Economics Grade 9 P2 Gauteng June 2022 Question Paper (Eng)

PROVINCIAL EXAMINATION JUNE 2022 GRADE 9 ECONOMIC AND MANAGEMENT SCIENCES: THE ECONOMY AND ENTREPRENEURSHIP (PAPER 2) TIME: 1 hour MARKS: 50 8 pages and an answer book of 6 pages

ECONOMIC AND MANAGEMENT SCIENCES 2 (PAPER 2) GRADE 9 INSTRUCTIONS AND INFORMATION 1. This question paper consists of Sections A, B and C based on the prescribed content framework in the CAPS Amendment Document and RATP. SECTION A: ALL TOPICS QUESTION 1.1: Matching items (5) QUESTION 1.2: Choose the correct word (5) [10] SECTION B: THE ECONOMY QUESTION 2: Economic Systems (6) QUESTION 3: Circular Flow (10) QUESTION 4: Price Theory (9) [25] SECTION C: ENTREPRENEURSHIP QUESTION 5: Sectors of the economy (15) [15] 2. ALL the questions are compulsory. 3. Answer ALL the questions in the ANSWER BOOK provided. 4. Write neatly and legibly. P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 3 (PAPER 2) GRADE 9 SECTION A: ALL TOPICS QUESTION 1 1.1 MATCHING ITEMS Choose a term in Column B that matches a description in Column A. Write only the letter (A – G) next to the question number (1.1.1 to 1.1.5) in your ANSWER BOOK e.g. 1.1.6 H. COLUMN A COLUMN B 1.1.1 Consumers buy final products directly from A Economic problem these businesses B Demand 1.1.2 Having to decide on how to satisfy the unlimited wants and needs of people with C Wholesalers only limited resources available D Retailers 1.1.3 The quantity of a good or service that consumers want to buy at a specific price E Tertiary sector 1.1.4 Businesses mainly situated in rural areas F Supply 1.1.5 Also known as the service sector G Primary sector (5 x 1) [5] 1.2 CHOOSE THE CORRECT WORD For each of the statements below, choose the correct word/s within the brackets. Write only the correct word/s next to the question number in your ANSWER BOOK e.g. 1.2.6 goods. 1.2.1 A country with a/an (closed economy/open economy) will not participate in importing and exporting to and from other countries. (1) 1.2.2 A construction company is said to exist in the (primary/secondary) sector. (1) 1.2.3 A free market economy can also be referred to as a (communist/ capitalist) economy. (1) 1.2.4 The law of supply states that the higher the price, the (higher/lower) the quantity supplied. (1) 1.2.5 The majority of the labour force or workers in the secondary sector are (unskilled/semi-skilled). (1) [5] TOTAL SECTION A: 10 P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 4 (PAPER 2) GRADE 9 SECTION B: THE ECONOMY QUESTION 2: ECONOMIC SYSTEMS 2.1 Name the economic system in which the government sets the prices of goods and services. (1) 2.2 Refer to the image below and answer the questions that follow. [Source: https://biz-at-it.blogspot.com/2021/03/illustration-mixed-economy.html] 2.2.1 Identify the type of economic system portrayed in the above image. (1) 2.2.2 Discuss ONE characteristic of the above economic system. (2) 2.3 Read the following scenario before answering the questions. Your mum buys old jeans from a second-hand store. She pays R20 per pair and recycles each pair into three handbags. She then sells the handbags to a large group of customers at the local community weekend pop-up market for R50 per bag. Motivate why the above scenario can be identified with a free market economy. Give ONE point. (2) [6] P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 5 (PAPER 2) GRADE 9 QUESTION 3: CIRCULAR FLOW Study the following circular flow diagram and answer the questions that follow. G. Income goods and services market F. C. Goods and Services D. Goods and Services buys goods and services net net taxes taxes services services ACME firms government households hires from A. factor market Factors of production B. Factors of production H. factor market E. Rewards for factors of production [Source: Adapted: https://www.cengage.com/economics/tomlinson/lecture/8471.pdf] 3.1 Name the participant in the circular flow that provides public goods and services. (1) 3.2 Provide descriptions for the flows labelled F and H as indicated in the above circular flow diagram. (4) 3.3 Identify the “Real Flow” in the above diagram from the options below. Choose the correct option and write down only Option 1 or Option 2 in your ANSWER BOOK: (2) Option 1: A → B → C → D Option 2: E → F → G → H P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 6 (PAPER 2) GRADE 9 3.4 Thato is a young gentleman from a household. He is employed by Golden Ribbons, a business that exists in the economy in the above circular flow. Identify the following for Thato: 3.4.1 The factor of production that Thato provides to the economy (1) 3.4.2 The remuneration that Thato earns for his contribution to this factor of production (1) 3.4.3 The payment that Thato makes to the government (1) [10] QUESTION 4: PRICE THEORY 4.1 Name ONE factor that will influence the demand consumers have for a product. (1) 4.2 You have been saving money to buy a PlayStation 4 and have been looking out for good deals at various stores. You noticed that the price changes from time to time and that different stores sell it at different prices. Below is the demand and supply schedule for the PlayStation 4 at a large gaming store in the country. Price ( R ) Quantity demanded Quantity supplied 10 000 5 25 8 000 10 20 6 000 15 15 4 000 20 10 3 000 25 5 [Source:https://www.playstation.com/en-us/ps4/] 4.2.1 Use the information supplied in the above schedule to draw a demand and supply curve for a PlayStation device. (Label the curves and the equilibrium point clearly.) (5) 4.2.2 Identify the equilibrium price. (1) 4.2.3 Identify ONE complementary good and ONE substitute good for a PlayStation device. (2) , [9] TOTAL SECTION B: 25 P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 7 (PAPER 2) GRADE 9 SECTION C: ENTREPRENEURSHIP QUESTION 5: SECTORS OF THE ECONOMY 5.1 Complete the following table. Sector Primary Secondary 5.1.1 Description Extracts raw 5.1.2 Produced goods are material from transported and sold nature to the consumer Example 5.1.3 Fruit juice factory Supermarket (3) 5.2 Briefly discuss the importance of using the resources of the primary sector sustainably. (4) 5.3 Read the following case study and answer the questions that follow. COVID-19 and the textile, clothing, leather and footwear industries The viability of the textiles, clothing, leather and footwear industries is unravelling, as workers are told to stay at home, factories close, and global supply chains grind to a halt. The cancellation of orders has hit thousands of firms and millions of workers particularly hard. We urgently need solidarity and joint action across the industries’ supply chains. The ILO is committed to supporting governments in protecting the health and economic well-being of workers and businesses in the textiles, clothing, leather and footwear industries. [Source: https://www.ilo.org/global/topics/coronavirus/sectoral/lang--en/index.htm] 5.3.1 What is the main cause for the textile, clothing, leather and footwear industries being negatively affected? (1) 5.3.2 Identify TWO ways in which the above industry has been negatively affected. (4) P.T.O.

ECONOMIC AND MANAGEMENT SCIENCES 8 (PAPER 2) GRADE 9 5.3.3 Suggest ONE way in which the government can protect the economic well-being of workers in the textile, clothing, leather, and footwear industries. (2) 5.3.4 The above case study can be relevant to many countries across the globe. Choose ONE of the options provided below to predict which country may be more severely affected in the case study above. A New Zealand B Canada C Bangladesh D United Kingdom (1) TOTAL SECTION C: 15 TOTAL: 50 END