GRADE 12
ECONOMICS
SECTION A REVISION 2022
This question paper consists of 30 pages.
Activity 1 (SCE May/June 2017)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Write down the question number (1.1.1–1.1.8), choose the answer and make
a cross (X) over the letter (A–D) of your choice in the ANSWER BOOK.
1.1.1
The circular-flow model of an open economy shows the functioning
of an economy that includes the … sector.
A
B
C
D
1.1.2
A diagram that shows expansion and contraction periods of
economic activities is called a(n) … cycle.
A
B
C
D
1.1.3
by legislation is
regulation.
deregulation.
centralisation.
decentralisation.
The term used to compare a country's export prices with its import
prices by means of indices is called the …
A
B
C
D
1.1.5
business
economic
productivity
inflationary
The removal of unnecessary restrictions
known as …
A
B
C
D
1.1.4
public
business
foreign
domestic
balance of payments.
terms of trade.
balance of trade.
exchange rate.
An example of a social indicator is …
A
B
C
D
education.
business confidence.
employment.
production.
1.1.6
An increase in the real value of production in a country is known as
economic …
A
B
C
D
1.1.7
Which strategy failed in its objective to halve poverty and
unemployment by 2014?
A
B
C
D
1.1.8
development.
growth.
integration.
prosperity.
New Growth Path (NGP)
Reconstruction and Development Plan (RDP)
Accelerated and Shared Growth Initiative for South Africa
(AsgiSA)
National Development Plan (NDP)
A purpose-built industrial estate physically enclosed and linked
to an international harbour or airport is known as a (n)…
A
B
C
D
corridor.
special economic zone (SEZ).
industrial development zone (IDZ).
integrated development plan (IDP)
(8 x 2)
(16)
1.2
1.3
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question number (1.2.1–1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Households
1.2.2
Nationalisation
1.2.3
Devaluation
1.2.4
Sanctions
1.2.5
Technology
1.2.6
Industry
1.2.7
Standard of living
1.2.8
Productivity
A
COLUMN B
penalty or punishment imposed by
one country on another for some
wrongdoing
B
decrease in the value of the rand in
terms of the pound due to market
forces
C
transfer of ownership from the private
sector to the public sector
D
consists of enterprises that produce
the same kinds of products
E
ratio between output produced in
the economy and input used to
produce them
F
new scientific knowledge in the form
of inventions and innovations
G
owners of the factors of production
H
expressed by the real GDP per
capita, life expectancy and level
of literacy
I
deliberate decrease in the value of
the currency in terms of another
currency
(8 x 1)
(8)
Give ONE term for each of the following descriptions. Write only the term next
to the question number (1.3.1–1.3.6) in the ANSWER BOOK.
1.3.1
A business owned wholly or partly by the state and run by a
public authority
1.3.2
The strategy used by the Reserve Bank that focuses on the
amount of money in the economy
1.3.3
The value of a country's currency exchanged for another currency
1.3.4
The process whereby people move from rural areas into towns
and cities
1.3.5
Labour force from the age of 16 to 60 years
1.3.6
Worldwide interaction of economies with trade as an important
element
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 2
SECTION A (COMPULSORY) ( SCE MAY/JUNE 2018)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, for example 1.1.9 D.
1.1.1
The practice of selling goods in a foreign country at lower prices
than in the country of origin is known as …
A
B
C
D
1.1.2
Savings flow back into the circular flow as …
A
B
C
D
1.1.3
public relations
trade
international
demand-and-supply side
When import duties are imposed as a percentage of the value of
the imported goods, it is known as … duties.
A
B
C
D
1.1.5
investments.
government spending.
exports.
imports.
The new economic paradigm that relates to the smoothing of
business cycles is rooted in … policies.
A
B
C
D
1.1.4
exportation.
dumping.
importation.
import substitution.
composite
specific
ad valorem
average
An increase in the productive capacity of the economy over a
specific period of time is called …
A
B
C
D
economic development.
spatial development.
economic growth.
developmental economics.
1.1.6
The interaction of economies with trade as an important element is
known as …
A
B
C
D
1.1.7
The number of employed persons as a percentage of the
economically active population (EAP) is called the …
A
B
C
D
1.1.8
employment rate.
economic growth.
productivity rate.
labour productivity.
value-added products in all
Economic activities which create
sectors is known as … development.
A
B
C
D
1.2
privatisation.
globalisation.
entrepreneurship.
export promotion.
social
employment
mining
industrial
(8 x 2)
(16)
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the
ANSWER BOOK.
