Cambridge IGCSE Business Studies Grade Thresholds June 2024

Grade thresholds – June 2024 Cambridge IGCSE™ Business Studies (0450) Grade thresholds taken for Syllabus 0450 (Business Studies) in the June 2024 examination. Minimum raw mark required for grade: Maximum raw mark available A B C D E F G Component 11 80 36 27 19 16 13 11 9 Component 12 80 49 39 30 24 18 13 8 Component 13 80 37 30 23 19 15 12 9 Component 21 80 39 32 25 21 17 13 9 Component 22 80 38 30 22 19 16 13 10 Component 23 80 40 31 22 19 16 13 10 Component 50 90 67 57 48 40 33 24 15 Grade A* does not exist at the level of an individual component. The overall thresholds for the different grades were set as follows. Option Maximum mark after weighting Combination of components A* A B C D E F G P1 90 50 77 67 57 48 40 33 24 15 X 160 11, 21 91 75 59 44 37 30 24 18 Y 160 12, 22 105 87 69 52 43 34 26 18 Z 160 13, 23 93 77 61 45 38 31 25 19 Learn more! For more information please visit www.cambridgeinternational.org/igcse or contact Customer Services on +44 (0)1223 553554 or email info@cambridgeinternational.org © Cambridge University Press & Assessment 2024 ™ Cambridge IGCSE *4078717423* BUSINESS STUDIES Paper 1 Short Answer and Data Response 0450/11 May/June 2024 1 hour 30 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. This document has 12 pages. Any blank pages are indicated. 06_0450_11_2024_1.9 © UCLES 2024 [Turn over 2 1 FBM is a boat building business. It has 100 skilled employees. The Operations Director is concerned that FBM holds a high level of inventory. She is also concerned that the business is starting to experience diseconomies of scale. The Finance Director has been asked to analyse FBM’s cost and output data. An extract is shown in Table 1.1. Table 1.1 Extract from FBM’s cost and output data Variable costs per unit $5000 Fixed costs per year $600 000 Number of boats made each year 300 (a) Define ‘diseconomies of scale’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two ways a business can use cost data to help make decisions. Way 1: ............................................................................................................................... ........................................................................................................................................... Way 2: ............................................................................................................................... ........................................................................................................................................... [2] (c) Identify four fixed costs a business might have. Fixed cost 1: ..................................................................................................................... ........................................................................................................................................... Fixed cost 2: ..................................................................................................................... ........................................................................................................................................... Fixed cost 3: ..................................................................................................................... ........................................................................................................................................... Fixed cost 4: ..................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [4] 3 (d) Explain one advantage and one disadvantage to FBM of holding a high level of inventory. Advantage: ....................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Disadvantage: ................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think customers have a more important role in the success of a business than its employees? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [6] [Turn over 4 2 ADN is a food retailer. It has 5 shops and 300 full-time employees. All ADN’s employees receive off-the-job training. ADN has a tall hierarchical structure. Managers have a narrow span of control and all use an autocratic leadership style. ADN’s directors are planning to expand the business and cannot decide whether it is better for a business to use internal growth or external growth. (a) Define ‘span of control’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Define ‘autocratic leadership style’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (c) Outline two benefits to ADN of having full-time employees. Benefit 1: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Benefit 2: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [4] 5 (d) Explain one benefit and one limitation to ADN of using off-the-job training. Benefit: ............................................................................................................................. ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation: ......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think it is better for a business to use internal growth or external growth when planning to expand? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [6] [Turn over 6 3 IDT manufactures clothes for the mass market. It is a multinational company with factories in 4 countries. IDT has short-term and long-term financial needs. The Finance Director is analysing IDT’s statement of financial position. An extract is shown in Table 3.1. He has been asked to calculate working capital and to explain how an increase in non-current liabilities might affect IDT. Table 3.1 Extract from IDT’s statement of financial position ($ million) 2022 2023 Current assets 380 420 Current liabilities 250 280 Non-current liabilities 300 400 (a) Define ‘mass market’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Calculate IDT’s working capital in 2023. Working: ........................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Final answer: .................................................................................................................... [2] (c) Outline one reason why IDT might need the following types of finance: Short-term finance: ........................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Long-term finance: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [4] 7 (d) Explain two ways an increase in non-current liabilities might affect IDT. Way 1: ............................