GENERAL EDUCATION AND TRAINING · GENERAL EDUCATION AND TRAINING DURATION: 2 HOURS MARKS: 200 ECONOMIC AND MANAGEMENT SCIENCES FINAL EXAMINATION NOVEMBER 2015 GRADE 9 QUESTION PAPER

GENERAL EDUCATION AND TRAINING

DURATION: 2 HOURS

MARKS: 200

ECONOMIC AND MANAGEMENT SCIENCES

FINAL EXAMINATION

NOVEMBER 2015

GRADE 9 QUESTION PAPER

NO. OF PAGES: 14 Question paper: pages 1 - 8

(Bind separately and collect for future revision) Answer sheets – pages 9 - 15

(Bind separately as an answer booklet)

NOV 2015 – GR. 9 EMS FINAL EXAMINATION Page 2

NOVEMBER 2015 – FINAL EXAMINATION

ECONOMIC AND MANAGEMENT SCIENCES DURATION: 2 HOURS GRADE 9 TOTAL: 200 Instructions: x Write your name and surname on your answer sheet. x Answer all questions on your answer sheet (page 9-15). x Write neatly and legibly (easy to read). SECTION A

1. Match the description in COLUMN A with the correct word/words in COLUMN B. Write only the applicable LETTER (e.g. M) next to the number on your answer sheet. (8 minutes)

COLUMN A COLUMN B 1.1 The state controls all factors of production. A Target market 1.2 Finding out what consumers really want. B Creditor 1.3 Mining, agriculture, forestry and fishing. C Debtor 1.4 Banking, transport, retailers and wholesalers

are activities found in the ….sector D Organising

1.5 A person who owes the business money. E Leading 1.6 When workers stay at home and refuse to go to

work in order to force the employer to agree to their demands.

F Control

1.7 To guide and influence workers to work more effectively.

G Secondary sector

1.8 Putting measures in place to ensure that workers work according to plan.

H Primary sector

1.9 The group of consumers that most probably will buy the product or service.

I Tertiary sector

1.10 Deciding who should do what, and when and how it should be done.

J Market research

K Stay-away L Market economy M Planned economy

(20) 2. Choose the correct answer and only write the APPLICABLE LETTER next to the

correct number on your answer sheet. (12 minutes)

2.1 In the simple circular flow model: A Households are sellers of resources and demanders of products. B Households are sellers of products and demanders of resources. C Businesses are sellers of resources and demanders of products. D Businesses are sellers of both resources and products.


2.2 Which of the following statements are correct? The participants in a closed economy are …. A Households, government and businesses. B Government and businesses. C Households, government, businesses and the foreign sector. D None of the above is correct.

2.3 The business function that involves the setting of long-term goals. A Administration B Marketing function C General Management function D Finances

2.4 The business function that liaises with trade union leaders about grievances. A Public relations B Human resource function C Marketing function D Finances 2.5 The business function responsible for sponsorships. A Marketing function B Production function C Purchasing function D Public relations

2.6 Which of the following will NOT be recorded in the Cash Payments Journal? A Cash purchases of Equipment B An increase in the owner’s capital contribution C An employee’s wages D Drawings by the owner

2.7 Which of the following statements are CORRECT? A In a planned economy the state controls all economic activity. B In a market economy prices are determined by demand and supply. C In a planned economy there is a more equal distribution of income. D All the statements are correct. 2.8 The selling price of credit sales will be posted as follows:

A Credit Sales and debit Cost of sales B Credit Trading Stock and debit Cost of sales C Debit Debtors control account and credit Sales account D Debit Sales and credit Cost of sales

2.9 Which of the following statements are CORRECT?

The National Credit Act ……. A will protect the consumer against exploitation. B will protect the seller against bad debts of debtors. C will lead to higher sales. D A and B are correct.


2.10 When a business pays a creditor an amount of R2 000: A The creditors’ account in the Creditors Ledger and the Creditors control account in the General Ledger, will be debited with R2 000. B The creditors’ account in the Creditors Ledger and the Creditors control account in the General Ledger, will be credited with R2 000.

C The creditors’ account in the Creditors Ledger and the Trading Stock account in the General Ledger, will be debited with R2 000.

D The creditors’ account in the Creditors Ledger and the Trading Stock account in the General Ledger, will be credited with R2 000. (20)

3. Study the following THREE transactions and complete the table on your

answer sheet: (6 minutes) Example: Receive money for services rendered, R8 000. 3.1 Bought office furniture from AB Wholesalers by cheque, R5 000 (2) 3.2 Cash sales of merchandise, R4 500. (Cost price, R3 000) (5) 3.3 Cash a cheque to pay the wages, R6 200. (3) (10)

4. Which of the following statements are TRUE or FALSE? Write only TRUE or

FALSE next to the applicable number on your answer sheet. (6 minutes) 4.1 Because of new technology books can be printed much faster, leading to an increase in the supply of books. 4.2 A reduction in the number of workers in an organization is called retrenchment. 4.3 Butter and margarine are complimentary goods. 4.4 The law of supply states that the quantity supplied will decrease when the price of

the product increase. 4.5 The total of the Debtors list at the end of the month and the final balance of the Debtors control account at the end of the month, must always be the same.

(10) TOTAL SECTION A: 60

SECTION B: THE ECONOMY 5. Trade unions (12 minutes) (20)

5.1 Explain the negative effects that strikes and protests can have on:

5.1.1 Businesses (3 x 2 = 6) 5.1.2 Workers (3 x 2 = 6) 5.1.3 Job creation in SA (2) 5.2 Define the following terms: 5.2.1 Trade union (2) 5.2.2 A go-slow (2) 5.2.3 A lock out (2)


6. Circular flow diagram (4 minutes) (6) Explain the effect that an increase in income taxes of households will have on the following participants in the economy: 6.1 The government (2) 6.2 Households (2) 6.3 Businesses (2) 7. Demand and supply (8 minutes) (14)

Study the picture and answer the questions that follow:

7.1 Choose the correct answer in brackets and write the answer next to the

correct number on your answer sheet: 7.1.1 The dotted line represents (an increase; a decrease) in the demand for meat. (2) 7.1.2 This change is caused by a change in (price; non-price factors) (2) 7.2 List THREE factors that can change the demand for meat in SA. (6)

7.3 Define the following terms

7.3.1 Market equilibrium price (2) 7.3.2 Demand (2)

TOTAL SECTION B: 40 SECTION C (FINANCIAL LITERACY) QUESTION 8: RECORD TRANSACTIONS IN THE JOURNALS (35 minutes) (50) INSTRUCTION: Record the following transactions, for November 2015, in the journals of Lucky Traders: 8.1. Cash receipts journal with analysis columns for: Analysis of receipts; Bank; Sales; Cost of sales; Debtors control and Sundry accounts. (17) 8.2. Cash payments journal with analysis columns for: Bank; Trading inventory; Wages; Creditors control and Sundry accounts. (14) 8.3. Creditors journal with analysis columns for: Creditors control; Trading inventory; Equipment and Sundry accounts. (11) 8.4. Debtors journal (8) Do not close off the journals, in other words, do not add up the columns!

DEMAND FOR RED MEAT:


INFORMATION: Only the first document numbers are supplied for the various journals. You need to complete the rest of the document numbers yourself. The profit mark-up is 100%. On 1 November 2015 the following balances appeared in the books of Lucky Traders: a) Debtors: b) Creditors: D Dladla R650,00 Super Stores R1 410,00 H Hadebe R850,00 M+M Traders R 2 972,50 N Nxumalo R422,00 Metro Wholesalers R5 543,50 Transactions: November 2015 1 The owner, Lucky Ngwenya, increased his capital contribution with R20 000, by

transferring the amount from his personal bank account to the bank account of Lucky Traders. Receipt no. 50 was issued to him.

3 Received H. Hadebe’s cheque, in settlement of his account on 1 November. Cash sales of merchandise according to the cash register roll, R6 500. (Cost price, R3 250). 4 Sent cheque 301 to M+M Traders in settlement of our debt on 1 November 2015.

Received merchandise, R3 110,50 and packing material, R170 from Metro Wholesalers and paid by cheque.

6 Received credit invoice no. 101 for R2 070 from Office Suppliers for a printer bought

on credit. (Invoice is already renumbered by the clerk in charge of the filing system) 8 Goods are sold on credit, issued invoices: No. 71 to D Dladla, R820 (Cost price, R410) No. 72 to H Hadebe, R1 400 (Cost price, R700) 11 Cash was received from D Dladla in settlement of his debt on 1 November 2015.

Part of the building is let to S. Small. Received the monthly rent of R3 500 and issue a receipt to him.

13 Paid wages by cash cheque, R2 600. 15 Purchased on credit and invoices received from: Metro Wholesalers for merchandise, R2 750. Super Stores for two office chairs, R2 700 and stationery, R220. 17 Cash sales according to the cash register roll, R8 400. (Determine the cost price) 21 Paid Metro Wholesalers R1 000 by cheque, as part payment of the business’s debt

on 1 November 2015. 23 Paid wages by cash cheque, R2 800. 27 Sold merchandise on credit to D Dladla for R2 400. (Determine the cost price) Paid the salary of S Swart, the manager, by cheque; R12 500. 28 Bought the following on credit from Super Stores: Goods, R3 660 and packing material, R340. 29 Paid the owner, Lucky Ngwenya’s personal cellphone account at MTN with a

business cheque, R680.


QUESTION 9: POSTING TO THE GENERAL LEDGER (7 minutes) (10) On 31 October 2015 the following column totals appeared in the different subsidiary journals of Nelspruit Traders:

Debtors Journal R c Sales 22 250 00 Cost of sales 11 125 00 Debtors Allowances Journal Sales 1 500 00 Cost of sales 750 00

Creditors Journal Creditors control column 33 000 00 Trading stock column 21 400 00

Cash Receipts Journal Bank 122 590 00 Debtors Control 76 350 00 Sales 46 240 00 Cost of sales 23 120 00

Cash Payments Journal Bank 113 450 00 Creditors Control 86 000 00 Trading Stock 25 800 00 Stationery 1 650 00

INSTRUCTIONS:

x Take all the above-mentioned information into account and complete the given accounts in the General Ledger of Nelspruit Traders ON THE PROVIDED ANSWER SHEET.

x DO NOT BALANCE ANY OF THE ACCOUNTS on 31 October 2015. TOTALSECTION C: 60 SECTION D (ENTREPRENEURSHIP) 10. Functions of a business (7 minutes) (13) 10.1 Indicate the business function that relates to the following: (8)

Choose from the following options: Production function; Public relations function; Human resources function; Risk management; General management function; Financial function; Marketing function; Purchasing function; Administration function.

10.1.1 Decide on a different price strategy. 10.1.2 Analyse costs to see why profits are declining. 10.1.3 Hiring more security guards. 10.1.4 Buying stock in bulk in order to negotiate better prices.


10.2 Study the picture below and explain what the administration function deals with. (5)

11. Business plan (8 minutes) (15) 11.1 Define the following concepts: 11.1.1 Mark-up (3) 11.1.2 Break-even point (3) 11.1.3 Feasibility study (2) 11.1.4 Advertising (3) 11.2 Explain the difference between fixed costs and variable costs. (4) 12. SWOT- analysis (8 minutes) (12)

Read the following case study and answer the questions that follow.

