CSEC Principles of Business · January 2018 · Paper 2

32 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 'goods'.
2. 1(a)(ii)2 marksDefine 'services'.
3. 1(b)4 marksOutline ONE advantage and ONE disadvantage of e-commerce.
4. 1(c)(i)2 marksState TWO characteristics of a planned economy.
5. 1(c)(ii)2 marksState TWO characteristics of a free enterprise economic system.
6. 1(c)(iii)2 marksState TWO characteristics of a mixed economy.
7. 1(d)6 marksExplain TWO ways in which businesses can contribute to the social and economic development of a country.
8. 2(a)(i)2 marksDefine 'counteroffer'.
9. 2(a)(ii)2 marksDefine 'invitation to treat'.
10. 2(b)4 marksDescribe TWO characteristics of a simple contract.
11. 2(c)(i)2 marksState TWO characteristics of a specialty contract.
12. 2(c)(ii)2 marksGive TWO examples of a specialty contract.
13. 2(d)2 marksDescribe ONE type of mistake in a contract.
14. 2(e)6 marksExplain TWO ways in which this contract was discharged or terminated.
15. 3(a)(i)3 marksIdentify THREE industries in the Caribbean that have developed from farming.
16. 3(a)(ii)3 marksIdentify THREE industries in the Caribbean that have developed from mining/quarrying.
17. 3(b)4 marksOutline TWO benefits of linkage industries to Caribbean economies.
18. 3(c)4 marksList FOUR factors which should be considered when determining the location of a business.
19. 3(d)6 marksExplain ONE positive effect and ONE negative effect of growth on a business.
20. 4(a)(i)2 marksDefine 'investment'.
21. 4(a)(ii)2 marksDefine 'savings'.
22. 4(b)(i)2 marksIdentify TWO sources of capital in the money market.
23. 4(b)(ii)2 marksIdentify TWO sources of capital in the capital market.
24. 4(c)2 marksState TWO factors which could determine how much capital a firm borrows.
25. 4(d)4 marksDescribe TWO methods used by central banks to regulate the activities of commercial banks.
26. 4(e)6 marksExplain ONE benefit and ONE risk of using the stock market for investment.
27. 5(a)(i)2 marksDefine 'economic growth'.
28. 5(a)(ii)2 marksDefine 'economic development'.
29. 5(b)3 marksList the THREE methods by which governments measure the national income of a country.
30. 5(c)3 marksState THREE reasons why countries engage in international trade.
31. 5(d)4 marksDistinguish between 'balance of trade' and 'balance of payments'.
32. 5(e)6 marksExplain TWO measures a country may adopt to address its balance of payments problems.