CARIBBEAN SECONDARY EDUCATION

CERTIFICATE 2023

PRINCIPLES OF BUSINESS
SCHOOL-BASED ASSESSMENT

AN INVESTIGRATION INTO THE RISING PETROL PRICES

YEAR OF EXAM: 2023

CANDIDATE NAME:

CANDIDATE NUMBER:

CENTRE NAME:

CENTRE NUMBER:

Name of teacher: Mr. Vanveen

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 TABLE OF CONTENT

Content Page

Introduction……………………………………………….3

Acknowledgement …………………………………….....4

Title Page…………………………………………………5

Objectives of Project……………………………………...6

Background/Overview……………………………………7

Methodology………………….……………………..........8

Limitation…………………………………………………9

Questionnaires Sheet……………………………………..10-12

Presentation of data………………………………………13-15

Analysis and Interpretation……………………................16-18

Findings…………………………………………………..19

Recommendation………………………………………...20

Conclusion………………………………………………..21

Bibliography………………………………………………22

Appendix……………………………………………........23-25

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 INTRODUCTION

In this School Based Assessment, the researcher wishes to determine the effect of increasing petrol prices

on public transportation industry. The public transportation industry is the biggest transport industry in

the researcher’s country so it would be very informational on what the effect of increasing petrol prices

has. This topic will not only affect the public transport operators but also the commuter of this type of

transportation. The prevailing circumstances surrounding the constant increase of petrol price and the

impact it has on public transportation and the economy is the main cause of this research.

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 ACKNOWLEDGEMENT

This School Based Assessment would not have been completed if not for the help of a number of persons.

I, the researcher would like to thank all of the respondents of the questionnaire for their great support in

taking the time to answer it. The members of my family have been a constant support to me during the

time taken to complete the SBA. I would like to thank my parents for supporting us in the research.

Finally, I give special thanks to my Principles of Business subject teacher for all of his guidance and

assistance.

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 TITLE PAGE

An investigation of rising fuel prices and its impact on public transport providers

CANDIDATE NAMEs:

CANDIDATE’S NUMBERs:

CENTRE NAME:

CENTRE NUMBER:

Name of teacher: Mr. Vanveen

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 TITLE OF PROJECT:

An investigation on the impact of rising fuel prices on public transportation providers

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 OBJECTIVES OF PROJECT

1. To investigate the effects on the standard living of persons as a result of increase petrol prices.

2. To identify government measures instituted to assist operators of public transportation.

3. To ascertain if increase petrol price will deter persons from using public transportation services.

4. To determine if there is a constant period during the year when the price of petrol increases.

5. To identify the preferred fuel of drivers and the reasons for their choice.

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 BACKGROUND/OVERVIEW

The increasing of petrol price will have a significant impact on the operators of public transportation

because as the price of petrol increases the operators would have to increase the transportation cost for the

route that they are taking. The operators take into account the cost they previously paid compared to the

new increase. The operators see the ripple effect that will take place because of the increase in petrol price

they will have to increase the transport price. This is so because their normal expenses such as the

servicing of their vehicles, the utilities, payment of their conductors etc. As a result, their own net worth

will be at a decrease.

Public transportation is a form of travel that facilitates groups of people generally going in the same

direction. This form of transportation usually runs on a schedule or on a full capacity basis. Public

transportation is cheaper compared to private transportation because instead of on person paying the

transport fee, a group of people are paying. The usual types of public transportation found are buses,

trains, taxies, airlines etc. Public transport can also be affected by the increase of petrol prices. Petrol

prices can affect the standard of living of the operators of this type of transportation.

Public transportation in the researcher is of full capacity base where they wait at bus parks for the

passengers, or the operators travel their route and collect passengers on the way. Each bus park has a

number such as 44, 45, 50 these numbers indicate the area the bus is going in such as Georgetown to

Mahaica. Transportation differs from location to location as passenger don’t always go to the bus’s last

stop. This method is used widely because it is cheap and usually fast.

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 METHODOLOGY

Primary Information:

The researcher utilized the use of questionnaires; with this the researcher was able to gather primary data.

A total of 15 questionnaires containing 23 closed ended and open-ended questions were distributed at

random to public transport operators within Georgetown. The questionnaires were distributed on 14th

December and collected on 20th January 2023. Most questionnaires were returned but a few had to be

reprinted and redistributed because of misplacement or damage.

