Syllabus

Cambridge IGCSE™
Business Studies 0450
Use this syllabus for exams in 2026.
Exams are available in the June and November
series. Exams are also available in the March
series in India.

Version 1
For the purposes of screen readers, any mention in this document of Cambridge
IGCSE refers to Cambridge International General Certificate of Secondary
Education.
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Contents

Why choose Cambridge International?..........................................................................2

1 Why choose this syllabus?.......................................................................................... 4

2 Syllabus overview......................................................................................................... 7
Aims 7
Content overview 8
Assessment overview 9
Assessment objectives 10

3 Subject content.......................................................................................................... 12

4 Details of the assessment.......................................................................................... 25

Paper 1 – Short Answer and Data Response 25
Paper 2 – Case Study 25
Command words 26

5 What else you need to know...................................................................................... 27

Before you start 27
Making entries 28
Accessibility and equality 28
After the exam 29
How students and teachers can use the grades 30
Changes to this syllabus for 2026 31

Important: Changes to this syllabus

The latest syllabus is version 1, published September 2023. There are no significant changes
which affect teaching.
Any textbooks endorsed to support the syllabus for examination from 2020 are still suitable
for use with this syllabus.
 Cambridge IGCSE Business Studies 0450 syllabus for
2026.

1 Why choose this syllabus?

Key benefits
Cambridge IGCSE is the world’s most popular international qualification for 14 to 16 year olds,
although it can be taken by students of other ages. It is tried, tested and trusted.

Students can choose from 70 subjects in any combination – it is taught by over 5000 schools in 150
countries.

Our programmes promote a thorough knowledge and understanding of a subject and help to
develop the skills learners need for their next steps in education or employment.

Cambridge IGCSE Business Studies is accepted by universities and employers as proof of an

understanding of business concepts and techniques across a range of different types of businesses.
Learners will be able to:
 understand different forms of business organisations, the environments in which
businesses operate and business functions such as marketing, operations and finance
 appreciate the role of people in business success.

They will also gain lifelong skills, including:

 the ability to calculate and interpret business data
 communication skills needed to support arguments with reasons
 the ability to analyse business situations and reach decisions or judgements.

Our programmes balance a thorough knowledge and understanding of a subject and help to
develop the skills learners need for their next steps in education or employment.

Our approach in Cambridge IGCSE Business Studies encourages learners to be:

Cambridge
learner

School feedback: ‘The strength of Cambridge IGCSE qualifications is internationally

recognised and has provided an international pathway for our students to continue
their studies around the world.’
Feedback from: Gary Tan, Head of Schools and CEO, Raffles Group of Schools, Indonesia

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 Cambridge IGCSE Business Studies 0450 syllabus for 2026. Why choose this
syllabus?

International recognition and acceptance

Our expertise in curriculum, teaching and learning, and assessment is the basis for the
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knowledge and skills in Cambridge IGCSE Business Studies gives learners a solid foundation
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Cambridge IGCSEs are accepted and valued by leading universities and employers around
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International AS & A Levels and Cambridge IGCSEs or equivalent to meet their entry
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UK ENIC, the national agency in the UK for the recognition and comparison of international
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Feedback from: Managing Director of British School of Egypt BSE

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 Cambridge IGCSE Business Studies 0450 syllabus for 2026. Why choose this
syllabus?

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 Cambridge IGCSE Business Studies 0450 syllabus for
2026.

2 Syllabus overview

Aims
The aims describe the purposes of a course based on this syllabus.

The aims are to enable students to:

 apply their knowledge and critical understanding to current issues and problems in a
wide range of business contexts
 make effective use of relevant terminology, concepts and methods, and recognise the
strengths and limitations of the ideas used in business
 distinguish between facts and opinions, and evaluate qualitative and quantitative data in
order to help build arguments and make informed judgements
 appreciate the perspectives of a range of stakeholders in relation to the business
environment, individuals, society, government and enterprise
 develop knowledge and understanding of the major groups and organisations within and
outside business, and consider ways in which they are able to influence objectives,
decisions and activities
 develop knowledge and understanding of how the main types of businesses are organised,
financed and operated, and how their relations with other organisations, consumers,
employees, owners and society are regulated
 develop skills of numeracy, literacy, enquiry, selection and use of relevant sources
of information, presentation and interpretation
 develop an awareness of the nature and significance of innovation and change within
the context of business activities
 acquire a foundation for further study of business or other subjects.

