Question 5: Markets [10] 5.1 Read through the scenarios and identify the buyers and sellers.   5.1.1 Marcell bakes cupcakes. She brings it to school to sell breaks. Her fellow students pay R10 per cupcake and Marcell earns R120 per batter.  (2)

5.1.2 Read through the scenarios and identify the buyers and sellers. Oratile takes a taxi to school every day. He pays R10 to the taxi driver for the trip. (2)

  Question 3 [10]   Select the correct option.  

  Section B: Longer questions     Question 4: Factors of production [10] 4.1 Read the case study below and quote evidence from the section that corresponds to the FOUR factors of production.  Case study: (4)   Amos, the car guard at Checkers, sees that many of the cars are full of dust and mud. He notices a nearby tap and starts a car wash. He will wash the vehicles while the owners are busy with their shopping. He invests in a decent and sturdy garden hose, bucket and some good soft brushes. On busy days, he gets another car guard, William, from the nearby block to help him.    

2.8 America is an example of a developed country. (1)

EMS_GR8E_JUNE EXAM_2021_ANSWER SHEET.docx   UPLOAD YOUR ANSWER SHEET AS A PDF DOCUMENT AFTER YOU HAVE COMPLETED SECTION C. Name your document as follow: NAME AND SURNAME_EMS_JUNE EXAM 2021_SECTION C

2.10 The first step in the accounting cycle is a transaction that takes place. (1)

4.2 Name the compensation for each factor of production. (4)      

3.4 Change in the “till” or cash register is called cash float / petty cash. (1)

3.10 EFO = Electronic Fund Transfer / Electronic Financial Agreement. (1)