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Way 2: ............................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Explain two advantages to a business of being a multinational company. Which advantage do you think is likely to be the most important? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [6] [Turn over 8 4 CFG is a social enterprise. It buys cocoa beans from local farmers and then uses the beans to make chocolate. Being ethical is important to the business. CFG has developed a new chocolate bar. The Marketing Manager plans to use skimming as its pricing method, and retailers as its distribution channel for the new product. He knows there are many legal controls over marketing that might affect a business. (a) Define ‘social enterprise’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two ways legal controls over marketing might affect a business. Way 1: ............................................................................................................................... ........................................................................................................................................... Way 2: ............................................................................................................................... ........................................................................................................................................... [2] (c) Outline one advantage and one disadvantage to CFG of using skimming as its pricing method. Advantage: ....................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Disadvantage: ................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [4] 9 (d) Explain one advantage and one disadvantage to CFG of using retailers as its distribution channel for the new product. Advantage: ....................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Disadvantage: ................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think being ethical will always lead to lower profit for a business? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_11_2024_1.9 [6] 10 BLANK PAGE © UCLES 2024 06_0450_11_2024_1.9 11 BLANK PAGE © UCLES 2024 06_0450_11_2024_1.9 12 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_11_2024_1.9 * 0019655495801 * , , ™ Cambridge IGCSE ¬Wz> 3mKmSE5FpW ¬8c=]mmjvK~Fs ¥5u5eE55¥U5e¥uU *4325949627* 0450/12 BUSINESS STUDIES Paper 1 Short Answer and Data Response May/June 2024 1 hour 30 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. This document has 12 pages. Any blank pages are indicated. 06_0450_12_2024_1.11 © UCLES 2024 [Turn over , 1 2 , Nicky wants to be a successful entrepreneur. She plans to start up a travel business specialising in walking holidays. Nicky will be operating in a niche market. She is preparing a business plan to help with her decision-making. Nicky has been told government support is available for business start-ups. She knows building customer relationships will be important. (a) Identify two reasons why a government might support business start-ups. DO NOT WRITE IN THIS MARGIN * 0019655495802 * Reason 1: ......................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... [2] (b) Identify two ways a business can build customer relationships. Way 1: ............................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... [2] (c) Outline one benefit and one limitation to Nicky’s business of operating in a niche market. Benefit: ............................................................................................................................. ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN Way 2: ............................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 ĬÕú¾Ġ³íËíÓĉÅĂ¸ĜÈî× Ĭ¸ĕäÀéùěÑöĄè¼øö±ûĂ ĥĥąĕµÕĥõõõĥåÕõÅåÕÕ 06_0450_12_2024_1.11 [4] DO NOT WRITE IN THIS MARGIN Limitation: ......................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655495803 * , 3 , (d) Explain one way each of the following sections in the business plan might be helpful to Nicky. Business objectives: ......................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Data about the market: ..................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Explain two characteristics of a successful entrepreneur. Which characteristic is likely to be the most important? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 Ĭ×ú¾Ġ³íËíÓĉÅĂ¸ĚÈî× Ĭ¸ĖãÈßõīèĄíġĠĀâ±ċĂ ĥĥõÕõµąĕĥąµåÕĕåĥÅÕ 06_0450_12_2024_1.11 [6] [Turn over , 2 4 , GTB is a business which operates in the tertiary sector. It owns 5 cafés selling food and drinks. The business uses social media as its method of promotion. The Finance Manager, Moeen, is analysing GTB’s financial statements. An extract is shown in Table 2.1. He is considering ways to improve GTB’s profit margin. Moeen knows there are other users that are interested in the accounts of a business. Table 2.1 DO NOT WRITE IN THIS MARGIN * 0019655495804 * Revenue $600 000 Profit $150 000 Capital employed $750 000 Profit margin 25% DO NOT WRITE IN THIS MARGIN Extract from GTB’s financial statements 2023 (a) Define ‘tertiary sector’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Calculate GTB’s Return on Capital Employed (ROCE). Show your working. Working: ........................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... Final answer: .................................................................................................................... [2] (c) Outline two ways GTB could improve its profit margin. Way 1: ............................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 ĬÕú¾Ġ³íËíÓĉÅĂ¶ĜÈð× Ĭ¸ĖâÈåćĞÓþöĪ¾äĄáóĂ ĥÕåÕµµąµąåÅåĕĕąĥÕÕ 06_0450_12_2024_1.11 [4] DO NOT WRITE IN THIS MARGIN Way 2: ............................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655495805 * , 5 , (d) Explain two advantages to GTB of using social media as its method of promotion. Advantage 1: .................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Advantage 2: .................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think banks are the main external users of the accounts of a business? