4.3 John has the following personal budget: Income:
Salary from business
Expenses: Rent
Car repayment Groceries Clothing
Water and electricity Entertainment Fuel and repairs Insurance
Medical Aid Golf club fees
Mnet subscription Gym membership Savings
R25 000 00 23 365 00
7 500 00 2 600 00 2 500 00 1 500 00 790 00
3 500 00 900 00
2 500 00 1 200 00 500 00 375 00 500 00
R1 635 00 4.3.1 Explain the purpose of a budget. 4.3.2 How does a cheque account benefit John?
4.3.3 Do you think John is using his money wisely? Give reasons for your answer.
4.3.4 Suggest ways John can increase the amount he saves each month. Give reasons for your suggestions.
(4) (4)
(6) (6)
4.4 John wants to grow his business, and invites another accountant, Nthuseng, to join his business as a junior accountant. 4.4.1 How will this influence the income and expenses of his business? 4.4.2 How can he ensure that he grows his business in this way?
SECTION D: ENTREPRENEURSHIP
Question 5 5.1 Define an informal business.
(6)
5.2 Shelagh has been running a business from home selling jewellery and clothes she imports from India. Her friends say she should start a sole trader business in the local shopping mall. Do you think this a good idea? Write a paragraph giving your opinion on changing to a formal business.
(6) (2)
[36]
R25 000 00
(7)
5.3 Discuss how natural disasters and health epidemics can affect Shelagh’s business. (4)
[17] Total: 100 marks Additional mid-year examination
9780199052050_OS_Economics_7_TG_CAPS2017.indb 101 101 11/29/17 9:02 AM
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