Section A Answer all questions.

Mark scheme

Marking points from the official mark scheme (Feb/Mar 2023). The mark or mark type is shown in brackets.

1. [2] Knowledge of the term that demonstrates a clear understanding of the term.
2. [1] Knowledge of the term that demonstrates a partial understanding of the term.
3. [2] Benefits lost / costs incurred when making a choice between options (clear definition)
4. [1] Choice of one option over another (partial definition)
5. [1] Knowledge of one relevant point is used to answer the question.
6. [1] Clear understanding of quality(ies) of a successful entrepreneur.
7. [1] Risk taker
8. [1] Creativity
9. [1] Innovation
10. [1] Commitment
11. [1] Self-motivated
12. [1] Multi-skilled
13. [1] Self-confidence
14. [1] Lead and manage
15. [1] Ability to bounce back
16. [2] Developed application of one relevant point to a business context: risk taker – prepared to take chances in business - uses own money to start the business.
17. [1] Limited application of one relevant point to a business context: innovation – identifies new ideas/products.