OCR GCSE ACTUAL EXAM PAPER 2026
QUESTIONS SOLUTIONS GRADED A+
●● Spotting an opportunity. Answer: Is the ability to see the need for a
particular product or service that customers need.
●● Enterprising characteristics. Answer: Are the features of an
entrepreneur, which include being determined, creative and having
ability to take risks.
●● Business plan. Answer: Is a simple plan which sets out details on the
product or service being sold, where the finance is to come from to start
the business, how the product is to be marketed and the market research
carried out.
●● Finance. Answer: Finance is needed to start a business - maybe a
loan or grant.
●● Success. Answer: For a business can take many forms, including
making a profit, surviving and providing a good service.
●● Resources. Answer: Are the things a business needs to make it work,
including land, labour, capital and enterprise.
, ●● Limited liability. Answer: Is where the responsibility for the debts of
a business is limited to the amount invested by a shareholder. They will
not be made to sell personal belongings to pay off business debt. A
feature of private and public limited companies.
●● Unlimited liability. Answer: Is where the responsibility for all the
debts of a business rests with the owners of the business. A feature of
sole traders and partnerships who may need to sell their own personal
belongings to pay off business debt.
●● Sole trader. Answer: Is a business owned by one person. They have
sole responsibility but benefit if the business is a success.
●● Partnership. Answer: Is a business owned by between two and 20
partners.
●● Private limited company. Answer: Is often (but not always) a smaller
business. Owned by at least two shareholders. Shares cannot be sold to
the general public. Has Ltd after its name.
●● Public limited company. Answer: Is a large business, where shares
can be sold to the general public enabling vast sums of money to be
raised to develop the company. Has plc after its name.
QUESTIONS SOLUTIONS GRADED A+
●● Spotting an opportunity. Answer: Is the ability to see the need for a
particular product or service that customers need.
●● Enterprising characteristics. Answer: Are the features of an
entrepreneur, which include being determined, creative and having
ability to take risks.
●● Business plan. Answer: Is a simple plan which sets out details on the
product or service being sold, where the finance is to come from to start
the business, how the product is to be marketed and the market research
carried out.
●● Finance. Answer: Finance is needed to start a business - maybe a
loan or grant.
●● Success. Answer: For a business can take many forms, including
making a profit, surviving and providing a good service.
●● Resources. Answer: Are the things a business needs to make it work,
including land, labour, capital and enterprise.
, ●● Limited liability. Answer: Is where the responsibility for the debts of
a business is limited to the amount invested by a shareholder. They will
not be made to sell personal belongings to pay off business debt. A
feature of private and public limited companies.
●● Unlimited liability. Answer: Is where the responsibility for all the
debts of a business rests with the owners of the business. A feature of
sole traders and partnerships who may need to sell their own personal
belongings to pay off business debt.
●● Sole trader. Answer: Is a business owned by one person. They have
sole responsibility but benefit if the business is a success.
●● Partnership. Answer: Is a business owned by between two and 20
partners.
●● Private limited company. Answer: Is often (but not always) a smaller
business. Owned by at least two shareholders. Shares cannot be sold to
the general public. Has Ltd after its name.
●● Public limited company. Answer: Is a large business, where shares
can be sold to the general public enabling vast sums of money to be
raised to develop the company. Has plc after its name.
