The Cambridge IGCSE Business Studies (0450) May/June 2026 papers and mark schemes are out, and they’re free. Paper 1 (0450/12), Paper 2 (0450/22) and the Paper 2 case study insert can be downloaded and printed on the Tutopiya Learning Portal. Below is a breakdown of what each paper tested and how the mark scheme gave marks, taken from the papers themselves.

Key points from the 2026 0450 papers

• Operations came up on both papers. Flow production and quality on Paper 1, then factory location, lean production and training on Paper 2.
• Finance meant real calculations. A current ratio on Paper 1 and break-even, margin of safety and profit for two products on Paper 2.
• Every Paper 1 question ended with a 6-mark judgement, and three of the four were “which is most important?” questions.
• Paper 2 was four big decisions. Each 12-mark part (b) gave you two or three options from the case and asked which KE should choose.
• Application decides the 4- and 6-mark answers. On Paper 1 the scheme lists the words from each stem that count as context, and generic answers lose those marks.

All May/June 2026 0450 papers

Paper	Code	Duration	Marks	What it tests
Paper 1 Short Answer and Data Response	0450/12	1 hour 30 minutes	80	Four 20-mark questions, each on a different short business scenario
Paper 2 Case Study	0450/22	1 hour 30 minutes	80	Four 20-mark questions on one case study in a separate insert

Timings and marks are taken from the front cover of each 2026 paper. Each paper comes with its official Cambridge mark scheme. For the full list of syllabus content, see the Cambridge IGCSE Business Studies 0450 syllabus.

Which variant is this? Cambridge sets different versions of each paper (variants) for different time zones. The papers here are variant 2: 0450/12 and 0450/22. All variants cover the same syllabus at the same difficulty, so variant 2 is just as good for practice as the one your school sat.

Download the 0450 May/June 2026 papers →

What came up in 0450 Paper 2 (Case Study), May/June 2026?

The case: KE (Kitchen Equipment) is a public limited company with 10 000 employees that makes low-priced cooking pots for a very competitive home market. Its only factory is at full capacity, so it plans a second factory, lean production and a new cooking pot. The insert gives data on two factory locations, an email about becoming more ethical, and costs and forecast sales for two possible products.

Paper 2 had four questions worth 80 marks. Each had an 8-mark part (a) and a 12-mark part (b).

Question	Topic	Marks
1(a)	Four ways to measure the size of KE	8
1(b)	Choose a primary research method for the new product: interviews, focus groups or questionnaires	12
2(a)	Four roles of packaging for a product	8
2(b)	Choose between location A and location B for the second factory (land cost, unemployment, distance to market and suppliers, power cuts)	12
3(a)	Two advantages to KE of introducing lean production	8
3(b)	Choose between product A and product B, justified with calculations	12
4(a)	Two reasons why training employees is important to KE	8
4(b)	Choose the better way to become ethical: ethical suppliers or fair wages	12

What made it hard: Question 3(b) needed your own numbers. Product A had a lower price but much higher forecast sales. Worked through, it gave a contribution of $1.50, break-even at 20 000 pots and $30 000 profit a month. Product B gave $3 contribution, break-even at 10 000 and $15 000 profit. You could argue for either, but only if you calculated first. Question 1(b) was also the only decision with three options to weigh.

What came up in 0450 Paper 1 (Short Answer and Data Response)?

Paper 1 had four questions worth 20 marks each. Every question followed the same pattern: 2, 2, 4, 6 and 6 marks.

Question	Business	Topics	Marks
1	APL, a mobile phone plc with 20 000 employees	Define bonus, reasons people work, advantages of external recruitment, two leadership styles, whether a plc’s advantages always outweigh its disadvantages	20
2	Amina, an entrepreneur selling pens and paper online	Define entrepreneur and ecommerce, using market research results, two advertising methods, why businesses remain small	20
3	BTV, a car maker with 16 factories	Current ratio from a data table, external users of accounts, four reasons quality matters, disadvantages of flow production, why profit matters	20
4	BRK, a copper mining multinational in 15 countries	Define primary sector, two economies of scale, how pressure groups influence decisions, advantages of being an MNC, external benefits a business creates	20

Watch for: the data table in Question 3 included non-current assets, non-current liabilities and profit, but the current ratio needed only current assets ($90m) and current liabilities ($120m). The answer was 0.75 : 1, which is below 1.

How the 0450 May/June 2026 mark scheme gives marks

The two papers are marked in very different ways. Knowing both styles is often worth more marks than extra revision.

1. Paper 2 part (b) uses three levels. Level 1 (1–4 marks) is limited discussion with a simple judgement. Level 2 (5–8) is detailed discussion of at least one option, applied to KE, with some justification. Level 3 (9–12) needs detailed discussion of every option in context and a well-justified recommendation. The difference between the top of Level 2 and Level 3 is the decision. In Question 2(b), the top marks went to answers that explained why the chosen location suited KE and why the other one was less suitable.

2. Calculations were a Level 3 requirement in Question 3(b). The scheme says a Level 3 answer needs a Level 2 point (a correct, labelled figure such as break-even or profit) for both products, plus a decision that shows you understand what the figures mean. Comparing figures without explaining them stayed in Level 2. Label every figure: “profit per month” or “margin of safety”, not just a number.