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 Ĭ×ú¾Ġ³íËíÓĉÅĂ¶ĚÈð× Ĭ¸ĕáÀãċĎæüċßĚÜØáăĂ ĥÕÕĕõÕĥÕĕÕĕåĕõĥåÅÕ 06_0450_12_2024_1.11 [6] [Turn over , 3 6 , RBG is an oil company. It has operations in 6 countries. RBG has 2000 employees including 60 managers. Some of its managers use a laissez-faire leadership style. All of RBG’s internal communication uses information technology (IT) based methods. The Managing Director knows RBG’s business activities can create external costs and external benefits. She says: ‘Pressure groups often try to influence business decisions.’ (a) Define ‘laissez-faire leadership style’. DO NOT WRITE IN THIS MARGIN * 0019655495806 * ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two roles of a manager. Role 1: .............................................................................................................................. DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... Role 2: .............................................................................................................................. ........................................................................................................................................... [2] (c) Outline one external cost and one external benefit RBG’s business activities might create. External cost: .................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... External benefit: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 ĬÙú¾Ġ³íËíÓĉÅĂ·ĚÅî× Ĭ¸ĖáÃéģĘÞïúÖúäµĉóĂ ĥąõĕõõĥõÕµµåÕõÅĥĕÕ 06_0450_12_2024_1.11 [4] DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655495907 * , 7 , (d) Explain two methods of IT based communication RBG might use with its employees. Method 1: .......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Method 2: .......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Explain two ways a pressure group might try to influence business decisions. Which way do you think is likely to be the most effective? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 ĬÛù¿Ġ³íËíÓĉÅĂ¸ĚÅî× Ĭ¸ĖãÀæĔòÍîĆġÁĤµ¹ċĂ ĥµÕÕõÕÅĕµµĕåĕµÅååÕ 06_0450_12_2024_1.11 [6] [Turn over , 4 8 , DLT manufactures cups and plates in country X. Its factory uses flow production and has 75 employees. The Human Resources Director is aware that there are many legal controls over employment. DLT exports 30% of its products to country Y where it benefits from lower rates of taxation and no import quotas. DLT’s Managing Director is considering relocating its factory to another part of country X to meet the increased demand for its exports. (a) Define ‘import quota’. DO NOT WRITE IN THIS MARGIN * 0019655495908 * ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two benefits to a business of lower rates of taxation. Benefit 1: .......................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (c) Identify four legal controls over employment. Legal control 1: ................................................................................................................. ........................................................................................................................................... Legal control 2: ................................................................................................................. DO NOT WRITE IN THIS MARGIN Benefit 2: .......................................................................................................................... ........................................................................................................................................... Legal control 4: ................................................................................................................. ........................................................................................................................................... © UCLES 2024 ĬÙù¿Ġ³íËíÓĉÅĂ¶ĜÅð× Ĭ¸ĖâÀàĢ÷êôýĪģÀėéóĂ ĥąąÕµÕÅµÕĕĥåÕµĥåµÕ 06_0450_12_2024_1.11 [4] DO NOT WRITE IN THIS MARGIN Legal control 3: ................................................................................................................. DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655495909 * , 9 , (d) Explain one reason why DLT needs to consider each of the following factors when deciding where to relocate in country X: Suppliers: .......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Suitability of land: ............................................................................................................. ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think the advantages for a manufacturing business of using flow production are greater than the disadvantages? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 ĬÛù¿Ġ³íËíÓĉÅĂ¶ĚÅð× Ĭ¸ĕáÈêĞćÏĆôß·¸ÃéăĂ ĥąõĕõµåÕÅĥµåÕÕąĥåÕ 06_0450_12_2024_1.11 [6] DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN , © UCLES 2024 ĬÙù¿Ġ³íËíÓĉÅĂ·ĜÇî× Ĭ¸ėâÅÞĪġèûĆÄÿ¾óđċĂ ĥÕĥĕµÕĥµõåĥĥÕĕĥåąÕ , BLANK PAGE 06_0450_12_2024_1.11 DO NOT WRITE IN THIS MARGIN 10 DO NOT WRITE IN THIS MARGIN * 0019655495910 * DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN * 0019655495911 * , © UCLES 2024 11 ĬÛù¿Ġ³íËíÓĉÅĂ·ĚÇî× Ĭ¸Ęá½ìĦđÑýûąÛ¶çđûĂ ĥÕĕÕõµąÕĥÕµĥÕõąĥĕÕ , BLANK PAGE 06_0450_12_2024_1.11 , 12 , Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 ĬÙù¿Ġ³íËíÓĉÅĂµĜÇð× Ĭ¸Ęä½âĘĘæăôþùĚąāăĂ ĥĥÅÕµµąõąõÅĥĕõåĥąÕ 06_0450_12_2024_1.11 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN BLANK PAGE DO NOT WRITE IN THIS MARGIN * 0019655495912 * ™ Cambridge IGCSE *8737071254* BUSINESS STUDIES Paper 1 Short Answer and Data Response 0450/13 May/June 2024 1 hour 30 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. This document has 12 pages. Any blank pages are indicated. 06_0450_13_2024_1.12 © UCLES 2024 [Turn over 2 1 WFT is a primary sector business which harvests timber (wood) from trees. The Operations Manager knows there are many legal controls over business activity affecting the environment. WFT has 30 employees and uses a lot of technology to process the timber. The business is always considering ways to increase added value. WFT often needs finance. An extract from WFT’s statement of financial position is shown in Table 1.1. Table 1.1 Extract from WFT’s statement of financial position at 30 April 2024 $ Non-current assets 600 000 Current assets 120 000 Current liabilities 150 000 Non-current liabilities 320 000 (a) Identify one non-current asset and one non-current liability. Non-current asset: ............................................................................................................ ........................................................................................................................................... Non-current liability: .......................................................................................................... ........................................................................................................................................... [2] (b) Calculate WFT’s current ratio in 2024. Show your working. Working: ........................