ECONOMIC MANAGEMENT SCIENCE TASK TERM 3 TOTAL: 50

Submission date: 30 August 2024 Grade 7

Instructions:

1. Read each question carefully.

2. Answer ALL questions.
3. You are required to submit all planning for the Entrepreneur’s Day with this
assessment.
4. You are required to submit all evidence (photographs, purchase slips etc.) with
this assessment.
5. Use the rubrics for this assessment as a guideline.
6. You can type your work on MS Word, using Arial, 12/14 as a font.
7. Remember to submit your work, attaching all your work, sending it to you google
drive.
8. Remember to include pictures of your products that you wish to sell at a market.
As a grade 7 learner you are required to participate in your school’s Entrepreneur’s Day. You will need
to prepare for this event so that your business can be a success.

You will need to:

- Gather information (questionnaires) through market research.

- Decide what you are going to sell, based on the market research you have done.

- Decide on a price for the product you will be selling (remember: this will be based on the cost
price).

- Create an advertisement to advertise the products you will be selling.

- Draw up a budget showing your expenses and a budget showing your income.

- Decided if you will borrow money from your parents (you will need to pay them back) or use
your own savings to pay for the expenses.

- Set goals for your business.

- Remember to pay your non-refundable deposit for your table (R50).

Question 1
1.1 Draw up a questionnaire with 7 questions that you would like learners to fill in to gather
information about the community’s (the school’s) needs and wants. You are required to give
this to 5 learners at your school to fill out and submit completed questionnaires with your
assessment. Plan your questionnaire in the space provided below.

1.WHAT PRICE MUST I SELL MY PRODUCTS

2.WHAT NEIGHBOURHOOD IS SAFE TO START MY BUSINESS
3.WHAT TYPE OF CHOCOLATE AND SLUSHIE FLAVORS MUST I SELL
4.WHAT COLOR DO YOU THINK I MUST PAINT MY POSTER
5.WHAT TYPE OF NAIBORHOOD DO PEOPLE BUY THE MOST CHOCOLATE
6.DO YOU GUYS THNK IT AGOOD IDEA
7.WHOLD YOU GUYS BUY MY CHOCOLATE IF I MADE IT 10RAND
1.2 Identify 5 needs/wants that you have in the questionnaire that you could sell on
Entrepreneur’s Day.
Chocolate is a need slushies are both a need and a want so I have very few needs

And wants

Question 2
Draw up a SWOT analysis for your business. You must give 5 examples of strengths, weakness,
opportunities, and threats.

Strengths Weaknesses
We live in a Some people don’t
community with lots like chocolate
of shops
 Opportunities Threats
We live near very The chocolate
few chocolate factory could run out
fatories of business
 Question 3
Using the SMART method, set 5 goals for your business that you would like your business to achieve
for Entrepreneur’s Day.

Make over a 1thousand rands every month

Sell over 1hunderd slushies and chocolate

Make 2thousand rands

Question 4
Decide on the mark-up and selling price for the product(s) you will be selling
.
The price of the chocolate of a big chocolate is 20 the price of a small one is 15 the one of a big launch

Bar 10 rand for a small is 5rand the price of a slushie is 20 rand .

Figure 1

Create a poster, to advertise the product(s) you will be selling on Entrepreneur’s Day. Plan your poster in the space provided
Question 6

Budget for expenses

6.1 List your expenses (product and price) in the space provided below.
Ice which is 44 rand I bought 5 packets and chocolate which is 22rand I bought 50 bars.

Slushie flavors 39 each I bought 5 different flavors so is 195.

Electricity for 200 budget is1700

6.2 Create a budget showing your expenses. Include the quantity of each item bought. Remember
to include your slips.

Expenses
Items bought (expenses) Cost
Ice and slushie flavors 415
chocolate 1000
electricity 200

Total:
1615

Budget for Income

Create a budget showing your Income. Remember to include the number of items sold.

Income
Items sold (income) Cost
Big chocolate 400
Small chocolate 150
Small lunch bar 50
Big lunch bar and slushies 110

Total:
710
Calculate whether you made a profit or loss.
Write a small report about what you experience when planning for an Entrepreneur’s Day.
Excited that Im going to run my own business I cannot wait to sell chocolate
Grade 7 Market Day Assessment Rubric
Criteria Not Moderately Substantially Exceptional Leaner’s
Achieved Achieved Achieved Achievement Mark
0-1 2 3 4-5
Questionnaire No Questionnaire Questionnaire Questionnaire
questionnaire was submitted was submitted was submitted
included or with only 2 -3 with only 4-6 with 7
questionnaire questions. questions. questions.
only contains Questionnaire Questionnaire Questionnaire
1-2 questions. was only was was completed
No completed partially completed by 5 other
questionnaire completed and by at least 3 learners and
was submitted submitted with other learners submitted with
with assessment. assessment. and submitted assessment.
with
assessment.

Needs and No needs Only 2 needs Only 3 needs Learner has

wants or wants and wants and wants identified 4/5
identified and identified and identified and needs and
listed. listed. listed. wants and
Only 1 need or has listed the
want identified needs and
and listed. wants.
Poster No planning Limited Completed Completed
or poster planning and planning planning
included. incomplete and poster and poster is
poster included included.
included. but only Poster attracts
attracts some attention
attention and (Colorful)
some details and contains
are missing. all relevant
details (Store
name, prices,
product(s),
and any
promotions).
Budget No expenses 2 expenses ¾ of expenses All expenses
listed or 1 expense listed. listed. are listed.
listed. No budget Incomplete Budget is Budget is
included. No budget. completed. completed.
evidence of No evidence of Contains a few No errors. All
expenses expenses errors. evidence
(purchase slips) (purchase slips) Some evidence (purchase
included. included. (purchase slips) slips) included.
Shows no Shows no is included. Shows
calculations of calculations of Shows calculations of
profit/loss. profit/loss. calculations of profit/loss.
profit/loss.

SWOT Analysis No SWOT Incomplete Partial SWOT Detailed SWOT

analysis SWOT analysis. analysis Analysis is
completed. Only contains 2 completed. included.
Only contains 1 examples Contains ¾ of Contains 5
example off strengths, examples of examples of
of strengths, weaknesses, strengths, strengths,
weaknesses, opportunities, and weaknesses, weaknesses,
opportunities, threats. opportunities, opportunities,
and threats. and threats. and threats.

Goals – SMART No goals were Only 2 goals 3 goals listed 4/5 goals listed.
Method. listed listed
1 goal listed
Mark-up and No mark-up/ Only mark-up is Mark-up and Mark-up and
selling price selling price included or only selling prices are selling prices are
included. selling price is included but included. No
Only mark-up is included. shows few calculation
included or only Or calculation errors.
selling price is Mark-up and errors.
included. selling prices
are included
but shows
many
calculation
errors.
Evidence Does not include Incomplete Partially Completed
an Entrepreneur’s completed Entrepreneur’s
Entrepreneur’s Day report. Entrepreneur’s Day showing
Day report. Day report only findings,
showing sharing
findings experiences,
and sharing talking
experiences. about their
Entrepreneur’s
Day budget and
profit/loss and
how they would
improve their
business
experience.

Presentation Incomplete Incomplete Partially Completed

assessment. assessment. completed assessment.
Many aspects of Some aspects of All aspects of
assessment.
the the the
Entrepreneur’s Entrepreneur’s Most aspects of Entrepreneur’s
Day Day the Day
presentation are presentation are Entrepreneur’s presentation are
missing. missing. Day included. Work is
Presentation is Presentation is presentation are neatly
untidy. untidy. presented.
included.
Presentation is
tidy.