Economic Management Sciences Grade 7 June 2021 Addendum

Bedfordview Primary School MID- YEAR TEST ANSWER SHEET Name: Grade 7 Subject: ECONOMIC MANAGEMENT SCIENCES Examiner: Mrs T. Naidoo Date: 22 June 2021 Moderator: Mrs P. Naidoo Time Allocation: 90 minutes 1 2 3 4 5 6 7 % 0 – 29% 30 – 39% 40 – 49% 50 – 59% 60 – 69% 70 – 79% 80 – 100% 100 INSTRUCTIONS 1. An extra 10 minutes will be provided for reading. 2. Write neatly and legibly. 3. Answer in the spaces provided. 4. This paper consists of 6 pages. Question Analysis SECTION A SECTION B THE ECONOMY 30% FINANCIAL LITERACY 70% Question 1 2 3 4 5 6 7 8 9 TOTAL 100 Maximum 10 5 10 5 14 14 15 12 15 mark Learner’s mark Moderated mark -------------------------------------------------------------------------------------------------------------------------------------- SECTION A: THE ECONOMY 30 MARKS QUESTION 1: QUESTION 2: CLASSIFY THE SECTORS OF BUSINESS MATCHING (N.B. Only one √ per row) 1.1 BUSINESS PRIMARY SECONDARY TERTIARY 1.2 2.1 Mining 1.3 2.2 Restaurants 1.4 1.5 2.3 Farming 1.6 2.4 Car factory 1.7 2.5 Hospitals 1.8 MAXIMUM MARK /5 1.9 1.10 MAX. MARK / 10 1 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

QUESTION 3: WORD BANK Only write in the missing word in the corresponding space below. 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 MAXIMUM MARK / 10 MARKS QUESTION 4: ACRONYMS Write out each acronym in full 4.1 BBBEE 4.2 ATM 4.3 EFT 4.4 EPWP 4.5 GDP MAXIMUM MARK / 5 MARKS SECTION B: FINANCIAL LITERACY QUESTION 5: Tick the corresponding column on the right for each account. Only one column must be indicated in each case. Account name FIXED CURRENT LONG CURRENT INCOME EXPENSE ASSETS ASSETS TERM LIABILITIES LIABILITIE S 5.1 Vehicles 5.2 Fuel 5.3 Trading stock 5.4 Mortgage 5.5 Telephone 5.6 Land & Buildings 5.7 creditors 5.8 petty cash 5.9 bank overdraft 5.10 equipment 5.11 debtors 5.12 cash float 5.13 discount 5.14 bank 2 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

MAXIMUM MARK / 14 QUESTION 6: MULTIPLE CHOICE 6.1 Choose the correct letter. 6.2 Differentiate between profit and a loss Profit: ______________________________________________ 6.1.1 ______________________________________________ 6.1.2 ______________________________________________ 6.1.3 6.1.4 Loss: ______________________________________________ 6.1.5 ______________________________________________ 6.1.6 ______________________________________________ Max. /6 Maximum mark /4 MARK 6.3 Differentiate between financial transaction and a financial record. Financial record: ____________________________________________________________________________ _ Financial transaction: ____________________________________________________________________________ _ ____________________________________________________________________________ _ ____________________________________________________________________________ _ Maximum mark /2 6.4 List any TWO examples of financial records ___________________________________________________________________________ ___________________________________________________________________________ 3 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

Maximum mark /2 QUESTION 7: 7.1 Personal Budget ___________________________________________________________________ RECEIPTS PAYMENTS TOTAL TOTAL MAXIMUM MARK /9 7.2 Does Zamani have enough money to buy his dad a gift? __________________________________________________________________________ (2) __________________________________________________________________________ 7.3 TWO savings tips for Zamani: ___________________________________________________________________________(2) ____________________________________________________________________________ ____________________________________________________________________________ 7.4 Difference between Saving and investing ___________________________________________________________________________(2) _____________________________________________________________________________ _____________________________________________________________________________ ______________________________________________________________________________ 4 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

QUESTION 8: NET WORTH STATEMENT 12 MARKS Statement of net worth of __________________________________________________ Assets Total Assets Liabilities Total Liabilities QUESTION 9: SHORT QUESTIONS- Inequality & poverty 15 MARKS 9.1.1 __________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.1.2 ______________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.1.3 ______________________________________________________________________________ ______________________________________________________________________________ 5 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

___________________________________________________________________________ (2) 9.1.4 ______________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.1.5 _________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.2 SHORT QUESTIONS – Unemployment in SA 9.2.1 ______________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.2.2 ______________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (2) 9.2.3 ______________________________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________________ (1) SELF REFLECTION: Please complete after you have completed your test. I was happy with my effort in question/s ____________________________________________________________________________. My better section was _____________________________________________________________________________. 6 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL:

I had difficulty with questions ____________________________________________. I will need to revise more on _____________________________________________________________________________. Signature of learner__________________________________ Date________________________ 7 | BEDFORDVIEW PRIMARY SCHOOL EMS PAGE TOTAL: