Business Studies Revision sheets
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IGCSE EdexcelRevision worksheets IGCSE Business Studies Revision sheets (For year 10 & Year 11) By Saadia Noureen Teacher – Business Studies IGCSE EdexcelRevision worksheets Chapter 1 & 2: Q1: Business activities have a lot of stakeholders involved in it. Define stakeholders. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Define shareholders. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: Write down the business stakeholders in the boxes. IGCSE EdexcelRevision worksheets Q3: What is meant by business objective? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q4: What objectives are set by private sector organization? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q5: How private businesses objectives are different from public sector businesses? IGCSE EdexcelRevision worksheets ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Chapter 3 & 4: Q1: Limited companies are large businesses. Explain two features of Limited companies. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Explain two differences of limited companies and private limited companies. Difference1:____________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Difference2:____________________________________________________________ IGCSE EdexcelRevision worksheets ______________________________________________________________________ _____________________________________________________________________ Q2: Public limited companies have to produce a Memorandum of Association. What information would this document contain? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ Q3: Outline why going public is expensive? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q4: Discuss three advantages and three disadvantages of a business as a sole trader. Advantages Disadvantages Q5: Define entrepreneur. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets Q6: Discuss the role played by entrepreneurs in business. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ Q 7: Define the following terms: Franchise______________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Franchisee_____________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Franchisor_____________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q8: What are the benefits of franchise to a franchisor? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ Q9: What are the benefits of franchise to a franchisee? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ IGCSE EdexcelRevision worksheets 10: Outline why going public is expensive? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q11: Explain three ways in which Limited company differ from sole trader. Difference1:____________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Difference2:____________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ********* Chapter 5: Q1: Define globalization. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: Write down key features of globalization. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets Q3: What is meant by Multinational Companies? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q4: List down a advantages and disadvantages of MNCs (Multinational Companies). Advantages Disadvantages Chapter 6 & 7: Q1: What is meant by production? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: List down the four factors of production and state an example with each. 1.____________________________________________________________________ _____________________________________________________________________ IGCSE EdexcelRevision worksheets 2.____________________________________________________________________ _____________________________________________________________________ 3.____________________________________________________________________ _____________________________________________________________________ 4.____________________________________________________________________ _____________________________________________________________________ Q3: Define the terms: Labour intensive: ______________________________________________________________________ ______________________________________________________________________ Capital intensive: ______________________________________________________________________ ______________________________________________________________________ Q4: Identify two benefits and drawbacks of division of labour. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q5: what is meant by “division of Labour”? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 8: Q1: Business activity is classified into three sectors. Define them and give examples. Primary sector ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Secondary sector IGCSE EdexcelRevision worksheets ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Tertiary sector ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ******** Chapter 9: Q1: List down the factors affecting the business location? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ Q2: Business location decisions are influenced by changing environment. Discuss these factors. IGCSE EdexcelRevision worksheets ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ _____________________________________________________________________ Q3: What factors are considered to choose business location? ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ Chapter 10: Q1: IGCSE EdexcelRevision worksheets how does the government influence business activity? Q 2: define the following terms: Consumer legislation: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Economic policy ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Regional policy ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Health and safely employment legislation ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Environmental legislation ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ IGCSE EdexcelRevision worksheets Competition policy ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Protectionism ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ *********** Chapter 11: Q 1: Match the definition to the related term: IGCSE EdexcelRevision worksheets Inflation Money paid to the government. Tariff Also called a Negative Externality. Taxation The lowest point in the Economic Cycle. External Cost Groups of workers who come together to protect their interests. Slump Makes exports cheaper. Trade Union Gross Domestic Product. Exchange Rate Depreciation People who are willing to work, but cannot find a job. G.D.P. This is lower in Asia, than it is in Europe. Unemployment Another word for Recovery. Minimum Wage The cost of borrowing, or reward for saving. Growth Greenpeace is an example of a… Interest Rates Uses Factors of Production in more than one country. Pressure Group Using Taxation and Government Spending to control GDP. The price of one currency, in terms of another. Multi-National Company A period of high GDP growth, and probable inflation. Boom Exchange Rate A period of falling GDP. Employment Law Minimum wage, working hours and antidiscrimination are areas of… Using Interest Rates to control GDP. Recession A limit on the number of imports. Monetary Policy Quota Makes exports more expensive. Competition Exchange Rate Appreciation A tax on imports. Ethics Fiscal Policy Chapter 12: Q1: WEAK or STRONG??? Lots of this, could make your product more Price Elastic. Judgements about what is morally right or wrong. A rise in prices. IGCSE EdexcelRevision worksheets Exchange rate £1 = $1.1 £1 = 0.97EURO £1 = 95Yen £1 = $2.6 $1 = £2 1EURO = £0.68 85Yen = £1 IMPORT OR EXPORT? Q 2: Define protectionism. weak / strong £ IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Write down the definition of the following methods of protectionism: Tariffs _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Quotas _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Subsidies _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Administrative barriers _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Depreciating exchange rate _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Chapter 13: Activity sheet- Recycling, holiday abroad and the environment IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Chapter 14: IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Chapter 15: IGCSE EdexcelRevision worksheets Q1: Q 2: Chapter 16: IGCSE EdexcelRevision worksheets Q1: What are businesses divided into different departments? