2023 AQA AS BUSINESS 7131/1 Paper 1
Business 1 Question Paper & Mark scheme
(Merged) June 2023 [VERIFIED]
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AS
BUSINESS
Paper 1 Business 1
Friday 19 May 2023 Morning Time allowed: 1 hour 30 minutes
Materials
For Examiner’s Use
For this paper you must have:
• a calculator. Question Mark
Section A
Instructions
• Use black ink or black ball-point pen. 11
• Fill in the box at the top of this page. 12
• Answer all questions. 13
• You must answer the questions in the spaces provided. Do not
14
write outside the box around each page or on blank pages.
• If you need extra space for your answer(s), use the lined pages at the end of 15
this book. Write the question number against your answer(s). 16.1
• Do all rough work in this answer book. Cross through any
16.2
work you do not want to be marked.
17.1
Information 17.2
• The marks for questions are shown in brackets.
TOTAL
• The maximum mark for this paper is 80.
, 2
Do not write
outside the
Section A box
Answer all questions in this section.
Only one answer per question is allowed.
For each question completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you now wish to select
as shown.
0 1 A company decides to rely only on decision trees to decide whether to accept a project.
If decisions are based on the financial outcome, what is the most important factor in these
decisions?
[1 mark]
A Expected value
B Initial cost
C Net gain
D Probability of success
0 2 When will a business’s corporate objectives be agreed?
[1 mark]
A After its mission and after its financial objectives
B After its mission and before its financial objectives
C Before its mission and after its financial objectives
D Before its mission and before its financial objectives
*02*
IB/G/Jun23/7131/1
, 3
Do not write
outside the
0 3 Statement 1: ‘A founder of a small business may choose to remain as a sole trader in box
order to retain full control of decisions.’
Statement 2 : ‘A founder of a small business may choose to remain as a sole
trader in order to limit his liability for debts.’
Read statements 1 and 2 and select the correct option from the following:
[1 mark]
A Statement 1 is true. Statement 2 is true.
B Statement 1 is true. Statement 2 is false.
C Statement 1 is false. Statement 2 is true.
D Statement 1 is false. Statement 2 is false.
0 4 A business manufactures one product on a large scale. If the business introduces
mass customisation, which of the following is least likely to occur?
[1 mark]
A Greater responsiveness to changes in consumer tastes
B Higher added value
C More flexible machinery
D Reduced unit costs
0 5 Statement 1: ‘Total revenue = Total costs + profit’
Statement 2: ‘Total contribution = (Contribution per unit × quantity) + fixed costs’
Read statements 1 and 2 and select the correct option from the following:
[1 mark]
A Statement 1 is true. Statement 2 is true.
B Statement 1 is true. Statement 2 is false.
C Statement 1 is false. Statement 2 is true.
D Statement 1 is false. Statement 2 is false.
Turn over ►
*03*
IB/G/Jun23/7131/1
, 4
Do not write
outside the
0 6 The table below shows four different scenarios. box
Scenario Change in interest rates Change in wages
A Increase Increase
B Increase Decrease
C Decrease Increase
D Decrease Decrease
Which scenario is most likely to encourage a business to change from labour-
intensive processes to capital-intensive processes?
[1 mark]
A Scenario A
B Scenario B
C Scenario C
D Scenario D
*04*
IB/G/Jun23/7131/1
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