2023 Cambridge IGCSE Enterprise (0454) 模拟试题及答案详解

(a) A co-operative is owned and run democratically by its members (such as employees or customers) who share the profits, whereas a franchise is a license purchased from an existing business (franchisor) allowing the owner (franchisee) to trade under their brand name.

(b) Reasons for setting up an enterprise include:
1. To gain independence and be their own boss. For example, in our school candle enterprise, we wanted the freedom to choose our own design and price points.
2. To make a profit or gain an income. For example, we aimed to generate enough profit from candle sales to fund our end-of-year class trip.

(c) One benefit of a private limited company (Ltd) is limited liability, meaning the owners' personal assets are protected if the company goes into debt; they only lose what they invested.

(d) One disadvantage is that it is more complex and expensive to set up than a sole proprietorship or partnership, requiring legal registration and filing annual accounts.

(a) [2 marks]
- 1 mark for showing understanding of a co-operative (e.g. owned by members/workers/democratic control).
- 1 mark for showing understanding of a franchise (e.g. buying a license to trade under an established brand name).

(b) [4 marks]
Each reason should be marked as follows:
- 1 mark for identifying a reason/motivation (e.g., independence, profit, passion, helping others) [max 2].
- 1 mark for applying it with a specific example from their own enterprise project [max 2].

(c) [2 marks]
- 1 mark for identifying a benefit (e.g. limited liability, separate legal identity, easier to raise finance by selling shares).
- 1 mark for explaining how this benefits the owners/enterprise.

(d) [2 marks]
- 1 mark for identifying a disadvantage (e.g. complex setup, cannot sell shares to the general public, financial records are publicly available).
- 1 mark for explaining why this is a disadvantage to the owners/enterprise.

(a) Two methods of secondary research are:
1. Researching government statistics or reports on beverage trends online.
2. Reading industry publications or competitor websites.

(b) Advantages of questionnaires in our project:
1. Low cost: We printed questionnaires on paper which cost very little, fitting our tight budget.
2. Targeted feedback: We could ask specific questions about flavors directly to students at our school, who were our target market.

(c) Negative effects of poor customer retention:
1. Increased marketing costs: The enterprise will have to spend more money on advertising to continuously attract new customers to replace lost ones.
2. Negative word-of-mouth: Dissatisfied customers may tell others about their poor experience, damaging the reputation and reducing sales revenue.

(a) [2 marks]
- 1 mark per correct secondary research method identified (e.g., internet search, market reports, competitor websites, government data) [max 2].

(b) [4 marks]
Each advantage should be marked as follows:
- 1 mark for identifying a benefit of questionnaires (e.g., relatively cheap, gathers quantitative data, can target specific groups).
- 1 mark for applying/explaining how this helped their specific enterprise project.

(c) [4 marks]
Each negative effect should be marked as follows:
- 1 mark for identifying a negative consequence (e.g., higher advertising costs, drop in sales, bad reputation, loss of competitive edge).
- 1 mark for explaining how this impacts the enterprise's performance or survival.

(a) Two items usually included are:
1. The target market details (demographics, location).
2. Marketing mix strategies (price, product details, promotion methods, distribution channels).

(b) A business plan would help Aaron assess the viability of his business idea before investing money, identifying whether there are enough potential customers who need phone repairs in his area to make a profit.

(c) A business plan needs to be updated if market conditions change, such as a new competitor opening nearby, which requires Aaron to adjust his pricing strategy.

(d) An action plan would have helped Aaron. It is a non-financial document that lists the specific tasks required to set up the repair shop, assigning who is responsible for each task and setting clear deadlines to keep the project on schedule.

(a) [2 marks]
- 1 mark per correct item identified (e.g., target audience, pricing strategy, promotional activities, market research results, competitor analysis) [max 2].

(b) [3 marks]
- 1 mark for identifying a purpose/help of a business plan (e.g., to secure a bank loan, check viability, provide direction, set targets).
- 1 mark for explaining how this assistance works in practice.
- 1 mark for application to Aaron's phone repair context.

