CSEC Principles of Business · January 2014 · 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.

1. 1(a)(i)2 marksDefine the term 'private sector'.
2. 1(a)(ii)4 marksOutline TWO ways in which a public sector business is different from a private sector business.
3. 1(b)(i)4 marksDescribe TWO characteristics of a co-operative.
4. 1(b)(ii)2 marksState ONE way in which a co-operative is different from a company.
5. 1(b)(iii)2 marksList TWO types of private sector businesses, other than companies and co-operatives.
6. 1(c)6 marksDiscuss TWO ways in which a private company is LIKELY to change if it were to be nationalized.
7. 2(a)(i)4 marks'Insurance' and 'assurance'
8. 2(a)(ii)4 marks'Life insurance' and 'business insurance'
9. 2(b)(i)2 marksState TWO ways in which insurance facilitates trade.
10. 2(b)(ii)4 marksOutline TWO reasons why documentation is important in business transactions.
11. 2(c)6 marksDiscuss TWO reasons why entrepreneurs should purchase insurance for their businesses.
12. 3(a)(i)3 marksCentral banks
13. 3(a)(ii)3 marksCommercial banks
14. 3(b)(i)4 marksDistinguish between an 'open cheque' and a 'crossed cheque'.
15. 3(b)(ii)(a)1 markOpen
16. 3(b)(ii)(b)1 markCrossed
17. 3(b)(iii)2 marksIdentify TWO financial institutions, other than banks, which offer saving facilities to consumers.
18. 3(c)6 marksDiscuss TWO reasons why it is better to save money in a financial institution rather than at home.
19. 4(a)(i)(a)1 marksugar cane is harvested
20. 4(a)(i)(b)1 marklumber is produced.
21. 4(a)(ii)2 marksList TWO by-products of sugar.
22. 4(b)(i)6 marksDifferentiate between 'primary production' and 'secondary production' and give ONE example of EACH.
23. 4(b)(ii)4 marksDescribe TWO ways in which primary production contributes to the local economy.
24. 4(c)6 marksDiscuss TWO ways in which technology impacts the sugar industry in Caribbean countries.
25. 5(a)(i)4 marksDistinguish between the terms 'copyright' and 'patent'.
26. 5(a)(ii)4 marksList FOUR categories of persons whose works are protected by copyright laws.
27. 5(b)(i)2 marksDefine the term 'brand name'.
28. 5(b)(ii)2 marksExplain what is meant by 'brand loyalty'.
29. 5(b)(iii)2 marksDescribe ONE way in which the use of brand names influences consumers.
30. 5(c)6 marksDiscuss TWO reasons that might explain why some consumers purchase pirated copies of DVDs.
31. 6(a)(i)2 marksDefine the term 'pollution'.
32. 6(a)(ii)2 marksIdentify TWO types of pollution.
33. 6(b)6 marksOutline THREE ways in which citizens of the Caribbean can help to protect the environment.
34. 6(c)4 marksOutline TWO major economic problems faced by Caribbean countries.
35. 6(d)6 marksDiscuss ONE measure which governments can use to solve EACH of the economic problems outlined in (c) above.
36. 7(a)4 marksDifferentiate between 'direct taxes' and 'indirect taxes', and give ONE example of EACH.
37. 7(b)6 marksDescribe THREE strategies which governments can use to encourage citizens to pay their taxes.
38. 7(c)4 marksState TWO ways in which tax payers are LIKELY to react to high level of taxation.
39. 7(d)6 marksDiscuss TWO purposes of taxation.