te CT GS. rest cone 01240020 | FORM TP 2017028 JANUARY 2017 CARIBBEAN EXAMINATION coUNCcI CARIBBEAN SECONDARY EDUCATION CERTIFICATE? EXAMINATION PRINCIPLES OF BUSINESS Paper 02 ~ General Proficiency 2 hours READ THE FOLLOWING INSTRUCTIONS CAREFULLY. |. This paper consists oF FIVE questions. Answer all questions. 2. Write your answers inthe spaces provided in this answer booklet Do NOT write inthe mangins. 4. Youare advised to take some time to read through the paper and plan your answers. 5. Ifyou need to ewrte any answer and there isnot enough space to do so on the original page, you must use the extra lined page(s) provided atthe back of this booklet. Remember to draw a line through your original answer, 6. Ifyou use the extra page(s) you MUST write the question number clearly In the box provided at the top ofthe extra page(s) and, where relevant, include the question part beside the answer. DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO. ‘Copyright ©2016 Caribbean Examinations Couneil All eights reserved. 0 8 _] ‘or2ao0z003 L_oraiomasanuanve 2017Answer ALL questions. L | B 1. (8)__Define EACH of the following terms: i i © Barer 4 oT E i) Specialization : : amen i Gmaris) (8) Ste TWO characteristic of cooperntives. E ~ E : : (marks) 60 ON 10 THE NEXT PAGE (012400200 ANUARY/E 2017 L armel Jt4 s 4 (©) Distinguish between EACH ofthe following pairs of concepts; (Sole traders and partnerships EIN THIS AREA “BONOT WRITE, (Gmarks) (i) Private sector and public setor “DO NGT WRITE IN THES AREA (marta Go0N 10 THE NEXT PAGE [§B orzaoconanvan2017 L PT J ‘or24002005r (@) Explain ONE way in which each ofthe following stakeholdersisimportantto a retail business: Producers marks) Consumers (marke) ‘Total 20 marks GOON TO THE NEXT PAGE (01240020 ANUARY/F 2017 L “oe i 4 3 i : : { i 4 i oTr * 7 (List FOUR charneterstics ofa good leader. iis. NTH NOT WaT “Gmaris) mI Gi) Outline TWO types of leadership styles DONOT WRITE IN THIS AREA, marks) DO NOT WRITE IN THISAREA, GOON TO THE NEXT PAGE (012400200ANUARV/F 2017 L — =|© ‘Explain the importance of the ‘grapevine’ in informal communication. marks) id) Deserite TWO strategies fr effective communication within an organization. GOON TO THE NEXT PAGE (01240020ANUARY/F 2017 L neato208 a] TET ATE IEr ~ q (©) Explain TWO ways in which teamwork can contribute to the success ofa business "BO NOT WME NTS [DONOR WRITEIN THIS AREA" | aa | Total 20 marks lg Ee! ul [= : / BI 8 GO ON TO THE NEXT PAGE [BB or2sooz0saNuanvie 2017r “w- 7 3 (@) Define BACH of the following terms: (Production “@maris) Gi) Produetvigy @imaris) ©) Describe TWO factors which contribute othe eficeney of labour es GO ON TO THE NEXT PAGE 01240020,ANUARY/F 2017 L mee | 4 | 1: i | i 1 {™ 7 i) Lise TWO factors of production used inthe creation oF goods and services. 5 Pus AeA WRE TNT mars) (©) Mdentfy TWO industries inthe Caribbean that were developed fom eaeh ofthe following sctvitis: (Agriculture @ maria) Gi) Mining ; : i S GOON TO THE NEXT PAGE (0 A | ‘or24002011 o124o2004NUARYT 2017rc sas 4 (2) Explain TWO ways in which human resource development inthe Caribbean can be promote, (mars) ‘Total 20 marks GO ON TO THE NEXT PAGE (01240020JANUARV/E 2017 L Ce al J SE oR ha are ren Tae eee sabea 0 no war wer BO NOT WRITE IN THISABEAr “»: 7 (Define the term marketing” NTSARA “Gmaris) (ii) List TWO elements ofthe marketing mix. Gmaris) (6) Dilferetite between ‘perfect competition’ and ‘monopolistic competition’ bd NOT WATTE INTIS Ailes (marie) GO ON TO THE NEXT PAGE I EBS orotoomaasuanvie 2017 TT ar “ 1 (©) _ State TWO reasons for conducting market research, DO NOT WRITE IN THIS AREA @ marks) (i) Deseribe TWO factors which influence consumer behaviour. marks) Fe IN THIS. BONO GO ON TO THE NEXT PAGE (01240020 ANUARYIF 2017 L womonagynnann 4r vs 7 (2) Explain TWO ways in which the price of a good oF service contributes tothe marketing process. JN THIS AREA Co Baler wht BO NOT WRITE IN THES AREA *(Gmarks) = Ta 28 mart < i : = a coon To mENEXT PAGE [EB orztooansanvane 2017 L neT -16- qT. 5 (@)_—_)_ State TWO responsibilities of governments. is & i & i (i) List TWO sources of government income. Nar jak marks) (©) State FOUR ways in which businesses can protect the environment | DONT WRITE IN THT A (marks) DO NOT WRITEIN THISAREA | GO ON TO THE NEXT PAGE (01240020 ANUARV/F 2017 L ee =|7 7 (©) Describe TWO measures that governments can use to regulate business sctvity po nonWerrein ris aReA NOT WRITE IN THISAREA CU peeen GO ON TO THE NEXT PAGE (DONDE WaRETR THIS aaa ©) [SB oreuomusanvanvir 2017 L | 8 _] (012400201718. 7 (© Explain TWO ways by which governments can protect consumers. marks) ‘Total 20 marks END OF TEST IF YOU FINISH BEFORE. TIME IS CALLED, CHECK YOUR WORK ON THIS TEST. (01240020/ANUARYIF 2017 =| DONO? WRTPEIN THOS AREX. WRITEIN THISAREA DONO WRITE! if ‘DO NOT WRITE IN THIS A