Assessment and feedback are essential parts of effective teaching in higher education and are monitored via several tools and surveys. The annual student satisfaction survey in UK higher education is among the most popular and formal ones. It collects student feedback in order to assist institutions identify their weaknesses and improve their teaching effectiveness. Various researchers have used survey data to infer useful insights, but mostly at a high level. This study focuses on assessment and feedback as predictors for overall student satisfaction. We utilize regression analysis, and limit the scope at business and economics topics. Following the analysis, it can be concluded that there is evidence to support that assessment and feedback can be used as predictors for overall student satisfaction in business and economics. The significance of the study lies in the fact that universities consider assessment and feedback as of key importance and is thus critical to gain a better understanding on whether those factors can be safely used as predictors of overall student satisfaction. The results indicate that improved quality in marking and feedback can have a positive effect in student satisfaction. A more comprehensive study on the student satisfaction survey can unfold additional dimensions and shed light on how students perceive marking, assessment and feedback in higher education in general.