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EMS Grade 8

Test Description: EMS

Instructions: Answer all questions to get your test result.

1) What do business owners need to provide customers

AGoods only BBad service CNothing DGoods and services

2) The business uses factors of production. What is another name for factors of production

AProfits BResources CNone DSales

3) Often resources are short in supply. This is known as

ASupply and demand prinicple BNone Cscarcity DBank overdraft

4) What are the four factors of production

ACapital BNatural resources CLabour and Entrepreneurship DAll

5) What can Capital be?

AFinancial Capital (money) BNone CAll DMachinery to make goods

6) How many types of Capital is there:

A1 B3 C4 D7

7) Name the types of Capital

ABorrowed Capital BOther forms of Capital CAll DOwn Capital

8) Definition of Borrowed Capital

ANone BMoney that is a gift CMoney borrowed by the Business owner to establish and RUN the business DMoney that is received without needing to pay it back

9) Definition of own Capital

AMoney that the owner uses to start up his company BBanks are more willing to lend money to entrepreneurs who have invested some of their own money CThis money was saved and invested by the owner (entrepreneur) DAll

10) Definition of other forms of Capital

ABuildings, roads BMachines, Factories CGoods that help produce your product DAll

11) Capital goods have the following features

ANot used up immediately in the process of production BCan be used to produce other goods and services CHuman made, stock items and value can be calculated at a point in time

12) What is labour

AMental effort used to create both products and services BThe supply of labour depends on certain factors CThe physical and mental efforts used to produce goods and services DAll

13) Supply of labour depends on the following factors

ALevel of education and trainng BAll CSize of population DGeographical distribution in relation to businesses

14) Supply of labour depends on the following factors

ALevel of training and education BOrganisation of labour i.e trade unions CComposition of gender and age DAll

15) Labour Continuum

ASemi Skilled BSkilled CUnskilled Dall

16) Definition of unskilled labour

Ainvolve simple duties BAll CNo skills training or experience Deg. maid

17) Definition Semi Skilled labour

AAll BWorker that have more training and skills than unskilled worker CLess training than a skilled worker Deg. electrcian

18) How many Laws protect workers

A3 B4 C3 including the CCMA D5

*select an answer for all questions

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