Grade 7 · CAPS
Grade 7 Entrepreneurship
Economic and Management Sciences practice questions with answers
Grade 7 Entrepreneurship is part of the CAPS Economic and Management Sciences curriculum, covering the foundational aspects of starting and managing a business. Learners will explore the four basic actions every entrepreneur carries out to run a business — buying, producing, selling and making a profit — and examine the characteristics and skills of a successful entrepreneur. They will also work through real-life scenarios, such as how an entrepreneur saves and reinvests money to grow their business.
The practice questions below are drawn from ReClass's own question bank.
Worked example
3.1 How do we distinguish between a formal and informal business? Provide three points under each heading.
Answer & explanation
Formal business: has formal procedures, a permanent address, keeps official records, pays taxes, uses sophisticated marketing methods (any 3). Informal business: no formal set-up, can move around, keeps no records, pays no tax, uses unsophisticated marketing methods (any 3).
You'll also practise
- 3.5 Discuss four effects that natural disasters and health epidemics have on businesses.
- 5.3.1 How did Abdul save money for what he needed?
- 5.3.2 What “investments” did Abdul make to help his business grow?
- 8.1 Provide a detailed explanation of an entrepreneur.
- 8.2 List the four entrepreneurial actions.
- 8.3 Explain the term advertising.
- 8.4 List the 4 “P”s of marketing and provide a brief explanation of each.
- 9.1 What is the role of a manager?
- 9.2 Why is it necessary to treat customers in a polite manner?
- 9.3 Elaine often changes the menu. Provide two reasons why this is good for their business.
- 9.4 Draw a business logo for Elaine and Sally’s restaurant.
- 9.5 What award did Pamela win?
- 9.6 Why do you think Pamela needed financial help with her business?
- 9.7 Do you think Pamela inspires her community? Provide a reason for your answer.
- 9.8 Define the term perseverance.
- 9.11 What is the name of the teenager’s business?
- 9.12 In a short paragraph, discuss the growth of their business.
- 5.1 Give a clear, concise definition of an Entrepreneur.
- 5.2 Name three characteristics of a successful Entrepreneur.
- 5.3 Name four skills of a successful Entrepreneur.
- 5.4 Explain the four basic actions that all entrepreneurs carry out in order to run their business.
- 5.5.1 List five strengths that Moses has, that will help him to make his business a success.
- 5.5.2 List two weaknesses that Moses has.
- 5.5.3 Name one opportunity that will be good for his business, in the future.
- 5.1 An ____________________________ is a person who owns his own business.
- 5.2 A very important entrepreneurial skill is the ability to think __________________.
- 5.3 Starting a business requires careful thought and _________________________.
- 5.4 In order for a business to make a profit, it must fulfil the needs and wants of their ____________________________.
- 5.5 Business people must set ________________ with timelines and aim to achieve these with a careful plan of action.
- 6.1 Name and explain three characteristics that would describe an entrepreneur?
- 6.2 Explain each criteria in the SWOT analysis.
- 6.3 List the four actions that an entrepreneur must perform.
- 6.4 Name the four criteria in the AIDA Principal.
Common mistakes
- Confusing the four entrepreneurial actions (buying, producing, selling, profit) with general management functions.
- Misidentifying characteristics of an entrepreneur, such as mixing personal traits with business skills.
- Overlooking the importance of saving strategies in entrepreneurial planning.
- Struggling to articulate the concept of business growth in a structured paragraph.
Aligned to CAPS Grade 7 Economic and Management Sciences — Entrepreneurship.
Check your own understanding
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