Commerce > GCSE MARK SCHEME > Pearson Edexcel International GCSE In Commerce 4CM1 Paper 01 Commercial operation and associated ris (All)
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 [Show More]
Last updated: 1 year ago
Preview 1 out of 22 pages
Connected school, study & course
About the document
Uploaded On
Jun 26, 2022
Number of pages
22
Written in
This document has been written for:
Uploaded
Jun 26, 2022
Downloads
0
Views
72
In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.
We're available through e-mail, Twitter, Facebook, and live chat.
FAQ
Questions? Leave a message!
Copyright © Browsegrades · High quality services·