CSEC Principles of Business Paper 2 January 2022 - Free CXC Past Paper with Answers

Jane studied Principles of Business while attending high school and was inspired to own and operate a business in her community.

State FOUR reasons why Jane would want to establish her own business.

List THREE characteristics Jane would need to possess in order to become a successful entrepreneur.

State THREE reasons why Jane should conduct a feasibility study prior to establishing her business.

State ONE role of any TWO stakeholders that will be involved in Jane's business.

Explain TWO ways in which Jane's business could contribute to the social and economic development of her country.

State THREE reasons why it is important for a firm to have proper documentation in all of its business transactions.

Outline the purpose of EACH of the following types of business documents.

Purchase requisition

List THREE types of non-life insurance policies.

Describe TWO principles upon which insurance is based.

Explain TWO ways in which insurance could be used to lower the risks associated with business.

Define the term 'public relations'.

Identify TWO types of public relations activities that are popular in the Caribbean.

Outline TWO ways in which the public relations activities of a firm could benefit communities.

Describe THREE factors that influence consumer behaviour.

Explain TWO ways in which a government can protect consumers through its consumer organizations.

Define EACH of the following terms.

Supply chain operations

State TWO differences between a 'bill of lading' and an 'airway bill'.

Outline THREE roles of transportation in the marketing of goods.

Explain TWO problems an agricultural firm may face when distributing bananas from the Caribbean to the USA.

State TWO functions of the Caribbean Community (CARICOM).

State TWO benefits Caribbean countries may enjoy as members of CARICOM.

Define the term 'foreign direct investment' (FDI).

State FOUR reasons why foreign businesses may be willing to invest in the Caribbean region.

Outline TWO ways in which human resource development could assist in reducing the economic problems of CARICOM countries.

Explain TWO ways in which a local shoe manufacturing firm can use technology to boost its production levels.

CSEC Principles of Business Paper 2 January 2022 Questions