(a) Distinguish between a Command Vs a Free Market Economy. (b) Outline TWo advantages of a mixed economy over a command and free market economy. - What is meant by company's code of ethics? Outline 2 importance of having its code of ethics. Giving AN EXAMPLE of each, distinguish between an ethical issue and a legal issue. John has just completed his degree in business administration and wishes to apply as a ‘compliance officer at a government financial institution = State TWO responsibilities of a Compliance Officer. ~ State ONE risk the business may eliminate by hiring a compliance officer. ~ State TWO functional areas of a business that a compliance officer may be actively involved Outline TWO benefits of the duties of a compliance offer to the upper Management arm of ‘a business, Sophia has recently completed her degree in Public Relations. She also applied for a job at the same government institution as John but she also applied to a private LLC. She received letters of acceptance from both corporations. The government agency told her she'll be enrolled as a PUBLIC INFORMATION OFFICER while the private L.L.C. (Limited Liability Company said she would be enrolled as a PUBLIC RELATIONS. Officer. ~ Distinguish between a Public Information Officer (P.ILO.) and a Public Relations Officers {P.R.0.) - Explain TWO ways in which Sophia's qualification can be beneficial in the L.L.C.’s marketing department. Evaluate the importance of a functional organisational structure in an LLC. - How does having a proper functional organisational structure lead to () Higher productivity levels (ii) Decreases in Cost of Operation, ‘An Insurance Company had the following slogan on its Vision Board: “If you want to go fast, go alone. If you want to go far, go TOGETHER”. Outline how effective teamwork (i) Lowers stress for employees (ii) Boosts work productivityState TWO direct impacts of workplace conflicts on () The Manager (ii) The staff Outline TWO ways effective conflict resolution can (i) Increase performance in the workplace (ii) Personal growth and Insight 3. Jane Steel has a small shop in the rural town of Mavis Hill. She buys and sells a wide range of items. Some of these items are imported by Jane Steel. In recent times there has been increased levels of crime in the community, with several businesses in the area being the target of robberies and arson, (a) Distinguish between ‘insurance! and ‘assurance’. (2 marks) (b) State THREE principles upon which insurance is based, (3 marks) (c)_ Identify THREE types of insurance risks which businesses in Mavis Hill could insure against and state how businesses in the community can benefit by insuring against those risks. (6 marks) (4) (i) Identify THREE trade documents that Jane Steel may use when importing goods. (3 marks) (ii) State the purpose of EACH of the THREE trade documents you identified in (d) (i) above. (6 marks) 4. In recent times, the Caribbean island of Woodwater has been having problems with its financial institutions. Many customers have lost faith in the banking system and are withdrawing their money and purchasing shares on the stock market and real estate. The government, through the Central Bank, has stepped in to prevent a collapse of the commercial banking sector. (a) Distinguish between commercial banks and the Central Bank. (4 marks} (b) Outline FOUR types of services provided by commercial banks. (4 marks) (c)_ Explain ONE way in which customers may benefit from EACH of the services outlined in (b) above. (4 marks) (d) Outline TWO differences between purchasing shares on the stock market and saving in a ‘commercial bank, (4 marks) (e) Discuss TWO ways in which the Central Bank can intervene in the banking sector to prevent a collapse. (4 marks)5. (a) i) Explain the term ‘customer satisfaction”. (2 marks) {i State TWO ways in which a firm can ensure customer satisfaction. (2 marks) (b) Outline THREE responsibilities of management to customers. (6 marks) (c) Explain the role of EACH of the following organizations in consumer protection (i) Bureau of Standards (2 marks) (ii) Consumer Affairs Commission (2 marks) (e) Discuss TWO factors that influence consumer behaviour. (6 marks) 6. (a) Explain the terms ‘direct taxes’ and ‘indirect taxes’, giving ONE example of EACH type of tax, (6 marks) (b) State TWO purposes of taxation. (2 marks) (c) Ina recent budget presentation, a Minister of Finance