Economic And Management Sciences Grade 9 November GP 2016 Memo

Downloaded from hlayiso.com GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION NOVEMBER 2016 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES MEMORANDUM 11 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 C  1.1.2 B  1.1.3 A  1.1.4 D  1.1.5 C  1.1.6 A  1.1.7 B  1.1.8 D  1.1.9 B  1.1.10 A  [20] 1.2 CHOOSE THE CORRECT WORD 1.2.1 households  1.2.2 gross profit  1.2.3 market  1.2.4 consumers  1.2.5 business plan  [10] 1.3 MATCH COLUMNS 1.3.1 J  1.3.2 G  1.3.3 F  1.3.4 A  1.3.5 H  1.3.6 I  1.3.7 B  1.3.8 E  1.3.9 C  1.3.10 D  [20] 1.4 TRUE OR FALSE 1.4.1 False  1.4.2 True  1.4.3 True  1.4.4 False  1.4.5 False [10] TOTAL SECTION A: 60 2

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION B QUESTION 2 2.1 ECONOMIC SYSTEMS 2.1.1 Market Economy  2.1.2 Planned Economy  2.1.3 Mixed Economy  (3x1) (3) 2.2 Advantages • Strong social welfare programmes such as pension schemes, unemployment benefits and various other social grants help the poor.  • Everyone is comfortable and has the basic needs, such as good healthcare, housing and education.  • The system eliminates inequalities. • The state owns the major industries, so profits from the country’s resources are not taken out of the country by foreign-owned companies. • There is very little unemployment. (2x2) (4) 2.3 MTN Pick n Pay Checkers (Mark any other relevant answer correct.) (3x1) (3) [10] QUESTION 3 – THE CIRCULAR FLOW 3.1 3.1.1 A Rent  B Wages / Salaries  C Interest  D Profit  (4x1) (4) 3.1.2 Government provides public goods and services √ These include services such as public roads, electricity, water, social services, healthcare, transport, security and education. (3x1) (3) 3.1.3 Businesses sell goods and services in the goods market which the households then purchase from the goods market. Households pay for the goods and services at the goods market from where businesses receive their revenue ✓ (2x1) (2) 3.1.4 Labour ✓ (1) [10] 3

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 4 – PRICE THEORY 4.1 MARKET DEMAND AND SUPPLY SCHEDULE FOR BOXES OF PAPER P 20 D S 18 16 PRICE 14  E (R) 12 10  S D Q 0 100 200 300 400 500  QUANTITY  (7) 4.2 R14  (1) 4.3 The lower the price of the paper the greater the demand will be.  The higher the price the lower the demand. (2) [10] 4

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 5 – TRADE UNIONS 5.1 5.1.1 Jacob Mamabolo  (1) 5.1.2 The role of trade unions based on the case study is to fight for their employees in the following situations: • Working conditions  • Salary disparities • Use of casual workers (2) 5.1.3 Pikitup managing director Amanda Nair must go √and inconsistent salary payments be rectified.  (2x1) (2) 5.2 A system where one person or a small group of people negotiate on behalf of a large group.  (2) 5.3 5.3.1 SADTU: South African Democratic Teachers’ Union  (1) 5.3.2 SAMWU: South African Municipal Workers’ Union  (1) 5.4 COSATU – Congress of South African Trade Unions (1) [10] TOTAL SECTION B: 40 5

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION C FINANCIAL LITERACY QUESTION 6 – JOURNALS AND LEDGERS 6.1 CASH RECEIPTS JOURNAL OF MK FURNITURES – OCTOBER 2016 CRJ1 Sundry Accounts Doc Analysis of Cost of Debtors’ Day Details Fol Bank Sales No. Receipts Sales Control Amount Fol Details CRT 101 05 Sales 23 94 - 23 94 - 23 94 - 15 96 - 621 25 H. Van Wyk 28 90 - 28 90 - 28 90 -   (8) 6.2 CASH PAYMENTS JOURNAL OF MK FURNITURES – OCTOBER 2016 CPJ 1 Doc Trading Creditors’ Sundry Accounts Day Name of Payee Fol Bank No. Stock Control Amount Fol Details 61 11 Leonards  23 860 - 23 860 - 62 16 Goodmans 14 200 - 14 200 -   (6) 6

