Grade 7 EMS Term 2 Test + Memo
About this resource
Help your Grade 7 learner prepare for Term 2 Economic Management Sciences (EMS) with this comprehensive 80-mark practice test, complete with a full memorandum. The test has a duration of 90 minutes and includes a balanced combination of recall, understanding, application and higher-order reasoning questions.
The test covers:
- Basic economic concepts
- Needs and wants
- Primary needs
- Economic goods
- The economic problem and scarcity
- Modern societies and standards of living
- The poverty line
- Labour and the workforce
- Retailers and the tertiary sector
- Sustainability
- Promissory notes
- Income and expenses
- Fixed and variable expenses
- Personal budgets
- Saving and spending
- Revenue
- Sole proprietorships
- Service businesses
- Franchises
- Market research
- Business plans
- Assets and liabilities
- Fixed and current assets
- Long-term and current liabilities
- Income and expense accounts
- Classifying accounts
- Statement of Net Worth
- Calculating assets, liabilities and net worth
- Entrepreneurship and small businesses
- Business income, expenses and profit
- Marketing and promoting a business
- Poverty and inequality in South Africa
- Socio-economic imbalances
- United Nations Millennium Development Goals
- Unemployment in South Africa
- The impact of COVID-19 on employment
- The role of banks in the economy
- Ways of addressing unemployment
- BBBEE, ATM, EFT and EPWP
Total: 80 marks | Duration: 90 minutes | Full memorandum included | PDF format.
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