Economic Systems Grade 9 Questions and Answers EMS
List of Economic Systems Grade 9 Questions and Answers for Economic and Management Sciences
Name the four Factors of Production
- Capital
- Land
- Labour
- Entrepreneurship
Using your own words, provide a definition of a Planned Economic System.
- A Planned Economic System exists when a government controls and regulates all aspects of the planning and production of resources, as well as the manufacture, distribution and pricing of approved goods.
Do you think a Planned Economic System would suit a Democratic or a Communist Political System? Motivate your answer.
- A planned economy would suit a Communist Political System, because all aspects of the economy is controlled by the government. Decisions about which products are produced, quantities and for whom, are all taken by the government; the citizens have no choice but to comply.
Design a bumper sticker that is either in favour of or against a Planned Economic System.
- Learners may exchange work with friends to assess one another’s work.
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