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EMS Grade 8
Test Description: EMS
Instructions: Answer all questions to get your test result.
1) what is an example of factor of production that is use in the production of goods and services
A
resources
B
Price
C
goods
D
costs
2) What is not a factor of production
A
Capital
B
labour
C
currency
D
Land
3) The amount of goods or services a consumer is willing to buy at a certain price is called
A
surplus
B
supply
C
discount
D
demand
4) The board of a private company must consist of at least ... director
A
2
B
5
C
1
D
3
5) Large public corporations in the public sector are known as
A
Parastatals
B
non-profit companies
C
corporates
D
public companies
6) If the Rand /US dollar exchange rate changes from R13.00 to R13,50 to the dollar then
A
exports to US will decrease
B
exports to US will increase
C
imports will increase
D
The number of American tourists will decrease to South AFrica
7) The public Sector in SA has how many levels
A
2 4
B
3
C
5
8) The Consumer Price Index (CPI) is
A
An indicator of referring to a statistical measure of change in the securities market
B
a fund with a portfolio constructed to match or track the components of a market index
C
a measurement of the value of a section of the stock market
D
a measure that examines the weighted average of the price of a basket of consumer goods and services
9) What is a mix economic system
A
does not share production between private and public sector
B
Reflects characteristics of captialism
C
Share production between private and public sector
D
Reflects characteristics of socialism
10) True of false - Capital goods are not tangible assets
A
No
B
Maybe
C
True
D
False
*select an answer for all questions
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