ECONOMIC AND MANAGEMENT SCIENCES
GRADE 9
TERM1: ASSIGNMENT
MARKS: 50
SECTION A
QUESTION 1: THE ECONOMY
1.1.1 Name two countries that have a planned economy.
(2)
1.1.2 Explain the term economic system.
(1)
1.1.3 Name three disadvantages of a communist economy.
(3)
1.1.4 Fill in the missing characteristics in the table below.
Characteristics
Government control
Planned economy
Profit motive
Owners of factors of
production
Allocation of
resources
Prices
Market economy
No control- provide
public goods and
conducive economic
environment
Yes – the driving
force
Mixed economy
Government
Government has key
industries for whole
economy. Provincial
incentive schemes.
Competition and
market forces
(demand and supply)
determine the price
(10)
QUESTION 2: