CXC CSEC exam guide: Principles of Business (POB) Based on the CXC CSEC Principles of Business (POB) syllabus

Organization of the CXC CSEC Principles of Business (POB) exam: In-school exam candidates: The general proficiency exam consists of two (2) papers and a School Based Assessment (SBA) project. Private exam candidates: The general proficiency exam consists of three (3) exam papers.

Paper Exam time

paper 1 1hr 15 mins

Question type

Exam marks

Exam percent

Multiple choice (60 questions) Testing the three profile dimensions

60 marks

30%

Paper 2 2 hours A structured essay paper consisting of seven (7) questions divided into two (2) sections. Section A: 3 compulsory questions from section 1, 2, 5, 6 and 7 of the syllabus Section B: 4 questions, 2 questions from section 1-8 and 2 questions from section 8-10. Candidates will be required to answer 2 questions from this section. Candidates must answer all 3 questions from section A and 2 out of the 4 questions from section B. Each question will be worth 20 marks. Questions on section A contribute 60 marks and questions on section B contribute 40 marks.

100 marks

50%

SBA

A School Based Assessment (SBA) component covering the profile dimensions of the syllabus. 40 marks 20%

Paper 3

1 hr A case study for private candidates only.

40 marks

20%

Total

200 marks

100%

The syllabus for the CXC Principles of Business exam is divided into three (3) profile dimensions. Each profile dimension is comprised of several sections.

The three profiles dimensions are profile 1, 2 and 3.

Profile dimension Section 2. Internal Organizational Environment 3. Establishing A Business 4. Legal Aspects of Business top 2. Production, Marketing and 5. Production Finance 6. Marketing 7. Business Finance top 3. The Business Environment 8. The role of Government in an Economy 9. Social Accounting and Global Trade 10. Regional and Global Business Environment top

1. Organizational Principles 1. The Nature of Business

Profile 1: Organizational Principles Section 1: The Nature of Business

SPECIFIC OBJECTIVES The students should be able to: 1. Explain terms and concepts related to business

Definition and explanation of the following terms and concepts:

enterprise, entrepreneurship barter, profit, loss, trade, organization, economy, producer, consumer exchange, goods, services, market, commodity, capital, labour, 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:

bills of exchange, credit cards, electronic transfer, tele-banking and e-commerce

3. State reasons why an individual may want to establish a business 4. Describe the various forms of business organizations and arrangements Forms of business organizations and arrangements: definition, formation and management of: sole trader, partnerships, co-operatives, companies (including conglomerates and multi-nationals) franchises state corporations and nationalized industries local and municipal authorities, government departments, concept of private and public sectors

5. Differentiate among the different economic systems

Types of economic systems Traditional (subsistence) Command or planned (socialist) Free of capitalist 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 theough the provision of goods and services

9. Describe the role of business within a community

Economic, financial, social, political and ethical