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 = minutes = ER = 1 x 15 mark question = 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 CHOICE  Eliminate 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 business b.Includes unpaid workers c.The number of people who physically attend the premises each day d.Includes owners / partners 2.SMEs : a.Can have a number of locations around the world b.Are only based in one location c.Typically employs more than 200 people d.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  1 st sentence introduces point you are about to write about in detail  2 nd (& sometimes 3 rd )sentence/s provide specific details about the point you are trying to make  The last sentence introduces the next paragraph Example: 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.