CXC Principles of Business Exam guide: Section 1: The Nature of Business



CXC CSEC Principles of Business Exam guide: Section 1: The Nature of Business

CXC CSEC Principles of Business Exam Guide

 

Profile 1: Organizational Principles

Section 1: The Nature of Business

SPECIFIC OBJECTIVES

The students should be able to:

CONTENT
1.

Explain terms and concepts related to business;

Definition and explanation of the following terms and concepts:

(a) enterprise

(b) entrepreneurship

(c) barter

(d) profit

(e) loss

(f) trade

(g) organization

(h) economy

(i) producer

(j) consumer

(k) exchange

(l) goods

(m) services

(n) market

(o) commodity

(p) capital

(q) labour

(r) specialization

2. Trace the development of instruments of exchange;

Brief history of trading instruments from subsistence economy to money economy, including the use of the following:

(a) bills of exchange

(b) credit cards

(c) electronic transfer

(d) tele-banking and e-commerce

3.

State reasons why an individual may want to establish a business;

Reasons for establishing a business

 

4.

Describe the various forms of business organizations and arrangements;

Forms of business organizations and arrangements: definition, formation and management of:

(a) sole trader

(b) partnerships

(c) co-operatives

(d) companies (including conglomerates      and multi-nationals)

(e) franchises

(f) state corporations and nationalized      industries

(g) local and municipal authorities

(h)government departments

(j) concept of private and public sectors

5. Differentiate among the different economic systems;

Types of economic systems:

(a) traditional (subsistence)

(b) command or planned (socialist)

(c) free or capitalist

(d) mixed (public and private)

6. Identify the stakeholders involved in business activities;

Owners, employees, customers and all other members of society

7.

Discuss the role of the stakeholders involved in business activities;

Role of employers, employees, consumers and government.

8. Outline the functions of a business;

Functions of a business in satisfying needs and wants through the provision of goods and services.

9.

Describe the role of business within a community.

Economic, financial, social, political and ethical.

 


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hesia abrams (not verified)
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what is a brief history of trading instrument from subsistence economy to money economy with the use of bill exchange, credit cards, electronic transfer, telebanking, and e-commerce.

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shirlo (not verified)
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vikaash (not verified)
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mrs osborne (not verified)
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admin's picture
admin
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Joined: 23 Oct 2007
Re: POB and Geography

Hello,

No, you are not allowed to carry a dictionary into the CXC CSEC exams.

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skipp (not verified)
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shenika (not verified)
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RAJEAVE MATTIS (not verified)
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Attean (not verified)
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sabo_sabo (not verified)
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