CSEC Principles of Business · May/June 2013 · 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.

1. 1(a)2 marksList TWO types of documents used in business transactions.
2. 1(b)(i)4 marksDistinguish between the terms 'insurance' and 'assurance'.
3. 1(b)(ii)2 marksIdentify TWO types of insurance policies.
4. 1(c)6 marksOutline TWO unethical business practices related to record keeping and state ONE consequence of EACH practice outlined.
5. 1(d)6 marksDiscuss TWO benefits of keeping good business records.
6. 2(a)2 marksDefine the term 'management information system'.
7. 2(b)4 marksState TWO benefits and TWO challenges of using a management information system.
8. 2(c)(i)6 marksOutline THREE ways of resolving conflict among employees in an organization.
9. 2(c)(ii)2 marksState TWO responsibilities of management to employees.
10. 2(d)6 marksDiscuss TWO strategies which management can use to increase productivity.
11. 3(a)6 marksOutline THREE reasons why wholesaling is important in the distribution of goods and services.
12. 3(b)(i)4 marksDistinguish between e-commerce and telemarketing.
13. 3(b)(ii)4 marksDistinguish between convenience shops/stores and supermarkets.
14. 3(c)6 marksDiscuss TWO factors that may influence the type of packaging used in the presentation of goods to consumers.
15. 4(a)(i)3 marksIdentify THREE sources of capital for Janice to start her business.
16. 4(a)(ii)2 marksDefine the term 'collateral'.
17. 4(a)(iii)2 marksList TWO examples of collateral.
18. 4(b)(i)3 marksIdentify THREE personal traits which Janice should possess in order to be successful in business.
19. 4(b)(ii)4 marksDescribe TWO roles of an entrepreneur.
20. 4(c)6 marksDiscuss TWO factors which Janice must consider when deciding whether she should set up a sole proprietorship or a partnership business.
21. 5(a)(i)2 marksState TWO functions of transportation in business.
22. 5(a)(ii)4 marksOutline TWO advantages of road or land transport.
23. 5(b)(i)4 marksDescribe TWO problems related to the distribution of goods in your country.
24. 5(b)(ii)4 marksOutline ONE measure that can be used to solve EACH problem described in (b)(i).
25. 5(c)6 marksDiscuss TWO types of commercial banking services available to businesses engaged in transportation.
26. 6(a)(i)2 marksDefine the term 'taxes'.
27. 6(a)(ii)2 marksDefine the term 'subsidies'.
28. 6(a)(iii)2 marksState TWO reasons why governments impose taxes.
29. 6(a)(iv)2 marksIdentify TWO services which a government in the Caribbean would normally subsidize.
30. 6(b)(i)2 marksDifferentiate between 'progressive' taxes and 'regressive' taxes.
31. 6(b)(ii)2 marksList TWO examples of direct taxes.
32. 6(b)(iii)2 marksList TWO examples of indirect taxes.
33. 6(c)6 marksDiscuss TWO steps which your government could take to protect the interests of local poultry farmers.
34. 7(a)(i)2 marksDefine the term 'per capita income'.
35. 7(a)(ii)2 marksExplain how per capita income is calculated.
36. 7(a)(iii)2 marksState ONE advantage and ONE disadvantage of using per capita income to measure a country's standard of living.
37. 7(a)(iv)2 marksList TWO factors, other than per capita income, which may be used to measure the standard of living.
38. 7(b)6 marksDiscuss TWO factors which may cause the per capita income of a country to rise.
39. 7(c)(i)4 marksDescribe any TWO of the following methods used to calculate a country's national income: a) The income method b) The expenditure method c) The output method
40. 7(c)(ii)2 marksState TWO factors which make it difficult to compare the standard of living of different countries.