(c) [2 marks]
- 1 mark for identifying a reason for updating (e.g., external changes, growth, new goals, original targets achieved).
- 1 mark for explaining why this change necessitates an update.

(d) [3 marks]
- 1 mark for identifying a relevant non-financial document (e.g., action plan, task checklist, meeting minutes).
- 1 mark for explaining how the document helps organize an enterprise.
- 1 mark for application to the context of setting up an enterprise.

(a) A contract is a legally binding agreement between two or more parties that is enforceable by law, whereas a code of practice is a set of voluntary ethical guidelines and standards that an enterprise chooses to follow to guide its behavior.

(b) Maya might use fair-trade suppliers to improve her brand image. Ethical consumers are often willing to pay a premium price for clothing made under fair working conditions, which can offset the higher material costs and boost overall sales.

(c) Consumer protection legislation would affect her brand. For example, laws regarding truthful labeling mean Maya must accurately state the fabric composition (e.g., '100% Organic Cotton') on her clothing labels or face fines.

(d) Maya could use recycled or organic cotton fabrics and biodegradable packaging to minimize waste and reduce the carbon footprint of her clothing production.

(a) [2 marks]
- 1 mark for explaining 'contract' (legally binding/enforceable by law).
- 1 mark for explaining 'code of practice' (voluntary/ethical guidelines for professional conduct).

(b) [3 marks]
- 1 mark for identifying a reason (e.g., marketing advantage, customer values, ethical motivation, employee morale).
- 1 mark for explaining the impact on the business (e.g., higher selling price, improved customer loyalty).
- 1 mark for application to Maya's clothing context.

(c) [3 marks]
- 1 mark for identifying an area of legislation (e.g., consumer protection, employment law, health and safety).
- 1 mark for explaining how the legislation affects business operations.
- 1 mark for applying it with an example related to the clothing business.

(d) [2 marks]
- 1 mark for identifying an environmentally positive action (e.g. biodegradable packaging, reducing plastic, using renewable energy, recycling).
- 1 mark for explaining how it reduces environmental impact.

(a) Revenue = Price * Quantity
Revenue = US$20 * 15 hours = US$300

(b) Calculations:
- Fixed costs: US$360
- Variable cost of each hour: 10% of US$20 = US$2
- Contribution of each hour: Price - Variable Cost = US$20 - US$2 = US$18
- Break-even number of hours: Fixed Costs / Contribution = US$360 / US$18 = 20 hours

(c) Tinashe could reduce his break-even point by increasing his hourly tutoring price (e.g., to US$25). This would increase the contribution per hour, meaning he needs fewer tutoring hours to cover his fixed costs of US$360.

(a) [2 marks]
- US$300 [2]
- If answer is incorrect, award 1 mark for correct formula: Revenue = Price × Quantity.

(b) [5 marks]
Award marks for work under each heading:
- Fixed costs: US$360 [1]
- Variable cost: US$2 (or 10% of $20) [1]
- Contribution: US$18 (or Price - VC) [1]
- Break-even formula shown/used correctly: Fixed Costs / Contribution [1]
- Break-even hours: 20 hours [1]

(c) [3 marks]
- 1 mark for identifying a method (e.g., increase price, reduce fixed costs, reduce variable costs).
- 1 mark for explaining how this mathematically reduces the break-even point (e.g., increases contribution per unit or reduces the total amount to cover).
- 1 mark for applying it to Tinashe's tutoring service context (e.g., finding cheaper online hosting to reduce software costs).

Example response:

Time management:
Priya will need to balance creating digital designs with business tasks such as marketing, billing, and responding to clients. By setting clear schedules and prioritizing urgent design deadlines, she avoids late deliveries, thereby retaining customers and building a strong reputation. For example, allocating mornings for client communication and afternoons for actual illustration work ensures both administrative and creative tasks are completed efficiently without causing burnout.