announced a decision to increase ‘taxes on alcohol and tobacco. A leading financial commentator condemned this measure, claiming that such taxes are regressive, (i) Distinguish between ‘regressive taxation’ and ‘progressive taxation". (4 marks) (ii) Outline the MAIN reason in favour of a progressive tax system. (2 marks) (ii) Discuss TWO reasons why government may impose taxes on alcohol and tobacco. (6 marks) 7. (a) (i) State TWO functions of transportation in business. (2 marks) (i) Outline TWO advantages of road or land transport, (4 marks) (b) (i) Describe TWO problems related to the distribution of goods in your country. (4 marks) (ii) Outline ONE measure that can be used to solve EACH problem described in (b) (i) above. (4 marks) (c) Discuss TWO types of commercial banking services available to businesses engaged in transportation. (6 marks) 8. ACARICOM country, in the year 2000, experienced an increase in real Gross Domestic Product (GDP) by 2%. This resulted in an improvement in the standard of living and the quality of life enjoyed by individuals in that country. (a) Distinguish between ‘standard of living! and ‘quality of life". (4 marks) (b) Explain what is meant by an ‘increase in real GOP by 2%'. (3 marks) (c)_ Outline THREE factors that could have contributed to an improvement in the country's standard of living. (6 marks) (4) Describe TWO ways by which the Gross National Product (GNP) of a country may be measured. (4 marks) (e) Discuss how a country can experience an increase in real GOP without an improvement in its standard of living. (3 marks)10. Explain TWO Ways how a business can grow both internally and externally. (6 marks) Give TWO benefits of each growth type to the business (2 marks) - What two important criteria should be looked at with respect to(i) Management and (ii) The Employees when scaling a business. ‘What (i) Sales promo and (i) Selling technique can be implemented in ata (i) local bookstore and (ii) a pharmacy? - Define the concept of business Technology. (2 marks} ~ Explain the role of .C.T (Information Communication Technology) in b Company). = State TWO benefits and ONE ethical implications of ICT on a shipping business. ss (Shipping(a) Distinguish between a Command Vs a Free Market Economy. (b) Outline TWo advantages of a mixed economy over a command and free market economy. - What is meant by company's code of ethics? Outline 2 importance of having its code of ethics. Giving AN EXAMPLE of each, distinguish between an ethical issue and a legal issue. John has just completed his degree in business administration and wishes to apply as a ‘compliance officer at a government financial institution = State TWO responsibilities of a Compliance Officer. ~ State ONE risk the business may eliminate by hiring a compliance officer. ~ State TWO functional areas of a business that a compliance officer may be actively involved Outline TWO benefits of the duties of a compliance offer to the upper Management arm of ‘a business, Sophia has recently completed her degree in Public Relations. She also applied for a job at the same government institution as John but she also applied to a private LLC. She received letters of acceptance from both corporations. The government agency told her she'll be enrolled as a PUBLIC INFORMATION OFFICER while the private L.L.C. (Limited Liability Company said she would be enrolled as a PUBLIC RELATIONS. Officer. ~ Distinguish between a Public Information Officer (P.ILO.) and a Public Relations Officers {P.R.0.) - Explain TWO ways in which Sophia's qualification can be beneficial in the L.L.C.’s marketing department. Evaluate the importance of a functional organisational structure in an LLC. - How does having a proper functional organisational structure lead to () Higher productivity levels (ii) Decreases in Cost of Operation, ‘An Insurance Company had the following slogan on its Vision Board: “If you want to go fast, go alone. If you want to go far, go TOGETHER”. Outline how effective teamwork (i) Lowers stress for employees (ii) Boosts work productivityState TWO direct impacts of workplace conflicts on () The Manager (ii) The staff Outline TWO ways effective conflict resolution can (i) Increase performance in the workplace (ii) Personal growth and Insight 3. Jane Steel has a small shop in the rural town of Mavis Hill. She buys and sells a wide range of items. Some of these items are