Annex: quantitative skills in business
In order to be able to develop their skills, knowledge and understanding in business, students need to have acquired competence in the quantitative skills that are relevant to the subject content and which are applied in the context of a business A-level, including:
- calculate, use and understand ratios, averages and fractions
- calculate, use and understand percentages and percentage changes
- construct and interpret a range of standard graphical forms
- interpret index numbers
- calculate cost, revenue, profit and break-even
- calculate investment appraisal outcomes and interpret results
- interpret values of price and income elasticity of demand
- use and interpret quantitative and non-quantitative information in order to make decisions
- interpret, apply and analyse information in written, graphical and numerical forms.
Quantitative skills not in bold do not form part of the AS core content requirement; however, an exam board may include them in their AS specifications.
The assessment of quantitative skills will include at least level 2 mathematical skills as a minimum of 10% of the overall AS marks and as a minimum of 10% of the overall A-level marks.
These quantitative skills may be assessed across the assessment objectives.