3. Paper 2 part (a) has a fixed mark pattern. In Question 1(a), each way of measuring size was worth 1 mark, plus 1 more only if you applied it to KE (for example, its 10 000 employees). Questions 3(a) and 4(a) gave 1 mark per advantage or reason and up to 3 more for developing it, one of which had to be in context. Question 2(a) on packaging had no application marks at all. Number of factories, profit and share value were not accepted as measures of size.

4. Paper 1 tags every mark. The scheme labels points as knowledge [k], application [app], analysis [an] or evaluation [eval]. A 4-mark “outline” question such as 1(c) gave 2 [k] and 2 [app]. A 6-mark “explain” question such as 3(d) gave 2 [k], 2 [app] and 2 [an]. For 1(d), the [k] mark needed the style’s name (autocratic, democratic, laissez-faire), not a description of it.

5. Context must make sense, not just appear. For each Paper 1 question the scheme lists words from the stem that count as application, such as “cars”, “16 factories” or “copper”. It also says the reference must fit the point being made. Dropping “mobile phones” into a sentence that has nothing to do with phones won’t score.

6. The last 6-mark parts are generic and need a two-sided decision. Questions 1(e), 2(e), 3(e) and 4(e) gave 2 [k], 2 [an] and 2 [eval], with no application marks. To reach the evaluation marks in 1(e), you had to discuss at least one advantage and one disadvantage of being a plc. In 2(e) and 4(e) you needed two valid reasons or benefits before you could judge which mattered most.

7. Only the first answers count on list questions. For 1(b), 3(b) and 4(b) only the first two responses were marked, and for 3(c) only the first four. Repeating a point in reverse (a “mirror statement”) earns nothing extra.

8. Definitions and named terms are precise. In 1(a), “extra pay” alone earned 1 mark. The second mark needed the idea that a bonus rewards good performance. In 4(b), the scheme accepted named economies of scale such as purchasing, marketing, financial, managerial and technical, but not “bulk buying” or “technological”. In 3(a), the correct current ratio with no working still scored 2 marks, but 0.8 scored only 1.

Which papers should you sit?

There are no Core and Extended tiers in 0450. Every candidate sits both Paper 1 and Paper 2, and both papers say to answer all questions. There are no optional questions to choose between.

How to use the 2026 papers as a mock

1. Keep them for last. Use older 0450 papers for topic practice and save May/June 2026 for a full mock two to four weeks before your exam.
2. Sit each paper timed. You have 1 hour 30 minutes for 80 marks on each paper, about a minute a mark. For Paper 2, read the insert first and mark up the appendices.
3. Mark strictly with the mark scheme. On Paper 1, check each answer against the [k], [app] and [an] tags. On Paper 2 part (b), decide your level first, then the mark within it.
4. Redo the Question 3(b) calculations. Work out contribution, break-even, margin of safety and profit for both products, then check them against the scheme.
5. Rewrite one 12-mark answer. Add a final paragraph that says why you rejected the other option. That sentence is what moves an answer into Level 3.

More IGCSE Business Studies resources

• Cambridge IGCSE Business 0450 past papers guide
• IGCSE Business Studies past papers (Cambridge and Edexcel)
• IGCSE past papers 2026: all subjects

🔍 Looking for a specific past paper? Use our free Past Paper Finder to search by subject, year and exam board.

Need help with a 0450 topic? Book a free trial lesson with an IGCSE Business Studies tutor →

Frequently asked questions

Are the 0450 May/June 2026 past papers free? +

Yes. Both question papers (0450/12 and 0450/22), the Paper 2 case study insert and the official mark schemes are free to download and print on the Tutopiya Learning Portal.

What came up in the 0450 Paper 2 case study in May/June 2026? +

The case was KE, a public limited company making low-priced cooking pots. You had to explain ways to measure its size, roles of packaging, lean production and training, then make four 12-mark decisions: a market research method, a factory location, a choice between two new products using calculations, and the best way to become an ethical business.

What topics came up in 0450 Paper 1 May/June 2026? +

Paper 1 had four 20-mark questions: a mobile phone company (bonuses, recruitment, leadership styles, public limited companies), a stationery start-up (entrepreneurs, ecommerce, market research, advertising), a car maker (current ratio, quality, flow production, profit) and a copper mining multinational (pressure groups, MNCs, external benefits).

How is 0450 Paper 2 marked? +

The 8-mark part (a) questions are points-based. The 12-mark part (b) questions use three levels: 1 to 4, 5 to 8 and 9 to 12. To reach the top level you must discuss every option in context and give a well-justified decision that explains why you rejected the other option.

Why can't I find 0450/21 or 0450/23 for 2026? +

Only variant 2 of the May/June 2026 papers is on the portal at the moment. Cambridge sets different variants for different time zones; variants 1 and 3 test the same syllabus in the same format, so variant 2 prepares you just as well.

When will the October/November 2026 0450 papers be available? +

Cambridge usually releases the October/November papers in the new year. We add them to the Learning Portal once they are published.

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