Economics Grade 9 Gauteng November 2020 Memo (English)

GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION NOVEMBER 2020 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES 8 pages 1

ECONOMIC AND MANAGEMENT MARKING GUIDELINES SCIENCES GRADE 9 SECTION A: ALL TOPICS QUESTION 1 1.1 MULTIPLE CHOICE QUESTIONS 1.1.1 C 1.1.2 B  1.1.3 C  1.1.4 D 1.1.5 A  10 1.2 COMPLETE THE SENTENCES 1.2.1 General Ledger 1.2.2 Quantity supplied  1.2.3 Debtors’ Control 1.2.4 Debited 1.2.5 Production plan 5 1.3 MATCHING ITEMS 1.3.1 F 1.3.2 E  1.3.3 D 1.3.4 H 1.3.5 C  10 TOTAL SECTION A: 25 2

ECONOMIC AND MANAGEMENT MARKING GUIDELINES SCIENCES GRADE 9 SECTION B: THE ECONOMY QUESTION 2: PRICE THEORY 2.1.1 DEMAND AND SUPPLY OF BARS OF SOAP  30 D  S Price (R) 25   E  20  15   10   5   S D 0  10 20 30 40 50 60 Quantity  *Curves must be plotted and drawn correctly in order to receive a mark each. (7) 2.1.2 Equilibrium price: R20  (2) Equilibrium quantity : 30 units  (2) 2.2 If the price of goods and services increase, the quantity supplied will also increase.  If the price of goods and services decrease, the quantity supplied will also decrease. (2) 2.3 True  (1) [14] TOTAL SECTION B: 14 14 3

ECONOMIC AND MANAGEMENT MARKING GUIDELINES SCIENCES GRADE 9 SECTION C: FINANCIAL LITERACY QUESTION 3: JOURNALS AND ACCOUNTING EQUATION 3.1 Cash Receipt Journal of Seven Eleven Supermarket for November 2020 CRJ11 Doc Day Details Fol Analysis Bank Sales Cost of Debtors’ Sundry Accounts no. of Sales Control Amount Fol Details receipts CRR 6 Sales 5 600 5 600  5 600  4 480  541 21 R. Beer 3 200 3 200  CRR Sales 1 500 4 700  1 500 1 200 (6) 3.2 Cash Payment Journal of Seven Eleven Supermarket for November 2020 CPJ11 Doc Day Name of Payee Fol Bank Trading Creditors’ Sundry Accounts no. Stock Control Amount Fol Details 334 25 Popeye Wholesalers 5 670  5 670  335 29 Cash  3 300 3 300 Repairs  (4) 4

ECONOMIC AND MANAGEMENT MARKING GUIDELINES SCIENCES GRADE 9 3.3 Debtors’ Journal of Seven Eleven Supermarket for November 2020 DJ11 Doc no. Day Details Fol Sales Cost of Sales 22 11 R. Beer 3 200  2 560  23 19 M. Dladla 4 000  3 200  (4) 3.4 Creditors’ Journal of Seven Eleven Supermarket for November 2020 CJ11 Doc Day Details Fol Creditors’ Stationery Trading Stock Sundry Accounts no. Control Amount Fol Details 29 17 Popeye Wholesalers 5 670 5 670 (2) 3.5 Accounting Equation No. Account debit Account credit Assets Owner’s Equity Liabilities 3.5.1 Bank  Sales + 5 500 + 5 500 Cost of Sales Trading Stock - 5 000 - 5 000 3.5.2 Trading Stock Creditors’ Control + 6 800 + 6 800 (12) [28] 28 5

ECONOMIC AND MANAGEMENT MARKING GUIDELINES SCIENCES GRADE 9 QUESTION 4: LEDGERS 4.1 Debtors’ Ledger 4.1.1 Frances Lyons  (2) 4.1.2 1 500  (2) 4.1.3 CRJ  (2) 4.1.4 3 700  (2) (8) 4.2 GENERAL LEDGER OF LUTHULI TRADERS Balance Sheet Accounts Section Dr Trading Stock Cr Date Details Fol Amount Date Details Fol Amount 2020 1 Balance b/d 54 305  2020 30 Cost of Sales CRJ 9 500 April April 30 Bank CPJ 10 468  Creditors’ CJ 1 590 Balance c/d 56 863  control  66 363 66 363 2020 1 Balance b/d 56 863  May (7) [15] TOTAL SECTION C: 43 15 6

SECTION D: ENTREPRENEURSHIP QUESTION 5: BUSINESS PLAN 5.1 Hard worker,  shows perseverance, determined (Any ONE for 1 mark. Any other relevant answer) (1) 5.2 She had no customers. (1) 5.3 Strong point: Good quality blankets. (1) Weakness: No knowledge about finances. (1) Opportunity: Expanding to other parts of the country. (1) Threat: Other hawkers, pandemic, lack of customers.  (Any ONE) (1) (4) (Any other relevant answer that can be used to complete a SWOT Analysis for Elvina) 5.4.1 A formal written plan that gives a detailed description of how a business is going to achieve its goals. (2) 5.4.2 Everything about the business is included and gives an overview.  If it is badly written, it will give a negative impression of the business. It creates a first impression of the business and possible successes and opportunities of what is still to come.  (Any other correct, relevant reason for 1 mark) (1) 5.4.3 - Information about the business e.g. owners, what it does. - Production plans. - Marketing plan. - Management plan. (4 x 1) (4) 7

5.5.1 Fixed cost: Rent for storeroom.  (1) Variable cost: Wages. Advertising.  (1) (One of each of the costs for 1 mark each) (2) 5.5.2 The financial plan is important because no business that is not financially feasible will survive. The financial plan gives a business the opportunity to show that the business is financially well planned and financially viable.  (Any other relevant and correct opinion on why it is important, for 3 marks) (3) 18 TOTAL SECTION D: 18 TOTAL: 100 8