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Grade 7 EMS- Cycle 1 Test Flashcards | StudBud
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Grade 7 EMS- Cycle 1 Test
Grade 7 EMS- Cycle 1 Test
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Questions
30
Answers
1
Goods refers to physical items that are produced while services refers to
Items that can be seen, touched or held
Work done for others to provide something needed/wanted exchanged for money
Machinery and buildings
Natural resources
2
Who are the buyers and sellers in the factor market?
Buyers- person who buys goods from markets. Sellers- person who sell goods
Buyers- people who are producers. Sellers- people who are consumers
Buyers- households. Sellers- businesses who offer the goods and services
Buyers- businesses who hire workers. Sellers- households who provide labour
3
A person's lifestyle is dertermined by many factors. Which one is incorrect?
Their physical features such as hair colour
Moral standards
Level of income
Where they live
4
The 4 factors of production include:
Land, Labour, Households and Businesses
Land, Labour, Households and Entrepreneurship
Land, Goods, Services and Machinery
Land, Labour, Capital and Entrepreneurship
5
Toll tax is...
paid when items are imported into the country
paid when cars are filled with petrol
paid when people use the roads
paid when alcohol and cigarettes are purchased
6
Self-sufficient societies are...
Those societies that are found in rural areas
Those societies that usually buy goods and services that they need or want
Those societies that can sustain themselves
Those societies that make use of technology to produce and communicate
7
The 3 spheres of the government in South Africa are the local, provincial and national government.
False
True
8
The government is NOT responsible for
food
making laws
health
infrastructure
9
Indirect tax is a tax that you pay directly from your earnings.
True
False
10
Another term for factor market is
Resource market
Financial market
Capital
Product market
11
Industrial development negatively impacts the environment.
False
True
12
Producers want to maximise profit
True
False
13
The National Budget is the...
presentation on how much of money is needed for a business
documents provided to a business
listing of assets and liabilities
presentation on how much money is needed to run the country
14
A product market can be defined as
Market where there is an exchange of the services of a factor of production
Producers offering consumers a final good/ service in exchange for money
Market place where buyers and sellers trade assets such as shares
Flow of goods and services through the economy
15
Which one is not the 3 main sources of government income?
Corporate income tax
Personal income tax
sin tax
Value added tax
16
A high income earner
usually walks to work
usually travels with their own car to work
usually takes the train to work
usually asks people for a lift to work
17
The 3 main areas of government spending includes education, economic affairs and safety
True
False
18
How do factories destroy the environment?
pollute the rivers, land and sea
global warming
creates jobs
improves the lives of animals
19
The 3 different type of societies are modern day societies, rural socities and urban societies.
True
False
20
The 3 components to the government in South Africa include:
legislative, judiciary and local
legislative, executive and provincial
legislative, executive and judiciary
local, provincial and national
21
The highest law court in a country such as South Africa is the...
Supreme court
Constitutional court
Magistrates court
High court
22
Define the term "government"
how a person lives
a person who rules a country
the system by which a country or community is controlled
place where the people in charge only collect tax from people
23
The government spends money on 'human settlement' by...
eradicating squatter camps and offering housing to low-income groups
providing good health care
ensuring employment for all people
providing schools for all children
24
An example of indirect tax is VAT
True
False
25
"PAYE" stands for
Pay As You Exit
People and Youth Employment
Payment Additions You Earn
Pay As You Earn
26
The concept "lifestyle" is about how a person lives.
False
True
27
Labour refers to
The owner of the business
Physical and mental work
Natural resources
Machinery and buidlings
28
Labour and entrepreneurship are provided by the household sector in exchange for
interest and profit
wages and interest
profit and shares
wages and profit
29
The concept "market" refers to...
a place where people bargain only
a place where people go to buy fruits and vegetables only
a place where buyers and sellers come together to exchange goods or service
natural resources
30
A low income earner
attends the clinic and usually does not wait in long queues
attends the state clinic and waits in long queues
attends the private doctor or hospital
attends the private doctor and asks someone else to pay their bills
