CSEC Principles of Business · May/June 2014 · 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.

1. 1(a)(i)2 marksState two responsibilities of management to society.
2. 1(a)(ii)2 marksState two responsibilities of management to government.
3. 1(a)(iii)2 marksState two responsibilities of management to the owners of the business.
4. 1(b)(i)2 marksIdentify two sources of conflict within an organization.
5. 1(b)(ii)4 marksDescribe two strategies for resolving conflicts within an organization.
6. 1(c)(i)2 marksOutline one difference between a 'line relationship' and a 'staff relationship' in an organizational chart.
7. 1(c)(ii)3 marksConstruct an organizational chart showing the line relationship among three employees in a business: manager, supervisor of mail delivery, and supervisor of mail sorting.
8. 1(d)3 marksDiscuss one reason why teamwork is important to the success of small businesses.
9. 2(a)(i)2 marksDefine the term 'business ethics'.
10. 2(a)(ii)2 marksDefine the term 'entrepreneurship'.
11. 2(b)(i)4 marksDescribe two unethical business practices.
12. 2(b)(ii)4 marksOutline two consequences of unethical business practices.
13. 2(c)2 marksState two government regulations for the establishment of a business.
14. 2(d)6 marksDiscuss two challenges that entrepreneurs usually face when starting their own businesses.
15. 3(a)(i)2 marksDefine the term 'bank rate'.
16. 3(a)(ii)2 marksDefine the term 'liquid assets'.
17. 3(a)(iii)2 marksDefine the term 'open market operations'.
18. 3(b)4 marksState two differences between a commercial bank and a central bank.
19. 3(c)4 marksOutline two factors that a banker will consider when approving a request for a loan.
20. 3(d)6 marksDiscuss two ways in which governments can regulate the financial sector in a country.
21. 4(a)(i)4 marksDifferentiate between production and productivity.
22. 4(a)(ii)4 marksDifferentiate between subsistence production and domestic production.
23. 4(b)(i)4 marksDefine the term 'capital-intensive production', giving two examples.
24. 4(b)(ii)2 marksState one advantage and one disadvantage of capital-intensive production.
25. 4(c)6 marksDiscuss two measures which production managers could implement to bring about greater productivity.
26. 5(a)(i)2 marksList two middlemen in the chain of distribution.
27. 5(a)(ii)4 marksDescribe two services performed by middlemen.
28. 5(b)(i)4 marksDescribe two factors that should be considered when choosing a distribution channel.
29. 5(b)(ii)4 marksOutline two benefits of direct distribution.
30. 5(c)6 marksFresh Bloom Farms has decided to export cut flowers. Discuss two problems which may affect the distribution of this product.
31. 6(a)(i)2 marksDefine the term 'standard of living'.
32. 6(a)(ii)2 marksDefine the term 'economic growth'.
33. 6(a)(iii)2 marksDefine the term 'economic development'.
34. 6(b)2 marksIdentify two factors which contribute to economic growth.
35. 6(c)6 marksOutline three ways in which a government could improve the standard of living of its citizens.
36. 6(d)6 marksDiscuss two measures which governments could implement to correct an adverse balance of payments.
37. 7(a)(i)2 marksDefine the term 'public sector'.
38. 7(a)(ii)2 marksDefine the term 'unemployment'.
39. 7(a)(iii)2 marksDefine the term 'foreign investment'.
40. 7(b)2 marksIdentify two types of unemployment.
41. 7(c)6 marksOutline three ways in which governments can assist private sector businesses.
42. 7(d)6 marksDiscuss two benefits of foreign direct investment (FDI) to the host country.