Free CXC Principles of Business Paper 2 May/June 2021 past paper from 2021. 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 2021 - Free CXC Past Paper with Answers
Free CXC Principles of Business Paper 2 May/June 2021 past paper from 2021. 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.
List FOUR instruments of exchange.
[4 marks]
Outline TWO ways in which money facilitates trade in the modern economy.
[4 marks]
State TWO characteristics of EACH of the following types of businesses.
[6 marks]
Sole proprietorships (sole traders)
[2 marks]
Public limited companies
[2 marks]
Cooperatives
[2 marks]
Explain THREE ways in which businesses in a free market economy operate when compared to businesses in a planned economy.
[6 marks]
Identify FOUR potential sources of conflict within the workplace.
[4 marks]
List FOUR actions that employees may take to gain the upper hand during periods of conflict.
[4 marks]
Describe EACH of the following strategies that may be used in the resolution of conflict in the workplace.
[6 marks]
Grievance procedure
[2 marks]
Mediation
[2 marks]
Arbitration
[2 marks]
Explain TWO strategies that may be adopted by management to build good relationships between management and staff in the workplace.
[6 marks]
Distinguish between the 'subsistence level of production' and the 'domestic level of production'.
[4 marks]
List THREE characteristics of cottage industries.
[3 marks]
State THREE functions of small businesses in rural communities.
[3 marks]
State TWO advantages and TWO disadvantages of small businesses.
[4 marks]
The owner of a small manufacturing business is considering expanding her firm.
Explain TWO possible effects the firm's growth may have on the internal operations of the business.
[6 marks]
Define EACH of the following forms of technology used in business.
[4 marks]
E-commerce
[2 marks]
Global positioning system (GPS)
[2 marks]
List FOUR activities involved in supply chain operations.
[4 marks]
Outline THREE advantages of supply chain operations to a firm.
[6 marks]
Explain TWO ways in which logistics could improve the competitiveness of a business.
[6 marks]
List FOUR social services which are provided by a government for the citizens of its country.
[4 marks]
Outline TWO responsibilities of a government to its citizens.
[4 marks]
Describe THREE ways in which governments may assist in the development of the local business sector.
[6 marks]
Education could be considered one of the great growth industries of developing economies.
Explain TWO ways in which education could contribute to economic growth in the Caribbean region.
[6 marks]