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Grade 9 EMS Exam Papers and Memos 2018 PDF Download - Learn and Master Economic and Management Sciences


Grade 9 EMS Exam Papers and Memos 2018 PDF Download




If you are a grade 9 learner who is studying Economic and Management Sciences (EMS), you might be looking for some past exam papers and memos to help you prepare for your tests. In this article, we will show you how to download and use the grade 9 EMS exam papers and memos 2018 PDF files that are available online. But first, let's see what EMS is all about and why it is important to study.


What is EMS and why is it important to study?




EMS is a subject that covers three main areas of study:




grade 9 ems exam papers and memos 2018 pdf download



  • The economy



  • Financial literacy



  • Entrepreneurship



The economy is the system that produces, distributes, and consumes goods and services in a society. Financial literacy is the ability to manage your personal finances effectively. Entrepreneurship is the process of creating, running, and growing your own business.


EMS is important to study because it helps you to:


  • Understand how the economy works and how it affects your life



  • Develop the skills and knowledge to make informed financial decisions



  • Identify and pursue business opportunities that can improve your livelihood



  • Become a responsible citizen who contributes to the economic development of your community



What are the benefits of using past exam papers and memos?




Past exam papers and memos are previous questions and answers that were used in official exams. They are useful tools for revision because they help you to:


  • Review the topics that you have learned in class



  • Practice your exam techniques and time management skills



  • Identify your strengths and weaknesses in each topic



  • Improve your confidence and reduce your anxiety before the exam



How to download and use the grade 9 EMS exam papers and memos 2018 PDF files?




To download the grade 9 EMS exam papers and memos 2018 PDF files, you can use the following links:



TopicPaperMemo


The Economy


Financial Literacy


Entrepreneurship


After downloading the files, you can use them in the following ways:


  • Read the questions carefully and try to answer them without looking at the memos.



  • Check your answers with the memos and mark your own work.



  • Analyze your mistakes and learn from them.



  • Repeat the process until you master all the topics.



The Economy




In this section, we will review some of the topics that you have learned about the economy, such as the history of money, needs and wants, and goods and services.


The history of money




Money is anything that is widely accepted as a medium of exchange, a unit of account, and a store of value. Money has evolved over time from different forms and systems.


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Bartering, commodity money, and fiat money




Bartering is the direct exchange of goods and services without using money. For example, a farmer might trade some eggs for some bread with a baker. Bartering has some limitations, such as the need for a double coincidence of wants, the lack of a common measure of value, and the difficulty of storing and transporting goods.


Commodity money is any good that has intrinsic value and can be used as money. For example, gold, silver, salt, and cattle have been used as commodity money in different times and places. Commodity money has some advantages, such as being durable, divisible, portable, and scarce. However, it also has some disadvantages, such as being subject to fluctuations in supply and demand, quality, and purity.


Fiat money is any legal tender that is issued by a government or a central bank and has no intrinsic value. For example, coins, notes, and electronic money are fiat money. Fiat money has some benefits, such as being easy to produce, control, and regulate. However, it also has some risks, such as being vulnerable to inflation, counterfeiting, and loss of confidence.


The functions and characteristics of money




Money performs three main functions in an economy:


  • Medium of exchange: Money facilitates trade by eliminating the need for bartering. It allows people to buy and sell goods and services easily and efficiently.



  • Unit of account: Money provides a common measure of value that can be used to compare the prices of different goods and services. It allows people to calculate their income, expenses, profits, losses, etc.



  • Store of value: Money allows people to save their wealth for future use. It preserves its purchasing power over time.



For money to perform these functions effectively, it must have certain characteristics:


  • Durable: Money must be able to withstand wear and tear. It must not deteriorate or decay over time.



  • Divisible: Money must be able to be divided into smaller units. It must be able to accommodate transactions of different sizes.



  • Portable: Money must be easy to carry and transfer. It must not be too heavy or bulky.



  • Scarce: Money must be limited in supply. It must not be too abundant or too rare.



  • Acceptable: Money must be widely accepted by people as a means of payment. It must have legal status and public confidence.



  • Uniform: Money must be standardized in quality and quantity. It must have consistent features and markings.



Needs and wants




Needs are things that are essential for survival, such as food, water, shelter, clothing, health care, etc. Wants are things that are desirable but not necessary for survival, such as entertainment, education, travel, etc.


The difference between needs and wants




The difference between needs and wants is based on subjective preferences and circumstances. What is a need for one person might be a want for another person. For example, a car might be a need for someone who lives in a remote area with no public transportation but a want for someone who lives in a city with good public transportation. Similarly, what is a want for one person might be a need for another person. For example, a smartphone might be a want for someone who only uses it for entertainment but a need for someone who uses it for work or education.


How to prioritize needs and wants





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