Commerce > GCSE MARK SCHEME > Pearson Edexcel International GCSE In Commerce 4CM1 Paper 01 Commercial operation and associated ris (All)
Pearson Edexcel International GCSE In Commerce 4CM1 Paper 01 Commercial operation and associated risk Mark Scheme (Provisional) May 2021
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Question number Which one of the following is a sum of money paid to an insurance company to provide cover? Answer Mark 1 (a) AO1 = 1 B A premium A Proposal is incorrect as it is a document us... ed before insurance is taken out C An endorsement is incorrect as it is a clause put on a policy D A claim is incorrect as it is made after the insurance is taken out (1) Question number Which one of the following is a payment given by a government to businesses to lower the cost of production? Answer Mark 1 (b) AO1 = 1 D Subsidy A – Duty is incorrect as it is a tax on goods B – Privatisation is incorrect as it is not a payment given by the government C – Factoring is incorrect as it is sent to customers before the goods (1) Question number Define the term specialisation. Answer Mark 1 (c) AO1 = 1 Award 1 mark for definition of specialisation. • When people/businesses/countries focus on carrying out a particular task/producing specific product (1) (1) http://britishstudentroom.wordpress.com/4CM01 - May 2021 Question number Define the term insurance contribution. Answer Mark 1 (d) AO1 = 1 Award 1 mark for definition of insurance contribution. • When a risk covered by more than one insurance company each will pay part of the claim (1) (1) Question number Calculate the percentage loss for GreenHeart when selling a box of fruit. Answer Additional guidance Mark 1 (e) (i) AO2 = 2 Award 1 mark for calculation and 1 mark for the answer. 28 ÷ 160 x 100 (1) = 17.5 (1) 1 mark for the correct method but a calculation error. NB a candidate who responds 17.5 with no calculation would still gain both marks. (2) Question number State one advantage loss leaders could have for a customer of GreenHeart. Answer Mark 1 (e) (ii) AO2 = 1 Award 1 mark for stating an advantage of loss leaders for a customer. • Customers can buy a box of fruit for a lower price (1) • Customer saves money they can spend on other groceries (1) (1) http://britishstudentroom.wordpress.com/4CM01 - May 2021 Question number State one disadvantage for GreenHeart of using loss leaders. Answer Mark 1 (e) (iii) AO2 = 1 Award 1 mark for stating a disadvantage of using loss leaders. • Selling fruit/vegetable as loss leaders could lead to a decrease in revenue for GreenHeart (1) • Customers may only purchase the box of fruit on offer and no other products thus GreenHeart would not gain any profit from the sale (1) (1) Question number Explain one disadvantage of a business partnership. Answer Mark 1 (f) AO1 = 3 Award 1 mark for identifying a disadvantage of a business partnership and up to 2 marks for linked development. • Unlimited liability (1) if the partnership is not successful each partner is responsible for the debts incurred (1) with all personal possessions at risk (1) • Partners may disagree (1) and this could disrupt the working of the partnership (1) leading to the break-up of the partnership (1) Answers that list three disadvantages of being in a partnership with no development will get 1 mark only. Accept any other appropriate response. (3) ht [Show More]
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