Official June 2024 AQA AS BUSINESS 7131/1 Paper 1 Business 1 Merged Question Paper + Mark Scheme Ace your Mocks!!! *Jun247131101* IB/G/Jun24/G4001/E9 7131/1 For Examiner’s Use Question Mark Section A 11 12 13 14 15 16.1 16.2 17.1 17.2 TOTAL Friday 17 May 2024 Morning Time allowed: 1 hour 30 minutes Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the box at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not 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 this book. Write the question number against your answer(s). • Do all rough work in this answer book. Cross through any work you do not want to be marked. Information • The marks for questions are shown in brackets. • The maximum mark for this paper is 80. Please write clearly in block capitals. Centre number Candidate number Surname Forename(s) Candidate signature I declare this is my own work. AS BUSINESS Paper 1 Business 1 2 *02* IB/G/Jun24/7131/1 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 Statement 1: ‘Profit is important because it can measure success.’ Statement 2: ‘Profit is important because it can reward shareholders.’ 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 2 Which one of these factors is not a feature of lean production? [1 mark] A Frequent deliveries from suppliers B Long lead times C Low inventory levels D Right first time quality 3 *03* Turn over ► IB/G/Jun24/7131/1 Do not write outside the 0 3 A product has demand that is price inelastic. The business selling this product is most box likely to: [1 mark] A set a high price and use penetration pricing. B set a high price and use price skimming. C set a low price and use penetration pricing. D set a low price and use price skimming. 0 4 The directors of a public limited company may change it to a private limited company to: [1 mark] A access more funds from the stock exchange. B gain limited liability. C increase the number of potential shareholders. D reduce the level of legal regulations required. Turn over for the next question 4 *04* IB/G/Jun24/7131/1 Do not write outside the 0 5 Think about Maslow’s hierarchy of needs. Which one of the following statements does box Maslow say is true? [1 mark] A Security/safety needs must be satisfied before physiological needs can be used to motivate employees. B Self-actualisation needs must be satisfied before ego/esteem needs can be used to motivate employees. C Social/belonging needs must be satisfied before ego/esteem needs can be used to motivate employees. D Social/belonging needs must be satisfied before security/safety needs can be used to motivate employees. 0 6 Statement 1: ‘Market mapping is often used to calculate the market share of a business.’ Statement 2: ‘Market mapping shows the geographical location of a business on a map.’ 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 7 A business has an opening balance of £5000 on 1 July. In the month of July, there is a cash outflow of £14 000. The net cash flow for July is £22 000. The business’ closing balance on 31 July is: