11 BUSINESS STUDIES

Exam Review 16/06/2011

EXAM CONTENT

You will be required to complete a 50-minute exam

10 Multiple Choice = 10 marks

3 Short Answer questions = 15 marks

1 Extended Response = 15 marks

Based on elements of:• Topic 1 The Nature of Business

• Role of business, types of business, influences in the business environment, business growth and decline

• Topic 2: Business Planning• Small to medium enterprises, influences in establishing a small to

medium enterprise

TIME ALLOCATION

Divide your time via the marks allocated• Example 50 minutes = 40 marks• = approx 1.25 minutes per mark• = MC = 10 x 1 mark questions x 1.25 = 12.5

minutes• = SA = 3 x 5 mark questions x 1.25 = 18.75

minutes• = ER = 1 x 15 mark question = 18.75 minutes• Total time = 50 minutes

HIGHER ORDER THINKING

HOW TO APPROACH THE QUESTIONS

Read through all questions carefully

Note on paper initial thoughts

You don’t have to answer them in the order that

you read them• Allocate your time where you will get the most

marks first.• If that is extended response section (section 3) then

start there

Make sure your hand writing is legible (able to be

read)

Know your process verbs

MULTIPLE CHOICEEliminate the obviously wrong answers

This helps to narrow the choice if you are unsure

Reread the wording of the question• There is always a very specific answer as the question will

the tailored in a really specific way

If in doubt always answer something – you have a 1 in 4

chance of getting it right

If you make a mistake put a big cross through the incorrect

letter and shade/select another

If you think it could be misunderstood draw an arrow

stating “error” to avoid confusion

EXAMPLE QUESTIONS

1.The number of employees in a business is:a. Only those who are hired to work in the businessb. Includes unpaid workers c. The number of people who physically attend the premises

each dayd. Includes owners / partners

2. SMEs :a. Can have a number of locations around the worldb. Are only based in one locationc. Typically employs more than 200 peopled. Is owned by hundreds or thousands of shareholders

SHORT ANSWERS

If using stimulus material make sure you use that information in

your response

Do not restate the question, it wastes valuable time and writing

space

Use all of the writing space provided – it is a clue to how long your

answer should be

Use bullet points to answer – this is not an English essay – its

about business facts

Use headings if e.g. asked to discuss then have a heading ‘for’ &

‘against’

EXAMPLES

Identify three examples of TNCs (3 marks)________________________________________________________________________

Distinguish between a local and a national

business (4 marks)________________________________________________________________________________________________

EXTENDED RESPONSE

Thesis (Main Idea)

Argument (include example)

Reinforcement

HOW TO WRITE A PARAGRAPH

1st sentence introduces point you are about to write

about in detail

2nd (& sometimes 3rd )sentence/s provide specific

details about the point you are trying to make

The last sentence introduces the next paragraphExample:Each stage of the business life cycle has its own special features and challenges. Establishment, growth, maturity and post maturity are the key stages to be considered. The establishment stage is typically the first stage each business will start with.The establishment stage is the birth of the business………

THESIS

Main Idea

Presents the writers opinion

Gives a preview of the main argument

Clear & straight to the point

ARGUMENT

Include examples

Support & outline your position

Start with the important points

Use persuasive language

Keep similar ideas together in the

same paragraph

REINFORCEMENT

To strengthen or support

Give a brief & persuasive summary

State your thesis using different

words again

DISCUSSION APPROACH

If asked to ‘discuss’ a statement:• Involves writing about the reasons for

supporting the argument and against the argument.

• Sometimes called pros and cons• Discussion requires you to discuss pros

and cons and then come to a decision as to which set of reasons you support.