4.2 To provide a service doing peoples and business financial records. üü
4.3.1 A budget helps to identify the income and the total expenses for a month. üü It ensures that money received is spent is the best and most efficient manner. üü
4.3.2 He is able to apply for a bank overdraft. üü He can use the internet to make payments and received deposits. üü (4)
4.3.3 Use discretion with learners answers. They must give their opinion and support this with valid, logical reasons. Sample answer: No, I do not think he is using his money wisely. üü He is using more on entertainment than he spends on groceries. üü His water and electricity is very high for a single person. üü
4.3.4 He can take measures to reduce his use of electricity üü, reduce the amount he spends on entertainment and think of other ideas that are not so expensive, üü he can also reduce his clothing spending which is also fairly high. üü
(2) (4)
(6)
(max 6)
4.4.1 When Nthuseng joins his business, he will be able to accept more work, which means that the income will increase. üü. However, his expenses will also increase. üü He will have to pay Nthuseng a salary, and expenses, such as water and electricity, PAYE, medical aid contributions, UIF, and stationery, will increase. üü He may also have to buy more equipment to enable her to do her work. üü
(any six)
4.4.2 John will have to ensure that the extra work that Nthuseng can take on will cover the additional expenses, and still earn some profit for the company. üü
SECTION D: ENTREPRENEURSHIP
5.1 An informal business does not pay tax, üü is not registered, üü and the income is usually for daily expenses for the family. üü
5.2 Use discretion with learners answers. They must give their opinion and support this with valid, logical answers. Sample answer: I do not think ü it is a good idea as she already has a successful business. üü A formal business means that she will have increased overheads such as rent. üü She would also have to do market research to ensure that she has enough potential customers to support the business to make a profit. üü
(6) (2) [36]
(7)
5.3 A natural disaster, such as an earthquake or tsunami in India can affect Shelagh’s business. Her suppliers in India may not be able to provide her with stock, which means she will not be able to continue with her business in South. Africa. üü If her suppliers are struck down by a health epidemic they will also not be able to supply stock to her. Because Shelagh is working for herself on her own, she is also vulnerable to health issues herself. If she gets ill, she cannot continue with her business. üü
(4) [17] Total: 100 marks
Additional mid-year examination
9780199052050_OS_Economics_7_TG_CAPS2017.indb 103
103 11/29/17 9:02 AM
TERM 4
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51
