Which of the following is NOT a function of money?

A post-dated cheque is one which is dated

Which of the following practices are characteristics of a free economy?

I. Private ownership of assets

II. Central planning

III. Freedom of contract

In which department of a manufacturing business would an engineer MOST likely be found?

Which of the following responsibilities must be assumed by the management of a company?

I. Producing goods of a marketable quality

II. Maximizing efficiency and creating surpluses

III. Determining dividends to be paid to shareholders

A hotel gives vouchers for meals to its employees. This form of incentive is BEST described as a

The primary role of the Human Resource Department of a firm is to

Which of the following characteristics are exemplary of a good leader?

I. Inspiring workers

II. Delegating responsibilities

III. Making intelligent decisions

An authoritarian leader is one who

The workers in a large organization are dissatisfied with the working conditions. The trade union representatives’ FIRST likely action will be to

A trait associated with entrepreneurs is

The purpose of a business plan is to

I. measure the performance of the business

II. attract financing for the business

III. provide direction for the business operations

Which of the following factors is LEAST likely to affect the location of a business?

Which of the following pieces of information should be included in a feasibility study?

I. An overview of the business

II. The growth potential of the business

III. The profitability of the business

Which of the following is a regulatory issue for the entrepreneur?

Which of the following situations would occur if a contract for the sale of goods becomes void?

I. The prospective buyer becomes the owner.

II. The prospective buyer does not become the owner.

III. The seller must return any money or goods given to him by the prospective buyer for the transaction.

Which of the following documents should be used to indicate to a business department that supplies of certain goods are needed?

Which of the following describes an essential feature of a valid contract?

Which of the following ways is NOT legitimate for terminating a contract?

‘Capital as a factor of production’ refers to

Primary production is concerned with the

Which of the following are features of a cottage industry?

I. Minimal investment

II. Production of exports

III. Family help

Which of the following is NOT a primary industry?

Which of the following LEAST affects the location of an industry?

Which of the following actions would allow a cigarette manufacturer vertical integration of business activities?

I. Buying a tobacco estate

II. Purchasing a competitor’s cigarette factory

III. Establishing a retail outlet for cigarettes

Which of the following are functions of small firms?

I. The provision of goods and services

II. The offering of personalized services

III. The production of exclusive articles

Which of the following activities carried out in a firm will NOT be under the supervision of the marketing manager?

Which of the following documents gives the name of the ship and full particulars of the shipment of goods?

Which of the following are characteristics of a ‘perfect market’?

I. There are many buyers and sellers.

II. The price of the goods must be fixed by supply or demand.

III. There must be several types of the commodity on sale.

Which of the following BEST describes the term ‘loss leader’?

Which of the following is a MAJOR function of consumer organizations?

Which of the following BEST describes a bill of sale?

A housewife buys meat from a local butcher in her neighbourhood. What type of distribution does this represent?

Advantages of supply chain operations include

I. wealth creation

II. job opportunity

III. better quality life

Which of the following describes planning, implementation, forward and reserve flow of goods and services and related information between two destinations to satisfy customers’ requirements?

Which of the following problems are likely to be encountered in distribution?

I. Spoilage of goods

II. Inadequate warehousing

III. Ineffective communication

The link in the distribution chain that BEST describes the breaking of bulk goods into smaller packages is called

A system of organizing people, activities, information and resources involved in moving a product or service from supplier to customer can BEST be described as

What is the name of the document used as the receipt of goods by an airline carrier and as a contract of carriage between the shipper and the carrier?

Which of the following is a function of a commercial bank?

On which of the following bank accounts is a service fee discharged?

One of the MAJOR functions of a Central Bank is to

From which of the following commercial organizations might any member of the public be allowed to purchase shares?

Tom invests his savings by buying shares in a company. From this investment, Tom expects to receive

A plan for systematic saving and spending is referred to as

Governments establish National Insurance Schemes in order to

The responsibilities of government include the

I. preservation of law and order

II. encouragement and promotion of investment

III. establishment of business enterprises

A government can protect consumers by

I. enacting laws

II. publishing standards

III. prosecuting infringements

Government’s deductions of part of workers’ weekly or monthly salaries is called

Which of the following can be classified as ‘direct taxation’?

I. Tariff

II. Sales tax

III. Land tax

Corporation tax is a/an

Government can encourage business activity by

A quota can BEST be described as a

The Caribbean Development Bank functions PRIMARILY to

Which of the following are MAJOR economic problems facing many Caribbean countries today?

I. High debt burden

II. High levels of unemployment

III. Lack of capital for investment

The term ‘economic dualism’ defines an economy in which one sector

Which of the following indices is the BEST measure of the economic growth of a country?

In a Caribbean country where there is difficulty sourcing capital and raw materials, a MOST LIKELY solution is

Which of the following are the MAJOR arguments in favour of foreign investment?

I. Reduction of local employment

II. Establishment of markets

III. Inflow of capital