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Final answer: .................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [2] 3 (c) Outline two ways legal controls over business activity affecting the environment might affect WFT. Way 1: ............................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Way 2: ............................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [4] (d) Explain two factors WFT should consider when deciding on a source of finance. Factor 1: ........................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Factor 2: ........................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [6] [Turn over 4 (e) Explain two ways a business might increase added value. Which do you think is the best way? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [6] 5 2 Alana opened a restaurant in the city centre 5 years ago. The restaurant provides plant-based meals using a range of vegetables. Alana uses primary market research to help identify changes in consumer spending patterns. Market research can also be used to help segment a market. The restaurant has 16 employees. Each employee is paid the legal minimum wage. In 2023 the business made a profit of $80 000. Alana wants to know how an increase in interest rates might affect her business. (a) Define ‘profit’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two reasons why consumer spending patterns might change. Reason 1: ......................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... [2] (c) Outline two methods of primary market research Alana might use. Method 1: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Method 2: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [4] [Turn over 6 (d) Explain two possible effects of an increase in interest rates on Alana’s business. Effect 1: ............................................................................................................................. ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Effect 2: ............................................................................................................................. ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Do you think income is the best way for a business to segment a market? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [6] 7 3 CQT is a public limited company. It manufactures paint using flow production. This method of production allows CQT to benefit from economies of scale. CQT employs 50 workers. All CQT’s raw materials are currently bought from local suppliers. However, the Operations Director knows there are many reasons for globalisation. He has been asked to explain factors a business should consider when deciding whether to relocate its factory to another country. (a) Define ‘public limited company’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (b) Identify two reasons for globalisation. Reason 1: ......................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... [2] (c) Outline two economies of scale CQT might benefit from. Economy of scale 1: ......................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Economy of scale 2: ......................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [4] [Turn over 8 (d) Explain two limitations for CQT of using flow production. Limitation 1: ...................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation 2: ...................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Explain two factors a business should consider when deciding whether to relocate its factory to another country. Which factor is likely to be the most important? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [6] 9 4 MTO is a bank. It provides loans and other financial services to 1 million customers. MTO has 70 branches and 2800 employees. Many of its employees work part-time. The business has a tall organisational structure and its managers have a narrow span of control. Effective internal communication is important. One of MTO’s objectives is growth and the Human Resources Director has been asked to recruit a new manager. Information about applicant A is shown in Table 4.1. Table 4.1 Information about applicant A Qualifications University degree in Business Skills Good at decision-making Experience 18 months working at another business including 3 months as a manager (a) Identify two advantages to a business of having part-time employees. Advantage 1: .................................................................................................................... ........................................................................................................................................... Advantage 2: .................................................................................................................... ........................................................................................................................................... [2] (b) Define ‘organisational structure’. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [2] (c) Identify four reasons why effective internal communication is important for a business. Reason 1: ......................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... Reason 3: ......................................................................................................................... ........................................................................................................................................... Reason 4: ......................