Free CXC Principles of Business Paper 2 May/June 2011 past paper from 2011. 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 2011 - Free CXC Past Paper with Answers
Free CXC Principles of Business Paper 2 May/June 2011 past paper from 2011. 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.
Answer the THREE questions in this section.
[20 marks]
State TWO characteristics of EACH of the following types of leadership styles:
[8 marks]
Democratic
[4 marks]
Autocratic
[4 marks]
State THREE essential characteristics of a good leader.
[6 marks]
Discuss how the lack of TWO of the essential characteristics of good leadership identified in (b) above can affect an organization.
[6 marks]
Define the term 'feasibility study'.
[2 marks]
Outline THREE instances where feasibility studies are useful.
[6 marks]
State THREE roles of an entrepreneur.
[6 marks]
Discuss TWO ways in which entrepreneurs contribute to the development of your country.
[6 marks]
Define the term 'savings'.
[2 marks]
List TWO methods of saving that are available to individuals.
[2 marks]
Identify TWO sources of short-term financing and TWO sources of long-term financing.
[4 marks]
Explain the role of the Central Bank as
[6 marks]
an advisor to the government
[3 marks]
a lender of last resort.
[3 marks]
Identify TWO types of monetary transactions that can be conducted within the banking system without the use of cash. Discuss how EACH transaction is performed.
[6 marks]
Answer EITHER Question 4 OR Question 5. Do NOT answer both.
[20 marks]
Distinguish between the terms 'market' and 'marketing'.
[4 marks]
State FOUR reasons for conducting market research.
[4 marks]
Define the term 'monopoly'.
[4 marks]
State TWO features of monopolistic competition.
[4 marks]
Discuss ONE potential problem related to the distribution of goods
[6 marks]
locally
[3 marks]
internationally.
[3 marks]
Identify TWO types of credit methods provided by commercial banks.
[2 marks]
Explain EACH of the TWO types of credit methods identified in (a) (i) works.
[6 marks]
State TWO reasons why business documents are important in international trade.
[2 marks]
Distinguish between the terms 'credit note' and 'debit note'.
[4 marks]
Discuss TWO reasons why a supplier may use a 'pro forma invoice'.
[6 marks]
Answer EITHER Question 6 OR Question 7. Do NOT answer both.
[20 marks]
Explain what is meant by the statement 'government is a regulator of business', giving TWO examples to support your explanation.
[5 marks]
State THREE purposes of taxation. For EACH of the purposes stated, explain how the government in your country uses the taxes collected.
[9 marks]
Discuss EACH of the following consumer protection legislations showing how EACH benefits consumers.
[6 marks]
Food and drug standards
[3 marks]
Hire purchase laws
[3 marks]
Explain how the national income of a country is measured using EACH of the following methods:
[6 marks]
Income
[2 marks]
Expenditure
[2 marks]
Output
[2 marks]
Explain ONE function of EACH of the following organizations:
[6 marks]
Caribbean Development Bank
[2 marks]
World Bank
[2 marks]
International Monetary Fund
[2 marks]
Explain what is meant by CSME.
[2 marks]
Discuss TWO ways in which the CSME can assist in the economic development of Caribbean countries.
[6 marks]