Secondary Information:

Secondary information was collected by the use of online articles, textbooks, newspapers etc

This method was used for the following reasons:

 Inexpensive

 Time efficient

 Results are easy to analyze and interpret

 Respondents are anonymous

LIMITATIONS

The limitations encountered by the researcher included:

 The main problem faced in this research was questionnaire due to the fact that many
questions were left out. This issue was resolved by subject teacher.
 The personnel were not available at the researcher’s convenience thus resulting in a delay
in the collection of data
Questionnaires were collected in a convenient time.
 Incorrect records were received and recorded

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 QUESTIONNAIRE

1. Which brand of petrol do you consume?

o Guy oil
o SOL/Shell
o Rubis Oil

2. What is the average quantity of fuel consumed per day?

o 1-5 liters
o 6- 10liters
o 11-15 liters
o 15 and above

3. How has the increase in public transportation cost impacted your standard of living?
o Positive
o Negative

4. Kindly state two positive or negative impact of the increase fuel prices on your budget.

………………………………………………………………………………………………………
……………………………………………………………………………………………

5. By what percentage, has increased fuel prices impacted your operations?

o 1-10%
o 11-20%
o 21-30%
o 30 and above

6. Are vehicle parts more expensive at present than they were one year ago?
o Yes
o No

7. What mode of transportation do you use?

o Private vehicle
o Bus only
o Taxi only
o Buses and taxis

8. What is your category of employment?

o Private sector
o Public sector
o Self employed
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 o Currently unemployed

9. What is your average income per month?

o Under $85,000
o $40,000-$60,000
o $70,000-$100,000
o $100,000 and above

10. On average what is the amount spent on public transportation per week?
………………………………………………………………………………………………………
……….

11. On average what fraction of your income has spent on transportation per month prior to there
being an increase in fuel prices
o Below 10%
o 10-20%
o 21-30%
o 35-40%
o 45% and above

12. In what way have you adjusted your spending to cater for increases or decrease in gas prices?

………………………………………………………………………………………………………
………………………..

13. As a consumer of fuel, which of the following factor do you perceive contributes to an increase in
the fuel prices?
o Aquation cost
o Reduce production levels on the international market
o Customs duty charged
o High depends within the local market

14. Do you agree that an increase in investment opportunities contributes to high fuel prices?
o Strongly agree
o Disagree

15. Would an influx of additional petrol retailers contribute to a reduction in fuel prices?

………………………………………………………………………………………………………
…………………………

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 16. Would you support the notion that the increase of motor vehicles within our economy contributes
to a rise in fuel prices?
o Yes
o No

17. Does the price of petrol rise more in the summer?

………………………………………………………………………………………………………..

18. Why do you think the price of petrol raise during a specific time of the year?

………………………………………………………………………………………………………
…………………………

19. Do you personally think raising the price of petrol during that period of time is good or bad for the
economy? State the reason for your answer.

………………………………………………………………………………………………………
……………………………

…………………………………………………………………………………………..

20. How do you view the operators of public transport providers?

o Efficient
o Very Efficient
o Inefficient

21. Will an increase in petrol prices deter people from using public transportation?
o Yes
o No
22. Do you agree that price increases for public transportation use is acceptable when ever there is an
increase in fuel prices?
o Strongly Agree
o Disagree
o Agree
23. Which of these do you think would be a reason for the rising of petrol prices?
o High crude oil prices
o Elevated tax Levels
o Natural gas became expensive

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 PRESENTATION OF DATA

Question


Pie chart show fracti on of income spent

permonth prior to an increase in fuel
prices
10-20%
20%

45% and above

47%

21-30%
13%

35-40%
20%

10-20% 21-30% 35-40% 45% and above

Question


Pie chart showing responses for if an

increase of motor vehicles contribute
to an increase in fuel price

No
27%

Yes
73%

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Yes No
Question


Bargraph showing if an increase in

petrol prices will deter people
from using public transportati on
10
9
8
number of responses

7
6
5
9
4
3 6
2
1
0
Yes No
options

Series1

Question


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Question


Bargraph show the number of

responses to the percent that
fuel prices impacted operati ons
35%

30%

25%
percent OF RESPONSES

20%

15%

10%

5%

0%
1-10% 11-20% 21-30% 30% and above
PERCENT THAT FUEL PRICES IMPACTED OPERATIONS

Question


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 Bargraph showing factors that con-
Factors that contribute to an increase in fuel price

tribute to an increase in fuel prices

with responses
High depends within the local market

Customs duty charged

Reduce production levels on the international market

Aquation cost

0% 10% 20% 30% 40% 50% 60%

percentage of responses

ANALYSIS & INTERPRETATION OF DATA

As to what brand of petrol the respondents consume are as follows. 6 replied Guy oil, 5 replied SOL/Shell

and 3 replied Rubis oil. This data shows that 40% of respondents prefer Goy oil, 40% also prefer

SOL/Shell while only 20% only prefer Rubis oil. Rubis oil is consumed 20% less than both Guy oil and

SOL/Shell. The average consumption quantity of fuel by the respondents are, 4 replied 1-5 liters, 9

replied 6-10 liters, 2 replied 11-12 liters and none consume 15 liters and above. The responses show that

majority of the respondents consume between 1-10 liters of fuel per day while none of the consume 15

liters and above. The standard of living of the respondent after an increase in petrol prices, were taken

into consideration and the responses are as follows, 15 replied Negatively. This show that 100% of

respondents believe that their standard of living was affected by an increase in petrol prices.