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [4] [Turn over 10 (d) Using Table 4.1, explain two reasons why MTO should select applicant A as its new manager. Reason 1: ......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [6] (e) Explain two reasons why a business might want to grow. Which reason is likely to be the most important? Justify your answer. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_13_2024_1.12 [6] 11 BLANK PAGE © UCLES 2024 06_0450_13_2024_1.12 12 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_13_2024_1.12 ™ Cambridge IGCSE BUSINESS STUDIES 0450/21 Paper 2 Case Study May/June 2024 INSERT 1 hour 30 minutes *3921137726-I* INFORMATION • This insert contains the case study. • You may annotate this insert and use the blank spaces for planning. Do not write your answers on the insert. This document has 4 pages. 06_0450_21_2024_1.16 © UCLES 2024 [Turn over 2 Exclusive Pottery (EP) EP is a private limited company set up 40 years ago in country Y. It manufactures pottery products including plates, cups and bowls. EP has a reputation for producing high-quality products. The Managing Director is considering the best way to increase the added value of EP’s products by either increasing prices or reducing raw material costs. Raw materials are currently purchased locally as imported raw materials are of a lower-quality. EP operates in a very competitive market. Many of EP’s competitors sell lower quality products at lower prices. There are many substitutes for pottery products, including products made from plastic or bamboo. Consumer spending patterns have been changing in country Y and this has affected EP’s sales. EP currently advertises its pottery in newspapers and magazines. EP does not have a website and only sells its products to retail shops in country Y. EP needs a new Marketing Manager and the Managing Director thinks EP should employ someone from outside the business. The new Marketing Manager will need to consider which of the following three ways EP could use to increase sales: • Advertising using social media • Emailing special offers to existing customers • Setting up a website The Managing Director wants to increase efficiency in the factory. She is considering either improving labour skills or introducing more automation and technology. Both methods will need additional finance. The Managing Director will consider different factors before choosing which source of finance to use. Appendix 1 Advertisement for EP We sell a wide range of plates, cups and bowls which are sold in all good retailers. EP’s products are all high quality and made using materials from local suppliers. © UCLES 2024 06_0450_21_2024_1.16 3 Appendix 2 Organisational chart for EP Managing Director Operations Director Marketing Director Finance Director Production Manager Marketing Manager Finance Manager Assistant Manager Assistant Manager Assistant Manager Production supervisors (10) Marketing employees (7) Finance employees (7) Production employees (50) Total employees = 84 © UCLES 2024 06_0450_21_2024_1.16 [Turn over 4 Appendix 3 Email from Managing Director to Operations Director To: Operations Director From: Managing Director Date: 5 March 2024 Re: Which product to stop making We need to keep our costs low and therefore I suggest we stop making either Product A or Product B. I have included some data in the table below to help us make the decision. Demand is forecast to increase in 2024 for both products. Total costs are expected to remain unchanged. Let me know which product you would choose to stop making and why. Financial information for Product A and Product B for 2023 Product A Product B Price per unit $10 $40 Sales volume 20 000 units 10 000 units Total cost $140 000 $350 000 Profit $60 000 $50 000 Gross profit margin 50% 62.5% Forecast increase in demand in 2024 10% 20% Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_21_2024_1.16 ™ Cambridge IGCSE *3921137726* BUSINESS STUDIES Paper 2 Case Study 0450/21 May/June 2024 1 hour 30 minutes You must answer on the question paper. You will need: Insert (enclosed) INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. • The insert contains the case study. This document has 12 pages. Any blank pages are indicated. 06_0450_21_2024_1.16 © UCLES 2024 [Turn over 2 1 (a) Explain two drawbacks for EP of having a tall organisational structure. Drawback 1: ...................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Drawback 2: ...................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_21_2024_1.16 [8] 3 (b) Consider the following two ways EP could use to increase added value. Which way should EP use? Justify your answer. • • Increasing prices Reducing raw material costs Increasing prices: ............................................................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reducing raw material costs: ........................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_21_2024_1.16 [Turn over 4 2 (a) Explain two advantages and two disadvantages of using external recruitment to find EP’s new manager. Advantage 1: .................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Advantage 2: .................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Disadvantage 1: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Disadvantage 2: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_21_2024_1.16 [8] 5 (b) Consider the following three ways EP could use to increase the sales of its products. Which would be the best way for EP to use? Justify your answer. • • • Advertising using social media Emailing special offers to existing customers Setting up a website Advertising using social media: ........................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Emailing special offers to existing customers: .................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Setting up a website: ........................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_21_2024_1.16 [Turn over 6 3 (a) Explain four reasons why consumer spending patterns for a product might change. Reason 1: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 3: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 4: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_21_2024_1.16 [8] 7 (b) Consider the following two ways EP could increase efficiency in its factory. Which would be the best way for EP to use? Justify your answer. • • Improving labour skills Introducing more automation and technology Improving labour skills: ..................