CSEC Principles of Business · May/June 2016 · Paper 2

45 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 the term 'entrepreneurship'.
2. 1(a)(ii)4 marksState FOUR reasons why a person may start a business.
3. 1(b)4 marksIdentify FOUR stakeholders that could be involved in Janice's business.
4. 1(c)4 marksDescribe TWO types of services Janice may be able to offer given her banking experience.
5. 1(d)6 marksExplain TWO ways in which Janice's business can benefit the community.
6. 2(a)2 marksDefine the term 'conflict resolution'.
7. 2(b)(i)2 marksDescribe how poor communication can be a source of conflict at the workplace.
8. 2(b)(ii)2 marksDescribe how underperformance can be a source of conflict at the workplace.
9. 2(b)(iii)2 marksDescribe how limited resources can be a source of conflict at the workplace.
10. 2(c)(i)4 marksDistinguish between 'work to rule' and 'go slow'.
11. 2(c)(ii)2 marksState TWO benefits of mediation as a means of conflict resolution.
12. 2(d)(i)3 marksExplain ONE way in which management can use an open door policy to enhance relationships between management and staff.
13. 2(d)(ii)3 marksExplain ONE way in which management can use an annual retreat to enhance relationships between management and staff.
14. 3(a)(i)3 marksDefine 'capital' and give ONE example.
15. 3(a)(ii)3 marksDefine 'collateral' and give ONE example.
16. 3(b)6 marksOutline THREE advantages of borrowing money from a credit union as opposed to a bank.
17. 3(c)2 marksIdentify TWO elements of a business plan.
18. 3(d)(i)3 marksExplain ONE way in which a business plan is important to business owners.
19. 3(d)(ii)3 marksExplain ONE way in which a business plan is important to potential investors.
20. 4(a)(i)3 marksList THREE examples of market structures.
21. 4(a)(ii)3 marksList THREE examples of methods of retailing.
22. 4(b)4 marksDifferentiate between 'capital-intensive production' and 'labour-intensive production'.
23. 4(c)4 marksOutline TWO purposes of branding.
24. 4(d)6 marksExplain TWO ways in which packaging helps in the marketing of goods.
25. 5(a)(i)3 marksList THREE sources from which short-term financing may be obtained.
26. 5(a)(ii)3 marksList THREE sources from which long-term financing may be obtained.
27. 5(b)4 marksDifferentiate between 'savings' and 'investment'.
28. 5(c)4 marksOutline TWO ways in which the Internet has influenced investment activities.
29. 5(d)6 marksExplain TWO ways in which budgeting helps in managing personal finances.
30. 6(a)(i)2 marksDefine the term 'consumer protection'.
31. 6(a)(ii)2 marksIdentify TWO social services provided by governments.
32. 6(b)(i)2 marksDescribe ONE way in which governments carry out the responsibility of protection of the environment.
33. 6(b)(ii)2 marksDescribe ONE way in which governments carry out the responsibility of security of the state.
34. 6(b)(iii)2 marksDescribe ONE way in which governments carry out the responsibility of maintenance of a safe climate for investors.
35. 6(c)4 marksOutline TWO ways in which governments' decision to provide laptops to primary school children can positively impact their education.
36. 6(d)(i)3 marksExplain how governments use taxation to regulate business activities.
37. 6(d)(ii)3 marksExplain how governments use safety and health measures to regulate business activities.
38. 7(a)(i)2 marksDefine the term 'standard of living'.
39. 7(a)(ii)2 marksDefine the term 'national income'.
40. 7(b)(i)2 marksDescribe ONE way in which quality and availability of employment affects an individual's standard of living.
41. 7(b)(ii)2 marksDescribe ONE way in which quality and affordable housing affects an individual's standard of living.
42. 7(b)(iii)2 marksDescribe ONE way in which access to affordable and quality health care affects an individual's standard of living.
43. 7(c)4 marksDescribe TWO approaches used to measure national income.
44. 7(d)(i)3 marksExplain how the right to privacy can be used to evaluate the quality of life of citizens in your country.
45. 7(d)(ii)3 marksExplain how the right to education can be used to evaluate the quality of life of citizens in your country.