Exam (elaborations) Gmar7091

Response 1: Low-level response – 0 marks awarded A business person. Response 2: Mid-level response – 1 mark awarded A person who sets up a business to make money. Response 3: High-level response – 3 marks awarded A risk taker who sets up a business or businesses with the aim of making large amounts of profit. Assessment comment Response 1 The candidate has stated that an entrepreneur is a business person. This is not specific and does not demonstrate an understanding of the key term so no marks can be awarded. [0 marks] Response 2 The candidate has stated that the term involves a person setting up a business to make money. This is a basic response which does not explain in more detail to demonstrate the different skills/characteristics an entrepreneur often demonstrates within their work. [1 mark] Response 3 The candidate has correctly identified, using suitable terminology, a good definition of an entrepreneur. The use of the term ‘risk taker’ demonstrates knowledge that is relevant to the characteristics of an entrepreneur. [1 mark] They have also correctly identified that an entrepreneur sets up a business and often has the main aim of ‘making large amounts of profit’. Again, the candidate has used suitable terminology: instead of using the general term ‘money’, they have used ‘profit’ which is correct in this context. [2 marks]