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WorksheetsCXC paper 1 2019
Total questions: 30
Worksheet time: 15mins
Which of the following types of business environments is MOST typical of the Commonwealth Caribbean?
Corporate state
Mixed economy
Centrally planned
Perfectly competitive
Which of the following is NOT a function of money?
Indivisibility
Store of value
Measure of value
Medium of exchange
A MAJOR function of the public sector is to:
Make a profit
serve the entire population
serve the interests of the shareholders
inspire competition among businesses
The legal responsibility of a sole proprietor to pay any money owed by the business is described as:
risk
insurance
limited liability
unlimited liability
Private enterprise is run MAINLY to
create profits
reduce inflation
distribute goods and services
provide jobs for more people
Selecting the objectives and the procedures for achieving goals is referred to as:
planning
organizing
controlling
motivating
Which of the following actions BEST describes an authoritarian leader?
Willing to take suggestions
Allowing workers to plan their own work
Making decisions without consultation
Consulting stakeholders who will be affected by decisions
Which of the following actions demonstrate the characteristics of a good leader?
I. Inspires workers
II. Delegates responsibilities
III. Makes intelligent decisions
I and II only
I and III only
II and III only
I, II and III
Which of the following are benefits of written communication?
I. Instant feedback
II. Provides evidence
III. Useful for detailed messages
I and II only
I and III only
II and III only
I, II and III
Under which of the following categories would subsidized meals for employees fall?
Fringe benefits
Duty allowance
Wages and salaries
Workmen's compensation
Which of the following is a regulatory issue for the entrepreneur?
Using a credit card to transact business
Offering hire purchase options to customers
Paying national insurance to the government
Advertising the business locally and regionally
Cash used to secure a loan at the bank is referred to as:
collateral
fixed assets
current assets
fixed deposits
The condensed version of the business plan is contained in the:
feasibility plan
marketing plan
keynote summary
executive summary
An analysis of the viability of a business idea and an examination of the different aspects of operating a business is known as a:
business plan
market survey
feasibility study
research proposal
An entrepreneur may reduce his risk of loss by:
planning ahead
securing bank loans
sponsoring community projects
purchasing additional fixed assets
Omari, a teenager, wanted to earn extra income, so he offered to wash cars for $10. Ms Griffith brought her car to be washed. Omari washed the car and Ms Griffith paid him $15. What type of contract is demonstrated in the case above?
Social
Simple
Business
Specialty
A contract may be discharged by:
breach
change of mind
inconsideration
misappropriation
Which of the following factors prevents an agreement from being considered a valid contract?
Consideration
Legal purpose
Misrepresentation
Offer and acceptance
The monthly payments made to an insurance company by its policyholders are known as:
deposits
premiums
instalments
endowments
Which of the following conditions would constitute a linkage between two industries?
Two firms manufacture similar goods.
One firm share the use of machinery with another firm.
Two firms are responsible for the manufacture of different kinds of goods.
The output of one industry of the economy becomes the input of another industry.
Which of the following types of capital is used for the day-to-day operations of a business?
Fixed
Floating
Working
Nominal
To which of the following industries does a firm involved in food processing belong?
Service
Extractive
Construction
Manufacturing
Which of the following results is LEAST likely to occur from growth in an organisation?
Greater productivity
Greater division of labour
Increased communication
Increased capital investment
Productivity can be measured by:
Inputs/Outputs
Inputs/Revenue
Revenue/Outputs
Outputs/inputs
Which of the following businesses may BEST be classified as a cottage industry?
Mary's Craft Supplies, located at home
HMM Superstore, located in a rural area
Peter and John's company, located in Jamaica
People's Cooperative Bank, located in Trinidad
The amount of labour available for productive activity is known as:
employment
labour force
labour movement
efficiency of labour
The BEST medium of advertising for an area of high vehicular traffic is:
posters
magazines
newspapers
point of sale displays
The term 'loss leader' is BEST described as a product which:
has no real market value
the retailer is unable to locate
the retailer gives away to customers
is sold cheaply to attract customers
Product, price, promotion and place are components of a
market study
marketing mix
market research
sales promotion
A situation where a business gains editorial space without having to pay for it is called
publicity
marketing
advertising
discounting
