Grade 9 EMS Waterfall College Cycle Test: Term 1 Examiner: Ms J ...

Grade 9 EMS

Examiner: Ms J Cansfield

Waterfall College

Cycle Test: Term 1

Total: 60 marks

Time: 50 minutes

Instructions:

i.

ii.

iii.

iv.

v.

vi.

vii.

viii.

Answer all questions.

Number your questions as they are numbered on this question paper.

Do not use tip-ex.

You may use blue or black ink only.

Any drawings or diagrams may be done in pencil.

Write legibly and neatly.

Read the questions carefully.

This exam consists of 4 pages.

Grade 9 EMS Cycle Test Term 1

Name:___________________________________________

Mark achieved

(out of 60 )

% achieved

Page 1

Class: ___________

Symbol

QUESTION 1.

(13 marks)

1.1)

What is meant by the term ¡®economic problem¡¯?

(2)

1.2)

¡®The flow of money is a never-ending process but the flow changes constantly.¡¯

Discuss this statement.

(3)

Use a diagram to explain the factors of production for vanilla cupcakes.

(8)

1.3)

QUESTION 2.

(17 marks)

Study the picture below and then answer that questions that follow:

The picture shows a hot dog stand alongside a hamburger stand in a busy craft market.

2.1)

Explain what is meant by the term ¡®demand¡¯.

(2)

2.2)

Explain what is meant by the term ¡®supply¡¯.

(2)

2.3)

Indicate whether each of the following factors will lead to an increase or decrease in the demand

for hot dogs:

a) A decrease in consumer incomes.

(1)

b) A large increase in the price of hamburgers sold at the craft market.

(1)

2.4)

Indicate whether each of the following factors will lead to an increase or decrease in the supply of

hot dogs:

a) A large increase in the cost of producing hot dogs.

(1)

b) Another hot dog producer starts to sell hot dogs at the craft market.

(1)

Page 2

2.5)

Consider the following graph for cars in South Africa.

a) What does the line D1 tell us

(1)

b) What does the line S1 tell us.

(1)

c) What is the point where these lines meet called, and what does this mean.

(3)

d) What role does price play in affecting demand and supply.

(2)

e) Give a reason why demand and supply change over time.

(2)

QUESTION 3.

3.1)

(30 marks)

Who is our current minister of finance?

a.

Tito Mboweni

b.

Trevor Manuel

c.

Pravin Gordhan

d.

Jacob Zuma

(1)

3.2)

Who announces the National Budget and when is it announced?

(2)

3.3)

What is the National Budget? Explain.

(3)

3.4)

Individuals and businesses in South Africa pay taxes. To whom are these taxes paid and why? (3)

3.5)

The South African government spends a large part of its budget on scientific research.

One area of research is the possible cure for HIV/Aids.

Answer the following questions:

a)

Do you think this is a waste of money?

(2)

b)

If you were the Minister of Finance, what would you spend the government¡¯s money on?

(2)

Page 3

3.6)

Read through the following information and answer the questions that follow:

The following information, provided by the Doughnuts & Delivery, is taken from the books for the

month of October. Doughnuts & Delivery is owned by Dennis. He manufactures tasty doughnuts on

a small scale according to orders and then delivers to his customers. All customers pay C.O.D.

Income

6700

Receipts from Customers

Fuel

Advertising

Telephone

Insurance

Vehicle Repayments

Water & Electricity

DSTV

Expenses

1800

300

850

450

2100

150

370

3.6.1) Dennis wants to know if his business has made a cash surplus for October.Calculate this figure. (4)

3.6.2) Does Dennis live with in his means? Explain and support your answer with calculations.

(5)

3.6.3) If he wanted to save and put money aside what expense/s could he cut down on? Justify your

answer with a reason.

(3)

3.6.4) His Fuel and Vehicle Repayments together make up 65% of his total expenses.

Do you think this is justified for his type of business. Explain.

(2)

3.6.5) What happens if the expenses exceed income? What would this be referred to as?

(2)

3.6.6) What does C.O.D mean?

(1)

Page 4

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