Additional mid-year examination
SECTION A Question 1: Multiple choice
1.1 Our most basic needs are satisfied by ... A natural resources, goods and services B money C food, clothing and recreation D shelter and money
1.2 Dududu Spaza is a(n) ... business A formal B informal C service D manufacturing
1.3 Services are provided by ... A Plumbers, electricians, post office and Mnet. B Stores that offer credit. C Insurance brokers, bankers, accountants and hairdressers D Banks, parking garages, traffic police and street vendors
1.4 Mines, forestry and fishing groups are part of the ... sector of the economy. A primary B secondary C tertiary D manufacturing
1.5 Economists are people who .... A do the financial records of the economy B analyse the buying patterns of consumers C analyse and research the economy D ensure the government understands the needs and wants of the consumers
(5 × 2) [10]
Question 2: Complete sentences
Complete the following paragraph using words from the list below: Cheque, profits, formal, service, retail, informal, expenses, capital, income tax, Jeremy started his own business with R20 000 .(2.1). which he deposited into a .(2.2). account at the bank. He is an accountant and has established a .(2.3) business. As a results he must pay .(2.4) from his .(2.5). He provides a (2.6) to his clients and charges for his knowledge and expertise.
Additional mid-year examination
9780199052050_OS_Economics_7_TG_CAPS2017.indb 99
(6 × 2) [12]
99 11/29/17 9:02 AM
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