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: Explain the functions production department. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q3: list down the activities of the following departments: Marketing department: _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ Finance department: ________________________________ ________________________________ ________________________________ ________________________________ ________________________________ Human resources (HR) department: IGCSE EdexcelRevision worksheets _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ Chapter 17: IGCSE EdexcelRevision worksheets Q 1: ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q 2: IGCSE EdexcelRevision worksheets Chapter 18: IGCSE EdexcelRevision worksheets Q 1: Answer the following questions giving reasons to justify your answer a. Your class has participated in a collaborative project with a school in USA. Give any two methods that you would use for communication with that school. Method : ___________________________________________________________________ Reason : ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ b. A company’s CEO has scheduled a video conference with the board of directors. The technical team has arranged a monitor, microphone, speaker, video camera. What is the additional hardware required? Hardware: __________________________________________________________________ Reason : ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ Chapter 19: IGCSE EdexcelRevision worksheets Q1: Discuss two benefits of external recruitment. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: Discuss two benefits of internal recruitment. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q3: Define Job Description. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Chapter 20: IGCSE EdexcelRevision worksheets Q 1: define employment protection. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q 2: what is written in a contract of employment? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q 3: health and safety legislation forces businesses to provide: ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ******* Chapter 21: IGCSE EdexcelRevision worksheets Q1: What is the purpose of induction training? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: What might new recruits learn during the induction training? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q3: Define ‘On-the-job’ training. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q4: Discuss the different approaches of ‘on-the-job’ used by a business. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q5: Define ‘off-the-job’ training. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q6: Discuss three advantages of ‘On-the-job’ training and three advantages of ‘off-thejob’ training. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets ______________________________________________________________________ _____________________________________________________________________ Q7: List down the reasons for training. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 22: Q1: What is meant by motivation? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: What are the benefits of well-motivated employees? _________________________ _________________________ _________________________ _________________________ _________________________ _________________________ Q3: draw the Maslow’s hierarchy of needs. IGCSE EdexcelRevision worksheets Q4: Show ‘Motivators’ and ‘Hygiene’ factors of Herzberg two-factor theory in the table below: Motivators Hygiene factors IGCSE EdexcelRevision worksheets Chapter 24: Q 1: What is meant by fringe benefits? Also draw the diagram showing different fringe benefits. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Q2: Outline two possible advantages of fringe benefits to businesses. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 25-26 IGCSE EdexcelRevision worksheets Chapter 29 IGCSE EdexcelRevision worksheets Chapter 30 Following table about BatCraft Pty manufacturer shows some cost information. Read the questions carefully and answer them using the information in the case study. (a) Using examples from the case study state what is meant by fixed cost. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ (b) Calculate fixed cost of BatCraft Pty. ______________________________________________________________________________ ______________________________________________________________________________ (c) Calculate variable cost per bat of BatCraft Pty. ______________________________________________________________________________ ______________________________________________________________________________ (d) Calculate variable cost if 4800 bats are produced. Variable cost = --------------------------- × ------------------------* (hint: Variable cost = variable cost per bat × production) (e) Calculate total cost of producing 4800 bats. Fixed cost = Variable cost = --------------------------- × ------------------------(hint: Variable cost = variable cost per bat × production) Total cost = Fixed cost + variable cost ----------- = ---------------- + -------------------- IGCSE EdexcelRevision worksheets Chapter 31 i. How many boxes need to break even? _________________________________________________________________________ ii. What is total revenue at the break-even point? __________________________________________________________________________ __________________________________________________________________________ iii. If 500 boxes are produced, what is the Amount of profit _________________________________________________________________________ _________________________________________________________________________ Margin of safety _________________________________________________________________________ _________________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 32 _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 33 Tariq Khan runs a small construction company. He specializes in the construction of conservatories, property extensions and loft conversions. He employs six other people and has enjoyed a profitable run since setting up in business in 2002. Figure below shows an incomplete balance sheet for his business at 31 July 2009. (a) Calculate the value of (i) stocks; (ii) overdraft; (iii) net assets (b) Using this case study as an example, outline the difference between fixed assets and current assets. