CAIE A-Level Business AS 3.1.3 Markets Questions

Refer to Fig. 2.1. Calculate MXB's market share of the mountain bike market in country J.
$$\begin{aligned} & \text { Formula to calculate market share in words }=\frac{\text { Sales revenue for MBX }}{\text { Total sales revenue for the market }} \times 100(1) & \text { OR } \end{aligned}$$

Formula to calculate market share in numbers $=\frac{\$ 265(000)}{£ 1203(000)} \times 100(1)$

1 mark for calculating the sales revenue for the total market

Total sales revenue for the market =265+85+178+230+185+95+115+50

= $1 203 (000)

Market share $=(265 / 1203) \times 100$
= 22.028\% or 22.03\% or 22\%

2(b)(i)

Exemplar and annotations

Marks

Rationale

3 marks

Working and \% do not matter.

Must be three to denote the three marks.

Correct rounding must be applied.

2 marks

To award two marks, there must be

- Two and a

OR

Both of the following:
- Correct formula
- Correct calculation of total market sales revenue
(1203)
OR
An incorrect answer with one mistake allowing OFR
for final stage.
0.22 (has not completed final stage to multiply by 100)
A correct answer from an inverted formula (453.96-
OFR)
A correct answer with incorrect rounding (ie 22.02)

1 mark

One of the following:

To award one mark, there must be:

- Correct formula

- One and two

- Correct calculation of total market sales revenue (1203)

To award zero marks, there must be

- One