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Economic Systems and Business Operations · CSEC Economics

21 past-paper questions on Economic Systems and Business Operations, part of Section 2: Production, Economic Resources and Resource Allocation, from every CSEC Economics paper on Quelpr.

Practise Economic Systems and Business Operations
  1. 7(a)2 marks· CSEC Economics · May/June 2007 · Paper 2List the TWO means by which resources are allocated in an economy.
  2. 1(b)3 marks· CSEC Economics · May/June 2008 · Paper 2List the THREE resource allocation decisions.
  3. 1(d)6 marks· CSEC Economics · May/June 2008 · Paper 2Discuss THREE benefits that may be derived from a free market economy.
  4. 1(b)3 marks· CSEC Economics · May/June 2009 · Paper 2List THREE factors that firms must consider when determining what goods or services to produce.
  5. 2(c)4 marks· CSEC Economics · May/June 2009 · Paper 2Explain how the 'market' and the 'government' differ in resource allocation in your country.
  6. 2(d)6 marks· CSEC Economics · May/June 2009 · Paper 2Outline THREE merits of the market system in allocating resources in Caribbean economies.
  7. 2(c)6 marks· CSEC Economics · May/June 2010 · Paper 2Discuss TWO reasons why a centrally-planned economy tends to be LESS efficient than a market-based economy.
  8. 6(d)5 marks· CSEC Economics · May/June 2010 · Paper 2Discuss TWO economic factors that may encourage a producer of bread to remain in bread production.
  9. 1(a)2 marks· CSEC Economics · May/June 2011 · Paper 2Define the term 'sole trader'.
  10. 1(b)3 marks· CSEC Economics · May/June 2011 · Paper 2List THREE advantages of being a sole trader.
  11. 1(d)4 marks· CSEC Economics · May/June 2011 · Paper 2Describe TWO demerits of a centrally planned economy.
  12. 8(c)(i)2 marks· CSEC Economics · May/June 2011 · Paper 2Identify TWO characteristics of a mixed economic system.
  13. 8(c)(ii)6 marks· CSEC Economics · May/June 2011 · Paper 2Explain TWO disadvantages of a mixed economic system.
  14. 5(b)3 marks· CSEC Economics · May/June 2012 · Paper 2List THREE types of business organization.
  15. 5(d)5 marks· CSEC Economics · May/June 2012 · Paper 2Explain how a baker would respond to the THREE resource allocation decisions that arise in a free market economy.
  16. 1(a)1 mark· CSEC Economics · May/June 2013 · Paper 2State ONE type of economic system.
  17. 7(c)8 marks· CSEC Economics · May/June 2013 · Paper 2Describe TWO advantages associated with operating as a sole trader.
  18. 1(d)6 marks· CSEC Economics · May/June 2014 · Paper 2Explain TWO factors that should be considered before opening an internet cafe.
  19. 2(a)(i)2 marks· CSEC Economics · May/June 2014 · Paper 2Define the term 'economic system'.
  20. 2(b)6 marks· CSEC Economics · May/June 2015 · Paper 2Explain the THREE resource allocation decisions that are often made under a free market system.
  21. 1(d)6 marks· CSEC Economics · May/June 2016 · Paper 2Explain how the THREE resource allocation decisions are made in a free market economy.

Related topics in Section 2: Production, Economic Resources and Resource Allocation