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CSEC Principles of Business · January 2010 · Paper 2

39 questions and parts from this paper. Open one to see it in full, then practise it on Quelpr and get it marked against the mark scheme.

Practise this paper
  1. 1(a)(i)2 marksDefine the term 'barter'.
  2. 1(a)(ii)4 marksState TWO problems associated with barter.
  3. 1(a)(iii)4 marksExplain TWO ways in which the use of money can overcome the problems associated with barter.
  4. 1(b)(i)2 marksCompare the private sector with the public sector in terms of ownership and control.
  5. 1(b)(ii)2 marksCompare the private sector with the public sector in terms of objective or motive.
  6. 1(b)(iii)2 marksCompare the private sector with the public sector in terms of source of capital.
  7. 1(c)4 marksOutline TWO ways in which a free market economy differs from a planned or command economy.
  8. 2(a)(i)4 marksState TWO functions of the Marketing department of a business.
  9. 2(a)(ii)4 marksState TWO functions of the Finance department of a business.
  10. 2(b)2 marksState TWO reasons why individuals may decide to start their own business.
  11. 2(c)4 marksExplain TWO differences between long-term planning and short-term planning.
  12. 2(d)6 marksState THREE advantages of a private limited company.
  13. 3(a)4 marksIdentify FOUR factors that should influence Ms. Vanessa's choice of a business location.
  14. 3(b)4 marksState TWO advantages of operating a small business.
  15. 3(c)4 marksState TWO disadvantages that may result from business expansion.
  16. 3(d)2 marksIdentify TWO forms of technology that are essential for operating a business.
  17. 3(e)6 marksDescribe THREE benefits of using technology in business.
  18. 4(a)(i)2 marksIdentify TWO sources of income for individuals.
  19. 4(a)(ii)2 marksIdentify TWO sources of income for businesses.
  20. 4(b)4 marksIdentify FOUR types of services provided by commercial banks.
  21. 4(c)6 marksOutline THREE characteristics of a credit union.
  22. 4(d)(i)2 marksDefine the term 'budgeting'.
  23. 4(d)(ii)4 marksState TWO purposes of budgeting.
  24. 5(a)(i)2 marksDefine the term 'human resources'.
  25. 5(a)(ii)2 marksDefine the term 'productivity'.
  26. 5(b)(i)2 marksDescribe the subsistence level of production.
  27. 5(b)(ii)2 marksDescribe the domestic level of production.
  28. 5(b)(iii)2 marksDescribe the surplus level of production.
  29. 5(c)4 marksState TWO ways in which the efficiency of labour can be improved.
  30. 5(d)6 marksDiscuss TWO factors that can impact negatively on the productivity of workers.
  31. 6(a)(i)2 marksDefine the term 'standard of living'.
  32. 6(a)(ii)2 marksIdentify TWO indicators of standard of living.
  33. 6(b)8 marksDistinguish between 'economic growth' and 'economic development', giving TWO examples of EACH.
  34. 6(c)(i)2 marksDefine the term 'balance of payment'.
  35. 6(c)(ii)6 marksDiscuss TWO measures that a country may adopt to address its balance of payments problem.
  36. 7(a)2 marksDefine the term 'foreign direct investment' (FDI).
  37. 7(b)6 marksOutline THREE factors that could discourage FDI from coming to the Caribbean.
  38. 7(c)6 marksState THREE ways in which FDI may be attracted to the Caribbean.
  39. 7(d)6 marksDiscuss TWO ways in which Caribbean countries benefit from foreign investments.

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