1. Edexcel IGCSE Commerce Paper 1 (2023): 3 sections (A, B, C), 80 marks total, focus on commercial operations, associated risks, insurance, international trade, marketing strategy, and financial awareness.
2. Section A: sectors of production, uninsurable risks, indemnity, foreign exchange conversion (KRW to GBP), multinational benefits, insurance types (e.g. employer’s liability), buying domestically vs. importing, specialisation.
3. Section B: case study on Happy Fresh (Malaysia), branding, electronic payment systems, principles of insurance (utmost good faith, consequential loss), balance of trade calculations, loyalty vs. discount strategy for customer acquisition.
4. Risk management: mitigation of bad debts, claim justification for damaged/lost goods, use of actuarial services, business continuity through insurance.
5. Section C: Wilmar International (Singapore-based food company), ASEAN trade bloc benefits, energy reduction in operations, environmental cost cutting, operational efficiency analysis.
6. Core concepts: exchange rate impact, financial calculation (percent decrease, discounting), trade protectionism (quota), marketing incentives, insurance policies, regional trade integration, e-commerce growth.