Question 3   Select the correct option.  

  Section B: Longer questions     Question 4: Factors of production 4.1 Read the case study below and quote evidence from the section that corresponds to the FOUR factors of production.  Case study: (4)   Amos, the car guard at Checkers, sees that many of the cars are full of dust and mud. He notices a nearby tap and starts a car wash. He will wash the vehicles while the owners are busy with their shopping. He invests in a decent and sturdy garden hose, bucket and some good soft brushes. On busy days, he gets another car guard, William, from the nearby block to help him.    

EMS_GR8E_JUNE EXAM_2021_ANSWER SHEET.docx   UPLOAD YOUR ANSWER SHEET AS A PDF DOCUMENT AFTER YOU HAVE COMPLETED SECTION C. Name your document as follow: NAME AND SURNAME_EMS_JUNE EXAM 2021_SECTION C

2.8 America is an example of a developed country. (1)

2.10 The first step in the accounting cycle is a transaction that takes place. (1)

3.4 Change in the “till” or cash register is called cash float / petty cash. (1)

4.2 Name the compensation for each factor of production. (4)      

3.10 EFO = Electronic Fund Transfer / Electronic Financial Agreement. (1)

3.1 The customer receives the original/duplicate cash register slip and the business keeps the other one. (1)

3.6 The amount paid to workers on a monthly basis is called salaries/wages. (1)