‘orapes__ ECONORIC MANAGEMENT SCIENCE Novewaes 2017 ‘Time: 2 HOURS Manis: 200 Name: 13/y port Instructions: 4. AvsWen ALL QUESTIONS. 42. READ TH INSTRUCTIONS FOR EVERY QUESTIONS AND ONL ANSWER WHAT S REQUIRED aie aoa [rear) earner | achieved Max [isa [ae [60] ( ccnona Question (25 maanes—9 1am) | 14 Read the statement and choose the correct option, write your answer Inthe column provided next to the umber. —t | aa We wit iceue an org to the dabtor when thay return goods pn A metce © baienote LL Recto rete note [sa he one ewan acount ht hve aero ey sa pe Caters 1c" Ting tock tae sae 1.13 ted Assets wt appear wbih hart statent 113 praia asec Income Statement 8_ Balance sheet Tracing tent [4.24 The Thal Balance wil onl have: 44 A” ony Bcenuns © Band haccounte [8 onan Onveureneasets _—_—__—_| THE “babirsCnil arms pao A cument aete Operating income sas. 8 foes assets Operating expences L4.2. Read the statement in column A and use @ concept in column B that matches it T COLUMN A coun ANSWER 41.2:1 An operating expense wilbe a_aczourt A Nominal sheet | 124, 122 ‘canbe seen as acurent Tabi. section 1227 {123 Tnineoine Statemart wil not reflect ary __Beaccounts 8 Balance sheet | 1.2.3, 112.4 When we etum goods toa creditor we vl the ‘Section 124 |. gedtr. G FredAssets | 125 4.25 ny tem or money that tte awner takes ftom te business. | D Bank overcrat srilimpact F Debt F Great G Drawings aE 4.3. Read the paragraph below ane fill the missing words in. (The flow of money) ‘The government provides 1.3.1 to consumers and 132 to-cizens. Business pays salaries to workers and that is seen asa 133 Housahoids pay 13.4 tothe government, The ownerof a business wil contribute 1.355 tester risiher own business (1x5=5)QUESTION 2 ECONOMICS (PRICE THEORY) ~ 12 MARKS -7 MINUTES. ‘Based on the schedule below draw a Supply andl Demand Gurve for. “+ Indicate the point ofequilibrium on the graph, write down the co-ordinates and give an appropriate fabel as well, Price charged _|ouansty Demanded ‘Quantity Supplied 10 18 5 a 25 = - 60 WaQUESTION 3 - TRADE UNIONS ~14 MARKS ~ 8 MINUTES: 31 Give the full names of he abbreviated unions. (1: aaa 342 43:2 The government player an important role to protec the rights of niduals that forms part of our teow: orce by developing legisiaton, ist TWO of the laws that serves ths purpoe: (x2=2) 322. EES 3. Discuss the rights of workers. (2x2 4) 3a 332 a4 aaa 242 a 35. Ust TWO ioms that could be sean as organised industrial action, (1 x2 =2) ‘QUESTION 4—NCA~9 MARKS ~ 5 MINUTES J 44 Give TWO functions ofthe NCA (2%2=4) 44 4n2 a 42 Slate ONE aim ofthe NCA (121 =1) 42.4 — 4QUESTION 5 - SECTORS -‘O MARKS - 6 MINUTES 5.1 Define each of the THREE sectors 54.4. PRIMARY: es a) 5.4.2 SECONDARY: — ° 54.3 TERTIARY: - @ 5.2 Sustainabity is core wth he 3's, filin the missing word to complete the paragraph below. ‘We must practise 5.2.1 to ongure our natura! resources wil not be pleted. We 6.2.1 if we reduce the use of cortain raw material, Energy recovery is ab out 5.23 cettan goods and thus saving energy We eventually 6.2.4 cof goods and waste when we have no use fort QUESTION 6 ~ BUSINESS FUNCTION — MARKS 18 ~11 MINUTES 6.1 dently the type of dues that wil be done by a Pubic Relations officer. (2x2= 4) 82 Name and explain TWO diferent components of Administration (2 « 624 —_____® °683 Define the Purchasing fnctions. (2) a4 632. Give TWO things the purchasing officer wil hve to do before geting the tems requested by the various departments. (2x2 = 4) e321 9322 164 Define tha Financing fection (2)[QUESTION 7 ~ SWOT ANALYSIS — 8 MARKS -5 MINUTES Read the case study below ard find only ONE component per block. (24 ‘THE CORNER SHOP “The Corner Shop ran ino some