Ms Jabulile Gwebu started a hair salon in Ermelo in 2010. In 2015 she decided to expand her business to also include nailcare. She hires a business premises for only R1 000 per month and it is very near to her home. The Primary school is just around the corner and a Daycare facility is next to her business premises. Most of her clients need to drop off and pick up their children at the Primary and/or Daycare Centre every day. Many of her hair clients would like to support her nailcare business, because it will save them time when they can only sit for one hour and do both their hair and their nails at the same time. Everybody in Wesselton knows Jabulile, because of her talent and creativity with different hair styles. She did not have enough savings to pay for nail products and for the training course, and had to borrow money. During winter months there is no demand for pedicures, because ladies are not wearing sandals and do not need their toenails to be perfect. She plans to distribute flyers at the nearby Primary School and Daycare Centre to attract more clients. From August to December she can almost double her monthly income because of Matric Farewell parties, weddings and year-end functions of different companies. During January and February she normally makes only half of her income, due to the fact that people have spent too much money over Christmas and New Year. 12.1 List TWO strengths that will contribute to the success of this business. (4) 12.2 List TWO opportunities that can grow her business in future. (4) 12.3 List ONE weakness of this business. (2) 12.4 List ONE threat that can reduce her income. (2)

TOTAL SECTION D: 40

GRAND TOTAL 200


NOVEMBER 2015 - GRADE 9 EMS ANSWER BOOK

NAME: ____________________________________ GR 9 ___

SECTION A

1. Match the description in COLUMN A with the word/words in COLUMN B. Write only the correct LETTER next to the corresponding number.

No. Correct letter:

No.

Correct letter:

1.1

1.6

1.2 1.7

1.3 1.8

1.4 1.9

1.5 1.10 (20) 2. Choose the correct answer and write only the correct LETTER next to the question number in the block:

No. Correct letter:

No.

Correct letter

2.1

2.6

2.2 2.7

2.3 2.8

2.4 2.9

2.5 2.10 (20) 3. Study transactions 3.1 – 3.3 on page 4 and complete the table: (10)

No. General ledger Accounting equation

Account debited Account credited Assets Owners' equity Liabilities

E.g. Bank Current Income +8 000 +8 000

3.1 Bank

- 5 000

3.2 Bank

+ 4 500

- 3 000

3.3

Bank


4. Write TRUE or FALSE in the applicable block:

No. True / False?

4.1

4.2

4.3

4.4

4.5 (10) TOTAL SECTION A: 60 SECTION B THE ECONOMY 5. Trade unions (12 minutes) (20) 5.1.1 Negative effects of strikes and protests on businesses: (3 x 2 = 6)

5.1.2 Negative effects of strikes and protests on workers: (3 x 2 = 6)

5.1.3 ONE negative effect of strikes and protests on job creation in SA: (2)

5.2.1 Trade union:

(2) 5.2.2 Go-slow:

(2)

5.2.3 A lock-out:

(2)


6. Circular flow diagram (4 minutes) (6) 6.1 Effect of an increase of income tax on the government:

(2)

6.2 Effect of an increase of income tax on households:

(2) 6.3 Effect of an increase of income tax on businesses:

(2)

7. Demand and supply (6 minutes) (14) 7.1.1 7.1.2 (4) 7.2 List THREE factors that can change the demand for meat in SA:

(3 x 2 = 6) 7.3.1 Market equilibrium price:

(2)

7.3.2 Demand:

(2)

TOTAL SECTION B: 40 SECTION C FINANCIAL LITERACY

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QUESTIO

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NS IN THE JOURNALS

(35 minutes)

(50)

CASH RECEIPTS JOURNAL O

F LUCKY TRADERS - NOVEM

BER 2015

CRJ11 Doc no.

Day Details

Fol. Analysis

of receipts

Bank Sales

Cost of sales

Debtors control

Sundry accounts Am

ount Fol.

Details

(17)

DEBTORS JO

URNAL OF LUCKY TRADERS - NO

VEMBER 2015

DJ11 Doc no.

Day Debtors

Fol. Sales

Cost of sales

(8)

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CASH PAYMENTS JO

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VEMBER 2015 CPJ11

Doc no.

Day Nam

e of payee Fol.

Bank Trading

inventory W

ages Creditors control

Sundry accounts Am

ount Fol.

Details

(14) CREDITO

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Day Creditor

Fol. Creditors control

Trading inventory

Equipment

Sundry accounts Am

ount Fol.