Cambridge Assessment International Education is an education organisation and politically

neutral. The contents of this syllabus, examination papers and associated materials do
not endorse any political view. We endeavour to treat all aspects of the exam process
neutrally.

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 Cambridge IGCSE Business Studies 0450 syllabus for 2026. Syllabus
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Content overview
1 Understanding business activity
This section introduces the underlying ideas and concepts of business and includes the
purpose and nature of business activity and how businesses can be classified. Enterprise
and entrepreneurs, and why some businesses grow while others remain small are further
important issues. How business size can be measured, types of business organisation,
business objectives and stakeholder objectives are the concluding topics.

2 People in business
The focus is the functional area of human resources and includes the importance and
methods of motivating a workforce. How businesses are organised and managed and the
methods of recruitment, selection and training of employees are also considered. Finally,
the section covers the importance and methods of effective internal and external
communication.

3 Marketing
This section includes the role of marketing, the distinctions between niche and mass
markets and the techniques of market segmentation. The methods and importance of
market research are covered. The central role of the marketing mix, i.e. the four Ps, is made
clear. Marketing strategies to influence consumer decisions at home and in new foreign
markets are the final topics in this section.

4 Operations management
The focus is the functional area of production and includes the meaning and methods of
production and how productivity can be increased. The different costs of production and
break-even analysis are covered. The section concludes with the importance and methods
of achieving quality in the production process and location decisions of businesses.

5 Financial information and decisions

This finance and accounting section covers the need for and sources of business finance,
cash-flow forecasting and working capital. Simple income statements are covered as well as
statements of financial position and the analysis of accounts including why and how
accounts are used.

6 External influences on business activity

This section focuses on different external influences on business activity and how these
impact on a business. It includes government influences on economic, environmental and
ethical issues and how they impact on the functional areas of businesses. In addition, the
international economy including globalisation and its effects on businesses and
governments, multinational businesses and exchange rates are important issues. Legal
constraints are an external influence to be considered but these influences are covered in
the relevant functional areas above, as well as in this last section.

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Assessment overview
All candidates take two components. Candidates will be eligible for grades A* to G.

All candidates take: and:

Paper 1 1 hour 30 Paper 2 1 hour 30

minutes Short Answer and Data Response minutes
50% Case Study 50%
80 marks 80 marks
Four questions requiring a mixture of short Four questions based on a case study,
answers and structured data responses provided as an insert with the paper
Candidates answer all Candidates answer all
questions Externally questions Externally
assessed assessed

Information on availability is in the Before you start section.

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Assessment objectives
The assessment objectives (AOs) are:

AO1 Knowledge and understanding

 demonstrate knowledge and understanding of facts, terms, concepts,
conventions, theories and techniques commonly applied to or used as part of
business behaviour.

AO2 Application
 apply knowledge and understanding of facts, terms, concepts, conventions, theories and
techniques.

AO3 Analysis
 distinguish between evidence and opinion in a business context
 order, analyse and interpret information in narrative, numerical and graphical forms,
using appropriate techniques.

AO4 Evaluation
 present reasoned explanations, develop arguments, understand implications and draw inferences
 make judgements, recommendations and decisions.

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Weighting for assessment objectives

The approximate weightings allocated to each of the assessment objectives (AOs) are summarised
below.

Assessment objectives as a percentage of the qualification

Assessment objective Weighting in IGCSE %

AO1 Knowledge and understanding 40

AO2 Application 20

AO3 Analysis 25

AO4 Evaluation 15

Total 100

Assessment objectives as a percentage of each component

Assessment objective Weighting in components %

Paper 1 Paper 2

AO1 Knowledge and understanding 50 30

AO2 Application 20 20

AO3 Analysis 20 30

AO4 Evaluation 10 20

Total 100 100

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 Cambridge IGCSE Business Studies 0450 syllabus for
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3 Subject content

This syllabus gives you the flexibility to design a course that will interest, challenge and engage
your learners. Where appropriate you are responsible for selecting topics, subject contexts,
resources and examples to support your learners’ study. These should be appropriate for the
learners’ age, cultural background and learning context as well as complying with your school
policies and local legal requirements.

