Test 2022

G08 ~ Economic and Management Sciences

TASK 2: Term 1 test

ECONOMIC AND MANAGEMENT SCIENCES

GRADE 8
TASK 2: TERM 1 TEST

EXAMINATOR: R. Fox TIME: 1 hour

MODERATOR: D Van Niekerk TOTAL: 50

INSTRUCTIONS

1. This question paper consists of THREE sections and FOUR questions:

1.1 Section A: Contextual questions
1.2 Section B: The Economy
1.3 Section C: Financial literacy
2. Answer all the questions of each section, unless otherwise stated.
3. Number each question as indicated.
4. It is in your own interest to write neatly and legibly.
5. Rule off after each question.
6. Start each section on a new page.
7. Only use a blue ballpoint pen.
8. Draw a clear line through work that is not to be marked.
9. Use the attached answer sheet to complete question 4.
10. Only a non-programmable calculator may be used for this question paper.
11. All calculations must be shown to earn full marks.

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G08 ~ Economic and Management Sciences

SECTION A: CONTEXTUAL QUESTIONS

QUESTION 1

1.1 Match the descriptions in column B with the terms in column A. Write only the
correct letter (A–F) next to the question number (1.1.1–1.1.5), e.g., 1.1.6 G.

COLUMN A COLUMN B
The responsible use and management of natural
Self-sustaining
1.1.1 A resources to ensure that future generations can
community
continue to benefit from these resources.

Modern A sparsely populated area outside a city or town,

1.1.2 B
community characterised by farms and open spaces.

A community that can sustain and survive –

1.1.3 Sustainability C
without any help from outside.

A community characterised by its high level of

1.1.4 Rural community D development and availability of specialised
facilities and services.

1.1.5 Natural resource E Gold, water, coal, trees, plants, and the animals.

(5 x 2) = (10)

1.2 State whether the following statements are true or false. Write only ‘true’ or
‘false’ next to the question number (1.1.1–1.1.5).

1.1.1 Capital is the money that someone uses to pay their business’s creditors.

1.1.2 Recycling is the processing and conversion of waste products.

1.1.3 A trial signature is when an authorised person signs payments on behalf of

the business.

1.1.4 The correct account used to record money the owner withdraws for their
own use is known as ‘personal use’.

1.1.5 A transaction is any negotiation involving money. (5 x 2) = (10)

[20]

TOTAL SECTION A: 20

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G08 ~ Economic and Management Sciences

SECTION B: STANDARD OF LIVING

QUESTION 2

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

Unemployment is a big problem in South Africa.

The unemployment rate in South Africa was
23.69% at the end of 2011.

Job creation is an important part of reducing

inequality and poverty by enabling more people
to participate in the economy. However, it is
important that the work created in South Africa
is sustainable.

The problem in South Africa is that there are jobs

available but that businesses in the medical,
engineering and education sectors cannot find
the people with the right skills to employ. The
(Source: https://bit.ly/3k8lriw)
millions of unemployed people in South Africa
are simply not skilled enough to do the job.

2.1 Define the term ‘workforce’. (2)

2.2 Make a clear distinction between ‘unemployment’ and ‘unemployment

rate’. (2 x 2) = (4)

2.3 The unemployment level is measured by the unemployment rate.

Job creation is one of the key elements of South Africa’s economy.

The government strives to implement the unemployment program.

What does the government expect to be solved by implementing this

specific program? (4)
[10]

TOTAL SECTION B: 10

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G08 ~ Economic and Management Sciences

SECTION C: FINANCIAL LITERACY

QUESTION 3: ACCOUNTING COMPARISON

Indicate the correct classification of the following terms (3.1–3.6) according to the terms in
the word bank below:

Assets | Liabilities | Ownership Equity | Income | Expenses

3.1 Capital

3.2 Equipment

3.3 Advertisement

3.4 Drawings

3.5 Property and buildings

3.6 Overdraft bank account (6 x 1) = [6]

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G08 ~ Economic and Management Sciences

QUESTION 4: CASH SOURCE DOCUMENTS

4.1 Complete the receipt on the attached answer sheet by using the information
provided:

On 6 April 2020, ADAM GARDEN SERVICES will receive R1 500 for services
rendered by W. Kally. The cashier, G. Green, issues receipt no. 6. (7)

4.2 Answer the questions on the following cash register slip:

SPAR
Ferndale
Tel: (012) 165 5585 Fax: (012) 185 5556
Vat no: 484275681

Pepper R 7,12
Cinnamon R 5,67
Butter R 8,99
Brown bread R 12,99
Toilet paper R 32,65
5 TOTAL R 67,40
ROUNDED TOTAL R 67,40
CASH R 200,00
Tax code Taxable amount Tax
VAT (12%) R 59,31 R 8,09
No VAT R 8,09 R 0,00
Total VAT R 8,09
CHANGE R 132,60
---------------------------------------
Cashier: Susan
12:58:28 18-07-2012

Thank you for your support!

(Source: https://bit.ly/3tDOUV1)

4.2.1 On what date did the transaction take place? (1)

4.2.2 What does the abbreviation ‘VAT’ stand for? (2)

4.2.3 What is the total amount payable? (2)

4.2.4 Why should customers keep cash register slips in a safe place? (2)
[14]

TOTAL SECTION C: 20

GRAND TOTAL: 50
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G08 ~ Economic and Management Sciences

ANSWER SHEET

NAME: _____________________________ STUDENT NUMBER: ________

QUESTION 4

4.1 ADAM GARDEN SERVICES R C

RECEIPT

727 Bekker Street Nr. _____

Cape Town
1053 Date: __________

Received from: _________________________

Amount: _________________________

For: _________________________

With thanks: _________________________

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