WATERBERG DISTRICT
GRADE 7
ECONOMIC AND MANAGEMENT
SCIENCES
ASSIGNMENT
FEBRUARY 2023
MARKS:50
TIME: 1 HOUR
Name of learner
Name of school
This question paper consists of 5 pages
EMS/Assignment
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Waterberg District/February 2023
QUESTION 1: HISTORY OF MONEY
1.1
Read the following statements carefully and classify them as TRADITIONAL
SOCIETY or MODERN SOCIETY.
STATEMENTS
TRADITIONAL OR MODERN
SOCIETY
1.1.1 A period of time where goods were traded
for other goods.
1.1.2 The use of cell phone banking.
1.1.3 People use ATM to withdraw and deposit
money.
1.1.4 Communities reproduced goods and
services for their own needs.
1.1.5 The hunting and farming for food.
(5 x 1) (5)
1.2
Read the extract below and answer the questions that follow
HISTORY OF MONEY
Money, in some form or another, has been part of human history for at
least the past 5,000 years. Before that time, historians generally agree
that a system of bartering was likely used. Bartering is a direct trade of
goods and services; for example, a farmer may exchange a bushel of
wheat for a pair of shoes from a shoemaker
As time goes on, bartering became a problem. The system of exchange
has moved from swapping animal skins to minting coins to printing paper
money, and today, the society has shifted to massive electronic banking
or transactions.
[adapted from: https://www.investopedia.com/articles]
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Waterberg District/February 2023
1.2.1 List TWO examples of things that were used to trade during the bartering
system.
a.
(2)
b.
1.2.3 List any TWO characteristics of money
a.
b.
(4)
1.2.4 Mention TWO security features on a South African Banknote
a.
b.
(4)
1.2.5 What are the advantages of having paper money rather than metal coins?
a.
b.
(4)
1.2.6 Explain THREE advantages of using cell phone banking.
a.
b.
c.
(6)
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Waterberg District/February 2023
QUESTION 2: NEEDS AND WANTS
2.1
State whether the following statements are true or false
STATEMENTS
TRUE OR FALSE
2.1.1 Basic needs are things we can live
without.
2.1.2 An example of a basic need is water
2.1.3 A want is something that you cannot
live without
2.1.4 An example of a want is a car
2.1.5 Shelter is a basic need.
(5 x 1) (5)
1.2
Read the following extract and answer the questions that follow.
NEEDS AND WANTS
Needs are the basic requirements or necessities that are essential for one to survive
In other words, they are the things you have to have, or cannot do without. So, what
are the basic needs for a human being’s survival? As we all know, a human being
cannot survive without Oxygen, water and food. In addition to these three elements,
there are some other needs that are essential to live a healthy and happy life. Some
of these needs include basic health care products, clothing, tools to work, and
protective housing.
Needs can be classified into two types: subjective needs and physical needs. The
above-described needs such as food, water and clothing belong to physical needs.
These are the basic needs or physiological needs of a human being. Subjective
needs are the psychological needs of an individual. These include self-esteem, sense
of security and love.
Wants are desires. Wants are the things that you would like to have. But, they are not
essential to your survival. Every person has his own set of desires or wants. A big
house, fancy food, branded clothes; a new car, trip to a foreign country, etc. are some
of the wants that many people have.
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Waterberg District/February 2023
2.2.1 List any THREE examples of needs
a.
b.
(3)
c.
2.2.2 List any THREE examples of wants
a.
b.
(3)
c.
2.2.3 Differentiate between subjective needs and physical needs
(4)
2.2.4 What are the disadvantages of not satisfying basic needs
(4)
2.2.5 How does the government help communities to satisfy their basic needs.
a.
b.
(6)
c.
GRAND TOTAL:
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50