imported by Jane Steel. In recent times there has been increased levels of crime in the community, with several businesses in the area being the target of robberies and arson, (a) Distinguish between ‘insurance! and ‘assurance’. (2 marks) (b) State THREE principles upon which insurance is based, (3 marks) (c)_ Identify THREE types of insurance risks which businesses in Mavis Hill could insure against and state how businesses in the community can benefit by insuring against those risks. (6 marks) (4) (i) Identify THREE trade documents that Jane Steel may use when importing goods. (3 marks) (ii) State the purpose of EACH of the THREE trade documents you identified in (d) (i) above. (6 marks) 4. In recent times, the Caribbean island of Woodwater has been having problems with its financial institutions. Many customers have lost faith in the banking system and are withdrawing their money and purchasing shares on the stock market and real estate. The government, through the Central Bank, has stepped in to prevent a collapse of the commercial banking sector. (a) Distinguish between commercial banks and the Central Bank. (4 marks} (b) Outline FOUR types of services provided by commercial banks. (4 marks) (c)_ Explain ONE way in which customers may benefit from EACH of the services outlined in (b) above. (4 marks) (d) Outline TWO differences between purchasing shares on the stock market and saving in a ‘commercial bank, (4 marks) (e) Discuss TWO ways in which the Central Bank can intervene in the banking sector to prevent a collapse. (4 marks)5. (a) i) Explain the term ‘customer satisfaction”. (2 marks) {i State TWO ways in which a firm can ensure customer satisfaction. (2 marks) (b) Outline THREE responsibilities of management to customers. (6 marks) (c) Explain the role of EACH of the following organizations in consumer protection (i) Bureau of Standards (2 marks) (ii) Consumer Affairs Commission (2 marks) (e) Discuss TWO factors that influence consumer behaviour. (6 marks) 6. (a) Explain the terms ‘direct taxes’ and ‘indirect taxes’, giving ONE example of EACH type of tax, (6 marks) (b) State TWO purposes of taxation. (2 marks) (c) Ina recent budget presentation, a Minister of Finance announced a decision to increase ‘taxes on alcohol and tobacco. A leading financial commentator condemned this measure, claiming that such taxes are regressive, (i) Distinguish between ‘regressive taxation’ and ‘progressive taxation". (4 marks) (ii) Outline the MAIN reason in favour of a progressive tax system. (2 marks) (ii) Discuss TWO reasons why government may impose taxes on alcohol and tobacco. (6 marks) 7. (a) (i) State TWO functions of transportation in business. (2 marks) (i) Outline TWO advantages of road or land transport, (4 marks) (b) (i) Describe TWO problems related to the distribution of goods in your country. (4 marks) (ii) Outline ONE measure that can be used to solve EACH problem described in (b) (i) above. (4 marks) (c) Discuss TWO types of commercial banking services available to businesses engaged in transportation. (6 marks) 8. ACARICOM country, in the year 2000, experienced an increase in real Gross Domestic Product (GDP) by 2%. This resulted in an improvement in the standard of living and the quality of life enjoyed by individuals in that country. (a) Distinguish between ‘standard of living! and ‘quality of life". (4 marks) (b) Explain what is meant by an ‘increase in real GOP by 2%'. (3 marks) (c)_ Outline THREE factors that could have contributed to an improvement in the country's standard of living. (6 marks) (4) Describe TWO ways by which the Gross National Product (GNP) of a country may be measured. (4 marks) (e) Discuss how a country can experience an increase in real GOP without an improvement in its standard of living. (3 marks)10. Explain TWO Ways how a business can grow both internally and externally. (6 marks) Give TWO benefits of each growth type to the business (2 marks) - What two important criteria should be looked at with respect to(i) Management and (ii) The Employees when scaling a business. ‘What (i) Sales promo and (i) Selling technique can be implemented in ata (i) local bookstore and (ii) a pharmacy? - Define the concept of business Technology. (2 marks} ~ Explain the role of .C.T (Information Communication Technology) in b Company). = State TWO benefits and ONE ethical implications of ICT on a shipping business. ss (Shipping(a) Distinguish between a Command Vs a Free Market Economy. (b) Outline TWo advantages of a mixed economy over a command and free market economy. - What is meant by company's code of ethics? Outline 2 importance of having its code of ethics. Giving AN EXAMPLE of each, distinguish between an ethical issue and a legal issue. John has just completed his degree in business administration and wishes to apply as a ‘compliance officer at a government financial institution = State TWO responsibilities of a Compliance Officer. ~ State ONE risk the business may eliminate by hiring a compliance officer. ~ State TWO functional areas of a business that a compliance officer may be actively involved Outline TWO benefits of the duties of a compliance offer to the upper Management arm of ‘a business, Sophia has recently completed her degree in Public Relations. She also applied for a job at the same government institution as John but she also applied to a private LLC. She received letters of acceptance from both corporations. The government agency told her she'll be enrolled as a PUBLIC INFORMATION OFFICER while the private L.L.C. (Limited Liability Company said she would be enrolled as a PUBLIC RELATIONS. Officer. ~ Distinguish between a Public Information Officer (P.ILO.) and a Public Relations Officers {P.R.0.) - Explain TWO ways in which Sophia's qualification can be beneficial in the L.L.C.’s marketing department. Evaluate the importance of a functional organisational structure in an LLC. - How does having a proper functional organisational structure lead to () Higher productivity levels (ii) Decreases in Cost of Operation, ‘An Insurance Company had the following slogan on its Vision Board: “If you want to go fast, go alone. If you want to go far, go TOGETHER”. Outline how effective teamwork (i) Lowers stress for employees (ii) Boosts work productivityState TWO direct impacts of workplace conflicts on () The Manager (ii) The staff Outline TWO ways effective conflict resolution can (i) Increase performance in the workplace (ii) Personal growth and Insight 3. Jane Steel has a small shop in the rural town of Mavis Hill. She buys and sells a wide range of items. Some of these items are imported by Jane Steel. In recent times there has been increased levels of crime in the community, with several businesses in the area being the target of robberies and arson, (a) Distinguish between ‘insurance! and ‘assurance’. (2 marks) (b) State THREE principles upon which insurance is based, (3 marks) (c)_ Identify THREE types of insurance risks which businesses in Mavis Hill could insure against and state how businesses in the community can benefit by insuring against those risks. (6 marks) (4) (i) Identify THREE trade documents that Jane Steel may use when importing goods. (3 marks) (ii) State the purpose of EACH of the THREE trade documents you identified in (d) (i) above. (6 marks) 4. In recent times, the Caribbean island of Woodwater has been having problems with its financial institutions. Many customers have lost faith in the banking system and are withdrawing their money and purchasing shares on the stock market and real estate. The government, through the Central Bank, has stepped in to prevent a collapse of the commercial banking sector. (a) Distinguish between commercial banks and the Central Bank. (4 marks} (b) Outline FOUR types of services provided by commercial banks. (4 marks) (c)_ Explain ONE way in which customers may benefit from EACH of the services outlined in (b) above. (4 marks) (d) Outline TWO differences between purchasing shares on the stock market and saving in a ‘commercial bank, (4 marks) (e) Discuss TWO ways in which the Central Bank can intervene in the banking sector to prevent a collapse. (4 marks)5. (a) i) Explain the term ‘customer satisfaction”. (2 marks) {i State TWO ways in which a firm can ensure customer satisfaction. (2 marks) (b) Outline THREE responsibilities of management to customers. (6 marks) (c) Explain the role of EACH of the following organizations in consumer protection (i) Bureau of Standards (2 marks) (ii) Consumer Affairs Commission (2 marks) (e) Discuss TWO factors that influence consumer behaviour. (6 marks) 6. (a) Explain the terms ‘direct taxes’ and ‘indirect taxes’, giving ONE example of EACH type of tax, (6 marks) (b) State TWO purposes of taxation. (2 marks) (c) Ina recent budget presentation, a Minister of Finance