Free CXC Principles of Business Paper 2 May/June 2005 past paper from 2005. Includes a worked answer key. Open the PDF, take a timed test, and study with AI on Caribbean AI.
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CSEC Principles of Business Paper 2 May/June 2005 - Free CXC Past Paper with Answers
Free CXC Principles of Business Paper 2 May/June 2005 past paper from 2005. Includes a worked answer key. Open the PDF, take a timed test, and study with AI on Caribbean AI.
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Every question from this paper as text. See the answers and worked solutions. Questions are the property of the Caribbean Examinations Council; Caribbean AI is not affiliated with CXC.
Identify TWO ways by which government can regulate the setting up of businesses.
[2 marks]
What is the significance of the word, 'Limited', in the name of a company?
[2 marks]
State the MAIN purpose of EACH of the following documents:
[6 marks]
Memorandum of Association
[2 marks]
Articles of Association
[2 marks]
Partnership Agreement
[2 marks]
Define 'productivity'.
[2 marks]
What is meant by 'capital'?
[2 marks]
Discuss THREE strategies which can be used to increase the efficiency of labour.
[6 marks]
Define the term, 'supply', in economic terms.
[2 marks]
Explain THREE factors, other than price, that may cause an increase in the supply of beef.
[6 marks]
Outline THREE factors, other than price, that may cause a decrease in the demand for ice-cream.
[6 marks]
Discuss THREE ways in which producers or consumers may influence the price of cheese.
[6 marks]
In 10 years, the Fair Deal Supermarket (FDS) Ltd. has grown from one shop to 8 branches. As a result of this expansion, management decided to introduce a Management Information System (MIS).
[20 marks]
What is the role of a Management Information System (MIS)?
[2 marks]
Explain EACH of the following functions of management:
[6 marks]
Planning
[3 marks]
Controlling
[3 marks]
Co-ordinating
Identify TWO problems FDS Ltd. may face, as a result of the expansion.
[4 marks]
State TWO ways in which FDS Ltd. can utilize MIS in its personnel department.
[4 marks]
Outline TWO benefits which FDS Ltd. can obtain from utilizing a MIS.
[4 marks]
State THREE functions of a business.
[3 marks]
Identify THREE differences between a market economy and a planned economy.
[6 marks]
Name a country which has: (i) A planned economy (ii) A mixed economy.
[2 marks]
A planned economy
[1 mark]
A mixed economy.
[1 mark]
List THREE methods of internal communication used in an organization.
[3 marks]
Evaluate the effectiveness of ONE method listed in (d) above.
[2 marks]
Outline TWO reasons why an effective communication flow is important to an organization.
[4 marks]
Explain the meaning of the terms 'diversification' and 'migration'.
[4 marks]
State THREE reasons why skilled workers migrate.
[6 marks]
Suggest TWO actions that the government of your country can take to discourage the migration of skilled personnel.
[4 marks]
Discuss TWO ways in which the migration of skilled personnel affects diversification.
[6 marks]
A firm is importing a new brand of disposable diapers for sale locally. There are many different brands available locally. You are asked for advice on marketing the product.
[20 marks]
Outline the purpose of a market research.
[2 marks]
Discuss FOUR factors that must be considered when marketing the new product.
[8 marks]
What is meant by 'sales promotion'?
[2 marks]
Justify TWO sales promotion techniques you are likely to use for this product.
[8 marks]
Differentiate between economic growth and economic development.
[3 marks]
Differentiate between economic growth and economic development.
Identify THREE major economic problems facing Caribbean countries.
[3 marks]
Outline THREE factors that may cause your country to experience economic growth.
[6 marks]
State TWO ways in which education can help in the economic development of your country.
[4 marks]
Discuss TWO benefits of foreign investment to your country.
[4 marks]
The following information was taken from the final accounts of Tropicalo, a country in the Caribee Isles. The figures are quoted in US ($M).
United States dollars Visible trade Exports 24 000 Imports 26 000
Invisible (net) Exports 20 000 Imports 15 000
[20 marks]
Differentiate between a country's terms of trade and its balance of trade.
[3 marks]
Calculate Tropicalo's balance of trade using the figures given above.
[2 marks]
Calculate Tropicalo's current account balance using the figures given above.
[3 marks]
Identify TWO ways in which a country may have a surplus on its current account.
[4 marks]
Explain what is meant by 'balance of payment'.
[2 marks]
Discuss THREE ways by which a country would be able to finance the deficit in its balance of payments.
[6 marks]