Business Studies HSC Exam 2017

[snowflakes]

My guess was letter of credit, as clean payment relies on trusting that the goods are going to be sent when the payment is made.
Letter of credit is a letter issued by the bank to serve as a guarantee that the goods and products are made to the customer.

What about bill of exchange?

[Opengangs]

What about bill of exchange?

Bill of exchange is a payment instrument that serves as an international trade activity where one party agrees to pay a fixed amount at a predetermined date. My guess for why this is not as strong as letter of credit is that the customer of the business has agreed to pay at a time that was agreed beforehand. So, what happens to delays with the shipping? The customer is still required to hand over the cash at that time, regardless of whether or not the goods has been delivered.

But, as long as you justify why bill of exchange can be used, you should still get those 6 marks.

[TheFreeMarketeer]

I used clean payment. I suppose so long as you don't try and justify one that is extremely dangerous to the importer, you can get marks for what you tried to reason out.

[spetsnaz]

I used clean payment. I suppose so long as you don't try and justify one that is extremely dangerous to the importer, you can get marks for what you tried to reason out.

Was just about to say this, clean payment, letter of credit and bill of exchange (if justified correctly) can all be awarded full marks, there isn't only one answer as people are saying which is only clean payment.

[snowflakes]

I reckon 86 raw

So does that mean everything below 86 gets scaled down really low? If so, what band?

[Mathew587]

I talked about the operation process i.e. inputs, outputs, transformation process (volume, variety, economies of scale, global web/sourcing) for q27(??) rather than influences. Do you guys think it'll will still work? I didn't realise that they were asking for influences rather than processes lol...
Also I talked about (stuffed this up really bad) advertising to improve sales and outsourcing to reduce costs for the strategies of financial management in the report. Do you guys think THIS will work??

fml should have studied way more. it's like the easiest subject I had...

[Ninjajnin]

So does that mean everything below 86 gets scaled down really low? If so, what band?

Ok so with scaling, well here are a few pointers from what I understand that hopefuly calrifies it a bit:

First 2 are done by NESA:
SO you get a mark on the exam (raw mark) and this mark determines (not really sure how- maybe the scaling that i will mention soon) but is probably not the "Examination Mark" written on your results
This is commonly thought of as 50% of the hsc mark.
1. The other 50% is your Assessment (internal mark) which is MODERATED based on your rank within your school and by how much those ranks differ (e.g. if number one is 90 and you are 89 and second then you will not be impacted too badly) and is also based on your examination mark.
2. There is another process called ALIGNING which compares cohorts. So if NESA think standards of responses are good, then everyone gets shifted up. This means accelerants will not be dogged if an exam is easier the next year, because getting a 95 in one year is made to be the same as a different year.

The last thing which is the actual SCALING is done by UAC
3. Scaling is done to compare different subjects. UAC looks at all the different subjects a student does that business kids do and sees how they perform in them. So if the students to bad in other subjects, business will scale down because this gives the impression that it is an easier subject. And obviously vise versa, so for 4U maths, students doing it ace everything else but get low mark in that, must mean it is hard, so it scales a crap tone UP. Scaling is done to the raw examination mark (I think).

Don't worry too much about these processes because at the end of the day it is out of contorl. But a higher external raw mark is critical to doing well overall and so is a good internal rank. When I say 86, that is my opinion for guaranteed band 6, but maybe 84? really depends

[charita.pin]

"14. (Industrial - first I thought Resource but you guys make great points. I am now erring on industrial side as most likely)"

For 14 it should be resources because the production of wheat occurs in the resource market. For instance, the creation of cars will be during the industrial stage but the purchasing of the metals will occur in the resource market. If purchasing wheat is regarded as part of the industrial market, what is the resource market for? Despite the fact of the wheat being processed, it is the process of adding value to a specific material which makes it part of an industrial market.

[snowflakes]

Ok so with scaling, well here are a few pointers from what I understand that hopefuly calrifies it a bit:

First 2 are done by NESA:
SO you get a mark on the exam (raw mark) and this mark determines (not really sure how- maybe the scaling that i will mention soon) but is probably not the "Examination Mark" written on your results
This is commonly thought of as 50% of the hsc mark.
1. The other 50% is your Assessment (internal mark) which is MODERATED based on your rank within your school and by how much those ranks differ (e.g. if number one is 90 and you are 89 and second then you will not be impacted too badly) and is also based on your examination mark.
2. There is another process called ALIGNING which compares cohorts. So if NESA think standards of responses are good, then everyone gets shifted up. This means accelerants will not be dogged if an exam is easier the next year, because getting a 95 in one year is made to be the same as a different year.

The last thing which is the actual SCALING is done by UAC
3. Scaling is done to compare different subjects. UAC looks at all the different subjects a student does that business kids do and sees how they perform in them. So if the students to bad in other subjects, business will scale down because this gives the impression that it is an easier subject. And obviously vise versa, so for 4U maths, students doing it ace everything else but get low mark in that, must mean it is hard, so it scales a crap tone UP. Scaling is done to the raw examination mark (I think).

Don't worry too much about these processes because at the end of the day it is out of contorl. But a higher external raw mark is critical to doing well overall and so is a good internal rank. When I say 86, that is my opinion for guaranteed band 6, but maybe 84? really depends

Cleared up! Thanks

[Mathew587]

"14. (Industrial - first I thought Resource but you guys make great points. I am now erring on industrial side as most likely)"

For 14 it should be resources because the production of wheat occurs in the resource market. For instance, the creation of cars will be during the industrial stage but the purchasing of the metals will occur in the resource market. If purchasing wheat is regarded as part of the industrial market, what is the resource market for? Despite the fact of the wheat being processed, it is the process of adding value to a specific material which makes it part of an industrial market.

Flour isn't in the resource market. That's wheat. Wheat is used to make flour which is used in the production process of making bread etc.

[bimberfairy]

Flour isn't in the resource market. That's wheat. Wheat is used to make flour which is used in the production process of making bread etc.

I agree with this statement. The flour's been processed already from the raw materials used to make it. So it's now in the industrial market. If you go back a few pages, we cleared it up earlier (:

[marcorabbitolol]

My guess was letter of credit, as clean payment relies on trusting that the goods are going to be sent when the payment is made.
Letter of credit is a letter issued by the bank to serve as a guarantee that the goods and products are made to the customer.

yesss i completely guessed this one- but i said credit note- is it the same thing as letter of credit?

[Rainbowhippocampus]

Question, if I accidentally specified a bill of exchange and actually described a letter of credit and how it reduces risk for the business, will I still get at least half the marks, possibly more, for the question?  I initially had letter of credit and then drew a line through it thinking it was bill of exchange...

[Hangm3]

Question, if I accidentally specified a bill of exchange and actually described a letter of credit and how it reduces risk for the business, will I still get at least half the marks, possibly more, for the question?  I initially had letter of credit and then drew a line through it thinking it was bill of exchange...

Yeh I did the same. Hoping for 3/5 since the understanding of the question is still there.

[nedrich23]

Am I stuffed if I did payment in advance for the international payment question?