A technique used in forecasting to predict the unknown by using facts or information that is known is called …
Goods which are regarded as socially harmful are known as … goods.
If national income increases by R200 million as a result of an investment of R50 million, what is the value of the multiplier?
When a price ceiling is imposed, that price must be … the market price.
The demand curve of a monopolist is the same as the … curve.
When the product mix does not reflect the consumers' taste it is known as … inefficiency.
The scorecard used to measure progress with Black Economic Empowerment (BEE) is published by the …
An argument in favour of the protection of local industries is ...
The most important function of the World Trade Organisation (WTO) is to …
Stagflation refers to …
Tourism …
Mineral resources are …
The exchange rate system where exchange rates are determined by the market forces of supply and demand
The mechanism that brings together buyers and sellers of goods and services
The Act that prohibits unfair discrimination in the workplace
Increased temperatures as a result of the depletion of the ozone layer
This type of tourism involves visiting undisturbed natural areas
Factors of production
Sanctions
Monopolistic competition
Globalisation
Negative externality
Recycling
Exogenous approach
Patent
Capital is traded in the (financial/goods) market.
The ratio between a country's export prices and its import prices is called the (terms of trade/balance of trade).
A deliberate measure to lower the value of a currency is known as (depreciation/devaluation).
Countries with fundamental balance of payments problems are usually assisted by the (World Bank/International Monetary Fund).
List any THREE factors that influence the supply of foreign exchange.
Who is the Minister of Finance depicted in the cartoon?
Explain the message conveyed by the cartoon.
The largest portion of government revenue is spent on education. In your opinion, has this benefitted the economy? Give possible reasons.
Define the concept balance of payments.
Calculate the balance on the current account for the second quarter of 2012.
Give a reason for the change in the trade balance between 2011 and 2012.
In your opinion, what can be done to ensure a surplus on the current account of the balance of payments?
Briefly explain how the South African government would apply fiscal and monetary policies (demand-and-supply side) to smooth business cycles.
Explain accountability and privatisation as problems of public sector provisioning.
In a monopoly market the marginal cost curve will always intersect the average (cost/revenue) curve at its minimum point.
Merit goods, for example education, is often (under/over)-supplied by the market.
Internal costs are also known as (social/private) costs.
A monopolist will maximise profit where marginal revenue equals (average/marginal) cost.
List THREE characteristics of an oligopoly.
Define the concept market failure.
Identify the causes of market failure depicted in PICTURES A and B.
Explain how production levels and the prices of goods and services will be affected if polluters are held responsible for Sipho's medical costs.
Which market structure do the above business enterprises represent?
What is the nature of the products offered in this market structure?
Identify the kind of profit that these business enterprises will make in the long term.
Explain how the business enterprises above can use non-price competition to increase their market share.
Discuss the role of the key institutions that regulate competition in South Africa.
Explain how natural and artificial monopolies act as barriers to other producers wanting to enter the market.
Economic development implies an increase in the capacity of (production/human capital).
Industrial development aims at increasing (exports/imports).
Tariffs that are calculated per unit or mass are known as (ad valorem/specific) tariffs.
Direct subsidies used in export promotion are (tax rebates/ cash payments) to exporters.
Name THREE growth sectors in South Africa that have the potential to create employment.
What type of indicator is shown by the bar graph above?
Explain the term poverty line.
What percentage (%) of the world population lives above the poverty line of $2 a day?
Name the economic concept which measures the extent of poverty in various countries.
Why do you think the poor find it difficult to escape poverty?
What portfolio is Trevor Manuel currently responsible for?
Which economic indicator from the extract can be used to compare standards of living?
How can the National Development Plan assist the promotion of small and medium enterprises (SMEs)?
How can the economy achieve an average growth rate of 5,4% per year?
Explain Black Economic Empowerment (BEE) as a development initiative.
Briefly discuss the North-South divide.
The inflation target for South Africa is currently (3–6%/2–5%).
The index that refers to the cost of production is called the (consumer/producer) price index.
Old-age pensioners and people with a fixed income will (benefit/suffer) from general price increases.
Taxes imposed on the output of goods that generate external environmental costs are called (green/income) tax.
List any THREE benefits of tourism to households.
Define the concept pollution.
In your opinion, why is Gold Reef City such a popular tourist destination?
How can the threat of rising acid water be solved?
What do you understand by the concept environmental sustainability?
Describe the messages conveyed by the cartoon.
In your opinion, what impact will climate change have on the environment?
Explain the effects of tourism on employment and poverty.
Explain how the granting of property rights by the public sector can achieve environmental sustainability.
The indicator that gives direction where the economy is heading is called a (leading/lagging) indicator.
Functions and ownership transferred from the private to the public sector is known as (nationalisation/privatisation).
The rent that an entrepreneur pays is regarded as an (explicit/implicit) cost.
Pollution is a form of a (private/social) cost.
List the THREE methods used to calculate the gross domestic product (GDP).
Which type of economy is represented by the diagram?
Label A and B in the diagram.
Identify ONE example of an injection in the diagram.
Explain the interaction between the business sector and the state.
What is the rationale behind the cost-benefit analysis?
Use the information in the table and draw a fully labelled bar graph, indicating cost and benefits for each alternative:Vertical axis: Costs/Benefits R million.
Scale 1 cm = 0,5 R million
Horizontal axis: Schools
Which school should receive the electricity?
Discuss labour resources and technology as reasons for international trade.
Distinguish between price leadership and cartels as forms of collusion.
Fiscal policy is an instrument used by government to influence the economy.• Discuss in detail the effects of fiscal policy, including a Laffer curve. (30 marks)
• To what extent was the South African government successful in the implementation of its fiscal policy? (10 marks)
Markets are at the centre of economic activities.• With the aid of graphs, analyse the different equilibrium positions (normal profit, economic profit and loss) of the individual firm under perfect competition.(30 marks)• Examine the conditions under which perfect competition successfully operates.(10 marks)
Regional industrial development refers to policies aimed at increasing the economic livelihood of specific areas.• Discuss regional industrial development in South Africa by focusing on the Spatial Development Initiatives and Industrial Development Zones. (30 marks)• How appropriate are the various financial incentives granted by the South African government for the establishment of new businesses? (10 marks)
Inflation is an economic problem that every member of society has experienced.• Examine the different measures to combat inflation. (30 marks)• Analyse the consequences of inflation on income and wealth. (10 marks)