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BS TAP 01 Marking Scheme

This document contains the marking scheme for a business studies exam with 5 questions. It provides the point structure and requirements to earn marks for answers to questions about business concepts. Some key points that would earn marks include distinguishing between goods and services, needs and wants, goals and objectives. Specific examples are provided of business activities that emerged during the pandemic like online classes and mask manufacturing. Criteria for strong mission and vision statements are outlined.

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Azraa Shiyam
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28 views3 pages

BS TAP 01 Marking Scheme

This document contains the marking scheme for a business studies exam with 5 questions. It provides the point structure and requirements to earn marks for answers to questions about business concepts. Some key points that would earn marks include distinguishing between goods and services, needs and wants, goals and objectives. Specific examples are provided of business activities that emerged during the pandemic like online classes and mask manufacturing. Criteria for strong mission and vision statements are outlined.

Uploaded by

Azraa Shiyam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BS TAP 01

MARKING SCHEME

01.
(i) (a) Not agree. (1 mark)
Business involves in production and providing goods or services as well as
distribution and other related activities (1 mark)

(b) * Shramadana campaign * Beach clean up programmes


(1 mark per each, total 2)

(ii)

 Generate employment opportunities


 Doing innovations
 Contribute to national production
 Using local resources
(0.5 per each point, 0..5 per each explanation, total 4)

(iii)
Goods and services
 Goods are tangible while services are intangible
 Goods can be stored while services cannot be stored
 Goods can be separated from owner while services cannot be separated from provider
(1 mark per each, total 2)
Needs and wants
 Needs are limited while wants are unlimited
 Needs cannot be created while wants cannot be created
 Needs are essential while wants are not essential
 Needs are common while wants are not common
(1 mark per each, total 2)

(iv)
No. (1 mark)
Products can be broadly classified as goods , services, ideas, experience, information,
events, places, organizations, people (3 mark)
(v)
(a) * Provide necessary education regarding agriculture
* Using latest technological equipments
* Using quality fertilizers
(1 mark per each, total 2)
(b)
* Minimum two people should be there
* Each party should have a valuable thing to exchange
* Mutual trust
* Each party should have an ability to exchange the good
(1 mark per each, total 2)

02.

(i) (a) No. In order to exist a business, there should be continuous transactions. In
here only one transaction is there (2 marks)

(b) Aims are short term while goals are long term (2 marks)

(ii) * Increase sales by 10% in next quarter


* Increase profits by 2 Mn in next month
* Decrease employee turnover by 5% in next 6 months
* Increase the market share by 50% in next month
(1 mark per each, total 4)

(iii) (a) * Income is uncertain * Risk is high (1 mark each valid reason, total 2)

(b) Exchange relationship is being over from transaction (2 marks)

(iv) (a) Mission statement shows the strategies need to be followed to achieve the
vision (2 marks)

(b) Specific, Measurable, Achievable, Realistic, Time Frame (0.5 per each, total
2)
(v) * Can be a rational customer
* Can start our own business
* Can improve management skills
* Can improve entrepreneurial skills

(0.5 per each and 0.5 per each explanation, total 4)

03.
(i) (a) * Less price * Purchase regularly * Not comparing the features * Less effort
(1 mark per each, total 2)

(b) * Shopping goods are less expensive than speciality goods


* The effort made to purchase shopping goods is less than effort made to purchase
speciality goods
(1 mark per each, total 2)

(ii) * Online classes * Online buying and selling * Pharmaceuticals * Face masks
manufacturing
(1 mark per each, total 4)

(iii) (a) No. (1 mark)


Capital items include the fixed assets which are purchased by the business for their usage
too. (1 mark)

(b) * Transactions are taken place * Buyers and sellers are connected * exchange
taken place (1 mark per each, total 2)

(iv) * Lack of knowledge to use internet


* Cannot check the good physically
* Risk is higher than physical market
* Lack of infrastructure facilities
(0.5 per each and 0.5 per each explanation, total 4)

(v) (a) Durable goods :- Television (1 mark)


Non durable goods :- Toothpaste (1 mark)

(b) “To be the best restaurant in the world” (2 marks)

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