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


The students should be able to:


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


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

Reasons for establishing a business



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


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.


Describe the role of business within a community.

Economic, financial, social, political and ethical.


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Alan Peterson (not verified)
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Hmm thanks you so much for such a great information and encourage me to study more hard as compare to earlier in 2 year college study. I will use your guide as it helped me a lot in the past.

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guest (not verified)
wheres the answers

wheres the answers

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hesia abrams (not verified)
business subjects

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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princess (not verified)
principles of account

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shanice distance (not verified)
Principles of Business

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mrs osborne (not verified)
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shakiel chattoo (not verified)

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vikaash (not verified)
Pob and Geography

Are you allowed a dictionary in these subjects

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mrs osborne (not verified)
its exam no in school be real

its exam no in school be real

admin's picture
Joined: 23 Oct 2007
Re: POB and Geography


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)
Principle Of Business (POB)

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mellisa (not verified)
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Attean (not verified)
principles of business

write a brief history of of trading instruments from subsistenence economy to money economy

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Jemz_06 (not verified)

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Jay (not verified)

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sabo_sabo (not verified)
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