The positive and negative impact of increased petrol prices on respondent were all basically the same for

majority of the respondents. These were, for the positive impacts, 40% replied increased transportation

fee and 60% replied extra money if transportation price increased. For negative impacts, 65% replied less

money if transportation fee did not increase and 35% replied longer working days in order to make a

day’s quota. Of the 15 respondents on the questionnaires about the impact of increased fuel prices on

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their operations 3 replied 1-10%, 4 replied 11-20%, 5 replied 21-30% and 3 replied 30% and above. This

data shows that the operations of the public transport operators significantly. This is show by 33.333% of

the respondents had a 21-30% impact to their operations. As to whether vehicle parts are more expensive,

the responses were,7 replied yes and 6 replied no. One of the respondent’s indicated that vehicle parts

only seem more expensive because there is less money to spend.

As to what mode of transportation the respondents use, the responses are as follows 1 replied private

vehicle, 7 replied buses only, 2 replied taxi only and 5 replied buses and taxies. This data shows that 47%

of respondents are bus only operators. The respondent category of employment are as follows 1 replied

private sector, 7 replied public sector, 7 replied that they are self-employed and none replied currently

unemployed. This data how that 47% of respondents work in the public sector and 46% are also self-

employed. The average income per month for the respondents are, 3 replied under $85,000, 3 replied

$40,000-$60,000, 5 replied $70,000-$100,000 and 4 replied $100,000 and above. The following data

shows that majority of respondents make between $70,000-$100,000 per month.

The average amount spent on public transportation per month is 100% replied $10,000-$25,000. This

indicates that the respondents use between $2,000-$5,000 a day during a given week. Responses from the

questionnaire on the fraction of income spent on transportation per month prior to the increase in petrol

prices are as follows, 3 replied 10-20%, 2 replied 21-30%, 3 replied 35-40% and 7 replied 45% and

above. This data shows that majority of the operator spent an average of 45% less on transportation per

month prior to an increase in petrol prices. The ways the respondents have adjusted their spending for an

increase and decrease in petrol prices are as follows, for an increase 45% of respondents replied,

55%reduce excessive purchasing, and for a decrease, 63% replied less burden so they can buy things such

as vehicle parts, and 37% replied full gas tank and other smaller things for their vehicles.

The respondents indicated that the factor that they perceive contributes to an increase in petrol prices are,

3 replied aquation cost, 8 replied reduce production levels on the international market, 2 replied customs

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duty charged and 2 replied high depends within the local market. This data can be taken as that 53.333%

of the respondents believed that reduce production levels on the international market was the main cause

of an increase of petrol price. As to whether or not increased investment opportunities contribute to an

increase of petrol prices the responses by the respondents are as follows, 8 replied strongly agree and 7

replied disagree. This data shows that 53% of respondents strongly agree while 41% disagree. The

respondents’ responses to whether additional petrol retailers contribute to a reduction in fuel prices. The

responses are as follows, 9 replied yes and 6 replied no. This shows that 60% replied yes and 40% replied

no.

Responses to the notion that an increase in motor vehicles within our economy contributes to a rise in fuel

prices are as follows, 11 replied yes and 4 replied no. The responses to this show that 73.3% believe that

is a major contributor to an increase in petrol prices. As to whether petrol prices raise in the summer

100% of respondents replied no. 100% of respondents indicated that petrol prices increase in a specific

time of the year because of supply and demand and when there is a shortage in petrol.

The responses for whether the raising of petrol prices in a specific time of the year is good or bad for the

economy, 100% of respondents indicated that it’s bad because individuals will have to reorganize their

budget. Respondents responded to the efficiency of public transport providers the responses are as

follows, 7 replied efficient, 4 replied very efficient and 4 replied inefficient. This data shows that 46% of

respondents believe that public transport providers are efficient while very efficient and inefficient both

have 27% each. To ascertain if an increase in petrol prices will deter people from using public

transportation the respondents were asked to for their responses. The responses are as followed, 9 replied

yes and 6 replied no. This shows that 60% of respondents believe that people will be deterred from using

public transportation.

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Responses from the respondents for should the public transportation price increase when there is a petrol

price increase, the responses are as follows, 10 replied strongly agree, 1 replied they disagree and 4

replied they agree. As to what is the reason for the rising petrol prices the respondents’ responses are as

follows, 8 replied high crude oil prices, 4 replied elevated tax levels and 3 replied natural gas became

expensive. This data shows that 53% of respondents blame high crude oil prices for the raising petrol

prices while 27 blame elevated tax levels and 20% blame natural gas becoming expensive.

