Street markets continue to attract crowds of shoppers at a time when customer requirements and expectations are changing.

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2019). The mark or mark type is shown in brackets.

1. [2] Use of stalls/not permanent buildings; May operate on different days of week/variable hours; Goods sometimes not priced/labelled correctly; Use of bargaining/negotiate prices/low prices; Can sell seconds/low quality goods; Dependent on weather; Sell a limited range of goods/small quantity of goods; Operated by small scale retailers/sole traders/single owners; May be operated by local councils
2. [3] Yes - you can make personal contact with the seller (1) and haggle/bargain over prices (1) get a cheaper deal than you might in a shop (1) fresh produce can be sold (1) long opening hours (1); No - you may be sold defective/poor quality goods (1) which are difficult to return/lack of refund policy (1) the seller may not be at the market again (1) goods often sold without a warranty (1) may be sold unhygienic/unwashed goods (1) poor environment (1) can cause illness (1) lack variety of goods (1) lack range of payment methods (1) no credit given (1) usually no car parking (1) or fitting room (1)
3. [3] Market traders do not want to wait for payment (1) by offering credit (1) they have already paid for their stock (1); Cash helps the traders cash flow to pay for more stock (1) mostly low cost products anyway (1) no need to use other payment methods for larger amounts (1); Other payment methods can take longer / be more costly to process (1) e.g. taking a cheque (1) could lead to bad debts (1) if customers do not pay (1) uncertainty about creditworthiness (1); No electricity/network for electronic payment methods (1) to swipe cards / make transfers (1) do not want to pay for bank or credit card charges (1) cash is legal tender (1)
4. [8] Credit card: Often used for buying expensive goods. Relatively easy and quick to use although it may require authorisation. Busi will receive the computer game right away. It is safer to carry a credit card than cash. Free credit is usually available for at least a month because payment to the credit card provider is postponed. Credit cards are accepted by many retailers, although they may charge a transaction fee particularly for a low value purchase like a cheap computer game. There is interest to be paid if the amount owed to the credit card provider is not paid in full by the specified date. Some retailers may not accept certain types of credit card or may not have the facilities to accept electronic payment. Paying by credit card might encourage over-spending. If you do not report a stolen credit card, you may be responsible for the loss. The credit card might not work. Busi will have to pay off the outstanding balance owed.
5. [8] Cash: Cash is legal tender and is widely accepted. Cash requires no authorisation so it is convenient for Busi to pay for small amounts. The use of cash does not involve any transaction fees or extra charges. Cash is an easy-to-carry form of payment with no special hardware required to complete a transaction. There is no need for extra paperwork to be completed. The drawback of using cash is that if you lose it, it's gone. It can get relatively bulky and heavy. Busi would have to have enough cash with her to pay for the computer game. Cash does not provide any of the points/promotions offered by credit cards.
6. [8] Evaluation example: Because the game is cheap, Busi would be able to carry enough cash with her so she would probably use that for payment. However, there might be pick-pockets in a city so it might be safer to carry a credit card (carefully) than to have cash in her pocket or bag because that cash cannot be replaced but a credit card can be stopped if it's stolen.