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Cambridge IGCSE Business Studies practice

Paper 1 structured question: Production of goods and services

Try the question first, then check the answer and practise the same topic again.

Attempt questionProduction of goods and services revisionRevise the key idea

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Production of goods and services

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Paper 1Short Answer and Data Response3 marks

A retail business is evaluating its inventory management practices.

Description

Inventory Management Evaluation

The business currently holds large amounts of stock, which leads to high storage costs. They are considering just-in-time inventory management.

  1. a

    Explain the advantages of just-in-time inventory management.

    Aim for approximately 3 distinct marking points.

    [3]

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Paper 1 structured question: Production of goods and services

Paper 1Short Answer and Data Response1 marks

Description

Production Efficiency Improvement

The company has identified that its current production methods are leading to high levels of waste and increased costs. They are considering implementing lean production principles.

  1. a

    State one benefit of implementing lean production principles.

    Aim for approximately 1 distinct marking point.

    [1]