Details

(11)

QUESTION 9 (7 minutes) (10) TRADING STOCK / TRADING INVENTORY

2015Oct 1 Balance b/d 150 000 00

2015 Oct 31

31 Bank

(7)

DEBTORS CONTROL 2015Oct 1 Balance b/d 89 000 00

2015 Oct 31 Bank CRJ 76 350 -

31 Sales

(3)

TOTAL SECTION C: 60 SECTION D: ENTREPRENEURSHIP 10. Functions of a business (7 minutes) (13)

10.1.1 10.1.3 10.1.2 10.1.4 (8) 10.2 Describe the administration function:

(5)

11. Business plan (8 minutes) (15)

11.1.1 Mark-up:

(3) 11.1.2 Break-even point:

(3) 11.1.3 Feasibility study:

(2) 11.1.4 Advertising:

(3)

NOV 2014 – GR. 9 EMS FINAL EXAM PAPER Page 15

11.2 Difference between fixed and variable costs:

(4) 12. SWOT-analysis (8 minutes) (12)

Read the case study on page 8 and answer the questions that follow below the case study.

11112. 12.1 TWO strengths:

(4) 12.2 TWO opportunities to grow the business:

(4) 12.3 ONE weakness:

(2)

12.4 ONE threat that can reduce her income:

(2)

TOTAL SECTION D: 40

GRAND TOTAL 200

GENERAL EDUCATION AND TRAINING

DURATION: 2 HOURS MARKS: 200

ECONOMIC AND MANAGEMENT SCIENCES

FINAL EXAMINATION NOVEMBER 2015

GRADE 9 MEMORANDUM

NO. OF PAGES: 8

NOV 2015 – GR. 9 EMS FINAL EXAM: MEMORANDUM Page 2

FINAL EXAMINATION 2015 - GRADE 9 EMS MEMORANDUM

SECTION A

1. Match the description in COLUMN A with the word/words in COLUMN B. Write only the correct LETTER next to the corresponding number.

No. Correct letter:

Correct letter:

1.1 M √√ 1.6 K √√

1.2 J √√ 1.7 E √√

1.3 H √√ 1.8 F √√

1.4 I √√ 1.9 A √√

1.5 C √√ 1.10 D √√ (20) 2. Choose the correct answer and write only the correct LETTER next to the question number in the block:

No. Correct letter:

No.

Correct letter

2.1 A √√ 2.6 B √√

2.2 A √√ 2.7 D √√

2.3 C √√ 2.8 C √√

2.4 B √√ 2.9 D √√

2.5 D √√ 2.10 A √√ (20) 3. Study transactions 3.1 – 3.3 on page 4 and complete the table:

No. General ledger Accounting equation

Account debited

Account credited Assets Owners'

equity Liabilities

E.g. Bank Current Income +8 000 +8 000

3.1 Equipment √ Bank

+5 000√

- 5 000

3.2 Bank Sales √

+ 4 500

+ 4 500√

Cost of Sales√ Trading Stock√

- 3 000√

- 3 000

3.3

Wages√ Bank - 6 200√ - 6 200√

(10)


4. Write TRUE or FALSE in the applicable block:

No. True / False?

4.1 True √√

4.2 True √√

4.3 False √√

4.4 False √√

4.5 True √√ (10) TOTAL SECTION A: 60

SECTION B THE ECONOMY 5. Trade unions (15 minutes) (20) 5.1.1 Negative effects of strikes and protests on businesses:

x They can go bankrupt due to loss of income for long periods. √√ x Their assets can be damaged by striking workers. √√ x They can lose contracts due to their inability to deliver when production stops. x They might need to retrench workers due to higher wages that they can’t afford

to pay to all workers. x Some workers might leave due to intimidation by workers. (any 3 x 2 = 6)

5.1.2 Negative effects of strikes and protests on workers: x They can be without an income income/wages for weeks.√√ x Some can loose their homes/properties as a result of not being able to pay

their loans for months. √√ x Some can be blacklisted for not being able to pay their accounts. √√ Then they cannot buy on credit again. x Some can be killed or get hurt during a violent strike. x Some can be fired/expelled from work due to illegal strikes. x Some can be arrested for damaging property and will find it difficult to get

employment in future with a criminal record. (any 3 x 2 = 6)

