CSEC Principles of Business · 2021 · Paper 2

26 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)4 marksList FOUR instruments of exchange.
2. 1(b)4 marksOutline TWO ways in which money facilitates trade in the modern economy.
3. 1(c)(i)2 marksSole proprietorships (sole traders)
4. 1(c)(ii)2 marksPublic limited companies
5. 1(c)(iii)2 marksCooperatives
6. 1(d)6 marksExplain THREE ways in which businesses in a free market economy operate when compared to businesses in a planned economy.
7. 2(a)4 marksIdentify FOUR potential sources of conflict within the workplace.
8. 2(b)4 marksList FOUR actions that employees may take to gain the upper hand during periods of conflict.
9. 2(c)(i)2 marksGrievance procedure
10. 2(c)(ii)2 marksMediation
11. 2(c)(iii)2 marksArbitration
12. 2(d)6 marksExplain TWO strategies that may be adopted by management to build good relationships between management and staff in the workplace.
13. 3(a)4 marksDistinguish between the 'subsistence level of production' and the 'domestic level of production'.
14. 3(b)3 marksList THREE characteristics of cottage industries.
15. 3(c)(i)3 marksState THREE functions of small businesses in rural communities.
16. 3(c)(ii)4 marksState TWO advantages and TWO disadvantages of small businesses.
17. 3(d)6 marksExplain TWO possible effects the firm's growth may have on the internal operations of the business.
18. 4(a)(i)2 marksE-commerce
19. 4(a)(ii)2 marksGlobal positioning system (GPS)
20. 4(b)4 marksList FOUR activities involved in supply chain operations.
21. 4(c)6 marksOutline THREE advantages of supply chain operations to a firm.
22. 4(d)6 marksExplain TWO ways in which logistics could improve the competitiveness of a business.
23. 5(a)4 marksList FOUR social services which are provided by a government for the citizens of its country.
24. 5(b)4 marksOutline TWO responsibilities of a government to its citizens.
25. 5(c)6 marksDescribe THREE ways in which governments may assist in the development of the local business sector.
26. 5(d)6 marksExplain TWO ways in which education could contribute to economic growth in the Caribbean region.