SECTION C: ENTREPRENEURSHIP


Question 4 4.1 List TWO decisions an entrepreneur must make before starting his business. (2) 4.2 Jenny employs three ladies to help her make quilts for stores in town. 4.2.1 Describe the importance of advertising to Jenny.


(6)


4.2.2 Suggest how goal setting could help her achieve her dream of eventually opening her own shop.


Question 5


Study the following information on Jenny’s quilting business and answer the questions that follow:


Fabric for 1 quilt, R125; Thread, R3.40; Batting, R56; Embroidery, R5.60; Rent, R2 400 per month; Labour per quilt, R150; insurance, R300 per month. 5.1 Calculate the variable costs of 1 quilt.


5.2 Give Jenny advice on how to decide on her selling price. Give reasons for your answer.


(6) (8) [14] Total: 50 marks (4) [12]


Additional Term 3 control test 9780199052050_OS_Economics_7_TG_CAPS2017.indb 105


105 11/29/17 9:02 AM


TERM 4


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