CSEC Principles of Business · May/June 2011 · 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)4 marksState TWO characteristics of democratic leadership style.
2. 1(a)(ii)4 marksState TWO characteristics of autocratic leadership style.
3. 1(b)6 marksState THREE essential characteristics of a good leader.
4. 1(c)6 marksDiscuss how the lack of TWO essential leadership characteristics identified in (b) can affect an organization.
5. 2(a)2 marksDefine the term 'feasibility study'.
6. 2(b)6 marksOutline THREE instances where feasibility studies are useful.
7. 2(c)6 marksState THREE roles of an entrepreneur.
8. 2(d)6 marksDiscuss TWO ways in which entrepreneurs contribute to the development of your country.
9. 3(a)(i)2 marksDefine the term 'savings'.
10. 3(a)(ii)2 marksList TWO methods of saving available to individuals.
11. 3(b)4 marksIdentify TWO sources of short-term financing and TWO sources of long-term financing.
12. 3(c)(i)3 marksExplain the role of the Central Bank as an advisor to the government.
13. 3(c)(ii)3 marksExplain the role of the Central Bank as a lender of last resort.
14. 3(d)6 marksIdentify TWO types of cashless monetary transactions within the banking system, and discuss how EACH is performed.
15. 4(a)4 marksDistinguish between the terms 'market' and 'marketing'.
16. 4(b)4 marksState FOUR reasons for conducting market research.
17. 4(c)(i)2 marksDefine the term 'monopoly'.
18. 4(c)(ii)4 marksState TWO features of monopolistic competition.
19. 4(d)(i)3 marksDiscuss ONE potential problem related to the distribution of goods locally.
20. 4(d)(ii)3 marksDiscuss ONE potential problem related to the distribution of goods internationally.
21. 5(a)(i)2 marksIdentify TWO types of credit methods provided by commercial banks.
22. 5(a)(ii)6 marksExplain how EACH of the TWO credit methods identified in (a)(i) works.
23. 5(b)2 marksState TWO reasons why business documents are important in international trade.
24. 5(c)4 marksDistinguish between the terms 'credit note' and 'debit note'.
25. 5(d)6 marksDiscuss TWO reasons why a supplier may use a 'pro forma invoice'.
26. 6(a)5 marksExplain what is meant by the statement 'government is a regulator of business', giving TWO examples to support your explanation.
27. 6(b)9 marksState THREE purposes of taxation, and for EACH explain how the government in your country uses the taxes collected.
28. 6(c)(i)3 marksDiscuss food and drug standards legislation showing how it benefits consumers.
29. 6(c)(ii)3 marksDiscuss hire purchase laws showing how they benefit consumers.
30. 7(a)(i)2 marksExplain how the national income of a country is measured using the income method.
31. 7(a)(ii)2 marksExplain how the national income of a country is measured using the expenditure method.
32. 7(a)(iii)2 marksExplain how the national income of a country is measured using the output method.
33. 7(b)(i)2 marksExplain ONE function of the Caribbean Development Bank.
34. 7(b)(ii)2 marksExplain ONE function of the World Bank.
35. 7(b)(iii)2 marksExplain ONE function of the International Monetary Fund.
36. 7(c)2 marksExplain what is meant by CSME.
37. 7(d)6 marksDiscuss TWO ways in which the CSME can assist in the economic development of Caribbean countries.