announced a decision to increase ‘taxes on alcohol and tobacco. A leading financial commentator condemned this measure, claiming that such taxes are regressive, (i) Distinguish between ‘regressive taxation’ and ‘progressive taxation". (4 marks) (ii) Outline the MAIN reason in favour of a progressive tax system. (2 marks) (ii) Discuss TWO reasons why government may impose taxes on alcohol and tobacco. (6 marks) 7. (a) (i) State TWO functions of transportation in business. (2 marks) (i) Outline TWO advantages of road or land transport, (4 marks) (b) (i) Describe TWO problems related to the distribution of goods in your country. (4 marks) (ii) Outline ONE measure that can be used to solve EACH problem described in (b) (i) above. (4 marks) (c) Discuss TWO types of commercial banking services available to businesses engaged in transportation. (6 marks) 8. ACARICOM country, in the year 2000, experienced an increase in real Gross Domestic Product (GDP) by 2%. This resulted in an improvement in the standard of living and the quality of life enjoyed by individuals in that country. (a) Distinguish between ‘standard of living! and ‘quality of life". (4 marks) (b) Explain what is meant by an ‘increase in real GOP by 2%'. (3 marks) (c)_ Outline THREE factors that could have contributed to an improvement in the country's standard of living. (6 marks) (4) Describe TWO ways by which the Gross National Product (GNP) of a country may be measured. (4 marks) (e) Discuss how a country can experience an increase in real GOP without an improvement in its standard of living. (3 marks)10. Explain TWO Ways how a business can grow both internally and externally. (6 marks) Give TWO benefits of each growth type to the business (2 marks) - What two important criteria should be looked at with respect to(i) Management and (ii) The Employees when scaling a business. ‘What (i) Sales promo and (i) Selling technique can be implemented in ata (i) local bookstore and (ii) a pharmacy? - Define the concept of business Technology. (2 marks} ~ Explain the role of .C.T (Information Communication Technology) in b Company). = State TWO benefits and ONE ethical implications of ICT on a shipping business. ss (Shipping(a) Distinguish between a Command Vs a Free Market Economy. (b) Outline TWo advantages of a mixed economy over a command and free market economy. - What is meant by company's code of ethics? Outline 2 importance of having its code of ethics. Giving AN EXAMPLE of each, distinguish between an ethical issue and a legal issue. John has just completed his degree in business administration and wishes to apply as a ‘compliance officer at a government financial institution = State TWO responsibilities of a Compliance Officer. ~ State ONE risk the business may eliminate by hiring a compliance officer. ~ State TWO functional areas of a business that a compliance officer may be actively involved Outline TWO benefits of the duties of a compliance offer to the upper Management arm of ‘a business, Sophia has recently completed her degree in Public Relations. She also applied for a job at the same government institution as John but she also applied to a private LLC. She received letters of acceptance from both corporations. The government agency told her she'll be enrolled as a PUBLIC INFORMATION OFFICER while the private L.L.C. (Limited Liability Company said she would be enrolled as a PUBLIC RELATIONS. Officer. ~ Distinguish between a Public Information Officer (P.ILO.) and a Public Relations Officers {P.R.0.) - Explain TWO ways in which Sophia's qualification can be beneficial in the L.L.C.’s marketing department. Evaluate the importance of a functional organisational structure in an LLC. - How does having a proper functional organisational structure lead to () Higher productivity levels (ii) Decreases in Cost of Operation, ‘An Insurance Company had the following slogan on its Vision Board: “If you want to go fast, go alone. If you want to go far, go TOGETHER”. Outline how effective teamwork (i) Lowers stress for employees (ii) Boosts work productivityState TWO direct impacts of workplace conflicts on () The Manager (ii) The staff Outline TWO ways effective conflict resolution can (i) Increase performance in the workplace (ii) Personal growth and Insight 3. Jane Steel has a small shop in the rural town of Mavis Hill. She buys and sells a wide range of items. Some of these items are