CSEC Principles of Business · January 2013 · Paper 2

44 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.

1. 1(a)(i)2 marksDefine the term 'enterprise'.
2. 1(a)(ii)4 marksIdentify FOUR stakeholders of a business.
3. 1(b)4 marksState FOUR reasons why individuals start their own business.
4. 1(c)4 marksOutline TWO ways in which businesses contribute to the development of their communities.
5. 1(d)6 marksDistinguish between a 'co-operative' and a 'company' and give ONE example of EACH.
6. 2(a)(i)4 marksDraw an organizational chart for 'We Market for You'.
7. 2(a)(ii)2 marksIdentify TWO functions of the general manager.
8. 2(b)4 marksDescribe TWO possible sources of conflict within an organization.
9. 2(c)4 marksOutline TWO benefits of teamwork to a business.
10. 2(d)(i)3 marksDiscuss ONE way in which 'We Market For You' can use text messages to communicate with employees.
11. 2(d)(ii)3 marksDiscuss ONE way in which 'We Market For You' can use office memos to communicate with employees.
12. 3(a)4 marksState FOUR characteristics of a good salesperson.
13. 3(b)(i)2 marksExplain cost plus pricing as a pricing technique used by firms to increase sales.
14. 3(b)(ii)2 marksExplain penetration pricing as a pricing technique used by firms to increase sales.
15. 3(c)(i)2 marksDefine cash discount as a term of sale.
16. 3(c)(ii)2 marksDefine trade discount as a term of sale.
17. 3(c)(iii)2 marksDefine hire purchase as a term of sale.
18. 3(d)(i)3 marksJustify the use of personal selling as a means of increasing the sales of insurance products.
19. 3(d)(ii)3 marksJustify the use of advertising as a means of increasing the sales of insurance products.
20. 4(a)4 marksIdentify FOUR factors that would determine where Ravi locates his business.
21. 4(b)(i)2 marksExplain how Ravi could use backward linkages with other businesses to ensure further growth of his business.
22. 4(b)(ii)2 marksExplain how Ravi could use forward linkages with other businesses to ensure further growth of his business.
23. 4(c)6 marksOutline TWO advantages and ONE disadvantage of Ravi using technology to produce his product.
24. 4(d)6 marksDiscuss ONE positive effect and ONE negative effect of Ravi expanding his business.
25. 5(a)4 marksDefine the term 'target market' and give TWO examples of the LIKELY target market for sunblock face creams.
26. 5(b)6 marksDescribe THREE factors that are LIKELY to influence consumers' demand for sunblock face creams.
27. 5(c)4 marksState ONE advantage and ONE disadvantage of EACH method used by Shiva: questionnaires and interviews.
28. 5(d)6 marksIdentify TWO consumer protection agencies and explain how EACH works to protect the interests of consumers.
29. 6(a)(i)2 marksApart from taxes, identify TWO other sources from which governments obtain revenue to perform their roles.
30. 6(a)(ii)2 marksState TWO ways in which governments use the money collected from taxation.
31. 6(a)(iii)a)2 marksList TWO examples of direct taxes.
32. 6(a)(iii)b)2 marksList TWO examples of indirect taxes.
33. 6(b)(i)2 marksState TWO essential services for which governments are responsible.
34. 6(b)(ii)4 marksOutline TWO ways in which governments in the Caribbean attempt to regulate business activities.
35. 6(c)(i)3 marksDiscuss ONE effect of an increase in sales tax on households.
36. 6(c)(ii)3 marksDiscuss ONE effect of an increase in sales tax on businesses.
37. 7(a)(i)a)2 marksDefine the term balance of payments.
38. 7(a)(i)b)2 marksDefine the term balance of trade.
39. 7(a)(ii)a)2 marksDescribe the current account component of a country's balance of payments accounts.
40. 7(a)(ii)b)2 marksDescribe the capital account component of a country's balance of payments accounts.
41. 7(a)(ii)c)2 marksDescribe the official financing component of a country's balance of payments accounts.
42. 7(b)4 marksOutline TWO ways in which a country can finance a balance of payments deficit.
43. 7(c)(i)3 marksDiscuss how a country might use devaluation to deal with balance of payments problems.
44. 7(c)(ii)3 marksDiscuss how a country might use import quotas to deal with balance of payments problems.