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CSEC Principles of Business · May/June 2012 · Paper 2

42 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)3 marksIdentify THREE features of a small business.
  2. 1(a)(ii)3 marksState THREE reasons why small businesses are important to a community.
  3. 1(b)(i)2 marksScale of production
  4. 1(b)(ii)2 marksPotential for export
  5. 1(c)4 marksOutline TWO benefits that she will enjoy from using CAD in her business.
  6. 1(d)6 marksDiscuss TWO disadvantages of using technology in a small business.
  7. 2(a)(i)2 marksSociety
  8. 2(a)(ii)2 marksEmployees
  9. 2(a)(iii)2 marksCustomers
  10. 2(b)(i)4 marksState FOUR ways in which managers can encourage teamwork within an organization.
  11. 2(b)(ii)4 marksDescribe TWO characteristics that would make a Prime Minister or President a good leader.
  12. 2(c)6 marksDiscuss TWO strategies which the management of DXC Ltd can employ to reduce conflict that may arise from this promotion.
  13. 3(a)2 marksDefine the term 'e-commerce'.
  14. 3(b)4 marksState TWO advantages and TWO disadvantages of 'e-commerce'.
  15. 3(c)4 marksOutline TWO reasons why firms offer trade discounts.
  16. 3(d)(i)6 marksDiscuss any TWO of the following 'terms of sale' options that are available to her: a) Hire purchase, b) Lay away plan, c) Credit sale, d) Credit card.
  17. 3(d)(ii)4 marksGiven that Maggie buys the refrigerator and it stops working after one month, advise her of TWO actions which she may take to get compensation from the store.
  18. 4(a)(i)3 marksState THREE reasons for establishing a business.
  19. 4(a)(ii)3 marksIdentify THREE sources of capital used in financing a business.
  20. 4(b)(i)4 marksDefine the term 'collateral' and give TWO examples of collateral that may be used in a business transaction.
  21. 4(b)(ii)4 marksOutline TWO reasons why collateral is important to a borrower.
  22. 4(c)(i)3 marksExecutive summary
  23. 4(c)(ii)3 marksFinancial projections
  24. 5(a)2 marksState TWO roles of commercial banks.
  25. 5(b)(i)2 marksMoney market and capital market
  26. 5(b)(ii)2 marksCrossed cheques and open cheques
  27. 5(b)(iii)2 marksBull market and bear market
  28. 5(c)6 marksDescribe THREE benefits that an entrepreneur may enjoy from starting his own business as opposed to purchasing investments.
  29. 5(d)6 marksDiscuss TWO types of investment options that are available to entrepreneurs.
  30. 6(a)(i)2 marksLaw and order
  31. 6(a)(ii)2 marksA safe environment for investors
  32. 6(a)(iii)2 marksJob security and other benefits for workers
  33. 6(b)4 marksOutline TWO actions which businesses could take to protect the environment.
  34. 6(c)4 marksSuggest TWO ways in which governments could encourage the private sector to invest in the education of its employees.
  35. 6(d)6 marksDiscuss TWO benefits that could result from BOTH government and private businesses investing in education.
  36. 7(a)2 marksDefine the term 'international trade'.
  37. 7(b)6 marksState THREE benefits of international trade.
  38. 7(c)(i)2 marksModern technology
  39. 7(c)(ii)2 marksDevelopment of the manufacturing sector
  40. 7(c)(iii)2 marksInvestment in research
  41. 7(d)(i)3 marksTariffs or custom duties
  42. 7(d)(ii)3 marksQuotas

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