QUESTION 1: MULTIPLE CHOICE 5 MARKS
Four options are provided as possible answers to the following questions. Choose the
correct answer and write the letter next to the question number. e.g., 1.1 D
1.1 If a business’ expenses are more than its income.
A Profit
B Loss
C Surplus
D Deficit
1.2 Money received by leasing out a part of the business building
A Current income
B Rent income
C Sales
D Profit
1.3 An example of a retail business.
A Café
B Plumber
C Doctor
D Teacher
1.4 Choose the answer that does not fit: SMART goals
A Specific
B Modern
C Realistic
D Timely
1.5 People save money for the following reason
A For children’s education
B To avoid inflation
C For unforeseen expenses
D To buy expensive items in the future
QUESTION 2: MATCHING 10 MARKS
Match the descriptions in column A with the terms in Column B. Write the letter
from column B next to the question number in column C.
Column A Column B
2.1 Any action (buying or selling) where money A. Production
is involved
2.2 Goods and services that are produced for B. Input
sale
2.3 The rate at which the price of goods and C. Resources
services rises
2.4 Work that is done directly with goods and D. Mass production
services being produced
2.5 How quickly inputs can be turned into E. Transaction
outputs
2.6 A machine that you can use to withdraw or F. Inflation
deposit money
2.7 The manufacture of goods and services that G. Productivity
can be used for sale or bartering
2.8 Land, raw materials, semi processed H. Outputs
materials
2.9 The resources and labour that a business I. ATM
needs to produce its goods
2.10 The effect of technology on production J. Labour
QUESTION 3: TRUE OR FALSE 5 MARKS
Identify whether the following statements are true or false. Write only the word ‘True’ or ‘False’
next to the question number.
3.1 Advantage of stokvels is that there’s no waiting period to get financial assistance.
________________________
3.2 Advertising is a way to sell products, but marketing is about identifying the customer and
making sure that the customer’s needs are met. ________________________
3.3 Entrepreneurs are people that want to start their own business but are afraid to take risks.
3.4 National youth development is aimed at reducing unemployment for youth at the age of
18 – 35.
3.5 Cost price is the difference between what was paid to make the product and the amount the
article is sold for.
Section B
Question 4 Entrepreneurship 20 MARKS
4.1 Define the term ' entrepreneur' (2)
4.2 Name any 2 characteristics of a successful entrepreneur (2)
4.3 Read the following case study and complete the questions that follow:
Rina is the owner of a Hair salon in a very big city. She is a talented hairdresser a lot of
regular clients. She struggles a bit with back problems and to work for 8 hours a day is
very difficult. Some of her employees resigned due to the fear of COVID 19 and she is
short of employees. She wants to expand her business, because she has a lot of extra
space. She also considering to start a nail salon in part of the building. She needs to
apply for a loan at the local bank to do the expansion. The outbreak of COVID 19 affected
her business badly and she was forced to close during the lockdown period. There is also
another hair and nail salon down the street that offers a free head massage with every
appointment. She decided to advertise her business to get more clients but are unsure of
how to design any advertisement.
4.3. 1. Use the table and do a SWOT analysis for the business.
Strength Weakness
Opportunity Threats
(8)
(4)
4.4 . The AIDA principle must be applied in any advertisement that a business design. Explain the
AIDA principle by naming the four elements. (8)
QUESTION 5: BUDGET 20 MARKS
Use the following information to prepare a cash budget for Naidoo Traders on 30 September 2021.
Naidoo Traders sell shoes and repair shoes.
Staff salaries R35 000
Bond repayment R8500
Leather purchases R 15 400
Sales of shoes for June is R85 750
Income on Shoe repairs for June is R4 800
Fabric purchases R2500
Water and electricity R3 100
Telephone R860
Shoelaces R975
Men’s Insoles R2300
Shoe glue R640
SECTION C
QUESTION 6: PRODUCTION 20 MARKS
6.1 Distiguish between renewable and non-renewable resources and provide and example for
each (4)
6.2 Name and explain 4 factors of production (8)
6.3 Discuss the disadvantages of the use of technoloqv in the production process. (6)
QUESTION 7 SAVINGS 20 MARKS
7.1 What is the name of the first bank in South Africa and when did it start to operate? (2)
7.2 Mention any 4 services offered by the bank (8)
7.3 Outline 4 advantages of stokvels (8)
7.4 Name any 2 organisation that promotes entrepreneurship. (2)