In all of the following, candidates are required to apply their understanding to a variety of
simple business situations. Candidates should be able to make simple decisions based upon the
analysis and evaluation of information provided.

1 Understanding business activity

1.1 Business activity

1.1.1 The purpose and nature of business  Concepts of needs, wants,

activity: scarcity and opportunity cost
 Importance of specialisation
 Purpose of business activity
 The concept of adding value and how
added value can be increased

1.2 Classification of businesses

1.2.1 Economic sectors in terms of primary,  Basis of business classification, using

secondary and tertiary sectors: examples to illustrate the classification
 Reasons for the changing importance
of business classification, e.g. in
developed and developing economies

1.2.2 Classify business enterprises between

private sector and public sector in a
mixed economy

1.3 Enterprise, business growth and size

1.3.1 Enterprise and entrepreneurship:  Characteristics of successful

entrepreneurs
 Contents of a business plan and how
business plans assist entrepreneurs
 Why and how governments support
business
start-ups, e.g. grants, training schemes

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1.3 Enterprise, business growth and size continued

1.3.2 The methods and problems of  Methods of measuring business size,

measuring business size: e.g. number of people employed,
value of output, capital employed
(profit is not a method of measuring
business size)
 Limitations of methods of measuring
business size

1.3.3 Why some businesses grow and  Why the owners of a business may
others remain small: want to expand the business
 Different ways in which businesses can
grow,
e.g. internal/external
 Problems linked to business growth
and how these might be overcome
 Why some businesses remain small

1.3.4 Why some (new or established)  Causes of business failure, e.g. lack
businesses fail: of management skills, changes in the
business environment, liquidity
problems
 Why new businesses are at a greater
risk of failing

1.4 Types of business organisation

1.4.1 The main features of different forms of  Sole traders, partnerships, private and
business organisation: public limited companies, franchises
and joint ventures
 Differences between
unincorporated businesses and
limited companies
 Concepts of risk, ownership and limited
liability
 Recommend and justify a suitable form
of business organisation to
owners/management in a given
situation
 Business organisations in the public
sector,
e.g. public corporations

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1.5 Business objectives and stakeholder objectives

1.5.1 Businesses can have several  Need for business objectives

objectives and the importance of and the importance of them
them can change:  Different business objectives, e.g.
survival, growth, profit and market
share
 Objectives of social enterprises

1.5.2 The role of stakeholder groups  Main internal and external stakeholder
involved in business activity: groups
 Objectives of different stakeholder groups
 How these objectives might conflict
with each other, use examples

1.5.3 Differences in the objectives of private

sector and public sector enterprises

2 People in business
2.1 Motivating employees

2.1.1 The importance of a well-motivated  Why people work and what motivation
workforce: means
 The benefits of a well-motivated
workforce: labour productivity, reduced
absenteeism and labour turnover
 The concept of human needs, e.g.
Maslow’s hierarchy
 Key motivational theories: Taylor and
Herzberg

2.1.2 Methods of motivation:  Financial rewards, e.g. wage, salary,

bonus, commission and profit sharing
 Non-financial methods, e.g. job
enrichment, job rotation, teamworking,
training, opportunities for promotion
 Recommend and justify appropriate
method(s)
of motivation in given circumstances

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2.2 Organisation and management

2.2.1 Draw, interpret and understand simple  Simple hierarchical structures: levels
organisational charts: of hierarchy, span of control, chain of
command
e.g. tall/short
 Roles and responsibilities of directors,
managers, supervisors, other
employees in an organisation and inter-
relationships between them

2.2.2 The role of management:  Functions of management, e.g.

planning, organising, coordinating,
commanding and controlling
 Importance of delegation; trust versus
control

2.2.3 Leadership styles:  Features of the main leadership styles,

e.g. autocratic, democratic and laissez-
faire
 Recommend and justify an
appropriate leadership style in
given circumstances