financial dfcutie, they asked you to doa SWOT-analyss for them. During your investigation you dscovered afew areas of concern. The manager is always late Une nein and ala cannot entor the promices because he has the env key an lam password “The shap 50 mettes nay opens promply at 7am and never ose fr lunch, “The cashierhas no mathematical knowledge and often gives the wrong change to customers “Toe customers are arnoyed and some never retum tothe shop. “The shel-packer has extenaive knowledge of both Mathematics and Accourting, The Taining € Centre opposite the shop offers parttime courses in basic accounting. ‘STRENGTH: WEAKNESS: OPPORTUNITIES: THREATS: @xaeH [QUESTION 6 ECONOMIC SYSTEMS ~ 40 MARKS ~ 24 MINUTES (use the fli provided forthis_ question) ‘Based on ther economic lay-out each country decides which economic system they wou follow’ + Define each ofthe THREE systems: Planned, Market end Mix economy + Discuss the characteristics ofa Planned Economic system, ‘Discuss the Charactorstics ofa mixed economic system ‘+ Discuss the Disadvantages af a planned economy, ‘Discuss the advantages of a market economy.~ s : | es vs | rs — a a we earer js |e] 7 30 ___ won ee ‘yo wn Ke jou Sem 2y 841 paUIEYON | WOH/spo08 aN C6 (09 1 ssousng ext so} aUKEO-ALE NOME 78 06ey sede 3ouK SN SHI0, PEE CUNO SUL 1 -woenbe ex s0} popes es onsue xp eo ‘SBLNNIMN £- S>RUVW Z}~ NOLLYNDS ONLANNODOY ~6 NOLLSINDiNnowy | 76H Swiss 3Oois || TouINOD) Tea l ‘INTGSS swaNns [onara | | suosioay9 t “so Twnnor sows t Shwe} [SiwmoTW | Tod ‘se | iva | 500 201509, swousaa |_| ‘save [| saws [07 ‘via | ava) 300 401509, “so wnnunor zoNyMoTWY suoLE3a “40 Twnnor swouss0 SAAN Te-srINWY 9» Ot NoUSIND‘cREDITORS ALLOWANCE JOURNAL OR ‘eacorrons | | TRADING SUNDRY ACCOUNTS oc] pay | oerans fot| como. |_| stock sranonany |_[DETANS rou | swounr T (CASH PAYMENTS JOURNAL OF T 7 saNr pank | TRADINGS carorrons || ACCOUNTS oc |ay| peraus | 0. Tock wases| | conmmon | _[oetans Fou | amount T t 1 7 | | | |u | L ‘Sivid0 || Youinos |“) -saivs | [Saws] |e |] Sta | Tr Sia) wa [Soa Sines) | svousia 20 0 ‘voNns 4s02| | sssirviy sO WHnor StADIH HSH[QUESTION 11 - GENERAL LEDGER ~ 16 MARKS ~ 12 MINUTES (GENERAL LEDGER OF ror______— ss_TRADING STOCK 3) 112 cOSTOF SALE 2{QUESTION 10 - SUBSIDIARY JCURNALS~ a6 MARKS ~31 MINUTES sealable susan out in your queston ppt twit phe ranscton low:The Nak por faving Taoens 2 ‘80 NOT TOTAL THE JOURNALS 1 sued ot oma et ton iS wedi tae p 9 ft ne Vater dey 6 ere ers 52 Anime 65235 was ksuad to Meemal who bought goeds worth REOD from us. 7 cabahtoamiiy tacts ete enn Satta et nomena Bought Stationery R46) and Trang Steck R3 200 from S Benjemin 19 creaesesseotetiasen, | 22 Mrsanan tna 6 worth goots nd we ives Cred Note ONS 23 Bought and paid 3 10010 K. Chapman fo Trading Stock 27 Recied Taig stot we ordered om Wir Manel 850 29 Received an Invoice rom June R060 for Reps onthe business vehi. 30. Received a Credit Not from V. Manuel or R185 for the Trang Stock we retumed that we bought onthe 2h. I B[QUESTION 11 - GENERAL LEDGER-16 MARKS 12 MINUTES ‘Below is an extract fal the Jounal of Bes sn Al se the information below to complet th TWO accounts. sua Wadg stock 112 costof sales “An exractofthe oping balances of Bes and Al for 2* October 2017: redngsok ht cee oat tesa esr oan ral aan ss ont onsen [contin | See ae os a ‘cash Receipts Journal of Bas a Al 7 conof | Sales Sales ——inse700 [n2380 _ cash Payments Journal of Bland ll Trading [eestor oak stock ations [Rag Ris | [Rams | 486 crestor Journal of Bes ane Al f Sadiy crnators acing |_| rane deta Fone ‘rater | Stock |iosn re nisi | [ass EC ‘reitors Allowance Journal Bells and All retors contrat | Packing Material | reading stock _ mses [Rut is u