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Introducing more automation and technology: ................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_21_2024_1.16 [Turn over 8 4 (a) Explain two factors EP should consider when choosing a source of finance. Factor 1: ........................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Factor 2: ........................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_21_2024_1.16 [8] 9 (b) Using Appendix 3 and other information, consider the following two products EP makes. Which product should EP stop making? Justify your answer. • Product A • Product B Product A: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Product B: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_21_2024_1.16 10 BLANK PAGE © UCLES 2024 06_0450_21_2024_1.16 11 BLANK PAGE © UCLES 2024 06_0450_21_2024_1.16 12 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_21_2024_1.16 ™ Cambridge IGCSE BUSINESS STUDIES 0450/22 Paper 2 Case Study May/June 2024 INSERT 1 hour 30 minutes *2430606254-I* INFORMATION • The insert contains the case study. • You may annotate this insert and use the blank spaces for planning. Do not write your answers on the insert. This document has 4 pages. Any blank pages are indicated. 06_0450_22_2024_1.10 © UCLES 2024 [Turn over 2 Jems Jewellery (JJ) JJ is a large manufacturer of jewellery such as bracelets, earrings and rings. JJ was set up 25 years ago in country X and is a public limited company. One of JJ’s objectives is for the business to expand and another objective is to increase profit each year. JJ manufactures all its jewellery in a factory in country X. All raw materials are purchased from local suppliers. JJ has 60 full-time and 25 part-time employees to make the jewellery. Most of these employees are skilled. JJ’s jewellery is beautiful but not expensive and therefore affordable for many people. The business has many competitors. JJ currently sells 70% of its products in country X through jewellery shops. The other 30% are sold using ecommerce and sold directly to customers in other countries. Demand for JJ’s jewellery is continuing to increase. JJ’s Marketing Manager is planning to launch a new item of jewellery in country X and needs to choose between two products. Information on these two products is shown in Appendix 1. They will also need to decide the most effective way to promote the new product in country X. Appendix 1 Information to calculate break-even for Product A and Product B Product A Product B Type of product Bracelet Ring Fixed cost for each product per week $50 000 $50 000 Selling price per product $50 $120 Variable cost per product $25 $40 Forecast sales per week 2500 750 Appendix 2 Newspaper article from Main City News in country X After several years of economic growth the government is predicting a change in the economy this year. Unemployment is forecast to increase from 3% to 6% by the end of the year. Increases in unemployment are expected to continue for the next two years. Many businesses will be affected by this increase. © UCLES 2024 06_0450_22_2024_1.10 3 Appendix 3 Email from Managing Director to Operations Director To: Operations Director From: Managing Director Date: 1 May 2024 Pressure groups have identified two environmental issues when we manufacture our jewellery. These two environmental issues are: • We use coal for fuel in our factory which we know contributes to global warming. Other jewellery manufacturers also use coal. We know the price of coal is increasing and will continue to increase in the future. However, the government in country X is encouraging businesses to invest in solar panels and is providing a 25% grant. • The gem stones used in our jewellery come from local mines. We have been told that the land around these mines cannot be returned to agricultural use after the mine is closed. However, pressure groups have told us that we can buy gems from suppliers that use alternative ways of mining which do not damage the environment. These mines are further away from our factory. We need to respond to these issues or our sales and profit may be affected. © UCLES 2024 06_0450_22_2024_1.10 4 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_22_2024_1.10 * 0019655497901 * , , ™ Cambridge IGCSE ¬Wz> 3mEsaqM¦6v5pW ¬8]Ak¦Wouª_1© ¥eEU5u 5U¥e¥ E eU *2430606254* 0450/22 BUSINESS STUDIES May/June 2024 Paper 2 Case Study 1 hour 30 minutes You must answer on the question paper. You will need: Insert (enclosed) INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. • The insert contains the case study. This document has 12 pages. Any blank pages are indicated. 06_0450_22_2024_1.10 © UCLES 2024 [Turn over * 0019655497902 * 1 DO NOT WRITE IN THIS MARGIN , 2 , (a) Explain two reasons why setting business objectives is important to JJ. Reason 1: ......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 2: ......................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [8] © UCLES 2024 ĬÕú¾Ġ³íÅóáñÍĦ·ø·î× Ĭ¸ĜÞÄßĕĄàĂăąėË³ÑċĂ ĥõÕÕõĕÅÕĥåõåąąĥĥµÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655497903 * , 3 , (b) Using Appendix 1 and other information, consider the two new products JJ could produce. Which product should JJ choose? Justify your answer using break-even calculations. • Product A • Product B Product A: ......................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... Product B: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 Ĭ×ú¾Ġ³íÅóáñÍĦ·ö·î× Ĭ¸ěÝÌéęôÙøîÄÃ³ħÑûĂ ĥõåĕµõåµõÕååąĥąååÕ 06_0450_22_2024_1.10 [Turn over , 2 4 , (a) Explain two benefits and two limitations for JJ of employing part-time workers in its factory. Benefit 1: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655497904 * ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN Benefit 2: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation 1: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation 2: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [8] © UCLES 2024 ĬÕú¾Ġ³íÅóáñÍĦµø·ð× Ĭ¸ěàÌãīõÞúõËġďÅÁăĂ ĥÅõĕõõåĕĕõÕåÅĥååµÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655497905 * , 5 , (b) Consider the advantages and disadvantages of the following three ways JJ could promote its new product in country X. Which way should JJ use? Justify your answer. • Advertising in fashion magazines • Handing out leaflets in Main City • Point-of-sale displays in shops DO NOT WRITE IN THIS MARGIN Advertising in fashion magazines: .................