CSEC Principles of Business · 2022 · Paper 2

32 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 marksIdentify two primary categories of research data she must collect to set up the business.
2. 1(a)(ii)2 marksState one source for each category of data identified in (a)(i).
3. 1(b)4 marksState four reasons why Joanne may desire to establish her own enterprise.
4. 1(c)6 marksOutline three steps that Joanne must take when establishing the cosmetic business.
5. 1(d)6 marksExplain one advantage of short-term planning and one advantage of long-term planning for successfully operating a business.
6. 2(a)(i)2 marksDefine what is meant by a 'simple contract'.
7. 2(a)(ii)6 marksDescribe three characteristics of a specialty contract.
8. 2(b)(i)2 marksOutline what is meant by an offer in relation to a contract.
9. 2(b)(ii)2 marksOutline what is meant by a counteroffer in relation to a contract.
10. 2(c)2 marksBriefly explain one method by which a contract can be discharged or terminated.
11. 2(d)(i)1 markState the legal term that describes the scenario that has taken place between Doris and Mark.
12. 2(d)(ii)3 marksSuggest three actions that either party could have taken to prevent this misunderstanding from occurring.
13. 2(d)(iii)2 marksRecommend two methods to settle the dispute without pursuing legal action in court.
14. 3(a)(i)4 marksList four characteristics of cottage industries.
15. 3(a)(ii)2 marksState two examples of goods produced by cottage industries in the Caribbean.
16. 3(b)2 marksOutline one way tourism industry stakeholders can benefit from cottage production.
17. 3(c)4 marksDistinguish between primary production and secondary production, providing one example for each.
18. 3(d)2 marksOutline one benefit that additional capital provides towards business growth.
19. 3(e)6 marksExplain two ways linkage industries contribute to the economic development of a country.
20. 4(a)(i)2 marksIdentify the two missing links (A and B) in the distribution chain diagram shown in Figure 1.
21. 4(a)(ii)4 marksDescribe the role or function of any two intermediaries/links in the distribution chain shown in Figure 1.
22. 4(b)4 marksList four types of technology utilized within logistics and supply chain operations.
23. 4(c)4 marksOutline two benefits of information technology to logistics and supply chain management.
24. 4(d)(i)2 marksIdentify two potential problems Alex might encounter when sourcing food supplies from global distributors.
25. 4(d)(ii)4 marksFor each problem identified in (d)(i), outline one measure that could reduce or prevent the problem.
26. 5(a)(i)2 marksDefine the term 'unemployment'.
27. 5(a)(ii)3 marksList three distinct forms of unemployment.
28. 5(a)(iii)2 marksOutline one method a government can implement to help lower unemployment in its country.
29. 5(b)(i)3 marksState three reasons why Caribbean nationals choose to migrate to countries outside the region.
30. 5(b)(ii)2 marksOutline one adverse effect experienced by Caribbean countries when their citizens migrate.
31. 5(c)(i)2 marksDefine the term 'foreign investment'.
32. 5(c)(ii)6 marksExplain two positive impacts foreign investment can have on Caribbean nations.