Business Studies - Grade 9

What is another name for a planned economic system?

• Capitalism

• Unregulated economy

• Communism

• Balanced economy

Which of the following best describes a free-market economy?

• The government makes all economic decisions

• Businesses operate with minimal government intervention

• The government and private sector share economic responsibilities

• Resources are equally distributed among all citizens

In a planned economy, who primarily decides what goods and services are produced?

• Private businesses

• Consumers through demand

• The government

• Foreign investors

Which of the following is a characteristic of a mixed economy?

• Only the government owns businesses

• Private businesses operate freely without any regulations

• Only individuals can own land and resources

• A combination of private and government control exists

Which of the following is an advantage of a free-market economy?

• Equal distribution of wealth

• High government control prevents exploitation

• Encourages innovation and competition

• The government provides all basic needs

Which of these countries operates primarily under a planned economy?

• United States

• South Africa

• North Korea

• United Kingdom

What is globalisation?

• The increase in domestic trade within a country

• The growing interdependence of economies, cultures, and populations worldwide

• The shift from a planned economy to a free-market economy

• The government taking control of international businesses

Which of these is an example of globalisation?

• A South African company outsourcing manufacturing to China

• A local farmer selling only to nearby villages

• The government banning certain items from overseas

• A company setting rules to only employ local workers

What is one way governments try to control globalisation?

• Completely stopping all imports and exports

• Imposing trade restrictions like tariffs and quotas

• Removing all regulations on international trade

• Only allowing businesses to operate in one country

Which international organisation is responsible for regulating global trade?

• World Trade Organisation (WTO)

• United Nations (UN)

• World Health Organisation (WHO)

• International Monetary Fund (IMF)