Free CXC Principles of Business Paper 2 May/June 2009 past paper from 2009. 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 2009 - Free CXC Past Paper with Answers
Free CXC Principles of Business Paper 2 May/June 2009 past paper from 2009. 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.
State TWO reasons why an individual may want to establish a business.
[4 marks]
Outline THREE ways in which residents may benefit from having a business located in their community.
[6 marks]
State THREE ways in which a planned economy is different from a free market economy.
[6 marks]
Identify TWO benefits that a business will enjoy by converting from a partnership to a private limited company.
[4 marks]
Mrs Greenwood is the owner of Refreshing Water, a bottled water business. In the last month, she has been having mechanical problems at the factory and as a result has not been able to meet time or quantity demands.
Define the term 'entrepreneurship'.
[2 marks]
Explain ONE way in which Mrs Greenwood could use her entrepreneurial skills to solve the problem at Refreshing Water.
[3 marks]
Outline THREE reasons why Mrs Greenwood may have decided to open her own business.
[6 marks]
Identify THREE unethical practices in which Mrs Greenwood could engage to ensure that she does not lose business.
[3 marks]
Outline THREE consequences of unethical practices in business.
[6 marks]
Explain what is meant by the term 'market research'.
[2 marks]
Outline THREE reasons why businesses should conduct market research.
[6 marks]
State TWO ways by which hotels may promote sales during the off-season.
[4 marks]
Outline FOUR factors that may influence consumer behaviour in purchasing a cellphone.
[8 marks]
Define EACH of the following terms:
[4 marks]
Migration
[2 marks]
Labour supply
[2 marks]
Identify FOUR factors that affect the labour supply of a country.
[4 marks]
Outline TWO ways in which migration may affect the labour supply of (i) the country from which workers migrate (ii) the country to which workers migrate.
[8 marks]
Differentiate between production and productivity.
[4 marks]
Mary-Jo has recently lost her job as a supervisor of a department store. She has been awarded a reasonable redundancy package and needs to live on a carefully monitored budget.
Define the term 'personal budgeting'.
[2 marks]
Outline TWO ways in which Mary-Jo could benefit from budgeting.
[4 marks]
The following saving options are available to Mary-Jo: (i) Credit unions (ii) Commercial banks
State ONE advantage and ONE disadvantage of EACH saving option to Mary-Jo.
[8 marks]
Mary-Jo wants to use some of her redundancy money to invest in the stock market or to purchase a house.
Describe the role of the stock market.
[2 marks]
Outline ONE advantage and ONE disadvantage of EITHER investing in the stock market OR purchasing a house.
[4 marks]
Define the term 'human resource development'.
[2 marks]
Outline THREE ways in which human resource development can affect the economic growth and development of Caribbean countries.
[6 marks]
Discuss the effect of EACH of the following economic problems on Caribbean countries: (i) Migration (ii) Economic dualism
[6 marks]
Outline THREE ways in which the Caribbean Development Bank can assist in reducing the economic problems of Caribbean countries.
[6 marks]
State ONE function of EACH of the following economic institutions: (i) World Trade Organization (WTO) (ii) European Union
[4 marks]
State THREE benefits that Caribbean countries may enjoy from being members of CARICOM.
[6 marks]
Outline TWO ways by which the development of the manufacturing sector can assist in reducing the economic problems of Caribbean countries.
[4 marks]
Define the term 'foreign direct investment' (FDI).
[2 marks]
Outline TWO ways in which foreign direct investment can contribute to the economic growth of a country.
[4 marks]