CSEC Principles of Business · January 2015 · Paper 2

37 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 'bill of exchange'.
2. 1(a)(ii)2 marksDefine the term 'electronic transfer'.
3. 1(a)(iii)2 marksDefine the term 'e-commerce'.
4. 1(b)(i)4 marksDistinguish between a traditional economy and a planned economy.
5. 1(b)(ii)4 marksDistinguish between the public sector and the private sector.
6. 1(c)6 marksExplain two ways in which businesses can contribute to the development of the communities where they are located.
7. 2(a)(i)2 marksIdentify two means of communication within an organization.
8. 2(a)(ii)2 marksIdentify two barriers to effective communication.
9. 2(a)(iii)4 marksOutline two strategies for achieving effective communication.
10. 2(b)2 marksExplain the purpose of a management information system (MIS).
11. 3(a)(i)2 marksDefine the term 'entrepreneur'.
12. 3(a)(ii)2 marksList two characteristics of an entrepreneur.
13. 3(a)(iii)4 marksOutline two features of a business plan.
14. 3(b)(i)3 marksIdentify three steps that should be taken when establishing a business.
15. 3(b)(ii)3 marksState three reasons why individuals may wish to establish their own business.
16. 3(c)6 marksDescribe the likely effects of two unethical business practices on society.
17. 4(a)(i)4 marksList four marketing activities.
18. 4(a)(ii)2 marksState two elements of the marketing mix.
19. 4(b)4 marksDifferentiate between 'sales promotion' and 'public relations'.
20. 4(c)(i)2 marksList two examples of advertising.
21. 4(c)(ii)2 marksList two examples of personal selling.
22. 4(d)6 marksOutline three problems that a consumer might experience when purchasing goods via the Internet.
23. 5(a)(i)4 marksList four services offered by commercial banks.
24. 5(a)(ii)2 marksState two functions of a central bank.
25. 5(b)4 marksDifferentiate between 'savings' and 'investment'.
26. 5(c)(i)2 marksList two sources of short-term financing.
27. 5(c)(ii)2 marksList two sources of long-term financing.
28. 5(d)6 marksOutline three reasons why personal budgeting is important.
29. 6(a)(i)2 marksState two ways in which businesses can protect the natural environment of a country.
30. 6(a)(ii)6 marksDescribe three measures used by governments to protect consumers from unfair business practices.
31. 6(b)6 marksOutline three forms of assistance offered by governments to help businesses develop.
32. 6(c)6 marksExplain two ways in which governments could improve the healthcare sector in a country.
33. 7(a)(i)2 marksIdentify two factors that can be used to determine a country's standard of living.
34. 7(a)(ii)6 marksDescribe three measures that a government can take to improve the standard of living of its citizens.
35. 7(b)(i)2 marksDefine the term 'gross domestic product' (GDP).
36. 7(b)(ii)4 marksOutline two approaches used to measure national income.
37. 7(c)6 marksExplain two ways in which a country can address its balance of payments problems.