2.2.4 Trade unions:  What a trade union is and the

effects of employees being union
members

2.3 Recruitment, selection and training of employees

2.3.1 Recruitment and selecting employees:  Recruitment and selection methods

 Difference between internal
recruitment and external recruitment
 Main stages in recruitment and
selection of employees
 Recommend and justify who to employ
in given circumstances
 Benefits and limitations of part-time
employees and full-time employees

2.3.2 The importance of training and the  Importance of training to a business

methods of training: and to employees
 Benefits and limitations of induction
training,
on-the-job training and off-the-job training

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2.3 Recruitment, selection and training of employees continued

2.3.3 Why reducing the size of the workforce  Difference between dismissal and
might be necessary: redundancy with examples
 Understand situations in which
downsizing the workforce might be
necessary, e.g. automation or reduced
demand for products
 Recommend and justify which
employees to make redundant in
given circumstances

2.3.4 Legal controls over employment issues  Legal controls over employment
and their impact on employers and contracts, unfair dismissal,
employees: discrimination, health and safety,
legal minimum wage

2.4 Internal and external communication

2.4.1 Why effective communication is  Effective communication and its

important and the methods used to importance to business
achieve it:  Benefits and limitations of different
communication methods including those
based on information technology (IT)
 Recommend and justify which
communication method to use in given
circumstances

2.4.2 Demonstrate an awareness of  How communication barriers arise

communication barriers: and problems of ineffective
communication; how communication
barriers can be reduced or
removed

3 Marketing
3.1 Marketing, competition and the customer

3.1.1 The role of marketing:  Identifying customer needs

 Satisfying customer needs
 Maintaining customer loyalty
 Building customer relationships

3.1.2 Market changes:  Why customer/consumer spending

patterns may change
 The importance of changing customer
needs
 Why some markets have become
more competitive
 How businesses can respond to changing
spending patterns and increased competition

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3.1 Marketing, competition and the customer continued

3.1.3 Concepts of niche marketing and  Benefits and limitations of both

mass marketing: approaches to marketing

3.1.4 How and why market  How markets can be segmented, e.g.
segmentation is undertaken: according to age, socio-economic
grouping, location, gender
 Potential benefits of segmentation to
business
 Recommend and justify an appropriate
method of segmentation in given
circumstances

3.2 Market research

3.2.1 The role of market research and  Market-orientated businesses (uses of

methods used: market research information to a
business)
 Primary research and secondary
research (benefits and limitations of
each)
 Methods of primary research, e.g.
postal questionnaire, online survey,
interviews, focus groups
 The need for sampling
 Methods of secondary research, e.g.
online, accessing government
sources, paying for commercial
market research reports
 Factors influencing the accuracy of
market research data

3.2.2 Presentation and use of market  Analyse market research data shown
research results: in the form of graphs, charts and
diagrams; draw
simple conclusions from such data

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3.3 Marketing mix

3.3.1 Product:  The limitations and benefits of

developing new products
 Brand image; impact on sales and
customer loyalty
 The role of packaging
 The product life cycle: main stages
and extension strategies; draw and
interpret a product life cycle
diagram
 How stages of the product life cycle
can influence marketing decisions, e.g.
promotion and pricing decisions

3.3.2 Price:  Pricing methods (benefits and

limitations of different methods), e.g.
cost plus, competitive, penetration,
skimming, and promotional
 Recommend and justify an appropriate
pricing method in given circumstances
 Understand the significance of price
elasticity: difference between price
elastic demand and price inelastic
demand; importance of the concept in
pricing decisions (knowledge of the
formula and calculations of PED will not be
assessed)

3.3.3 Place – distribution channels:  Advantages and disadvantages of

different channels, e.g. use of
wholesalers, retailers or direct to
consumers
 Recommend and justify an
appropriate distribution channel in
given circumstances

3.3.4 Promotion:  The aims of promotion

 Different forms of promotion and
how they influence sales, e.g.
advertising, sales promotion
 The need for cost-effectiveness in
spending the marketing budget on
promotion

3.3.5 Technology and the marketing mix:  Define and explain the concept of e-
commerce
 The opportunities and threats of e-
commerce to business and consumers
 Use of the internet and social media
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3.4 Marketing strategy

