Competitive environment exam tips

Exam tips

• Competition and markets exam tip 1

  Use precise subject-specific vocabulary when you explain how to explain the meaning of a market and competition..

  This keeps your answer tightly aligned to the exam specification point for Competition and markets.

• Competition and markets exam tip 1

  Use precise subject-specific vocabulary when you explain how to analyse potential impacts of competition on businesses..

  This keeps your answer tightly aligned to the exam specification point for Competition and markets.

• Competition and markets exam tip 1

  Use precise subject-specific vocabulary when you explain how to identify situations where businesses face minimal or no competition..

  This keeps your answer tightly aligned to the exam specification point for Competition and markets.

• Uncertainty and risk exam tip 1

  Use precise subject-specific vocabulary when you explain how to explain risks businesses face and why all businesses face uncertainty..

  This keeps your answer tightly aligned to the exam specification point for Uncertainty and risk.

• Uncertainty and risk exam tip 1

  Use precise subject-specific vocabulary when you explain how to explain why entrepreneurs embark on running businesses despite risk..

  This keeps your answer tightly aligned to the exam specification point for Uncertainty and risk.

• Uncertainty and risk exam tip 1

  Use precise subject-specific vocabulary when you explain how to explain activities businesses can use to minimise risks..

  This keeps your answer tightly aligned to the exam specification point for Uncertainty and risk.