Economic And Management Sciences Grade 9 Gauteng June 2019 QP

Downloaded from hlayiso.com testpapers.co.za GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION JUNE 2019 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES TIME: 90 minutes MARKS: 150 12 pages P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 2 SCIENCES GRADE 9 GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION ECONOMIC AND MANAGEMENT SCIENCES TIME: 90 minutes MARKS: 150 INSTRUCTIONS AND INFORMATION: 1. This question paper consists of SECTION A, SECTION B, SECTION C and SECTION D based on the prescribed content framework in the CAPS document. SECTION A: ALL TOPICS QUESTION 1.1: Multiple Choice (10) QUESTION 1.2: True or False (10) QUESTION 1.3: Word Bank (10) QUESTION 1.4: Matching Items (10) [40] SECTION B: THE ECONOMY QUESTION 2: Economic systems (15) QUESTION 3: Circular flow (Diagram) (15) QUESTION 4: Price Theory (Graph) (15) [45] SECTION C: FINANCIAL LITERACY QUESTION 5: Journals and Accounting equation (38) QUESTION 6: General ledger (6) QUESTION 7: Trial Balance (6) [50] SECTION D: ENTREPRENEURSHIP QUESTION 8: Economic Sectors (15) [15] 2. All questions are COMPULSORY. 3. When answering questions, candidates must apply their knowledge, skills and insight. 4. Answer all questions (Section A – D) in the ANSWER BOOK provided. 5. Write neatly and legibly. 6. The use of a non-programmable and non-graphical calculator is permissible. P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 3 SCIENCES GRADE 9 SECTION A QUESTION 1 1.1 MULTIPLE-CHOICE QUESTIONS Various options are provided as possible answers to the following questions. Choose the correct answer and write only the letter (A – D) next to question number (1.1.1. – 1.1.5) in the ANSWER BOOK provided. 1.1.1 J & R Stores sells denim jeans which they purchased for R600 each at a 35% mark-up on cost price. Calculate the selling price. A R 450 B R 810 C R 959 D R1 210 (2) 1.1.2 A country’s … dictates how resources are allocated. A global economy B capital economy C economic system D mixed economy (2) 1.1.3 Purchased stationery from DL Stationers and paid by cheque, R250. Select how the transaction will be posted in the General Ledger. A Dr Bank 250 ; Cr Stationery 250 B Cr Stationery 250 ; Cr Bank 250 C Dr Bank 250 ; Dr Stationery 250 D Dr Stationery 250 ; Cr Bank 250 (2) 1.1.4 The decisions consumers make about what products to buy is largely dependent on their … for goods and services. A demand B supply C price D fashion (2) 1.1.5 In the … sector wheat is used to make flour and flour is used to make goods like bread. A primary B foreign C secondary D tertiary (2) [10] P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 4 SCIENCES GRADE 9 1.2 TRUE OR FALSE Indicate whether the following statements are TRUE or FALSE. Write only ‘True’ or ‘False’ next to the question number in your ANSWER BOOK. 1.2.1 In the Cash Receipts Journal, bank is credited while all the other accounts are debited. (2) 1.2.2 Consumers have the right to fair value and good, safe products. (2) 1.2.3 In an open economy there are no exports or imports. (2) 1.2.4 A country’s economic sector influences the way in which the economic activities are organised and how businesses operate. (2) 1.2.5 Some businesses have elements of all the sectors in the production process. (2) [10] 1.3 WORD BANK Complete the following statements by selecting the correct word from the word bank below. Write down only the correct word in the ANSWER BOOK. National Credit Act; sales; advertising; skilled; labour; inverse 1.3.1 … market is the place where the employer and employee come into contact. (2) 1.3.2 If there is no …, consumers demand less of the product. (2) 1.3.3 The … prevents businesses from granting easy credit to customers who then struggle to pay the debt later. (2) 1.3.4 When a business sells goods to D. Josh on credit, Debtors’ Control is debited and … is credited. (2) 1.3.5 Manufacturing and construction industries may need … artisans. (2) [10] P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 5 SCIENCES GRADE 9 1.4 MATCHING ITEMS Match the description in Column B with the terms in Column A. Write only the correct letter (A – F) next to question number (1.4.1 – 1.4.5) in the answer book. COLUMN A COLUMN B 1.4.1 Invoice A A list of all the General Ledger accounts with their balances or totals 1.4.2 Factor market B When selling on credit the original document is 1.4.3 Resources handed to the customer and the business keeps the duplicate. 1.4.4 Trial balance C All economic decisions are made by private 1.4.5 Market economy individuals. D A place where the factors of production are bought and sold E Energy, water and raw materials F A table that lists the goods and services which consumers are willing to buy at different price levels [10] TOTAL SECTION A: 40 P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 6 SCIENCES GRADE 9 SECTION B THE ECONOMY QUESTION 2 – ECONOMIC SYSTEMS 2.1 Define the term economic problem. (2) 2.2 Study the pictures below and identify the economic systems represented by picture 2.2.1 and picture 2.2.2. 2.2.1 2.2.2 [Source: www.flyloops.net] [Source: Qph.fs.quoracdn.net] (2 x 1) (2) 2.3 List ONE characteristic of a market economy. (2) 2.4 Discuss TWO disadvantages of a planned economy. (4) 2.5 Explain why mixed economies were formed. (2) “Globalisation has led to the creation of a global economy in which the economic activity of different countries affects one another”. 