3.4.1 Justify marketing strategies appropriate  Importance of different elements

to a given situation: of the marketing mix in
influencing consumer decisions
in given circumstances
 Recommend and justify an
appropriate marketing strategy in
given circumstances

3.4.2 The nature and impact of legal  Impact of legal controls on marketing
controls related to marketing: strategy, e.g. misleading promotion,
faulty and dangerous goods

3.4.3 The opportunities and problems of  Growth potential of new markets

entering new foreign markets: in other countries
 Problems of entering foreign markets,
e.g. cultural differences and lack of
knowledge
 Benefits and limitations of methods to
overcome such problems, e.g. joint
ventures, licensing

4 Operations management
4.1 Production of goods and services

4.1.1 The meaning of production:  Managing resources effectively to

produce goods and services
 Difference between production and
productivity
 Benefits of increasing efficiency and
how to increase it, e.g. increasing
productivity by automation and
technology, improved labour skills
 Why businesses hold inventories
 The concept of lean production: how to
achieve it, e.g. just-in-time inventory
control and Kaizen; benefits of lean
production

4.1.2 The main methods of production:  Features, benefits and limitations of

job, batch and flow production
 Recommend and justify an
appropriate production method
for a given situation

4.1.3 How technology has changed and

is changing production methods,

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e.g. using computers in design and content
manufacturing

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4.2 Costs, scale of production and break-even analysis

4.2.1 Identify and classify costs:  Classifying costs using examples, e.g.
fixed, variable, average, total
 Use cost data to help make simple cost-
based decisions, e.g. to stop production
or continue

4.2.2 Economies and diseconomies of scale:  The concept of economies of scale with
examples, e.g. purchasing, marketing,
financial, managerial, technical
 The concept of diseconomies of
scale with examples, e.g. poor
communication, lack of commitment
from employees, weak coordination

4.2.3 Break-even analysis:  The concept of break-even

 Construct, complete or amend a
simple break-even chart
 Interpret a given chart and use it to
analyse a situation
 Calculate break-even output from given
data
 Define, calculate and interpret the
margin of safety
 Use break-even analysis to help make
simple decisions, e.g. impact of higher
price
 Understand the limitations of
break-even analysis

4.3 Achieving quality production

4.3.1 Why quality is important and how  What quality means and why it is
quality production might be achieved: important for all businesses
 The concept of quality control
and how businesses implement
quality control
 The concept of quality assurance and
how this can be implemented

4.4 Location decisions

4.4.1 The main factors influencing the location  Factors relevant to the location
and relocation decisions of a business: decision of manufacturing
businesses and service businesses
 Factors that a business could consider
when deciding which country to locate
operations in
 The role of legal controls on location
decisions

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content  Recommend and justify an appropriate
location
for a business in given circumstances

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5 Financial information and decisions

5.1 Business finance: needs and sources

5.1.1 The need for business finance:  The main reasons why businesses
need finance, e.g. start-up capital,
capital for expansion and
additional working capital
 Understand the difference between
short-term and long-term finance needs

5.1.2 The main sources of finance:  Internal sources and external

sources with examples
 Short-term and long-term sources with
examples, e.g. overdraft for short-term
finance and debt or equity for long-
term finance
 Importance of alternative sources of
capital,
e.g. micro-finance, crowd-funding
 The main factors considered in
making the financial choice, e.g.
size and legal form of business,
amount required, length of time,
existing loans
 Recommend and justify appropriate
source(s) of finance in given
circumstances
5.2 Cash-flow forecasting and working capital

5.2.1 The importance of cash and of cash-  Why cash is important to a business
flow forecasting:  What a cash-flow forecast is, how a
simple one is constructed and the
importance of it
 Amend or complete a simple cash-flow
forecast
 How to interpret a simple cash-flow
forecast
 How a short-term cash-flow problem
might be overcome, e.g. overdraft,
delaying supplier payments, asking
debtors to pay more quickly

5.2.2 Working capital:  The concept and importance of working

capital

5.3 Income statements

5.3.1 What profit is and why it is important:  How a profit is made

 Importance of profit to private
sector businesses, e.g. reward
for risk-taking/ enterprise, source
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content of finance
 Difference between profit and cash

