Grade 9 Recap

Which of the following is one of the Economic Systems?

• Planned Economic System

• Market Economy

• Mixed Economy

• All of these options

What products are produced in a Market economy?

• Only what the Government allows

• All required items

• Only what the rich decide is required

• Nothing

One disadvantage of a Market System is ...

• People can work hard and become successful

• Entrepreneurship can lead to financial reward

• Little motivation to provide public services

• Resources are not wasted

If the price of petrol is set to go up next Wednesday, the demand for petrol will ...

• Decrease until next Wednesday

• Remain the same

• Increase next Tuesday

• Result in an increase in car sales

South Sudan, Chad, Brazil & South Africa are examples of ...

• First World Countries

• African Countries

• Second World Countries

• Third World Countries

Theoretically in a ___________ economic system there should be no unemployment.

• Mixed

• Capitalist

• Planned

• Market

If the price of Coca Cola where to increase to R24.99 for a 2 litre bottle, and the price Fanta were to decrease to 13,99 for a 2 litre bottle, the demand curve for Coca Cola would ....

• Shift to the left

• Stay the same

• Shift to the right

• affect the number of bottles produced

The demand curve has a ___________ gradient.

• Horizontal

• Negative

• Vertical

• Positive

Which of the following Entrepreneurial qualities would Elon Musk possess?

• Risk taker

• Flexibility

• Self-Reliance

• All of these

Which of the following would ensure you are developing the correct product for your target market?

• Loan applications

• Market Research

• Competitor Analysis

• None of these options