2.6 Discuss ONE problem linked to the global economy. (2) 2.7 In a planned economy, the … takes full responsibility for solving the economic problem. (1) [15] P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 7 SCIENCES GRADE 9 QUESTION 3 – ECONOMIC CYCLE Study the following circular flow diagram before answering the questions. Households Factor market Government (A) Businesses 3.1 Identify the missing information (A – E) from the diagram above. (6) 3.2 Explain the flow of A from businesses to households. (2) 3.3 List the FOUR factors of production. (4 x 1) (4) 3.4 Discuss the role of the government in a closed economy as depicted in the circular flow diagram above. (2) 3.5 Households receive income in the form of … (1) [15] P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 8 SCIENCES GRADE 9 QUESTION 4 – PRICE THEORY Julie sells pancakes every morning at JK Primary school. She also sells a variety of warm drinks to the learners and teachers of the school. [Image source: i.pinimg.com] Study the following schedule for PANCAKES and answer the questions that follow. MARKET DEMAND AND SUPPLY SCHEDULE FOR PANCAKES PRICE QUANTITY QUANTITY (R) DEMANDED SUPPLIED 10 850 150 15 650 250 20 450 450 25 250 650 4.1 Use the above schedule to draw a demand and supply curve on the same axis and label it. (7) 4.2 The point where the demand and supply curves meet is known as the … point. (2) 4.3 Calculate the price and quantity at the point identified in question 4.2. (2) 4.4 Discuss the Law of Supply. (2) 4.5 Explain ONE factor that can influence the demand for pancakes. (2) [15] TOTAL SECTION B: 45 P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 9 SCIENCES GRADE 9 SECTION C FINANCIAL LITERACY QUESTION 5 – JOURNALS AND ACCOUNTING EQUATION You are provided with the transactions from the books of Sandy Jewellers for the month of February 2019. Sandy Pam, the owner, sells goods for cash and on credit. She adds a mark-up of 60% on cost price for all goods. REQUIRED TO DO: Use the information provided to record the transactions in the following journals: 5.1 Cash Receipts Journal with analysis columns for Analysis of Receipts; Bank; Sales; Cost of Sales; Debtors’ Control and Sundry Accounts. (12) 5.2 Cash Payments Journal with analysis columns for Bank; Trading Stock, Equipment and Sundry Accounts. (7) 5.3 Debtors’ Journal with columns for Sales and Cost of Sales. (6) 5.4 Debtors’ Allowances Journal with columns for Debtors’ Allowances and Cost of Sales. (6) 5.5 Show the effect of transaction 24 on the accounting equation. (7) IMPORTANT: Do not close off the journals on 28 February 2019. TRANSACTIONS FOR FEBRUARY 2019 FEB 02 Sold 4 pairs of earrings and a watch for cash and received R13 280. (CRT11) 04 Issued invoice 61 to D. Poole for R9 400 for the 2 watches that he bought on his account. 16 Issued cheque 101 for R28 800 to Cipro Jewellers in payment of jewellery purchased for cash. 21 D. Poole returned 1 watch worth R4 600 as it was faulty. Issued credit note 2. 24 Issued a cheque for R1 900 to Telkom to pay for business’ telephone account of R1 080 and the rest for the owner’s home telephone account. 27 Received a cheque from D. Poole in full settlement of his account to date. Issued receipt no.83. Received R6 200 from M. Saint, a tenant, in payment of March rental. [38] P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 10 SCIENCES GRADE 9 QUESTION 6 – GENERAL LEDGER You are supplied with the completed journals of Silver Stores for March 2019. REQUIRED TO DO: 6.1 Post the completed cash journals to the Trading Stock account in the General Ledger. 6.2 Balance the account at the end of March 2019. Balance on 1 March 2019: R 29 860 [6] CASH RECEIPTS JOURNAL OF SILVER STORES – MARCH 2019 CRJ 3 Cost Sundry Account Doc Analysis of Day Details Fol Bank Sales of No. Receipts Amount Fol. Details Sales 39 860 - 21 530 - 17 221 - - 18 330 B3 N1 N2/B5 CASH PAYMENTS JOURNAL OF SILVER STORES – MARCH 2019 CPJ 3 Doc Name of Trading Sundry Account Day Fol Bank Wages No. Payee Stock Amount Fol Details - 28 940 - 16 930 - 6 600 - 5 410 B3 B5 N3 P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 11 SCIENCES GRADE 9 QUESTION 7 – TRIAL BALANCE The bookkeeper of Mzansi Traders prepared the Trial Balance below and omitted some information from the financial records for April 2018. REQUIRED TO DO: Take the following information into account and record the missing information in the Trial Balance. 7.1 The owner increased his capital contribution from R 100 000 to R 176 800. TRIAL BALANCE OF MZANSI TRADERS ON 30 APRIL 2019 Fol Debit Credit Balance Sheet Accounts Section Capital ? Drawings 18 990 - Bank 41 370 - Trading Stock 32 440 - Debtors’ Control 16 300 - Nominal Accounts Section Sales ? Cost of sales 46 800 Packing material 3 220 Rent income 12 120 ? ? [6] TOTAL SECTION C: 50 P.T.O.

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT 12 SCIENCES GRADE 9 SECTION D ENTREPRENEURSHIP QUESTION 8 – SECTORS IN THE ECONOMY Study the pictures below and answer the questions that follow: Picture 1 Picture 2 Picture 3 [Source: www.minergy-news.com] [Source: fooled-wpengine.netdna- [Source: www. ssl.com] crestonebusinessgroup.com] 8.1 Identify the sectors represented in pictures 1 – 3 above. (3 x 1) (3) 8.2 Discuss the role of the tertiary sector. (2) 8.3 List TWO types of skills found in the primary sector. Provide ONE example of each. (2 x 2) (4) 8.4 Discuss the interrelationship between the three sectors. (3 x 2) (6) [15] TOTAL SECTION D: 15 TOTAL: 150 END