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5.3 Income statements continued

5.3.2 Income statements:  Main features of an income statement,

e.g. revenue, cost of sales, gross
profit, profit and retained profit
 Use simple income statements in
decision- making based on profit
calculations (constructing income
statements will not be assessed)

5.4 Statement of financial position

5.4.1 The main elements of a statement of  The main classifications of assets and
financial position: liabilities, using examples

5.4.2 Interpret a simple statement of

financial position and make
deductions from it,
e.g. how a business is financing its
activities and what assets it owns, sale
of inventories to raise finance
(constructing statements of financial
position will not be assessed)
5.5 Analysis of accounts

5.5.1 Profitability:  The concept and importance of

profitability

5.5.2 Liquidity:  The concept and importance of liquidity

5.5.3 How to interpret the financial  Gross profit margin

performance of a business by  Profit margin
calculating and analysing  Return on Capital Employed
profitability ratios and liquidity
 Current ratio
ratios:
 Acid test ratio

5.5.4 Why and how accounts are used:  Needs of different users of accounts
and ratio analysis
 How users of accounts and ratio results
might
use information to help make decisions,
e.g. whether to lend to or invest in the
business

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6 External influences on business activity

6.1 Economic issues

6.1.1 Business cycle:  Main stages of the business cycle, e.g.

growth, boom, recession, slump
 Impact on businesses of changes
in employment levels, inflation
and Gross Domestic Product
(GDP)

6.1.2 How government control over the  Identify government economic objectives,
economy affects business activity and e.g. increasing Gross Domestic Product
how businesses may respond: (GDP)
 Impact of changes in taxes and
government spending
 Impact of changes in interest rates
 How businesses might respond to
these changes

6.2 Environmental and ethical issues

6.2.1 Environmental concerns and ethical  How business activity can impact
issues as both opportunities and on the environment, e.g. global
constraints for businesses: warming
 The concept of externalities: possible
external costs and external benefits of
business decisions
 Sustainable development; how business
activity can contribute to this
 How and why business might
respond to environmental pressures
and opportunities,
e.g. pressure groups
 The role of legal controls over business
activity affecting the environment, e.g.
pollution controls
 Ethical issues a business might face:
conflicts between profits and ethics
 How business might react and respond to
ethical issues, e.g. child labour, paying
fair prices to suppliers

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6.3 Business and the international economy

6.3.1 The importance of globalisation:  The concept of globalisation and the

reasons for it
 Opportunities and threats of
globalisation for businesses
 Why governments might introduce
import tariffs and import quotas

6.3.2 Reasons for the importance and  Benefits to a business of becoming a

growth of multinational companies multinational and the impact on its
(MNCs): stakeholders
 Potential benefits to a country and/or
economy where a MNC is located, e.g.
jobs, exports, increased choice,
investment
 Potential drawbacks to a country and/or
economy where a MNC is located, e.g.
reduced sales of local businesses,
repatriation of profits

6.3.3 The impact of exchange rate changes:  Depreciation and appreciation of an

exchange rate
 How exchange rate changes can affect
businesses as importers and
exporters of products,
e.g. prices, competitiveness, profitability
(exchange rate calculations will not be
assessed)

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 Cambridge IGCSE Business Studies 0450 syllabus for
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4 Details of the assessment

Paper 1 – Short Answer and Data Response

Written paper, 1 hour 30 minutes, 80 marks

The question paper comprises four questions requiring a mixture of short answers and
structured data responses.

The paper assesses content drawn from the entire syllabus.

Each question is introduced by stimulus material. For some questions candidates will need to
refer to the stimulus material in their answers. The stimulus material may include tables,
graphs and images.

Candidates answer all questions.

Candidates should be aware of the marks for each part question. These are printed on the
question paper. Candidates should use them as a guide to the amount of detail and length of
response expected and to help them manage their time effectively.

Candidates write their answers on the question

paper. The paper assesses the following

assessment objectives:
AO1: Knowledge and
understanding AO2: Application
AO3: Analysis
AO4: Evaluation

Paper 2 – Case Study

Written paper, 1 hour 30 minutes, 80 marks

The question paper comprises four questions based on a case study, provided as an insert with
the paper. The case study includes appendices with data presented in a variety of forms, such
as tables, graphs, newspaper extracts and advertisements.

