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4 marksForms of Business Organisations

CSEC Principles of Business · January 2010 · Paper 2 · Question 1(c)

Outline TWO ways in which a free market economy differs from a planned or command economy.

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Other parts of this question

  1. 1(a)(i)Define the term 'barter'.[2 marks]
  2. 1(a)(ii)State TWO problems associated with barter.[4 marks]
  3. 1(a)(iii)Explain TWO ways in which the use of money can overcome the problems associated with barter.[4 marks]
  4. 1(b)(i)Compare the private sector with the public sector in terms of ownership and control.[2 marks]
  5. 1(b)(ii)Compare the private sector with the public sector in terms of objective or motive.[2 marks]
  6. 1(b)(iii)Compare the private sector with the public sector in terms of source of capital.[2 marks]

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