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GRADE 9 REVISION QUIZ TERM 2 2024 Flashcards | StudBud
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GRADE 9 REVISION QUIZ TERM 2 2024
GRADE 9 REVISION QUIZ TERM 2 2024
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1
The following is not an example of public goods and services:
Municipal transport.
Government schools.
Building of provincial roads.
A public company listed on the JSE.
2
Clean water and healthcare are examples of private goods provided by the government in the town.
False
True
3
When a debtor pays his debt in by EFT, the amount is not recorded in the Analysis of Receipts column.
True
False
4
Cost of sales is not calculated in the DAJ when damaged stock is returned.
False
True
5
The remuneration for the factor of production ‘Capital’ is:
Interest
Profit
Salary
Rent
6
Which of the following statements is correct? In the Circular flow model, households:
Save their money with financial institutions.
Receive goods and services from businesses.
Provide businesses with goods and services.
Do not interact with the government.
7
The circular flow diagram illustrates the interaction between:
Imports and exports only.
Businesses and natural resources.
Households, businesses, financial institutions and government.
Government and foreign markets.
8
The local bakery in town buys a new oven. Which option indicates the correct effect?
Assets +, Assets -
Assets -, Liabilities +
Assets +, Liabilities +
Assets +, Owner’s Equity -
9
Karl Marx is regarded as the father of Capitalism.
True
False
10
Market economies adapt quickly to economic change.
True
False
11
An advantage of a planned economic system:
A big variety of products are available.
Usually a low level of unemployment.
Everybody can open their own businesses.
Economic decisions can be taken quickly.
12
In a _____________ economy one will find duplication of goods and services which leads to a waste of natural resources.
mixed
market
closed
planned
13
The source document for credit sales is:
Bank statement
Cash register roll
Duplicate invoice
Original invoice
14
Credit sales are recorded on the
credit
side of the Debtors Control account.
True
False
15
South Africans can draw a free credit report from a credit bureau every six months.
True
False
