Economic And Management Sciences Grade 9 P2 2023 Memo (Eng)

Downloaded from hlayiso.com PROVINCIAL EXAMINATION JUNE 2023 GRADE 9 MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES: THE ECONOMY AND ENTREPRENEURSHIP PAPER 2 6 pages

Downloaded from hlayiso.com MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES (PAPER 2) GRADE 9 SECTION A: ALL TOPICS QUESTION 1 1.1 MATCHING ITEMS 1.1.1 C – Global market  1.1.2 A – Mixed economy  1.1.3 B – Market  1.1.4 D – Tertiary sector  1.1.5 F – Circular flow model  5 1.2 FILL IN THE MISSING WORD/S 1.2.1 primary  1.2.2 profit  1.2.3 Equilibrium  1.2.4 limited resources  1.2.5 capital  5 TOTAL SECTION A: 10 10 2

Downloaded from hlayiso.com MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES (PAPER 2) GRADE 9 SECTION B: THE ECONOMY QUESTION 2: ECONOMIC SYSTEMS 2.1 Mixed economic system  (1) 2.2 2.2.1  Free movement of capital stimulates growth in poor countries and creates jobs.   It gives consumers a large number of imported products to choose from.  (Any other relevant answer.) (1) 2.2.2  Globalisation has impacted on the culture of many people.   Globalisation has led to people wearing the same type of clothes and eating the same kind of food due to international marketing. (Accept any other relevant and correct answer.) (2) 2.3  It aims at making business profit.   Entrepreneurs decide what goods to produce.  Workers and businesses make money from producing goods.  (Any TWO of the above for 2 marks each. Accept any other relevant and correct answer.) (4) [8] 8 3

Downloaded from hlayiso.com MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES (PAPER 2) GRADE 9 QUESTION 3: CIRCULAR FLOW 3.1 A – Business  B – Goods market  C – Selling goods and services  D – Pay taxes  E – Selling of factors of production  (5) 3.2  Government buys the goods and services produced by business and pays them the agreed price.   Government collects taxes from the business which they use to improve the country’s services, such as infrastructure. (Any other correct and relevant answer.) (2) 3.3 VAT  Custom duties Excise tax (Sin tax) (Any other correct and relevant answer.) (1) [8] 8 4

Downloaded from hlayiso.com MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES (PAPER 2) GRADE 9 QUESTION 4: PRICE THEORY 4.1 Demand and Supply for Fanta Berry D S 25 20  Price 15 E 10 5 S D 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 Quantity (6) 4.2 R15  (1) 4.3 The law of supply states that the lower the price of the product, the lower the quantity supplied, and the higher the price of a product, the higher quantity supplied.  (2) [9] 9 TOTAL SECTION B: 25 5

Downloaded from hlayiso.com MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES (PAPER 2) GRADE 9 SECTION C: ENTREPRENEURSHIP QUESTION 5: SECTORS OF THE ECONOMY 5.1 Picture A – Primary  Picture B – Tertiary  Picture C – Secondary  (3) 5.2 Primary sector – extracts raw materials from nature.  Secondary sector – changes raw material into finished goods.  Tertiary sector – services business such as banking, transport etc.  (Any other correct and relevant answer.) (6) 5.3 The primary sector needs machinery from the secondary sector  to extract raw materials from nature, the secondary sector needs raw materials to manufacture goods.  The tertiary sector needs the manufactured goods from the secondary sector to sell.  (Any other correct and relevant answer.) (6) [15] 15 TOTAL SECTION C: 15 TOTAL: 50 6