The paper assesses content drawn from the entire

syllabus. Candidates answer all questions.

Candidates should be aware of the marks for each part question. These are printed on the
question paper. Candidates should use them as a guide to the amount of detail and length of
response expected and to help them manage their time effectively.

Candidates write their answers on the question paper.

The paper assesses the following assessment

objectives: AO1: Knowledge and understanding
AO2: Application
AO3: Analysis

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AO4: Evaluation 2026.

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Command words
Command words and their meanings help candidates know what is expected from them in the
exams. The table below includes command words used in the assessment for this syllabus.
The use of the command word will relate to the subject context.

Command word What it means

Calculate work out from given facts, figures or information

Consider review and respond to given information

Define give precise meaning

Explain set out purposes or reasons / make the relationships between things clear /
say why and/or how and support with relevant evidence

Identify name/select/recognise

Justify support a case with evidence/argument

Outline set out the main points

State express in clear terms

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5 What else you need to know

This section is an overview of other information you need to know about this syllabus. It will
help to share the administrative information with your exams officer so they know when you
will need their support. Find more information about our administrative processes at
www.cambridgeinternational.org/eoguide

Before you start

Previous study
We recommend that learners starting this course should have studied a broad curriculum such
as the Cambridge Lower Secondary programme or equivalent national educational framework.

We do not expect learners starting this course to have previously studied Business Studies.

Guided learning hours

We design Cambridge IGCSE syllabuses to require about 130 guided learning hours for each
subject. This is for guidance only. The number of hours a learner needs to achieve the
qualification may vary according to each school and the learners’ previous experience of the
subject.

Availability and timetables

All Cambridge schools are allocated to one of six administrative zones. Each zone has a
specific timetable. Find your administrative zone at
www.cambridginternational.org/adminzone

You can view the timetable for your administrative zone at

www.cambridgeinternational.org/timetables

You can enter candidates in the June and November exam series. If your school is in India, you
can also enter your candidates in the March exam series.

Check you are using the syllabus for the year the candidate is taking the exam.

Private candidates can enter for this syllabus. For more information, please refer to the
Cambridge Guide to Making Entries.

Combining with other syllabuses

Candidates can take this syllabus alongside other Cambridge International syllabuses in a single
exam series. The only exceptions are:
 Cambridge IGCSE (9–1) Business Studies (0986)
 Cambridge O Level Business Studies (7115)
 syllabuses with the same title at the same level.

Cambridge IGCSE, Cambridge IGCSE (9–1) and Cambridge O Level syllabuses are at the same level.

Group awards: Cambridge ICE

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 Cambridge IGCSE Business Studies 0450 syllabus for
Cambridge ICE (International Certificate of Education) is2026.
a group award for Cambridge IGCSE. It
encourages schools to offer a broad and balanced curriculum by recognising the achievements
of learners who pass exams in a range of different subjects.

Learn more about Cambridge ICE at www.cambridgeinternational.org/cambridgeice

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 Cambridge IGCSE Business Studies 0450 syllabus for 2026. What else you need
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Making entries
Exams officers are responsible for submitting entries to Cambridge International. We
encourage them to work closely with you to make sure they enter the right number of
candidates for the right combination of syllabus components. Entry option codes and
instructions for submitting entries are in the Cambridge Guide to Making Entries. Your exams
officer has access to this guide.

Exam administration
To keep our exams secure, we produce question papers for different areas of the world, known
as administrative zones. We allocate all Cambridge schools to an administrative zone
determined by their location. Each zone has a specific timetable.

Some of our syllabuses offer candidates different assessment options. An entry option code is
used to identify the components the candidate will take relevant to the administrative zone
and the available assessment options.

Support for exams officers

We know how important exams officers are to the successful running of exams. We provide
them with the support they need to make entries on time. Your exams officer will find this
support, and guidance for all other phases of the Cambridge Exams Cycle, at
www.cambridgeinternational.org/eoguide

Retakes
Candidates can retake the whole qualification as many times as they want to. Information on retake
entries is at
www.cambridgeinternational.org/retakes

Language
This syllabus and the related assessment materials are available in English only.