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 6.3 DEBTORS JOURNAL OF MK FURNITURES – OCTOBER 2016 DJ1 Doc Day Debtor Fol Sales Cost of Sales No. 71 20 H. Van Wyk D2 2 390 - 1 593 -   (6) 6.4 DEBTORS ALLOWANCES JOURNAL OF MK FURNITURES – OCTOBER 2016 DAJ1 Doc Debtors’ Day Debtor Fol Cost of Sales No. Allowances 51 11 Cain Du Pont D1 1 287 - 858 -   (5) 6.5 CREDITORS JOURNAL OF MK FURNITURES – OCTOBER 2015 CJ 1 Doc Creditors’ Packing Sundry Accounts Day Creditor Fol No. Control Material Amount Fol Details Goodmans 90 7 5 230 - 3 102 - 2 128 - Consumables Retailers   (6) 7

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 6.1.6 CREDITORS’ ALLOWANCES JOURNAL OF MK FURNITURES – OCTOBER 2016 CAJ 1 Doc Creditors’ Packing Sundry Accounts Day Creditor Fol Nr. Control Material Amount Fol Details Goodmans 11 16 1 390 - 1 390 - Retailers   (4) 6.1.7 CREDITORS LEDGER OF MK FURNITURES – OCTOBER 2016 GOODMANS RETAILERS C1 Year & Day Details Fol Debit Credit Balance Month 2016 1 Balance b/d 14 200 Oct 7 Invoice no. 90 CJ9 5 230 - 19 430 16 Cheque no. 62 CPJ9 14 200 - 5 230 16 Debit note no. 11 CAJ9 1 390 - 3 840 (7) [42] 8

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 7 – GENERAL LEDGER GENERAL LEDGER OF JAYS STORES – AUGUST 2016 DR TRADING STOCK B4 CR Date Details Fol Amount Date Details Fol Amount Aug Aug 1 Balance b/d 20 719 - 31 Cost of Sales CRJ9 4 475 - 2016 2016 31 Bank CPJ9 9 880 - Cost of Sales DJ9 7 593 - Cost of Creditors’ DAJ9 893 - CAJ9 510 - Sales Allowances Creditors’ CJ9 8 367 - Balance c/d 27 281 - Control 39 859 - 39 859 - Sep 1 Balance b/d 27 - 2016 281 (Mark may only be awarded if the totals are the same.) (10) 9

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 QUESTION 8 – TRIAL BALANCE 8.1. TRIAL BALANCE OF DANYAAL’S TRADERS ON 31 JULY 2016 Fol Debit Credit Balance sheet account section Capital B1 10 000 Equipment B2 5 500 Bank B3 10 191 Creditors’ Control B4 3 200 Nominal Account Section Sales N1 9 681 Cost of Sales N2 7 095 Rent income N3 350 Telephone N4 445 23 231 23 231  (8) (Mark may only be awarded if the totals are the same.) TOTAL FOR SECTION C: 60 10

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 SECTION D ENTREPRENEURSHIP QUESTION 9 – SECTORS IN THE ECONOMY 9.1 Picture 1: Secondary Sector✓ Picture 2: Primary Sector ✓ Picture 3: Tertiary Sector✓ (3) 9.1.2 Primary Sector – unskilled – they do things like working on mines, farms, fishing boats and plantations. The work they do is often physical work and requires low-level skills.  Secondary sector – semi-skilled/skilled – workers in this sector do things like operating factory machinery and production lines in manufacturing businesses. Their work often requires a fair level of skill.  Tertiary sector – skilled – workers in this sector do things like give medical treatment, teach and provide financial and IT services, for which they have often studied at university.  (6) 9.1.3 Recycle✓ Reuse✓ Reduce✓ (3) [12] QUESTION 10 – FUNCTIONS OF A BUSINESS 10.1 10.1.1 Purchasing Function✓ 10.1.2 Production Function✓ 10.1.3 Financial Function✓ 10.1.4 General Management Function✓ (4) 11

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT MEMORANDUM SCIENCES GRADE 9 10.2 Product, Place, Promotion and Price (4) 10.3 Attract attention. Create an interest in the product. Stimulate a desire to possess the product. Lead to action to buy the product. (4) [12] QUESTION 11 – THE BUSINESS PLAN 11.1 The business plan sets out all the details and arrangements for a new business venture.  It is a structured guideline of what needs to be done to achieve business goals. (2) 11.2 The format of a business plan should include: • The front cover  • Table of contents  • Description of the product or services offered by the business.  • Goals of the business  • The business owner  • Production plan  • Marketing plan • Management plan • SWOT (strengths, weaknesses, opportunities, threats) analysis and • Conclusion • Financial plan (6) 11.3 STRENGTHS WEAKNESSES • Quality children’s clothing • New business • Personnel are experienced and • Medium sized company know the market well • Profitable Market OPPORTUNITIES THREATS • To respond quickly to what the • experienced competitors market requires (One component for each section x 2) (8) [16] TOTAL SECTION D: 40 TOTAL: 200 12