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CSEC Principles of Business · January 2016 · Paper 2

40 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 'traditional economic system'.
  2. 1(a)(ii)2 marksDefine the term 'planned economic system'.
  3. 1(b)(i)2 marksState TWO advantages of a mixed economic system.
  4. 1(b)(ii)2 marksState TWO disadvantages of a mixed economic system.
  5. 1(c)6 marksOutline THREE ways in which a business could fulfill its role to government.
  6. 1(d)(i)3 marksExplain ONE way in which business owners contribute to the success of a business.
  7. 1(d)(ii)3 marksExplain ONE way in which employees contribute to the success of a business.
  8. 2(a)(i)2 marksDefine the term 'teamwork'.
  9. 2(a)(ii)4 marksState TWO advantages and TWO disadvantages of teamwork within an organization.
  10. 2(b)4 marksOutline TWO examples that show how teamwork is used at a school or in a workplace.
  11. 2(c)4 marksList FOUR important elements in the communication process.
  12. 2(d)(i)3 marksUsing an example, outline ONE strategy for effective communication between teachers and students.
  13. 2(d)(ii)3 marksUsing an example, outline ONE strategy for effective communication between teachers and parents.
  14. 3(a)(i)2 marksDefine the term 'entrepreneur'.
  15. 3(a)(ii)4 marksState TWO advantages and TWO disadvantages of being an entrepreneur.
  16. 3(b)(i)4 marksIdentify FOUR characteristics of an entrepreneur.
  17. 3(b)(ii)2 marksIdentify TWO problems faced by entrepreneurs.
  18. 3(b)(iii)2 marksOutline ONE way in which any ONE problem identified in (b)(ii) may be resolved.
  19. 3(c)6 marksExplain TWO ways in which entrepreneurship benefits an economy.
  20. 4(a)(i)2 marksDefine the term 'marketing'.
  21. 4(a)(ii)4 marksList the FOUR elements of the 'marketing mix'.
  22. 4(b)(i)2 marksState TWO reasons why firms engage in public relations (PR).
  23. 4(b)(ii)6 marksDescribe THREE marketing methods, other than social media, employed by businesses to promote sales.
  24. 4(c)6 marksExplain TWO ways in which businesses can use social media to promote sales.
  25. 5(a)(i)3 marksList THREE services offered by commercial banks.
  26. 5(a)(ii)3 marksList THREE services offered by central banks.
  27. 5(b)4 marksDifferentiate between a 'current account' and an 'ordinary savings account'.
  28. 5(c)4 marksOutline TWO ways in which technology has influenced banking and commerce.
  29. 5(d)6 marksExplain TWO ways in which a central bank regulates the activities of commercial banks.
  30. 6(a)(i)4 marksState TWO differences between 'direct taxes' and 'indirect taxes'.
  31. 6(a)(ii)2 marksList ONE example of a direct tax and ONE example of an indirect tax.
  32. 6(b)(i)6 marksOutline THREE reasons why governments charge taxes.
  33. 6(b)(ii)2 marksIdentify TWO sources of government revenue, other than taxes.
  34. 6(c)(i)3 marksExplain why the higher income earner pays more than the lower income earner under proportional taxation.
  35. 6(c)(ii)3 marksExplain why the higher income earner pays more than the lower income earner under progressive taxation.
  36. 7(a)(i)2 marksDefine the term 'international trade'.
  37. 7(a)(ii)6 marksOutline THREE reasons why countries trade with each other.
  38. 7(b)(i)4 marksDifferentiate between 'balance of trade' and 'balance of payments'.
  39. 7(b)(ii)2 marksList TWO components of a balance of payments account.
  40. 7(c)6 marksExplain TWO ways in which governments can address a balance of payments deficit.

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