Column A
2.1 Profit 2.2 Budget
2.3 Production
2.4 Formal business 2.5 Tertiary sector
Column B
A It is a combination of income and expenditure. B Makro, Edgars, Spaza, Hairdresser C Outsurance, ABSA bank, Old Mutual D It is a combination of inputs and outputs. E It is a plan of future expenditure.
(10 × 2) [20]
Question 3: Select the correct word Select the correct word/ term in brackets. Write only the correct word/term next to the question number. E.g. 3.6 Test
3.1 Sales and rent received are both income for a (service/trading) business. 3.2 Financial records of a business include a (balance sheet/budget). 3.3 The use of human and (productivity/profit) 3.4 Electronic banking is also written as (ATM/EFT) 3.5 (Variable/Fixed) costs change when more articles are made.
Question 4
Fill in the missing word. Write only the word next to the question number. E.g. 4.6 Control
4.1 A business owner calculates profit by subtracting ... from income. 4.2 Capital is a ... in the business books. 4.3 Food and shelter are (secondary/primary) needs. 4.4 The challenge in (rural/urban) areas is to provide housing and employment. 4.5 A ... analysis is a test to see whether the business idea has the potential to succeed.
(5 × 2) [10]
(5 × 2) [10]
SECTION B: THE ECONOMY Colour Printers is a factory that prints magazines, books, advertisements and flyers.
Question 5 5.1 List TWO inputs used in the Colour Printers factory. 5.2 Discuss capital as a factor of production used in this business.
(2) (4)
5.3 Colour Printers is about to expand their factory to double their factory. A printing business uses vast amounts of paper and electricity. What effect will this expansion have on economic growth and the environment in this area? Give reasons for your answer.
Question 6 6.1 Explain how Color Printers can use recycling to satisfy the needs and wants of their customers.
(10) [16]
(4)
6.2 Suggest ways Color Printers can improve inequality and injustice in their business and in the area where their labourers live. Give reasons for your answer.
Additional end-of-year examination
9780199052050_OS_Economics_7_TG_CAPS2017.indb 109
(10) [14]
109 11/29/17 9:02 AM
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