Economic And Management Sciences Grade 9 P2 2021 Memo (Eng)

Downloaded from hlayiso.com PROVINCIAL EXAMINATION NOVEMBER 2021 GRADE 9 MARKING GUIDELINES ECONOMIC AND MANAGEMENT SCIENCES THE ECONOMY AND ENTREPRENEURSHIP (PAPER 2) 8 pages

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 SECTION A QUESTION 1 1.1 MULTIPLE CHOICE QUESTIONS 1.1.1 C ✓✓ 1.1.2 D ✓✓ 1.1.3 C ✓✓ 1.1.4 D ✓✓ 1.1.5 A ✓✓ 10 1.2 MATCHING ITEMS 1.2.1 D✓ 1.2.2 G✓ 1.2.3 E✓ 1.2.4 F✓ 1.2.5 C✓ 5 1.3 TRUE OR FALSE 1.3.1 True ✓ 1.3.2 False ✓ 1.3.3 False ✓ 1.3.4 True ✓ 1.3.5 True ✓ 5 TOTAL SECTION A: 20 2

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 SECTION B: THE ECONOMY QUESTION 2: ECONOMIC SYSTEMS 2.1 2.1.1 Market economy ✓ (1) 2.1.2 The cartoon refers to “No government”. There is very little government intervention in a market economy. ✓✓ (Any other correct and relevant explanation) (2) 2.2 Planned economy Market economy Mixed market economy 2.2.2 Mr and Mrs Smith 2.2.1 Creamy Doughnuts 2.2.3 Governments are not allowed to aim is to make a provide and own property. ✓ profit. ✓ entrepreneurs produce. ✓ (3) 2.3 • Environmental damage occurs when resources are extracted or wasted. ✓✓ • Pollution through excessive production. • Exploitation of workers, especially in countries with little or no labour protection laws. • Weaker currencies are at a risk when a major economy faces a crisis. • People are tempted to spend beyond their means. • Brain drain – highly qualified people leave their own countries in search of better jobs in other countries. (Any other correct and relevant answer, any ONE for 2 marks) (2) [8] 3

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 QUESTION 3: CIRCULAR FLOW 3.1 A – Businesses/Firms ✓ B – Factor market ✓ (2) 3.2.1 The government supplies the households with public goods and services. ✓ The households pay taxes to the government. ✓ (2) 3.2.2 Personal Income tax ✓, VAT/Fuel levies/Custom duties/Excise tax ✓ (Any TWO for 1 mark each) (2) 3.3 Factor of production Remuneration Capital Interest ✓ Entrepreneurship ✓ Profit Land ✓ Rent Labour Wages/Salaries ✓ (4) 3.4 Example: Lebo’s mum buys groceries from the local supermarket. She pays cash in exchange for the goods that she bought. ✓✓ (ANY relevant answer. It must refer to paying and receiving goods for 2 marks.) (2) [12] 4

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 QUESTION 4: PRICE THEORY 4.1 Law of Demand – When the price of a product increases, the demand for that product will be low/will decrease. When the price of a product decreases, the demand for that product will increase.✓✓ (2) 4.2 4.2.1 ✓ ✓ 150 D S 125 Price (R)✓ 100 75 E✓ 50 S D 0 100 200 300 400 500 600 700 800 900 Quantity✓ (5) 4.2.2 R100 ✓ (1) 4.3 increase✓ positive or direct ✓ (2) [10] TOTAL SECTION B: 30 5

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 SECTION C: ENTREPRENEURSHIP QUESTION 5: SECTORS OF THE ECONOMY 5.1 • Primary sector – extracts raw materials (fish) from nature through fishing which is supplied to the factory in the secondary sector. ✓✓ • Secondary sector – processes the fish caught through fishing in the primary sector and converts/manufactures it to a final product (fish fingers). The product is packaged and ready for distribution to the tertiary sector. ✓✓ • Tertiary sector – packaged fish fingers are distributed from the factory to wholesalers and retailers who sell the final product to consumers/ households. ✓✓ (Any other correct and relevant explanation for 2 marks per sector) (6) 5.2 Recycling is to send waste material to factories so that they can be reprocessed into new goods, saving on the use of new raw materials. ✓✓ (Any other correct and relevant explanation) (2) [8] 6

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 QUESTION 6: BUSINESS FUNCTIONS 6.1 6.1.1 Tasneem ✓ 6.1.2 Mary ✓ 6.1.3 Seema ✓ 6.1.4 Sipho ✓ 6.1.5 Komello✓ (5) 6.2 John ensures that the other functions work together to achieve the business objectives. ✓✓ He took the initiative and ensured that all the other functions were functioning. John has good decision-making skills and managed the business even though he was not appointed. (Any relevant and correct motivation that is relevant to the general management function for 2 marks) (2) 6.3 • Keeps records of the financial transactions of the business. ✓✓ • Plans/controls/manages the business finances. • Analyses and reports to general management on financial aspects of the business. • Manages the cash flow, financial investments and property of the business. • Makes sure that accounts are paid. • Makes sure that all money is received from sales. • Prepares the financial statements • Pays income tax to SARS. (Any other relevant and correct answer for 2 marks) (2) [9] 7

Downloaded from hlayiso.com ECONOMIC AND MANAGEMENT SCIENCES MARKING GUIDELINES (Paper 2) GRADE 9 QUESTION 7: BUSINESS PLAN 7.1 7.1.1 • It gives a detailed description of how a business is going to achieve its goals. ✓✓ • It includes information about the business’s finances, and shows the expected amount of money/profit the business aims to make. • The business plan can be used if a business wants to apply for finance for start-up capital or to expand the business. (Any other relevant and correct answer for 2 marks). (2) 7.1.2 Fixed cost: are the costs/expenses that are not directly linked to production. They remain the same irrespective of the number of products produced. ✓ Example: rent✓/ insurance/ interest on loans Variable Cost: are the costs that are directly linked to production. These costs vary according to the number of products produced. ✓ Example: direct/raw materials✓/direct labour (factory workers’ wages) (Any other correct and relevant answer) (4) 7.2 7.2.1 Strengths: Weaknesses: • She watched her mum cook and soaked in • Finding the time to go to school, all the information and uses it too. ✓✓ do sports and run the business. • She does research and tries new recipes (Any one of the above for 2 marks) Opportunities: Threats: • She does catering and pop-ups on the • Her business has shut down weekends to grow her business temporarily due to the COVID-19 pandemic. ✓✓ (2 x 2) (4) 7.2.2 Time management - She needs to manage her time effectively by drawing up a schedule, and prioritising her tasks, duties and responsibilities and putting her education first. ✓✓ (2) 7.2.3 Long-term goal ✓ (1) [13] TOTAL SECTION C: 30 TOTAL: 80 8