FINDINGS

The researchers revealed several significant findings some of which are:

1. Increase fuel prices do have a negative impact in the standard of living of citizens. The revaluation
is that raising fuel prices increases consumer expenditure thus reducing their savings.

2. A large proportion of respondents reveal that mini-buses are their primary means pf transportation
since it is cheaper and cost effective.

3. Many respondents indicated that their average monthly income ranges between $70,000-$100,000
and if this $10,000-$25,000 are expended on travel via public transportation.

4. An overwhelming majority of the respondents has indicated that raising petrol prices is bad for the
economy since it forces the cost of public transportation upwards, thud making it unaffordable for
many

5. Another revaluation of the research is that a reduction in the production levels of oil on
international market was the main cost for an increase in petrol prices.

6. Many respondents indicated that an increase in motor vehicles within our economy contribute to
the rise in fuel prices.

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 RECOMMENDATIONS

A recommendation that the researchers would contribute is that the government can provide subsidies for

the citizens of the community who cannot afford the cost of travelling by public transportation since

whenever the price of petrol rises, operators tend to increase their fares for travelling. Therefore, the

government’s assistance, through subsidization of petrol should ease the burden on the pockets of

commuters.

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 CONCLUSION

In conclusion, the investigation has been done successfully. The researchers have achieved their aims in

this assessment in acquiring knowledge about the raising of petrol prices and how it affects persons using

public transportation, it’s transactions and business’s status.

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 BIBLIOGRAPHY

https://www.livemint.com/Opinion/K0y5UVp26atuVWJdSyUiDM/Opinion--High-petrol-prices-can-
fund-public-transport.html

https://www.sciencedirect.com/sciencedirect.com/science/article/abs/pii/S2212095514000674

https://www.slideshare.net/khimransurjan96/pob-sba

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 APPENDIX

Picture of Bus Park Visited

Picture of Answered Questionnaire

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Picture of Unanswered Questionnaire

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 MARK SCHEME FOR SCHOOL-BASED ASSESSMENT

PROJECT AREAS PROFILE DISTRIBUTION Total

Knowledge and Application Interpretation
Comprehension and Analysis
Table of Contents 1 1
 Table of contents accurately links pages to
content – 1 mark (KC)

Topic/Issue/Problem 2 2
 Topic/issue/problem is clearly stated
– 1 mark (KC)
 Topic/issue/problem accurately describes the
project – 1 mark (KC)

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Objectives 2 2
 Objectives are clearly stated and linked to the
topic/issue/problem – 1 mark (A)
 Objectives are realistic – 1 mark (A)

Background/Overview 4
 Includes a description of the
topic/issue/problem
- Description includes the history
1
– 1 mark (KC)
-Description includes the development
- 1 mark (KC) 1

 Establishes the need for research

- Why/how is the topic/issue/problem 1
important to student – 1 mark (A)
-Impact of topic/issue/problem on society
1
– 1 mark (A)
Methodology 9
 Data collection instrument clearly described – 2
1–2 marks (KC)
 Data collection instrument appropriate for
type of data – 1 mark (A) 1
 Included at least two instruments of data
collection – 1 mark (A) 0
 Method of data collection clearly described
– 1–2 marks (A) 2
 Method of data collection adequately
justified – 1–2 marks (IA) 2
 Limitations of data collection method clearly
stated – 1–2 marks (A) 2

PROJECT AREAS PROFILE DISTRIBUTION Total

Knowledge and Application Interpretation
Comprehension and Analysis
Presentation and Analysis of Data 8
 Data is presented an appropriate form using
tables, charts, graphs 2
– 1–2 marks (KC)
 Data presented are relevant to the
2
objectives of the project – 1–2 marks (A)
 Data is adequately analyzed
– 1–2 marks (A) 2
 Data is analysed using appropriate
statistics – mean, median, mode
– 1–2 marks (IA) 0
 Findings are consistent with analyses
– 1–2 marks (IA) 2

Conclusion 4
 Conclusion succinctly summarises the 2

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 project – 1–2 marks (A)
 Conclusion is logical and based on 2
findings – 1–2 marks (A)

Recommendation 4
 Recommendations are realistic and informed by 2
findings – 1–2 marks (IA)
 Recommendations contribute to a better
understanding of the 2
topic/issue/problem –1–2 marks (IA)
Bibliography 1
Bibliography contains names of authors, name of
publisher(s), names and dates of publication, and are
written in alphabetical order – 1 mark (KC)
1
Overall presentation 2
 Consistently uses correct spelling and 1
grammar – 1 mark (A)
 Expression of ideas logical and 1
 unambiguous – 1 mark (A)

TOTAL 10 20 10 40
STUDENT’S Marks 10 19 8 37

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