ASIA BOYS’ COLLEGE ‘TIME: 2 HOURS PRINCIPLES OF BUSINESS FORM: 4BSI, 4BSII END OF TERM EXAMINATIONS JUNE 2012 INSTRUCTIONS TO STUDENTS: ANSWER ALL FOUR QUESTIONS, 1 (@) Define the term ‘market structure’. Gms) (©) State TWO features of EACH of the following types of market structure: @ Perfect competition i) Monopoly (mks) (©) Outline TWO ways in which a monopoly supplier of eellular phones. ‘can influence the price of cellular phones. (6 mks) (@ Discuss THREE reasons why a govemment may intervene in a ‘monopoly market. (mks) (©) Discuss TWO factors that can contibute toa fallin demand for cellular phones in your country. (mks) (@) State THREE benefits « business may receive from advertising its goods or services. (mis) (®) Distinguish between advertising and sales promotion. (mks) (©) Give THREE examples of advertising and TWO of sales promotion.(5 ms) (@) A supermarket awards ten scholarships to students each year for ‘outstanding academic achievement. Discuss TWO benefits, to the supermarket ofthis pubic relations activity. Gms) (@) State TWO reasons why an individual may want to set up a business. (6 mis) (©) Outline THREE ways in which businesses contribute t the development of «community (mis) (©) Deine the ftlowing terms, giving an example of EACH: @ Public sector (Private sector (mks) (@) State TWO reasons why a government may nationalize an industry (4 mks) “Today there isa need to diversify the economies of Caribbean texitries, but the migration of skilled personnel makes tis very difficult” (@ Explain the meaning of the tem ‘diversification’ and ‘migration’ (6 mks) (©) State TWO reasons why skilled workers migrate (ms) (©) Suggest TWO actions that the government of your country can take to discourage the migration of sled personnel mks) (@) Distinguish between the following pais of terms: (Primary prodeccion and tertiary production (Gi) Sebsistence level peadacsion and domestic level production