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Handing out leaflets in Main City: ..................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Point-of-sale displays in shops: ........................................................................................ DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 Ĭ×ú¾Ġ³íÅóáñÍĦµö·ð× Ĭ¸ĜßÄåħąÛĀČþµħđÁóĂ ĥÅąÕµĕÅõąąąåÅąÅĥåÕ 06_0450_22_2024_1.10 [Turn over * 0019655497906 * 3 DO NOT WRITE IN THIS MARGIN , 6 , (a) Explain four reasons why profit is important to a business. Reason 1: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN Reason 2: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 3: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Reason 4: ......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [8] © UCLES 2024 ĬÙú¾Ġ³íÅóáñÍĦ¸ö¶î× Ĭ¸ěß¿ßÿÿÓċù÷ÕďôĩăĂ ĥĕåÕµµÅÕÅĥååąąĥåõÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655498007 * , 7 , (b) Consider the opportunities and threats of ecommerce for JJ. Which is likely to have the most effect on JJ? Justify your answer. Opportunities: ................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Threats: ............................................................................................................................ ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Conclusion: ....................................................................................................................... DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 ĬÛù¿Ġ³íÅóáñÍĦ·ö¶î× Ĭ¸ěÝÄäðĩäĊąÄĞÏôÙûĂ ĥåąĕµĕĥµåĥąåÅÅĥĥÅÕ 06_0450_22_2024_1.10 [Turn over , 4 8 , (a) Using Appendix 2 and other information, explain two ways JJ may be affected by the forecast increase in unemployment in country X. Way 1: ............................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655498008 * DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Way 2: ............................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [8] © UCLES 2024 ĬÙù¿Ġ³íÅóáñÍĦµø¶ð× Ĭ¸ěàÄêþĠ×ĈþËÀóÒÉăĂ ĥĕÕĕõĕĥĕÅÅõåąÅÅĥÕÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN * 0019655498009 * , 9 , (b) Using Appendix 3 and other information, consider the following two environmental issues when JJ manufactures its products. Which issue should JJ choose to solve first? Justify your answer. • Using coal for fuel in its factory • Buying from suppliers that damage the environment DO NOT WRITE IN THIS MARGIN Using coal for fuel in its factory: ........................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... Buying from suppliers that damage the environment: ...................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Conclusion: ....................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... DO NOT WRITE IN THIS MARGIN ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 ĬÛù¿Ġ³íÅóáñÍĦµö¶ð× Ĭ¸ĜßÌàĂĐâòóþĜċĆÉóĂ ĥĕåÕµõąõÕµååąåååÅÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN , © UCLES 2024 , BLANK PAGE ĬÙù¿Ġ³íÅóáñÍĦ¸ø¸î× Ĭ¸ĚàÉìĆúÙÿąġäñ¶ñûĂ ĥÅµÕõĕÅĕĥõõĥąĥÅĥĥÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN 10 DO NOT WRITE IN THIS MARGIN * 0019655498010 * DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN * 0019655498011 * , © UCLES 2024 11 , BLANK PAGE ĬÛù¿Ġ³íÅóáñÍĦ¸ö¸î× Ĭ¸ęßÁÞĊĊàùüèøĉĢñċĂ ĥÅÅĕµõåõõąåĥąąååõÕ 06_0450_22_2024_1.10 , 12 , Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 ĬÙù¿Ġ³íÅóáñÍĦ¶ø¸ð× Ĭ¸ęÞÁèüÿÛ÷óßÖåÄġóĂ ĥõĕĕõõåÕĕåÕĥÅąąåĥÕ 06_0450_22_2024_1.10 DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN DO NOT WRITE IN THIS MARGIN BLANK PAGE DO NOT WRITE IN THIS MARGIN * 0019655498012 * ™ Cambridge IGCSE BUSINESS STUDIES 0450/23 Paper 2 Case Study May/June 2024 INSERT 1 hour 30 minutes *5981200222-I* INFORMATION • This insert contains the case study. • You may annotate this insert and use the blank spaces for planning. Do not write your answers on the insert. This document has 4 pages. Any blank pages are indicated. 06_0450_23_2024_1.14 © UCLES 2024 [Turn over 2 Recycled Furniture (RF) Santhosh is a skilled carpenter. He wants to be an entrepreneur and start up a small business called RF. Santhosh will repair and recycle furniture which people no longer want, such as tables and chairs. Santhosh will operate RF as a sole trader. Santhosh has produced a business plan which includes the business objectives and a forecast break-even chart for RF’s first month of trading. Santhosh has calculated he will need $5000 start-up capital for new tools, to rent a workshop and for promotional activities. Santhosh wants to sell the recycled furniture to RF’s target market of low-income families. It will be important to keep costs low so the furniture can be sold at a low price. Santhosh has already employed a Marketing Manager. He will also need to recruit 9 other employees; 3 skilled carpenters and 6 unskilled school leavers. Santhosh and the skilled carpenters will train the unskilled school leavers to repair and recycle the furniture. At the start of each day Santhosh will communicate with his employees to ensure they know their daily work tasks. Santhosh knows that having a well-motivated workforce will be important to RF. Appendix 1 Email from Santhosh to Marketing Manager To: Marketing Manager From: Santhosh Date: 31 March 2024 I know that we will need to spend some of my start-up capital on promotional activities to raise awareness of the new business and encourage customers to purchase the recycled furniture. I am considering the following two methods of promotion: • 10% discount on a customer’s first purchase of our recycled furniture • free delivery on all products purchased - transported directly to customers’ homes. We will need to consider the costs of these methods. © UCLES 2024 06_0450_23_2024_1.14 3 Appendix 2 Forecast break-even chart for RF’s first month of trading 200 180 160 140 120 costs and 100 revenue ($) 80 60 40 20 0 total revenue total costs fixed costs 0 5 10 forecast sales (units) 15 20 Appendix 3 Extract from Main News Country goes into a recession Recent economic data shows that the economy is now in a recession. Unemployment