imported by Jane Steel. In recent times there has been increased levels of crime in the community, with several businesses in the area being the target of robberies and arson, (a) Distinguish between ‘insurance! and ‘assurance’. (2 marks) (b) State THREE principles upon which insurance is based, (3 marks) (c)_ Identify THREE types of insurance risks which businesses in Mavis Hill could insure against and state how businesses in the community can benefit by insuring against those risks. (6 marks) (4) (i) Identify THREE trade documents that Jane Steel may use when importing goods. (3 marks) (ii) State the purpose of EACH of the THREE trade documents you identified in (d) (i) above. (6 marks) 4. In recent times, the Caribbean island of Woodwater has been having problems with its financial institutions. Many customers have lost faith in the banking system and are withdrawing their money and purchasing shares on the stock market and real estate. The government, through the Central Bank, has stepped in to prevent a collapse of the commercial banking sector. (a) Distinguish between commercial banks and the Central Bank. (4 marks} (b) Outline FOUR types of services provided by commercial banks. (4 marks) (c)_ Explain ONE way in which customers may benefit from EACH of the services outlined in (b) above. (4 marks) (d) Outline TWO differences between purchasing shares on the stock market and saving in a ‘commercial bank, (4 marks) (e) Discuss TWO ways in which the Central Bank can intervene in the banking sector to prevent a collapse. (4 marks)5. (a) i) Explain the term ‘customer satisfaction”. (2 marks) {i State TWO ways in which a firm can ensure customer satisfaction. (2 marks) (b) Outline THREE responsibilities of management to customers. (6 marks) (c) Explain the role of EACH of the following organizations in consumer protection (i) Bureau of Standards (2 marks) (ii) Consumer Affairs Commission (2 marks) (e) Discuss TWO factors that influence consumer behaviour. (6 marks) 6. (a) Explain the terms ‘direct taxes’ and ‘indirect taxes’, giving ONE example of EACH type of tax, (6 marks) (b) State TWO purposes of taxation. (2 marks) (c) Ina recent budget presentation, a Minister of Finance announced a decision to increase ‘taxes on alcohol and tobacco. A leading financial commentator condemned this measure, claiming that such taxes are regressive, (i) Distinguish between ‘regressive taxation’ and ‘progressive taxation". (4 marks) (ii) Outline the MAIN reason in favour of a progressive tax system. (2 marks) (ii) Discuss TWO reasons why government may impose taxes on alcohol and tobacco. (6 marks) 7. (a) (i) State TWO functions of transportation in business. (2 marks) (i) Outline TWO advantages of road or land transport, (4 marks) (b) (i) Describe TWO problems related to the distribution of goods in your country. (4 marks) (ii) Outline ONE measure that can be used to solve EACH problem described in (b) (i) above. (4 marks) (c) Discuss TWO types of commercial banking services available to businesses engaged in transportation. (6 marks) 8. ACARICOM country, in the year 2000, experienced an increase in real Gross Domestic Product (GDP) by 2%. This resulted in an improvement in the standard of living and the quality of life enjoyed by individuals in that country. (a) Distinguish between ‘standard of living! and ‘quality of life". (4 marks) (b) Explain what is meant by an ‘increase in real GOP by 2%'. (3 marks) (c)_ Outline THREE factors that could have contributed to an improvement in the country's standard of living. (6 marks) (4) Describe TWO ways by which the Gross National Product (GNP) of a country may be measured. (4 marks) (e) Discuss how a country can experience an increase in real GOP without an improvement in its standard of living. (3 marks)10. Explain TWO Ways how a business can grow both internally and externally. (6 marks) Give TWO benefits of each growth type to the business (2 marks) - What two important criteria should be looked at with respect to(i) Management and (ii) The Employees when scaling a business. ‘What (i) Sales promo and (i) Selling technique can be implemented in ata (i) local bookstore and (ii) a pharmacy? - Define the concept of business Technology. (2 marks} ~ Explain the role of .C.T (Information Communication Technology) in b Company). = State TWO benefits and ONE ethical implications of ICT on a shipping business. ss (Shipping