WorksheetsGr8 EMS Final 24
Total questions: 25
Worksheet time: 13mins
What is democracy?
When citizens have no rights.
A system in which citizens have the right to vote, free speech and all human right are respected.
What is meant by the term 'hierarchy'?
LLL
KKK
What is meant by the term 'market'?
It's a place where people go to play.
It's a place where consumer buy goods and business sell goods and services.
What is a labour market?
It's a place where businesses by raw materials, etc.
A place where businesses go to get workers for their business e.g. agencies.
What is a financial market?
It is a place where businesses and people go to get loans, save their money, etc.
It's a place where you buy goods and services.
How does a person's lifestyle affect his/her ability to spend money.
The poorer you are the more you can afford to buy goods. Less money means living in a rich area.
When you have money, your can afford more things. You afford expensive goods and services.
What are the THREE levels of government?
International, Provincial and local
National, Provincial, Local
What are the responsibilities of local government?
To ensure communities have parks, fix potholes and ensure basic services are met.
To supply electricity, build bridges and airports.
What are the responsibilities of National government?
Ensure the country is protected, provide money for education, healthcare, policing, etc.
Ensure politicians in government have enough parties.
What is the name of the building which represents the country's democracy, freedom and non-racial ideals.
Tuynhuis
The Union Buildings
Where is South Africa's parliament?
Johannesburg
Cape Town
Which document is considered the be the supreme law of the country?
The Constitution
The Bible
When a country has less money to spend on essential services in it's national budget, is called a____
budget deficit
budget surplus
When a country has more money to spend in it's budget than needed, it's referred to as ___
budget surplus
budget deficit
What are the FOUR factors of production?
capital, labour, entrepreneurship, natural resources
capital, labour, gyms, clubs
The two components involved in the money cycle are:
boys and girls
households and business.
How does businesses and households interact with each other?
Households provide gifts to businesses and businesses throw parties at households.
Households buy from businesses. Businesses sell goods to households.
Name characteristics of a partnership.
It has two or more owners.
It has unlimited liability.
It has limited life span.
Has limited liability.
Has unlimited lifespan.
Give characteristics of a sole trader.
It has two owners.
Shares the profit with friends and family.
Makes decisions with other people.
It has only one owner.
Owner makes all decisions and provides all capital.
Keeps all the profit for him/herself.
Name the THREE levels of management.
Top, Middle and lower
High, Middle and bottom management
What is the function of a top manager.
Cares only about him or herself.
Makes decisions for friends and family
Makes decisions for the entire business.
Decide on the long-term future of the business.
Name characteristics of leadership.
Inspire and motivate followers.
Lead by example through their actions.
Guides followers to action.
Instruct followers what to do.
Name characteristics of management.
Inspire and motivate followers to action.
Lead through their actions
Guide followers to do things.
Instructs followers to action
How would you define 'factors of production"?
Are all the resources business use in the manufacturing of goods and services
Are all resources use for exercising.
What is meant the term "hierarchy"?
Where people have equal say in the business.
Where people at the top have the most authority than people below them.
