UNIVERSITY EXAMINATIONS UNIVERSITEMTSEKSAMENS UNISA ke PST311L OctoberiNovernber 2017 ECONOMIC LITERACY AND ENTREPRENEURSHIP Duration 2 Hours EXAMINATION PANEL AS APPOINTED BY THE DEPARTMENT 100 Marks Closed book examination ‘This examination question paper remains the property of the University of South Aftica and may not be removed from the examination venue This examination question paper consists of three (3) pages. INSTRUCTIONS V Answer ALL the questions V All the questions are of equal value (20 marks per question). [TURN OVER]2 PST3NIL October/November 2017 QUESTION 1 ‘Show how business ideas can be generated by using the following create methods you have encountered in Economic Literacy and Entrepreneurship 11 manipulating existing products 6) 12 attnbute analysis ©) 13. brainstorming 6) 14 metaphorical analogy (8) [20] QUESTION 2 Discuss the following charactensstics of an entrepreneur in relation to the reasons people have for starting their own business to generate work for themselves. 21 qualities and personality ©) 22 aptitudes, abilities and skills © 23 interest (8) 24 attitudes and values ©) [20] QUESTION 3 Nelson (1993) compiled a classification of values These values play a role in the choice of career Discuss each of the following values. 31 secunty “a 32 status oy 33 money (4) 34 independence () 35 sociabilty (4) (20) QUESTION 4 Do you agree with the statement that unemployment affects the economy of a country? Substantiate your answer by focusing on the following 41 results of unemployment (6) 42 causes of unemployment (8) 43° solutions to unemployment 6) {20} TTURN OVER]3 PST31IL October/November 2017 QUESTION 5 Producers are forced to make careful choices about what to consume and what to produce Furthermore, they need to decide how to produce and for whom What advice would you give to a beginner producer about the following factors? 51 What to produce (8) 52 How to produce it (6) 53 For whom to produce (6) [20] TOTAL: 100 MARKS First Examin Prof MW Lumadi Second Examiner: Prof MM van Wyk ° ‘UNISA 2017