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POB CSEc Answers

The document discusses the roles of entrepreneurs, central banks, and commercial banks. It defines an entrepreneur as someone who takes on the risk of starting a new business. Central banks act as the banker to the government and banking system, implementing monetary policy. Commercial banks accept deposits, make loans, and process payments. They provide key services like loans, overdrafts, check systems, safe deposit boxes, and credit cards.

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695 views2 pages

POB CSEc Answers

The document discusses the roles of entrepreneurs, central banks, and commercial banks. It defines an entrepreneur as someone who takes on the risk of starting a new business. Central banks act as the banker to the government and banking system, implementing monetary policy. Commercial banks accept deposits, make loans, and process payments. They provide key services like loans, overdrafts, check systems, safe deposit boxes, and credit cards.

Uploaded by

Juan Haynes
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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2002 Section II

7. (a) An entrepreneur is the owner of a business enterprise who takes on the risk
in establishing a new business.

(b)i. To promote tourism. By encouraging entrepreneurship, entrepreneurs will be


able to market their products worldwide and if the product if of high quality it would
attract foreigners.

ii. So that the country's citizen may benefit from goods and services provided by
businesses

iii. So that it may create jobs for the young citizen. This may encourage them to
not engage in criminal activities since they would be paid a sum of money for their
work as an employee.

(c) i. Initiative

ii. Determination

iii. Responsibility

(d) Two problems an entrepreneur may encounter are

1.

(f) 1. Provide foreign market intelligence

2. Providing an environment that is conducive to economic growth

3. Maintaining competitive markets.

4. Providing subsidies and grants

8. (a) (i) 1. Portable

2. Divisible

(ii) 1. Medium of exchange

2. Measure of value
2007

9. (a) Commercial banks are financial institution that accept deposits, make loans
and handle money transactions by processing payments. On the other hand Central
Banks act as banker to the government and the banking system and acts as he
authority responsible for implementing the Government's monetary fund.

(b) Four types of services provided by the commercial banks are

1. Providing loans and overdrafts to borrowers. Loans given to people by the


bank after a period of time begins to receive interest and therefore the burrower will
have to pay more than he or she borrowed originally. Taking and overdrafts is
putting your bank account into debt.

2.Provision of the cheque system. Makes it possible for easy payments

3. Providing a safe plave for the storage of valubles

4. Providinf a credit card system

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