Accessibility and equality

Syllabus and assessment design
At Cambridge International, we work to avoid direct or indirect discrimination in our syllabuses
and assessment materials. We aim to maximise inclusivity for candidates of all national, cultural
or social backgrounds and candidates with protected characteristics, which include special
educational needs and disability, religion and belief, and characteristics related to gender and
identity. We also aim to make our materials as accessible as possible by using accessible
language and applying accessible design principles. This gives all candidates the fairest
possible opportunity to demonstrate their knowledge, skills and understanding and helps to
minimise the requirement to make reasonable adjustments during the assessment process.

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Access arrangements
Access arrangements (including modified papers) are the principal way in which Cambridge
International complies with our duty, as guided by the UK Equality Act (2010), to make
‘reasonable adjustments’ for candidates with special educational needs (SEN), disability, illness
or injury. Where a candidate would otherwise be at a substantial disadvantage in comparison to
a candidate with no SEN, disability, illness or injury, we
may be able to agree pre-examination access arrangements. These arrangements help a
candidate by minimising accessibility barriers and maximising their opportunity to demonstrate
their knowledge, skills and understanding in an assessment.

Important:
Requested access arrangements should be based on evidence of the candidate’s barrier to
assessment and should also reflect their normal way of working at school. This is explained in
the Cambridge Handbook www.cambridgeinternational.org/eoguide
 For Cambridge International to approve an access arrangement, we will need to agree
that it constitutes a reasonable adjustment, involves reasonable cost and timeframe and
does not affect the security and integrity of the assessment.
 Availability of access arrangements should be checked by centres at the start of the
course. Details of our standard access arrangements and modified question papers are
available in the Cambridge Handbook www.cambridgeinternational.org/eoguide
 Please contact us at the start of the course to find out if we are able to approve an
arrangement that is not included in the list of standard access arrangements.
 Candidates who cannot access parts of the assessment may be able to receive an award
based on the parts they have completed.

After the exam

Grading and reporting
Grades A*, A, B, C, D, E, F or G indicate the standard a candidate achieved at Cambridge IGCSE.

A* is the highest and G is the lowest. ‘Ungraded’ means that the candidate’s performance did
not meet the standard required for grade G. ‘Ungraded’ is reported on the statement of results
but not on the certificate.

In specific circumstances your candidates may see one of the following letters on their statement of
results:
 Q (PENDING)
 X (NO RESULT).
These letters do not appear on the certificate.

On the statement of results and certificates, Cambridge IGCSE is shown as INTERNATIONAL GENERAL
CERTIFICATE OF SECONDARY EDUCATION (IGCSE).

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How students and teachers can use the grades

Assessment at Cambridge IGCSE has two purposes:
1 to measure learning and achievement
The assessment confirms achievement and performance in relation to the knowledge,
understanding and skills specified in the syllabus.
2 to show likely future success
The outcomes help predict which students are well prepared for a particular course or career
and/or which students are more likely to be successful.
The outcomes help students choose the most suitable course or career.

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Changes to this syllabus for 2026

The syllabus has been updated. This is version 1, published September 2023.

You must read the whole syllabus before planning your teaching programme. We review our
syllabuses regularly to make sure they continue to meet the needs of our schools. In updating
this syllabus, we have made it easier for teachers and students to understand, keeping the
familiar features that teachers and schools value.

There are no significant changes to syllabus content.

Any textbooks endorsed to support the syllabus for examination from 2020 are still
suitable for use with this syllabus.

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School feedback: ‘While studying Cambridge IGCSE and Cambridge International A Levels,
students broaden their horizons through a global perspective and develop a lasting
passion for learning.’
Feedback from: Zhai Xiaoning, Deputy Principal, The High School Affiliated to Renmin University of China

We are committed to making our documents accessible in accordance with the WCAG 2.1 Standard. We are always
looking to improve the accessibility of our documents. If you find any problems or you think we are not meeting
accessibility requirements, contact us at [email protected] with the subject heading: Digital
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© Cambridge University Press & Assessment September 2023