CSEC Principles of Business (POB) - 2X24 Based Q1-11

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 an example of an unethical business practice?

• Money laundering

• Non-payment of taxes

• Misleading advertisements

• Retrenching inefficient workers

The policies of a company are formulated by its:

• Shareholders

• Managers

• Directors

• Auditors

Which of the following are advantages of a sole trader?

I. Shared profits

II. Ease of set up

III. Flexible working hours

• I and II only

• I and III only

• II and III only

• I, II and III

A MAJOR function of the public sector is to

• Make a profit

• Serve the entire population

• Inspire competition among businesses

• Serve the interest of the shareholder

A laissez-faire leader can be described as one who

• Closely controls the activities of subordinates

• Makes decisions regardless of what subordinates think

• Listens to subordinates and takes a reasonable view of the majority

• Stays in the background and allows subordinates to make their own decisions

Which of the following positions would be BEST suited at 'X'?

• Chief Advisor

• Board of Directors

• Managing Director

• Human Resource Manager

The MAIN purpose of installing a suggestion box in a company is to get workers' views on

• Each other

• Other companies

• Ways of improving the workplace

• Ways of improving economic conditions

Selecting the objectives and the procedures for achieving goals is referred to as

• Planning

• Organizing

• Controlling

• Motivating

Which of the following statements BEST describes the function of a trade union?

• Securing better wages and improving the working conditions for its members

• Calling strikes in order to gain wage increases for its members

• Representing its members at the highest political level

• Improving the standard of living of its members