Economics Grade 9 Gauteng November 2019 Question Paper (Eng)

GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION NOVEMBER 2019 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES TIME: 2 hours MARKS: 200 16 pages Copyright reserved Please turn over

Economic and Management Sciences 2 GP/November 2019 Grade 9 INSTRUCTIONS AND INFORMATION 1. 1. ALL questions are compulsory. 2. Answer ALL questions in the ANSWER BOOK. 3. Read through the questions carefully and make sure that you allocate enough time for each question. 4. Write neatly and legibly. 5. The use of a non-programmable calculator is allowed. Copyright reserved Please turn over

Economic and Management Sciences 3 GP/November 2019 Grade 9 SECTION QUESTION MARKS SHORT QUESTIONS: ALL TOPICS [60] Question 1.1: True or False 10 A Question 1.2: Missing words 10 Question 1.3: Matching Items 20 Question 1.4: Multiple-choice 20 THE ECONOMY [40] Question 2: Question 2.1 Economic Systems 15 B Question 2.2 Circular flow 14 Question 3: Trade unions 11 FINANCIAL LITERACY [60] Question 4: Trail Balance 16 C Question 5: Journals 23 Question 6: Ledgers 21 ENTREPRENEURSHIP [40] Question 7: Business plan 24 D Question 8: Functions of business & Sectors of 16 the economy TOTAL 200 Copyright reserved Please turn over

Economic and Management Sciences 4 GP/November 2019 Grade 9 SECTION A: ALL TOPICS QUESTION 1: TRUE OR FALSE 1.1 Indicate whether the following statements are TRUE or FALSE. Write down only 'true' or 'false' next to the question number (1.1.1 to 1.1.5) in your ANSWER BOOK. 1.1.1 When demand is equal to supply we call it the equilibrium point. 1.1.2 Government, businesses and households do not form part of the circular flow. 1.1.3 A cheque is the source document that is issued to pay for expenses. 1.1.4 In poor countries most workers are employed in the secondary sector. 1.1.5 When you receive a trade discount, the price that you pay is less than the original selling price. (10) MISSING WORDS 1.2 Complete the following statements by filling in the missing word/s. Write down only the correct answer in your ANSWER BOOK. 1.2.1 In the … economy business and property are privately owned and are not managed by government policies. 1.2.2 The largest trade union for general workers in South Africa is …. 1.2.3 The … account is debited in the General Ledger when goods are purchased with cash or on credit. 1.2.4 Pep Stores and ABSA bank form part of the … sector. 1.2.5 Cost of Sales is an …, it is money that the business pays when purchasing Trading Stock. (10) Copyright reserved Please turn over

Economic and Management Sciences 5 GP/November 2019 Grade 9 MATCHING ITEMS 1.3 Choose a description from COLUMN B that matches a term in COLUMN A. Write only the letter (A–K) next to the question number (1.3.1 to 1.3.10) in your ANSWER BOOK. COLUMN A COLUMN B 1.3.1 Collective bargaining A Households sell their factors of production. 1.3.2 Exchange rate B The debtor returned damaged 1.3.3 Operational plan goods. 1.3.4 Creditors' Control C A plan that outlines the expected cash receipts and payments of a 1.3.5 General Ledger business 1.3.6 Gross Domestic Product D Informs the target market about the business and its products 1.3.7 Marketing E The total value of all goods and 1.3.8 Cash budget services which are produced in a country in a year 1.3.9 Credit note F A summary of Balance Sheet and 1.3.10 Factor market Nominal accounts of all transactions G Increases on the credit side and decreases on the debit side H It shows how a business is managed I The price at which a currency will be expressed in terms of another country’s currency J The process where the trade unions and employers negotiate industry-related issues K Entered in the balance column of the Debtors' Control account (10 x 2) (20) Copyright reserved Please turn over

Economic and Management Sciences 6 GP/November 2019 Grade 9 MULTIPLE-CHOICE QUESTIONS 1.4 Various possible options are provided as answers to the following questions. Choose the answer and write only the letter (A–D) next to the question number (1.4.1 to 1.4.10) in your ANSWER BOOK. 1.4.1 When the price of goods decreases, the demand for the goods will … A remain the same. B increase. C decrease. D none of the above. 1.4.2 The Human Resources Manager is not responsible for … A Employment Equity laws. B finances of the business. C purchasing of raw materials and producing of products. D All of the above 1.4.3 The advantage to the business for selling goods on credit is that … A more debtors buy on credit. B more creditors buy cash. C less debtors buy on credit. D all of the above. 1.4.4 The Minister of Finance who was appointed on 29 May 2019 is … A Malusi Gigaba. B Pravin Gordhan. C Nhlanhla Nene. D Tito Mboweni. 1.4.5 The following accounts are examples of Assets: A Bank, Vehicles, Stationery, Trading Stock B Bank, Equipment, Debtors' Control, Trading Stock C Bank, Trading Stock, Creditors' Control, Sales D Bank, Sales, Cost of Sales, Trading Stock 1.4.6 Which of the following is NOT an example of a trade union? A NGO B NUMSA C DENOSA D SADTU Copyright reserved Please turn over