is likely to increase. However, businesses will find there is a difference in the availability of skilled and unskilled workers. The recession is also likely to have an effect on the level of sales for many businesses. © UCLES 2024 06_0450_23_2024_1.14 4 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_23_2024_1.14 ™ Cambridge IGCSE *5981200222* BUSINESS STUDIES Paper 2 Case Study 0450/23 May/June 2024 1 hour 30 minutes You must answer on the question paper. You will need: Insert (enclosed) INSTRUCTIONS • Answer all questions. • Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. • Write your name, centre number and candidate number in the boxes at the top of the page. • Write your answer to each question in the space provided. • Do not use an erasable pen or correction fluid. • Do not write on any bar codes. • You may use a calculator. INFORMATION • The total mark for this paper is 80. • The number of marks for each question or part question is shown in brackets [ ]. • The insert contains the case study. This document has 12 pages. Any blank pages are indicated. 06_0450_23_2024_1.14 © UCLES 2024 [Turn over 2 1 (a) Explain four characteristics of a successful entrepreneur. Characteristic 1: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Characteristic 2: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Characteristic 3: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Characteristic 4: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_23_2024_1.14 [8] 3 (b) Using Appendix 1 and other information, consider the advantages and disadvantages to RF of the following two methods of promotion. Which method should Santhosh use to attract customers to RF? Justify your answer. • • 10% discount on a customer’s first purchase Free delivery on all products purchased 10% discount on a customer’s first purchase: .................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Free delivery on all products purchased: ......................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_23_2024_1.14 [Turn over 4 2 (a) Explain two business objectives Santhosh might have for RF. Business objective 1: ........................................................................................................ ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Business objective 2: ........................................................................................................ ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_23_2024_1.14 [8] 5 (b) Consider the advantages and disadvantages of the following three sources of finance Santhosh could use when starting up RF. Which source should Santhosh use? Justify your answer. • • • Owner’s savings Microfinance Crowdfunding Owner’s savings: .............................................................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Microfinance: .................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Crowdfunding: .................................................................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_23_2024_1.14 [Turn over 6 3 (a) Using Appendix 2 and other information, explain two benefits and two limitations to Santhosh of using break-even analysis. Benefit 1: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Benefit 2: .......................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation 1: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Limitation 2: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_23_2024_1.14 [8] 7 (b) Using Appendix 3 and other information, consider how the recession might affect RF’s forecast sales and the availability of potential employees. Which is likely to have the most effect on RF? Justify your answer. RF’s forecast sales: .......................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Availability of potential employees for RF: ........................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Conclusion: ....................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_23_2024_1.14 [Turn over 8 4 (a) Explain two benefits to RF of having a well-motivated workforce. Benefit 1: .......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Benefit 2: .......................................................................................................................... ........................................................................................................................................... Explanation: ...................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... © UCLES 2024 06_0450_23_2024_1.14 [8] 9 (b) Consider the following three methods Santhosh could use to communicate the daily work tasks to his employees. Which method should he use? Justify your answer. • • • Telephone calls Face-to-face meetings Text messages Telephone calls: ................................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Face-to-face meetings: ..................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Text messages: ................................................................................................................. ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... Recommendation: ............................................................................................................ ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... ........................................................................................................................................... [12] © UCLES 2024 06_0450_23_2024_1.14 10 BLANK PAGE © UCLES 2024 06_0450_23_2024_1.14 11 BLANK PAGE © UCLES 2024 06_0450_23_2024_1.14 12 BLANK PAGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (UCLES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the Cambridge Assessment International Education Copyright Acknowledgements Booklet. This is produced for each series of examinations and is freely available to download at www.cambridgeinternational.org after the live examination series. Cambridge Assessment International Education is part of Cambridge Assessment. Cambridge Assessment is the brand name of the University of Cambridge Local Examinations Syndicate (UCLES), which is a department of the University of Cambridge. © UCLES 2024 06_0450_23_2024_1.14

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