Saraswati Vidya Niketan

Vyasa Purnima End of Term Examinations

PRINCIPLES OF BUSINESS – Question Paper - YuvitaJi
Name: ____________________________ Date: Tues, 6th Dec, 2022
Class: Grade 10 D L S Time: 2 hours
Good Luck
Instructions:
This exam consists of FIVE COMPULSORY questions. On this question paper, there will be
TWO of the FIVE questions. The other THREE questions will be provided on the answer sheet.
Read each question here carefully then correspond accurately on the answer sheet and complete.
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QUESTION 1 - Give the correct term for each statement below. (26 marks)

Descriptions
1 Movement from the private sector to the public sector
2 A person or group who has an interest in business
3 This requires two people who want what each other has
4 A cheque made out by the bank on behalf of a customer to allow payment
5 The shares of the profit of a company that are paid out to shareholders
6 Non-financial incentives given to employees
7 Someone who shows vision and creativity and takes risks in setting up a business
8 The action of leading
9 A formal written document setting out the objectives of a business
10 A sum of money to counter the financial loss incurred
11 Moral code of conduct
12 These are bond investments from the government
13 A leader who is expected to organize people, resources and finances by setting up systems in a logical way
14 Encourages employees to work longer hours
15 A legal agreement that is enforceable by law
16 A piece of research to find out whether a business/project will work
17 Cooperative effort of a group of people who are working together to achieve results
18 Laws that set a precedent for future judgement
19 An asset that a borrower provides as security to get a loan
20 Directly relates pay to sales made
21 This cheque can only be paid into the bank account of the payee
22 An official inspection of an individual’s or a firm’s accounts
23 This establishes an obligation on the part of the buyer to pay
24 This principle involves putting someone back into a position that they were in
25 This covers accidents to employees on premises or about company business
26 A principle whereby insurance companies will jointly contribute to the claim for loss.
 QUESTION 2 - Provide answers for the following questions below. (65 marks)

Questions
1. A _______ economy is one in which people simply produce enough to survive on an individual, family or
group basis.
2. State the characteristics of money
3. What are the functions of money
4. The amount that can be spent on a _______ card depends on how much the user has in their account.
5. What is legal tender?
6. What are the main sectors of the economy?
7. What are the types of economic systems and functional areas of a business?
8. State the functions of management.
9. State 2 barriers of communication.
10. What are the main types of contracts?
11. State the characteristics of a valid contract.
12. State 2 ways to discharge a contract.
State:
13. 2 functions of an entrepreneur
14. 3 traits of an entrepreneur
15. 2 roles of an entrepreneur in decision making
16. 2 roles of an entrepreneur in economic development
17. 2 reasons for establishing a business
18. 2 steps in establishing a business
19. 2 reasons for preparing a business plan
20. 2 elements of a business plan
21. 2 primary sources of market research
22. 2 secondary sources of market research
23. 2 regulatory practices by governments
24. 2 factors to consider when deciding a location

END OF THIS PAPER ---- THE OTHER 3 QUESTIONS ARE ON THE ANSWER SHEET.