Economic and Management Sciences 7 GP/November 2019 Grade 9 1.4.7 What does the acronym, SWOT, stand for? A Strengths, Weaknesses, Opportunities and Teamwork B Services, Weaknesses, Opportunities and Threats C Strengths, Wisdom, Opposition and Teamwork D Strengths, Weaknesses, Opportunities, Threats 1.4.8 If you sell Trading stock for R2 500, and the mark-up is 66⅔% on cost. The cost price of the Trading Stock is … A. R1 666,67. B. R1 666,75. C. R1 500. D. R4 166, 67. 1.4.9 When you post from the Cash Receipts Journal to the Rent Income account, you will … it. A debit B balance C credit D close 1.4.10 Which ONE of the following represents the correct accounting cycle? A Source documents; Journals; General Ledger; Trial Balance. B Source Documents; General Ledger; Journals, Trial Balance. C Journals; Source documents; General Ledger; Trial Balance. D Source documents; Trial Balance; Journals; General Ledger (10 x 2) (20) TOTAL SECTION A: 60 Copyright reserved Please turn over

Economic and Management Sciences 8 GP/November 2019 Grade 9 SECTION B: THE ECONOMY QUESTION 2 2.1 Read the following extract and answer the questions that follow. The BRICS summit was held in South Africa from 25 to 27 July 2018. This international conference was attended by the five heads of state. These five states account to approximately a fifth of the world's economic output and 40% of its population. South Africa has the smallest economy and population of the five states. It is seen as representing African interests and is an economic gateway to the continent. ['Wikipedia.com'] 2.1.1 Besides South Africa, identify any TWO of the other countries that form part of the BRICS summit (2) 2.1.2 Which economic system is used in South Africa? Briefly explain (5) the characteristics of this system. 2.1.3 Evaluate the planned economic system. Give TWO advantages and TWO disadvantages. (4 x 2) (8) (15) Copyright reserved Please turn over

Economic and Management Sciences 9 GP/November 2019 Grade 9 2.2 Study the diagram below and answer the questions that follow. CIRCULAR FLOW Purchase of goods and services edienste Taxes Government purchases 2 Government 4 Income Public Taxes R services Wages, dividends, interest, profits and rent 2.2.1 Identify the participants that are represented by numbers 2 and 4. (2) 2.2.2 Distinguish between the interaction of numbers 2 and 4 in the circular flow. (4) 2.2.3 Name TWO public services that government provides to households. (2) 2.2.4 Evaluate what impact that tax increases will have on households and businesses. (3 x 2) (6) (14) Copyright reserved Please turn over

Economic and Management Sciences 10 GP/November 2019 Grade 9 QUESTION 3 Look at the cartoon and answer the questions that follow. 3.1 Employees have identified their demands in the cartoon. Can you think of TWO other demands that can result in protest actions, apart from those that are identified in the cartoon? (2) 3.2 What effect do trade unions have on businesses? (2 x 2) (4) 3.3 Briefly explain the responsibilities of trade unions. (5) (11) TOTAL SECTION B: 40 Copyright reserved Please turn over

Economic and Management Sciences 11 GP/November 2019 Grade 9 SECTION C: FINANCIAL LITERACY (60) QUESTION 4 4.1 An inexperienced bookkeeper has prepared the following Trial Balance. The owner is concerned as some mistakes were discovered. INSTRUCTIONS  Compile the correct Trial Balance in your ANSWER BOOK. (12)  Calculate the missing amounts that are indicated by A and B. (4) TRIAL BALANCE OF MUFASA TRADERS ON 30 NOVEMBER 2019 Folio Debit Credit Capital B1 A Drawings B2 4 160 Land & Buildings B3 192 000 Vehicles B4 134 000 Stationery B5 3 100 Trading Stock B6 18 300 Bank (dr) B7 26 420 Water and Electricity B8 14 800 Creditors' Control N1 19 600 Sales N2 220 000 Cost of Sales N3 170 000 Equipment N4 24 800 Rent Income N5 35 000 Debtors' Control N6 6 420 Salaries N7 40 000 Insurance B9 1 440 B B (16) Copyright reserved Please turn over

Economic and Management Sciences 12 GP/November 2019 Grade 9 QUESTION 5 The following information is taken from the books of David Traders. 5.1 Cash Receipts Journal (CRJ) (6) 5.2 Cash Payments Journal (CPJ) (7) 5.3 Creditors' Journal (CJ) (7) 5.4 Debtors' Journal (DJ) (3) INSTRUCTIONS  Record the transactions in the correct journals.  The business uses a mark-up profit of 25% on cost.  Do not close-off the journals. Transactions for September 2019 3 Sold goods on credit to G. Huluma, R1 300. Issued invoice 76. 4 Purchased the following on credit from Nyla Wholesalers (invoice 101) Filing cabinets R10 120 Stationery R 480 10 Cash sales of merchandise, R14 800 Issued receipt 105 to R Randall in part payment of his account, R4 600. 11 Cashed cheque no. 305 for:  Wages R 810 Cash float R1 000 15 Paid Masimino Traders by cheque as payment of our account, R8 300. 27 Purchased goods on credit from NYC Wholesalers for R7 600 less 10 % trade discount, received invoice. (23) Copyright reserved Please turn over