5.1.3 Negative effects of strikes and protests on job creation in SA: x Foreign investors will not open businesses in SA, due to high incidents of labour

unrest in SA. They will prefer to invest in other African countries with less labour unrest. √√

x Some businesses will have to close down, because they cannot afford the high wages demanded by trade unions. (1 x 2 = 2)

5.2.1 Trade union: x An organized association of workers from a particular trade or profession√,

with the aim of looking after the interests of its members. √ (2)

5.2.2 Go-slow: x When workers give less labour than they should, √ due to an issue in their

conditions of service that they are not happy about. √ (2)

5.2.3 A lock-out: x When employers refuse striking workers entry to the business premises. √√ (2)


6. Circular flow diagram (4 minutes) (6) 6.1 Effect of an increase of income tax on the government:

The government will have more money available to spend on infrastructure, education, health services, etc. √√

(2) 6.2 Effect of an increase of income tax on households:

Households will have less money to spend on goods and services. √√ (2)

6.3 Effect of an increase of income tax on businesses: Businesses will make less profits, because households will have less money to spend on goods and services. √√

(2) 7. Demand and supply (6 minutes) (14) 7.1.1 An increase √√ 7.1.2 Non-price factors √√ (4) 7.2 THREE factors that can change the demand for red meat in SA:

x Changes in the tastes of consumers. √√ x Changes in the habits of consumers, e.g. more health conscious. √√ x Appearance of substitutes, √√

(e.g. cheaper imported chicken) x Changes in the price of complementary goods.

(e.g. rice becomes very cheap). x Changes in the price of substitutes. (Cheaper chicken portions) x Changes in the income of consumers

(e.g. because of lower taxes or higher salaries) (any 3 x 2 = 6)

7.3.1 Market equilibrium price: The price at which the supply of and demand for a good/service are the same. √√ (2)

7.3.2 Demand: The quantity of goods or services that consumers are willing and able √ to purchase at different prices and at a specific time. √ (2)

TOTAL SECTION B: 40

SECTION C (FINANCIAL LITERACY)

QUESTION 7: RECORD TRANSACTIONS IN JOURNALS (50) Please note the following before marking the journals:

(a) If a learner writes only Rent, instead of Rent income in the CRJ, NO mark should

be allocated in the Sundry accounts details column. Likewise, if a learner writes 'personal use' instead of Drawings in the CPJ, no mark should be allocated in the Sundry accounts details. (b) If a learner totalled the journals, ignore it. No marks are allocated for the totals. They should learn to read instructions.

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QUESTIO

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(50)

CASH RECEIPTS JO


VEMBER 2015

CRJ11 Doc no.

Day Details

Fol. Analysis

of receipts

Bank Sales

Cost of sales

Debtors control

Sundry accounts Am

ount Fol.

Details 50

1 Lucky N

gwenya

20 000

√

20 000

√

Capital√

51 3

H H

adebe

850 -

850 √

CR

R

S

ales

6 500 -

7 350 √

6 500 √

3 250 √

90 11

D. D

ladla

650 -

650 √

91

S. Sm

all

3 500 -

4 150 √

3 500 √

R

ent income√

CR

R

17 S

ales

8 400 -

8 400 √

8 400 √

4 200 √√

√

√ for underlining at the end of each day

(17) DEBTO

RS JOURNAL O


BER 2015 DJ11

(8)

Doc no.

Day Debtors

Fol. Sales

Cost of sales

71 8

D. D

ladla

820 √

410 √

72

H. H

adebe

1 400 √

700 √

73 27

D. D

ladla

2 400 √

1 200 √√

√

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CASH PAYMENTS JO


VEMBER 2015 CPJ11

Doc no.

