Economic And Management Sciences Grade 9 June GP 2018 Memo (Eng)

Downloaded from hlayiso.com GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION JUNE 2018 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES MEMORANDUM 10 pages

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION ECONOMIC AND MANAGEMENT SCIENCES MEMORANDUM SECTION A QUESTION 1 1.1 MULTIPLE-CHOICE QUESTIONS 1.1.1 D  1.1.2 B  1.1.3 C  1.1.4 D  1.1.5 A  [10] 1.2 MATCHING ITEMS 1.2.1 D  1.2.2 C  1.2.3 B  1.2.4 F  1.2.5 A  [10] 1.3 WORD SELECTION 1.3.1 asset  1.3.2 source documents  1.3.3 expense  1.3.4 monthly  1.3.5 debit  [10] 1.4 TRUE OR FALSE 1.4.1 True  1.4.2 False  1.4.3 True  1.4.4 False  1.4.5 False  [10] TOTAL SECTION A: 40 2

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION B – THE ECONOMY QUESTION 2 – ECONOMIC SYSTEMS 2.1 A – Planned economy  B – Mixed economy  C – Market economy.  (3) 2.2 Planned economy Advantage Economic equality  Basic needs of citizens satisfied A stable economic system Health care, education and equality are seen as important. Any ONE correct advantage for 2 marks Disadvantage No competition  Poor quality products No profit motive System cannot adapt to change quickly Any ONE correct disadvantage for 2 marks Market economy Advantage Entrepreneurs can start their own businesses, thus creating wealth  Capital is used to start these businesses Businesses are profit-driven Efficient use of resources Any ONE advantage for 2 marks Disadvantage Citizens with access to capital have a advantage  Exploitation of labour can occur Non-profitable goods and services such as healthcare and education are not provided. Any ONE disadvantage for 2 marks (4x2) (8) 3

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 2.3 2.3.1 Increased market size  Free flow of capital  Access to a wider variety of products Free movement of labour Specialisation Free trade between countries Any other TWO correct answers (2x2) (4) [15] QUESTION 3 – CIRCULAR FLOW 3.1 A – Government  B – Households C – Goods and service market D – Taxes E – Public goods and services (10) 3.2 A closed economy does not import or export to or from, other countries.  OR A closed economy does not allow trade with other countries. (2) 3.3 Public schools  Public hospitals and health care. Any other correct or relevant answer (1) 3.4 Consumers would have less disposable income  As they are paying more tax.  As a result, they would have less money to spend. Any other correct or relevant answer (2) [15] 4

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 4 – PRICE THEORY 4.1 D  S  50 40 E  Price(R) 0 30 20 10 0 20 40 60 80 100 Quantity (6) 4.2 R30 (1) 4.3 The quantity supplied increases. (2) 4.4 If the price of a product increases, the demand for that product will decrease.  (2) 4.5 Seasons; ; nature of the product ; ; consumer’s income; buying patterns. Any TWO relevant and correct answers (2x2) (4) [15] TOTAL SECTION B: 45 5

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION C – FINANCIAL LITERACY QUESTION 5 – JOURNALS 5.1 CASH RECEIPTS JOURNAL OF SWEET ʼn SOUR DEALERS – MAY 2018 CRJ1 Analysis Sundry Accounts Doc Cost of Debtors’ Day Details of Bank Sales No. Sales Control Amount Details Receipts CRT 19 Sales 4 200 - - 4 200 - 2 625 - 23 21 W. Saints 2 200 - 6 400 - 2 200 Rent income 22 30 Penny Lee 720 720 720-   (Allocate the mark for doc no and days ONLY if all the doc no and days are correct.) (12) 5.2 CASH PAYMENTS JOURNAL OF SWEET ʼn SOUR DEALERS – MAY 2018 CPJ 1 Doc Trading Sundry Accounts No. Day Name of Payee Bank Stock Equipment Amount Fol Details 61 09 Brookes 9 880 - 3 900 - 4 600 - 1 380 - Packing material Wholesalers    (8) 6

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 5.3 DEBTORS’ JOURNAL OF SWEET ʼn SOUR DEALERS – MAY 2018 DJ1 Doc No. Day Debtor Fol Sales Cost of Sales 36 05 Penny Lee D1 1 200 - 750 -    (6) 5.4 DEBTORS’ ALLOWANCES JOURNAL OF SWEET ʼn SOUR DEALERS – MAY 2018 DAJ1 Doc Debtors’ Day Debtor Fol Cost of Sales No. Allowances CN09 14 Penny Lee D1 480 - 300 -   (5) [31] 7

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 6 – GENERAL LEDGER BALANCE SHEET SECTION GENERAL LEDGER OF POLLY TRADERS DR. BANK B4 CR. Date Details Fol Amount Date Details Fol Amount 2018 30 Total CRJ 19 050 - 2018 30 Total CPJ 16 770 - April Receipts April Payments Balance c/d 2 280 - 19 050 - * 19 050 - 2018 1 Balance b/d 2 280 -  May (*Mark may only be awarded if the amounts are the same.) [5] DR. TRADING STOCK B5 CR. Date Details Fol Amount Date Details Fol Amount 2018 1 Balance b/d 2 465 - 2018 30 Cost of CRJ 7 840 - April April sales 30 Bank CPJ 9 650 - Balance c/d 4 275 - 12 115 - * 12 115 - 2018 1 Balance b/d 4 275 -  May (*Mark may only be awarded if the amounts are the same.) [5] [10] 8

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 7 – ACCOUNTING EQUATION Source Account Debited Account Credited Assets Owner’s Liabilities document Equity Example: Bank Rent Income + 1 000 + 1 000 0 Duplicate receipt Duplicate Debtors Control Sales + 800  + 800 0 invoice  Cost of sales Trading Stock - 500 - 500 0 [9] TOTAL SECTION C: 50 9

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION D – ENTREPRENEURSHIP QUESTION 8 – ECONOMIC SECTORS 8.1 Economic sector Activity Example Primary sector  Extraction of natural and Fishing; farming; forestry; agricultural resources. mining  Secondary Sector Manufacturing activity  Oil Refinery (3x2) (6) 8.2 8.2.1 A – Lisebo Moore : Highly skilled and trained labour  B – Marlvin Seekoei: Unskilled labour  (2x1) (2) 8.2.2 Just like the different sectors of the economy, the different levels of workers are interdependent on each other.  (1) 8.3 Businesses in the primary sector need other businesses to buy their products.  Businesses in the secondary sector need raw materials that the primary sector produce.  Businesses in the secondary sector make finished goods.  Tertiary and secondary businesses are linked to each other and the primary sector. Tertiary sector uses what the secondary sector makes. No business can happen in any other sector if the primary sector does not supply food and water in all sectors. If one is not working properly the others won’t function. (3x2) (6) Any other relevant and correct explanation [15] TOTAL SECTION D: 15 TOTAL: 150 10