CSEC Principles of Business · January 2017 · Paper 2

30 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 'barter'.
2. 1(a)(ii)2 marksDefine the term 'specialization'.
3. 1(b)2 marksState TWO characteristics of cooperatives.
4. 1(c)(i)4 marksDistinguish between sole traders and partnerships.
5. 1(c)(ii)4 marksDistinguish between the private sector and the public sector.
6. 1(d)(i)3 marksExplain ONE way in which producers are important to a retail business.
7. 1(d)(ii)3 marksExplain ONE way in which consumers are important to a retail business.
8. 2(a)(i)4 marksList FOUR characteristics of a good leader.
9. 2(a)(ii)4 marksOutline TWO types of leadership styles.
10. 2(b)(i)2 marksExplain the importance of the 'grapevine' in informal communication.
11. 2(b)(ii)4 marksDescribe TWO strategies for effective communication within an organization.
12. 2(c)6 marksExplain TWO ways in which teamwork can contribute to the success of a business.
13. 3(a)(i)2 marksDefine the term 'production'.
14. 3(a)(ii)2 marksDefine the term 'productivity'.
15. 3(b)(i)4 marksDescribe TWO factors which contribute to the efficiency of labour.
16. 3(b)(ii)2 marksList TWO factors of production used in the creation of goods and services.
17. 3(c)(i)2 marksIdentify TWO industries in the Caribbean that were developed from agriculture.
18. 3(c)(ii)2 marksIdentify TWO industries in the Caribbean that were developed from mining.
19. 3(d)6 marksExplain TWO ways in which human resource development in the Caribbean can be promoted.
20. 4(a)(i)2 marksDefine the term 'marketing'.
21. 4(a)(ii)2 marksList TWO elements of the marketing mix.
22. 4(b)4 marksDifferentiate between 'perfect competition' and 'monopolistic competition'.
23. 4(c)(i)2 marksState TWO reasons for conducting market research.
24. 4(c)(ii)4 marksDescribe TWO factors which influence consumer behaviour.
25. 4(d)6 marksExplain TWO ways in which the price of a good or service contributes to the marketing process.
26. 5(a)(i)2 marksState TWO responsibilities of governments.
27. 5(a)(ii)2 marksList TWO sources of government income.
28. 5(b)4 marksState FOUR ways in which businesses can protect the environment.
29. 5(c)6 marksDescribe TWO measures that governments can use to regulate business activity.
30. 5(d)6 marksExplain TWO ways by which governments can protect consumers.