DEPARTMENT OF BASIC EDUCATION
ECONOMIC AND MANAGEMENT SCIENCES
QUARTERLY ASSESSMENT
Controlled test for Term 1
MARCH 2016
GRADE 8
NAME: ………………………………………………………………..
GR. 8: …………..
SCHOOL: …………………………………………………………….
DURATION: 1 HOUR
MARKS: 50
ECONOMIC AND MANAGEMENT SCIENCES
CONTROLLED TEST
Instructions:
1. Read all the questions very carefully.
2. Make sure your NAME and CLASS appears on this question paper.
3. Answer all the questions on the question paper on the spaces provided.
4. Write neatly and legibly.
5. Check your answers before you hand in your paper to your teacher.
SECTION A
QUESTION 1 (ALL TOPICS)
State whether the following statements are TRUE OR FALSE.
1.1 Economic growth is the increase in the economic activity of a country so that it
produces more goods and services in a specific year than the previous year.
_____________________
1.2 Current assets are the possessions of a business available to be used for more
than a year e.g. land and buildings, vehicles and equipment.
____________________
1.3 The payee is the owner of a cheque account, who instructs his/her bank to pay a
specific amount to the payee.
____________________
(6)
2016 MARCH - EMS GR. 8 CONTROLLED TEST
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QUESTION 2
DEFINE the following terms.
Terms
Examples
Definitions
2.1.1
Assets
2.1 2
Sole Trader
2.1.3
Subsidiary Journal
2.1.4
Self-sufficient
societies
2.1.5
Social welfare
(10)
2016 MARCH - EMS GR. 8 CONTROLLED TEST
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2.2
If a business receives cash, there are source documents that serve as proof.
Name TWO (2) of these source documents:
(2)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
2.3 If the formula for the accounting equation is: A = OE + L; what will the formula
be if it starts with: L = ?
(2)
___________________________________________________________________
___________________________________________________________________
TOTAL SECTION A: 20
SECTION B
(THE ECONOMY)
QUESTION 3 (Standard of living)
Unemployment is a serious problem in a country and can indicate that the economy
is not healthy or that the economy is struggling. It is also a situation whereby people
are willing and able to work, are looking for a job, but are unable to find a job.
3.1 Name the THREE (3) causes of unemployment.
(6)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
3.2 Give TWO (2) reasons why some people earn more money and can therefore
maintain a higher standard of living than others.
(4)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
QUESTION 4 (The national budget)
In this year’s national budget, the government expenditure might be reduced
drastically, because of low economic growth in South Africa, which leads to lower
government income from taxes.
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4.1
Give THREE (3) suggestions of how government expenditure can be reduced
in the next financial year.
(6)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
4.2
Explain the difference between direct and indirect taxes.
(4)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
4.3
Give TWO (2) examples of indirect taxes.
(2)
___________________________________________________________________
___________________________________________________________________
QUESTION 5 (Government)
5.1 Name the THREE (3) levels of government.
(3)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
5.2 Give ONE (1) example of what government can do to protect our environment
against pollution.
(1)
___________________________________________________________________
___________________________________________________________________
5.3 Give TWO (2) examples of what government can do to protect our scarce
resources, like water.
(4)
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
TOTAL SECTION B: 30
GRAND TOTAL= 50
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