Economic and Management Sciences 13 GP/November 2019 Grade 9 QUESTION 6 INSTRUCTIONS 6.1  Use the extract taken from the journals of Radaba Traders and post it to the Debtors' Control account in the General Ledger for October 2019.  Balance the account at the end of the month. Balance Debtors' Control R 20 800 INFORMATION Cash Receipts Journal of Rabada Traders for October 2019 Bank Sales Cost of Sales Debtors' Control Sundry accounts R88 500 R58 500 R39 000 ? R6 500 Cash Payments Journal of Rabada Traders for October 2019 Bank Trading Wages Creditors' Equipment Sundry accounts Stock Control R50 200 R6 200 R3 400 R23 400 R8 800 R8 400 Creditors' Journal of Rabada Traders for October 2019 Creditors' Control Trading Equipment Stationery Sundry accounts Stock R30 680 R18 400 R9 400 R1 280 R1 600 Creditors' Allowance Journal of Rabada Traders for October 2019 Creditors' Control Trading Equipment Stationery Sundry accounts Stock R3 640 R2 100 R900 R240 R400 Debtors' Journal of Rabada Traders for October 2019 Sales Cost of Sales R13 500 R9 000 Debtors' Allowance Journal of Rabada Traders for October 2019 Debtors' Allowance Cost of Sales R1 800 R1 080 (10) Copyright reserved Please turn over

Economic and Management Sciences 14 GP/November 2019 Grade 9 6.2 Study the information taken from the books of Maynard Stores and answer the questions in your ANSWER BOOK. XANGELE TRADERS 2011 Code Details/Document Fol Debit Credit Balance Sept 1 Account rendered 800 - 5 01 Invoice: 675 6.2.3 700 - 6.2.4 - 15 02 6.2.5 :112 CPJ 1000 00 500 - 27 01 Invoice: 697 CJ1 450 20 950 20 6.2.1 Which ledger was used to complete this account? Give a reason for your answer. (2) 6.2.2 What was the outstanding balance on 31/08/2011? (1) 6.2.3 Which journal was used to post to the ledger? (1) 6.2.4 Calculate the outstanding amount. (2) 6.2.5 Identify the source document that was used. (1) 6.2.6 What effect will the transaction on 15 September have on the accounting equation? (4) (11) TOTAL SECTION C: 60 Copyright reserved Please turn over

Economic and Management Sciences 15 GP/November 2019 Grade 9 SECTION D: ENTREPRENEURSHIP QUESTION 7 Read the following article and answer the questions that follow. Thabo Jabu repairs shoes on the pavement outside the City Hall. He is an entrepreneur. He makes sure that his customers’ shoes are properly repaired. His desire is to open a small shop in town. His income of R2 000 per week is enough to survive on. These include monthly groceries of R1 000, R500 for rent, a daily R20 taxi fare, and school fees for his fifteen year old child. Thabo started working in 2015, with just R500 that he saved from his previous employment. Since that time he has been on the street, from 07:00 to 16:00, six days a week. It was difficult at the beginning, because he did not have any customers. However, through perseverance and hard work, he managed to get people to support his business. His customers included people in his area, people working in town, and he also has customers that support him from other areas. A minor concern is other hawkers who operate in the area. ''I can handle that,'' says this determined gentleman. 7.1 Is Thabo's informal business a service or retail business? Give a reason for your answer. (2) 7.2 What is his income per month? (1) 7.3 Prepare a SWOT analysis of Thabo's business. (4 x 2) (8) 7.4 Name any THREE components of a business plan. (3) 7.5 Thabo wants to approach a local bank for financial assistance to expand his business operations. Give a brief description of THREE aspects that should be included in his financial plan. (3 x 2) (6) 7.6 Differentiate between mass production and job production. (4) (24) Copyright reserved Please turn over

Economic and Management Sciences 16 GP/November 2019 Grade 9 QUESTION 8 8.1 Read through each of the scenarios below and decide which management function will be applicable. 8.1.1 Employees want to strike because of poor working conditions. 8.1.2 The workers work with very hazardous chemicals that could cause an accident if not handled carefully. The company needs to take precautions and protect itself. 8.1.3 Sales figures have dropped and the company needs to do something about this. 8.1.4 The company would like to invest some of the profits by buying shares in other companies. 8.1.5 The company was recently involved in a big scandal regarding the dumping of toxic waste. They need to establish good relations with the outside world again. (5 x 2) (10) 8.2 Tabulate the types of skills required in each of the 3 economic sectors. (6) (16) TOTAL SECTION D: 40 GRAND TOTAL: 200 Copyright reserved Please turn over