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SPEC 2019/01240020 MAY/JUNE 2019
CARIBBEAN EXAMINATIONS COUNCIL
CARIBBEAN SECONDARY EDUCATION CERTIFICATE® EXAMINATION
PRINCIPLES OF BUSINESS
SPECIMEN PAPER
Paper 02 – General Proficiency
2 hours
READ THE FOLLOWING INSTRUCTIONS CAREFULLY.
1. This paper comprises FIVE questions. Answer ALL questions
2. Write your answers in the spaces provided in this answer booklet.
3. Do NOT write in the margins.
4. You are advised to take some time before you start writing to read through the paper
and plan your answers.
5. EACH question is worth 20 marks.
6. If you need to rewrite any answer and there is not enough space to do so on the
original page, you must use the extra lined page(s) provided at the back of this
booklet. Remember to draw a line through your original answer.
7. If you use the extra page(s) you MUST write the question number clearly in the
box provided at the top of the 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 © 2017 Caribbean Examinations Council
All rights reserved.
01240020/SPEC 2019
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Answer ALL questions.
1. Janice retired after working for 15 years as a loan officer at a commercial bank. She then
decided to become an entrepreneur.
(a) (i) Define the term ‘entrepreneurship’.
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(2 marks)
(ii) State FOUR reasons why a person may start a business.
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(4 marks)
(b) Identify FOUR stakeholders that could be involved in Janice’s business.
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(4 marks)
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(c) Describe TWO types of services that Janice could offer given her banking experience.
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(4 marks)
(d) Explain TWO ways in which Janice’s business can benefit the community.
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(6 marks)
Total 20 marks
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2. (a) (i) List FOUR functions of a manager.
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(4 marks)
(ii) State THREE guidelines for establishing good relations between management and
employees.
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(3 marks)
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(b) (i) Identify THREE characteristics of a good leader.
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(3 marks)
(ii) Differentiate between a ‘participatory leadership style’ and an ‘autocratic leadership
style’.
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(4 marks)
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(c) Explain TWO ways in which an organization can benefit from teamwork.
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(6 marks)
Total 20 marks
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3. (a) List THREE examples of EACH of the following:
(i) Market structures
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(3 marks)
(ii) Methods of retailing
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(3 marks)
(b) Differentiate between ‘capital-intensive production’ and ‘labour-intensive production’.
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(4 marks)
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(c) Outline TWO purposes of branding.
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(4 marks)
(d) Explain TWO ways in which packaging helps in the marketing of goods.
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(6 marks)
Total 20 marks
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4. (a) Define the term ‘contract’.
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(2 marks)
(b) Outline EACH of the following features of a contract:
(i) Offer and acceptance
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(2 marks)
(ii) Consideration
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(2 marks)
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(c) (i) Distinguish between a ‘simple contract’ and a ‘specialty contract’ and give ONE example of
EACH type of contract.
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(6 marks)
(ii) State TWO ways in which contracts may be terminated.
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(2 marks)
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(d) Explain TWO circumstances under which a contract might be rendered invalid. Use
examples to support your answer.
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(6 marks)
Total 20 marks
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5. (a) (i) Outline TWO ways in which governments can regulate business activity.
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(4 marks)
(ii) Describe TWO measures which governments can take to protect consumers.
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(4 marks)
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(b) Outline THREE ways in which citizens of a country can benefit from improved roads and
transportation.
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(6 marks)
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(c) Explain TWO ways in which government could improve the education sector in a
country.
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(6 marks)
Total 20 marks
END OF TEST
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EXTRA SPACE
If you use this extra page, you MUST write the question number clearly in the box provided.
Question No.
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EXTRA SPACE
If you use this extra page, you MUST write the question number clearly in the box provided.
Question No.
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EXTRA SPACE
If you use this extra page, you MUST write the question number clearly in the box provided.
Question No.
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