ENTREPRENEURSHIP MOCK TEST

South Africa is a __________.

• Monarchy

• Federal Republic

• Constitutional Democracy

• Dictatorship

How many branches of government are there in South Africa?

• Two

• Three

• Four

• Five

True/False: The President of South Africa is both the head of state and head of government.

Fill in the Blank: The __________ is the law-making body in South Africa.

A budget helps people manage their __________.

• Assets

• Expenses

• Goals

• Bills

When creating a budget, what should be considered first?

• Savings

• Income

• Entertainment

• Donations

True/False: A balanced budget has income greater than expenses.

Fill in the Blank: A budget helps individuals avoid __________.

Who creates goods or services for others to use?

• Producer

• Consumer

• Manager

• Stockholder

Consumers are people who __________ products or services.

• make

• sell

• use

• destroy