Initiative:
Starting a business requires Priya to actively seek out opportunities rather than waiting for customers to find her. By taking the initiative to pitch her services to local small businesses or building an online portfolio website to showcase her illustration skills, she can actively generate her first sales. This proactive behavior is critical in the early stages when brand awareness is low, allowing her to secure an initial revenue stream and establish her presence in a competitive market.

Level 3 (8-10 marks):
Good analysis consistently applied to the scenario. Demonstrates clear understanding of how both chosen skills directly impact the success or failure of Priya's digital design enterprise.

Level 2 (4-7 marks):
Some analysis supported by good application to the scenario. Demonstrates knowledge of the chosen enterprise skills, with some explanation of their benefits or impact on the enterprise.

Level 1 (1-3 marks):
Limited application to the scenario. Demonstrates basic knowledge of the enterprise skills, but offers little or no analysis of how they lead to success.

Level 0 (0 marks):
No creditable response.

Indicative content:
- Time management: Organizing work tasks, meeting illustration deadlines, balancing admin work (invoicing) with creative work, avoiding delays that hurt client relationships.
- Initiative: Taking proactive steps to find clients, launching advertising campaigns, setting up a portfolio without waiting for orders.
- Taking responsibility: Accepting outcomes of design decisions, handling client complaints professionally, managing business finance carefully.

Example response:

Time management:
Priya will need to balance creating digital designs with business tasks such as marketing, billing, and responding to clients. By setting clear schedules and prioritizing urgent design deadlines, she avoids late deliveries, thereby retaining customers and building a strong reputation. For example, allocating mornings for client communication and afternoons for actual illustration work ensures both administrative and creative tasks are completed efficiently without causing burnout.

Initiative:
Starting a business requires Priya to actively seek out opportunities rather than waiting for customers to find her. By taking the initiative to pitch her services to local small businesses or building an online portfolio website to showcase her illustration skills, she can actively generate her first sales. This proactive behavior is critical in the early stages when brand awareness is low, allowing her to secure an initial revenue stream and establish her presence in a competitive market.

Level 3 (8-10 marks):
Good analysis consistently applied to the scenario. Demonstrates clear understanding of how both chosen skills directly impact the success or failure of Priya's digital design enterprise.

Level 2 (4-7 marks):
Some analysis supported by good application to the scenario. Demonstrates knowledge of the chosen enterprise skills, with some explanation of their benefits or impact on the enterprise.

Level 1 (1-3 marks):
Limited application to the scenario. Demonstrates basic knowledge of the enterprise skills, but offers little or no analysis of how they lead to success.

Level 0 (0 marks):
No creditable response.

Indicative content:
- Time management: Organizing work tasks, meeting illustration deadlines, balancing admin work (invoicing) with creative work, avoiding delays that hurt client relationships.
- Initiative: Taking proactive steps to find clients, launching advertising campaigns, setting up a portfolio without waiting for orders.
- Taking responsibility: Accepting outcomes of design decisions, handling client complaints professionally, managing business finance carefully.

To answer this question effectively, candidates must analyze both methods in the context of Sania's organic soap enterprise, 'PureSuds', and arrive at a reasoned conclusion.

Points for Flyer Distribution:
- Advantages: Cheap to print, can be targeted specifically to local boutiques, health food stores, or high-traffic local streets where customers interested in natural cosmetics shop. Physical touchpoint.
- Disadvantages: High wastage rate (often thrown away instantly), limited reach, does not convey the sensory appeal or detailed benefits of organic ingredients easily.

Points for Social Media Influencer Collaborations:
- Advantages: High visual appeal of handmade soaps can be showcased in video reviews; micro-influencers in beauty/skincare have pre-built trust with target demographics (e.g., eco-conscious buyers).
- Disadvantages: Can be costly (demanding high fees or free product stock); harder to manage locally if followers are geographically dispersed and shipping organic soap is expensive or restricted.

Evaluation:
- If PureSuds is a small, local start-up with limited distribution capability, flyer distribution focused on local community events/health stores is the safest and most efficient path. However, if she is looking to establish an e-commerce presence, influencer marketing will yield a much higher conversion rate and brand credibility among organic product buyers.

