ECONOMIC AND MANAGEMENT SCIENCES
GRADE 9: PAPER 2
JUNE 2024
EXAMINATION
DURATION: 60 MINUTES
MARKS: 50 MARKS
SURMAME & NAME
CLASS
QUESTION
1
2
3
4
5
TOTAL
MARKS
ALLOCATED
10
5
5
10
20
50
MARKS
OBTAINED
INTERNAL
MODERATOR
INSTRUCTIONS AND INFORMATION
1.
This paper consists of both question-and-answer book.
2.
Answer ALL questions.
3.
Use a blue ink
4.
Write neatly and legibly
8 Pages
SECTION A
QUESTION 1
(10 marks; 12 minutes)
Multiple choice: Circle the correct answer.
1.1.1. Business aim is to make a
A. Profit
B. Earns
C. Spend
D. Produce
1.1.2. The remuneration for capital as a factor of production is
A. Rent
B. Salaries and wages
C. Interest
D. Profit
1.1.3. The following type of business is not part of the tertiary sector
A. Health care
B. Oil refinery
C. Wholesalers
D. Financial institutions
1.1.4. A free-market economy can also be referred to as
A. Communist
B. Marxist
C. Socialism
D. Capitalist
1.2.5. Which industry and economic sector benefited most from the 2010 World Cup
soccer tournament?
A. Raw material; primary
B. Motor vehicle; secondary
C. Food processing; secondary
D. Tourism; tertiary
MARKS
05
2
1.2.
Match Column A with the descriptions on Column B. Write only letter on the
space provided. E.g. 1.1.6. H
(5)
Column A
Column B
Answer
1.2.1
Quantity demanded will
increase if the price
decrease.
A
Law of supply
1.2.1
1.2.2
It includes all industries
that take raw materials
from the earth.
B
Secondary sector
1.2.2
1.2.3
A place where the factors
of production are bought
and sold
C
Law of demand
1.2.3
1.2.4
Energy, water, and raw
material
D
Goods and service
Market
1.2.4
1.2.5
A place where buyer and
seller meet to exchange
goods and services at a
price
E
Resources
1.2.5
F
Primary sector
G
Factor market
MARKS
05
TOTAL MARKS
3
10
SECTION B
QUESTION 2: ECONOMIC SYSTEMS
2.1
(5 marks; 6 minutes)
Define the term economic problem.
2
2.2. Refer to the image below and answer the questions below
2.2.1. In a planned economy, the__________takes full responsibility for solving
the economic problem.
1
2.2.2. Discuss ONE advantages of a planned economy.
2
MARKS
05
4
QUESTION 3: CIRCULAR FLOW
3.1
(6 marks; 7 minutes)
Define the term circular flow
2
3.2 Give One example of public good
1
3.3 Name Three participants in a closed economy
3
MARKS
06
5
QUESTION 4: PRICE THEORY
(10 marks; 12 minutes)
Study the supply and demand graphs and answer the questions that follow
600
500
PRICE
400
300
200
100
0
0
100
200
300
QAUNTITY DEMANDED
4.1
AND
400
500
600
QAUNTITY SUPPLIED
Show the following points on the graph for the demand and supply indicate
only the letter on the graph.
Market Equilibrium (E)
Demand curve (D)
Supply curve (S)
6
4.2 How much is the Equilibrium Price?
2
4.3 How many jackets will be supplied at a price of R200?
2
MARKS
10
6
QUESTION: 5 ENTREPRENEURSHIPS
(19 marks; 23 minutes)
The mining industry in South Africa has been historically significant and continues
to play a crucial role in the country’s economy. Economic Contribution mining
has been a cornerstone of the South African economy for decades, contributing
significantly to GPD, employment, and export earnings. It remains a key driver of
economic growth and development in the country. Global influence South Africa
is a major player in the global mining industry, with its mineral exports contributing
significantly to internal markets. The country’s mining companies operate both
domestically and internationally, with investments in various regions around the
world.
5.1.1 What does globalization mean ?
2
5.1.2 Name TWO things mining contribute towards the economy of the country
2
5.1.3 Why is Sustainable Use of Natural Resources Important?
2
7
Picture A
Picture B
Picture C
5.2.1 Identify the picture above with any business sector.
Picture A:
3
Picture B:
Picture C:
5.2.2 Identify the level of labour that is represented in picture A and B
Picture A:
4
Picture B:
5.2.3 The economic sectors are interrelated and depend on one another for
survival. Briefly explain this statement
6
MARKS
19
8
0