Day Nam

e of payee Fol

Bank Trading

inventory W

ages Creditors control

Sundry accounts Am

ount Fol

Details 301

4 M

+M Traders

2 972

50

2 972

50√

302

M

etro Wholesalers

3 280

50 √ 3 110

50√

170

√

Packing m

aterial√ 303

13 C

ash*

2 600 -

2 600 √

304 21

Metro W

holesalers

1 000 -

1 000 -√

305 23

Cash*

2 800

-

2 800

√

306

27 S

. Sw

art

12 500 -

12 500 √

S

alaries√ 307

29 M

TN

680

-

680

√

Draw

ings√

√

*both correct = √

(14)

CREDITORS JO


VEMBER 2015

CJ11 Doc no.

Day Creditor

Fol. Creditors control

Trading inventory

Equipment

Sundry accounts Am

ount Fol.

Details 101

6 O

ffice Suppliers

2 070 -

2 070 √

102 15

Metro W

holesalers

2 750 -

2 750 √

103

Super S

tores

2 920 √

2 700 √

220 √

S

tationery √ 104

28 S

uper Stores

4 000

√ 3 660

√

340

√

Packing m

aterial √

√

(11)


QUESTION 9: GENERAL LEDGER [10]

TRADING STOCK / TRADING INVENTORY 2015Oct 1 Balance b/d 150 000 00

2015 Oct 31 Cost of sales √ CRJ 23 120

-√

31 Bank CPJ 25 800 -√ Cost of sales √ DJ 11 125 -√

31 Creditors Control√ CJ 21 400 -√

(7)

DEBTORS CONTROL 2015Oct 1 Balance b/d 89 000 00

2015 Oct 31 Bank CRJ 76 350 -

31 Sales DJ 22 250 -√ 31 Debtors allowances √ DAJ 1 500 -√

(3)

TOTAL SECTION C: 60 SECTION D: Entrepreneurship 10. Functions of a business (10 minutes) (13) 10.1.1 Marketing √√ 10.1.3 Risk management √√ 10.1.2 Financial √√ 10.1.4 Purchasing function √√ (8) 10.2 Describe the administration function:

The process of collecting √, processing √, storing √, retrieving √ and distributing information √. (5)

11. Business plan (7 minutes) (15)

11.1.1 Mark-up: The difference between the cost price and the selling price, √√ expressed as a percentage and added to the cost price. √ (3)

11.1.2 Break-even point: It is the number of units sold at which income from sales equals the variable plus fixed costs. √√ At this point no profit or loss is made. √ (3)

11.1.3 Feasibility study: Research into whether a business idea is practical, √ possible or not. √ (2)

11.1.4 Advertising: A process of informing or reminding the public√√ about new or existing products or services in the market place. √ (3)

11.2 Difference between fixed and variable costs: Fixed costs must be paid, regardless of the number of goods produced or sold. √√ Variable costs increase if you produce more and decrease if you produce less. √√ (4)


12. SWOT-analysis (12) Read the case study and answer the questions that follow.

11112. 12.1 TWO strengths: x Her business premises is very near to her home. √√ x She pays only R1 000 rent per month. Her fixed costs are low. √√ x Everybody knows Jabulile, because of her talent and creativity with different

hair styles. (4) 12.2 TWO opportunities to grow the business:

x The primary school is just around the corner. √√ x A daycare facility is next to her business premises. √√ x Including manicures and pedicures will increase her income from established

clients. x She plans to distribute flyers at the nearby Primary School and Daycare centre. x Many weddings and year-end functions from August to December will give her

an opportunity to show off her skills and win more customers for the future. (4)

12.3 ONE weakness: x The owner does not have enough capital and will have to borrow money to

expand her business. √√ (2) 12.4 ONE threat that can reduce her income:

x During winter there is no demand for pedicures and her income will drop. √√ x During January and February she normally makes only half of her income,

because clients spent too much money in December (2) TOTAL SECTION D: 40

GRAND TOTAL 200

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GENERAL EDUCATION AND TRAINING · GENERAL EDUCATION AND TRAINING DURATION: 2 HOURS MARKS: 200 ECONOMIC AND MANAGEMENT SCIENCES FINAL EXAMINATION NOVEMBER 2015 GRADE 9 QUESTION PAPER