeholders

1.5.2 What is an External Stakeholder?

1.5.2 Examples of an External Stakeholders

1.5.2 Objectives of Owners (Internal Stakeholders)

1.5.2 Objectives of Managers (Internal Stakeholders)

1.5.2 Objectives of Employees (Internal Stakeholders)

1.5.2 Objectives of Customers (External Stakeholders)

1.5.2 Objectives of Suppliers (External Stakeholders)

1.5.2 Objectives of Lenders/Banks (External Stakeholders)

1.5.2 Objectives of the government (External Stakeholders)

1.5.2 Objectives of the Local Community (External Stakeholders)

1.5.2 How might the objectives of different stakeholder groups conflict with each other?

2.1.1 What are the stages in the recruitment process?