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 34 Write the reasons of interests of different stakeholders: stakeholders Managers Employees Owners Shareholders Bankers Suppliers Investors and financial analysts Government Competitors The media Tax authorities Auditors Registrar of companies Reason of interest in the business’ accounts IGCSE EdexcelRevision worksheets Chapter 35 _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 36 _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________________ IGCSE EdexcelRevision worksheets Chapter 37 NIVEA Sun---Segmentation-Case study NIVEA identifies market segments that meet individual consumer needs. Segmentation occurs when a market is split into sub-markets (segments) which can respond in similar ways to different marketing activities. Each segment: contains consumers with similar needs or tastes is best satisfied by products targeted to meet their specific needs. The three main product segments The diagram above shows the three main product segments that make up the NIVEA Sun range. As you will see, there are a variety of products in each, which can also be segmented as shown. 1. Protection It is vital that skin is adequately protected against the sun”s harmful effects (although no sunscreen can provide total protection). NIVEA Sun provides products that enable people to be as safe as possible. NIVEA Sun also encourages the use of other forms of protection (e.g. wearing a sun hat and avoiding midday sun). Protection is the largest segment in the sun care market with a purchase penetration of 28%. NIVEA Sun is the protection segment market leader by value (i.e. more money is spent on NIVEA Sun protection products than any other sun care brand in the UK). When choosing sunscreens there are two important factors to consider: i. skin type The chart below shows segmentation by skin type. The level of protection required for each segment will vary according to generalized skin types (as seen below): IGCSE EdexcelRevision worksheets Skin type applies to children, as well as adults. Children’s skin is thinner and its repair mechanism is not yet fully developed. As a result they require extra protection and sun screens that are specifically developed for their skin. ii. Location NIVEA Sun provides a range of lotions and sprays targeted at different climates and to users with different skin types. Someone with fair skin may be well protected with a SPF 20 product when in England, but if they were in Barbados they would need SPF 40. 2. After Sun NIVEA Sun is the market leader within this segment in the UK, which has been growing rapidly. 3. Self-tan In contrast to protection and after sun, the self-tan category is concerned mostly with cosmetic appeal. Many adults use self-tan to have an all year round sun kissed glow. Market segments are: Organisations use market segmentation because: NIVEA Sun IGCSE EdexcelRevision worksheets One way that Nivea sun segments its market is through user ‘attitudes’ – see Sun Range in the case study, suggest a product (including the SPF) that will be suitable for each of the attitudinal segments below: Segment Product Concerned consumers Sun avoiders Conscientious sun lovers Careless tanners Naïve beauty conscious Chapter 39 Define pricing strategies. _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Fill in the table given below: Strategy Cost plus Competition Penetration Skimming Definition Advantages disadvantages IGCSE EdexcelRevision worksheets promotional Chapter 42 Product (a) What is the main role of packaging ofr the products shown in the image? __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ ________________________________ Business might need t o change their packaging when selling goods abroad. (b) Suggest reasons for doing this. _____________________________________________________________________________________ _____________________________________________________________________________________ IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _____________________________________________________________________________________ __________________________________________________________________________ Chapter 43 1. Using the following words completed the gap Primary Research New Information Expensive Relevant Questionnaire 6 Marks Secondary research Field research is also known as ____________________. It is useful finding out _______________a popular method is to use a questionnaire __________________. A benefit of using field research is that the information collected is directly _______________________ to the needs of the business. A disadvantage is that the information can be very ____________________ to collect. Desk research is also known as ________________________ 2. List the advantages and disadvantages of primary research. Advantages Disadvantages 6 Marks IGCSE EdexcelRevision worksheets 3. List the advantages and disadvantages of secondary research. Advantages 6 Marks Disadvantages 4. Explain the difference between an qualitative and quantitative data. 4 Marks IGCSE EdexcelRevision worksheets Extension: 5. List the methods of primary research. 6. List the sources of secondary research. 6 Marks 6 Marks IGCSE EdexcelRevision worksheets Chapter 43 1. Give three examples of economies of scale that a supermarket might gain as it expands and opens new stores _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ ___________________________________________ 2. Explain two possible diseconomies of scale for the supermarket as it expands _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ ___________________________________________ IGCSE EdexcelRevision worksheets Chapter 45 Job Definition: One-off, specialised production. Tailor made, meets specific customer requirements. Usually ‘labour intensive’ (relies heavily on skilled workers). Batch Definition: Made in batches (different shapes, colours, sizes, etc. OR Made in stages (doors, bonnets, and engines) and then assd. Flow Definition: Continuous production. Usually mass production & ‘capital intensive’ (relies heavily on mchines). Advantages Can sell the product for a premium price. Worker satisfaction is high, therefore less problems with motivation, absenteeism & labour turnover. The goods have already been ordered (and possibly paid for), so they have already been sold (improving cash flow). Workers can be put where they have the best skills e.g. best at making doors or bonnets. Production levels of different products can be altered to meet demand. Productivity is high and therefore, unit costs are low. Workers can be paid low wages because they arekilled. Disadvantages Requires highly skilled workers which can be expensive (high wages and high training costs). Lots of storage space needed for various parts. There will be ‘downtime’ whilst Boredom for workers can lead to mistakes, absenteeism, high labour turnover, and general de- IGCSE EdexcelRevision worksheets Specialist equipment might be needed for one job, but not the next. Production is slow, so customers need to be willing to wait longer. the machines are being changed from making one product to another. motivation. High cost of machinery in the short ter Chapter 46 (a) Calculate the labour productivity in each of the four factories. _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ IGCSE EdexcelRevision worksheets _____________________________________________________________ _______________________________________________ (b) Which factor is Hurber likely to close down? _____________________________________________________________ _____________________________________________________________ _______________________________________________________ Chapter 47 _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _________________________________________________________________________ Chapter 48 _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________ IGCSE EdexcelRevision worksheets _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ ____________________________________________________________________________
