Free CXC Principles of Business Paper 2 May/June 2013 past paper from 2013. 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 2013 - Free CXC Past Paper with Answers
Free CXC Principles of Business Paper 2 May/June 2013 past paper from 2013. 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]
List TWO types of documents used in business transactions.
[2 marks]
Distinguish between the terms 'insurance' and 'assurance'. Identify TWO types of insurance policies.
[6 marks]
Distinguish between the terms 'insurance' and 'assurance'.
[4 marks]
Identify TWO types of insurance policies.
[2 marks]
Outline TWO unethical business practices related to record keeping and state ONE consequence of EACH practice outlined.
[6 marks]
Discuss TWO benefits of keeping good business records.
[6 marks]
Define the term 'management information system'.
[2 marks]
State TWO benefits and TWO challenges of using a management information system.
[4 marks]
Outline THREE ways of resolving conflict among employees in an organization.
[6 marks]
State TWO responsibilities of management to employees.
[2 marks]
Discuss TWO strategies which management can use to increase productivity.
[6 marks]
Distribution is a very important aspect of business; therefore firms must always assess how their products reach consumers.
[20 marks]
Outline THREE reasons why wholesaling is important in the distribution of goods and services.
[6 marks]
Distinguish between EACH of the following pairs of retailing methods:
[8 marks]
E-commerce and telemarketing
[4 marks]
Convenience shops/stores and supermarkets
[4 marks]
Discuss TWO factors that may influence the type of packaging used in the presentation of goods to consumers.
[6 marks]
Answer EITHER Question 4 OR Question 5. Do NOT answer both.
Janice needs funds to open a pasta production business.
[20 marks]
Identify THREE sources of capital for Janice to start her business.
[3 marks]
Define the term 'collateral'.
[2 marks]
List TWO examples of collateral.
[2 marks]
Identify THREE personal traits which Janice should possess in order to be successful in business.
[3 marks]
Describe TWO roles of an entrepreneur.
[4 marks]
Discuss TWO factors which Janice must consider when deciding whether she should set up a sole proprietorship or a partnership business.
[6 marks]
Answer EITHER Question 4 OR Question 5. Do NOT answer both.
[20 marks]
State TWO functions of transportation in business.
[2 marks]
Outline TWO advantages of road or land transport.
[4 marks]
Describe TWO problems related to the distribution of goods in your country.
[4 marks]
Outline ONE measure that can be used to solve EACH problem described in (b) (i) above.
[4 marks]
Discuss TWO types of commercial banking services available to businesses engaged in transportation.
[6 marks]
Answer EITHER Question 6 OR Question 7. Do NOT answer both.
A government senator reported that, even though his country was experiencing financial difficulties, it was too early to say whether the government would be forced to increase taxes or reduce subsidies.
[20 marks]
Define the term 'taxes'.
[2 marks]
Define the term 'subsidies'.
[2 marks]
State TWO reasons why governments impose taxes.
[2 marks]
Identify TWO services which a government in the Caribbean would normally subsidize.
[2 marks]
Poultry farmers in your country have complained about the increase in the quantities of chicken parts being imported.
[6 marks]
Differentiate between 'progressive' taxes and 'regressive' taxes.
[2 marks]
List TWO examples of direct taxes.
[2 marks]
List TWO examples of indirect taxes.
[2 marks]
Discuss TWO steps which your government could take to protect the interests of local poultry farmers.
[6 marks]
Answer EITHER Question 6 OR Question 7. Do NOT answer both.
[20 marks]
Define the term 'per capita income'.
[2 marks]
Explain how per capita income is calculated.
[2 marks]
State ONE advantage and ONE disadvantage of using per capita income to measure a country's standard of living.
[2 marks]
List TWO factors, other than per capita income, which may be used to measure the standard of living.
[2 marks]
Discuss TWO factors which may cause the per capita income of a country to rise.
[6 marks]
Describe any TWO of the following methods used to calculate a country's national income: a) The income method b) The expenditure method c) The output method
[4 marks]
State TWO factors which make it difficult to compare the standard of living of different countries.
[2 marks]