Level 4 (12–15 marks):
Clear reasoned evaluation is present, comparing both methods with a justified recommendation for Sania's enterprise 'PureSuds'. Consistently applied to the context.

Level 3 (8–11 marks):
Good analysis of both flyer distribution and influencer collaborations in the context of organic soap, showing how they affect promotional success or costs.

Level 2 (4–7 marks):
Some application of one or both methods to the case study, with basic analysis of their benefits or drawbacks.

Level 1 (1–3 marks):
Generic knowledge of flyer distribution or social media marketing with little or no application to organic soap or Sania's business.

Level 0 (0 marks):
No creditable response.

An example of a Level 3 response:

In our handmade candle enterprise, we negotiated the bulk price of soy wax with a local craft store owner. Before entering the meeting, we prepared by researching online wholesale prices and determining our Best Alternative to a Negotiated Agreement (BATNA).

First, our research showed that online suppliers charged $8 per kilogram plus shipping. We used this data as evidence during the negotiation to demonstrate to the store owner that their opening price of $12 per kilogram was uncompetitive. This preparation gave us a strong bargaining position, forcing them to lower their offer.

Second, we established our BATNA as buying from an online store at $9.50 per kilogram (including delivery). Knowing this limit prevented us from accepting any bad deals. Because we were well-prepared, the owner agreed to sell us the wax at $9.00 per kilogram in exchange for us placing a guaranteed second order next month. This negotiation reduced our unit cost by 25%, helping us keep our candle selling price low and secure our target profit margin.

Marking Scheme:

Level 3: [8-10 marks]
- Good analysis consistently applied to their own enterprise experience.
- Explains how specific preparation activities directly contributed to a successful outcome or agreement in the negotiation.
- Demonstrates a clear understanding of negotiation concepts (e.g., BATNA, target, limit, mutual benefits).

Level 2: [4-7 marks]
- Some analysis supported by good application to their own enterprise experience.
- Describes the negotiation and explains what preparation was done, showing some link to the agreement reached.
- Demonstrates general knowledge of negotiation concepts.

Level 1: [1-3 marks]
- Limited application to their own enterprise experience.
- Identifies basic preparation steps (e.g. finding a quiet room, writing down a price) without analyzing how it helped the negotiation.
- Demonstrates basic knowledge of concepts.

Level 0: [0 marks]
- No creditable response.

Example answer outline: In our school enterprise project of making and selling handmade soap, we required an initial capital of $60 to buy raw materials (glycerin, essential oils, and molds). We considered two sources of finance: personal savings (internal) and a loan from parents (external). Personal savings was highly suitable because it was immediately available, meaning we could purchase materials without delay. Furthermore, there was no interest to pay, which kept our fixed costs at zero and lowered our break-even point. However, relying solely on our limited savings meant we could not purchase bulk quantities of essential oils, which would have reduced our unit variable cost. To supplement this, we considered a loan from our parents. The advantage was that they did not charge interest and offered flexible repayment terms, which reduced the financial risk of failure. However, a drawback was the ethical pressure of potentially losing family money if the enterprise failed. In conclusion, personal savings was the most suitable source of finance because it gave us complete ownership and eliminated any debt burden, making it ideal for a small-scale, short-term project.

Level 4 (12-15 marks): Clear reasoned evaluation is present. Good analysis applied consistently to their own enterprise project. Demonstrates good knowledge of finance concepts. Level 3 (8-11 marks): Good analysis applied consistently to their enterprise project, leading towards evaluation. Demonstrates knowledge of relevant finance concepts. Level 2 (4-7 marks): Some application to their enterprise supported by some analysis of the advantages/disadvantages of the sources. Demonstrates knowledge of finance concepts. Level 1 (1-3 marks): Limited application to their own enterprise. Demonstrates some basic knowledge of sources of finance (e.g., listing sources like bank loans or grants). Level 0 (0 marks): No creditable response.