1.2.1
1.2.2
COLUMN A
Monetary policy
A
Marginal propensity to
consume
B
refers to personal income after tax
has been deducted
C
removal of trade barriers
D
buying and selling of government
securities to influence the money
supply
E
approach taken by a country's
central bank to influence spending
in the economy
F
measures headline inflation
G
strategies used to encourage
production
H
trade policy that promotes the
manufacturing of local products for
foreign markets
I
proportion of their disposable
incomes that households spend
1.2.3
Terms of trade
1.2.4
Export promotion
1.2.5
Open-market
transactions
1.2.6
Incentives
1.2.7
Trade liberalisation
1.2.8
Consumer price index
(CPI)
COLUMN B
compares export prices with import
prices by means of indexes
(8 x 1)
(8)
1.3
Give the ONE term for each of the following descriptions. Write only the term
next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
A market for short-term savings and loans
1.3.2
A negative economic growth rate for at least two consecutive
quarters
1.3.3
A trade policy that discourages imports to guard domestic
industries from harmful foreign competition
1.3.4
The Act that promotes redress and transformation in the workplace
in terms of race, gender and disabilities
1.3.5
A policy that targets taxes and government expenditure to
influence economic activity
1.3.6
The migration of people from rural areas to cities and towns (6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 3 (SCE MAY/JUNE 2019)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
Labour can be bought and sold in the … market.
A
B
C
D
1.1.2
Comparative cost advantage shows that world output can increase
if countries … in what they do best.
A
B
C
D
1.1.3
goods
factor
financial
consumer
impose tariffs
limit the use of technology
specialise
protect workers
The medium-term expenditure framework (MTEF) is a …-year
government expenditure and revenue projection.
A
B
C
D
three
one
two
four
1.1.4
The peak of a business cycle is characterised by a …
A
B
C
D
1.1.5
An increase in the productive capacity of the economy over a
specific period of time is called …
A
B
C
D
1.1.6
Expanded Public Works
Critical Infrastructure
Small Business Support
Skills Development
An example of an economic indicator is …
A
B
C
D
1.1.8
contraction.
economic development.
economic growth.
globalisation.
Cost-sharing grants by government to improve roads is called
the … Programme.
A
B
C
D
1.1.7
high demand for credit.
stable inflation rate.
high unemployment rate.
low output.
sanitation.
population growth.
life expectancy.
production price index.
Social grants to the citizens of South Africa forms part of the …
policy.
A
B
C
D
monetary
trade
growth
fiscal
(8 x 2)
(16)
1.2
1.3
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Multiplier
1.2.2
Privatisation
1.2.3
Diverting trade
1.2.4
Free-floating exchange
rate
1.2.5
World Bank
1.2.6
Industrial development
zones (IDZ)
1.2.7
Employment equity
1.2.8
Consumer price index
(CPI)
A
COLUMN B
when a state-owned business is sold
to a private sector enterprise
B
bring disadvantaged groups to an
equal level in terms of hiring,
promotion and other aspects of
employment
C
responsible for infrastructure and
business investments in neglected
and underdeveloped areas
D
international institution established to
promote recovery and development
E
high quality standards are imposed to
make the importing of goods more
difficult
F
the value of a currency in terms of
another, that is determined by market
forces
G
measures price changes of an
average basket of goods and
services purchased by a consumer
H
a small initial increase in spending
produces leads to a proportionally
larger increase in aggregate income
I
industrial estates that are physically
enclosed and near to a harbour or
airport
(8 x 1)
Give ONE term for EACH of the following descriptions. Write only the term
next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
The total value of final goods and services produced within the
borders of a country in a given period
1.3.2
Predicting the future economic activities using facts or information
that is known
1.3.3
Record of all trade and financial transactions between a country
and the rest of the world
(8)
1.3.4
The increase in the standard of living of the people over a period of
time
1.3.5
Efforts by governments to move manufacturing and other
businesses from metropolitan areas to rural areas
1.3.6
It measures the distance between the peak and the trough of a
business cycle
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 4 (SCE MAY/JUNE 2021)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
Cycles that last 3–5 years and are caused by businesses adapting
their inventory levels:
A
B
C
D
1.1.2
A decrease in the value of the currency due to market forces is
known as …
A
B
C
D
1.1.3
revaluation.
devaluation.
appreciation.
depreciation.
Newly established firms that still need protection are called …
industries.
A
B
C
D
1.1.4
Jugler
Kitchin
Kuznets
Kondratieff
competitive
strategic
declining
infant
The continuous movement of factors of production, goods and
services among the participants in the economy is called …
A
B
C
D
leakages.
injections.
real flows.
money flows.
1.1.5
Service delivery to ensure the daily management of cities and
towns is the responsibility of the ... government.
A
B
C
D
1.1.6
A nationwide government intervention to create employment using
labour-intensive methods is known as the …
A
B
C
D
1.1.7
Black Economic Empowerment Programme.
National Skills Development Strategy.
Expanded Public Works Programme.
Joint Initiative on Priority Skills Acquisition.
Issues related to human well-being over a period of time are
monitored by using … indicators.
A
B
C
D
1.1.8
local
national
provincial
central
growth
social
economic
communication
A track of land that forms a passageway allowing access from one
area to another is called a/an …
A
B
C
D
corridor.
special economic zone.
spatial development initiative.
industrial development zone.
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question number (1.2.1 to 1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Embargo
1.2.2
Length of the
business cycle
1.2.3
Comparative
advantage
1.2.4
A
COLUMN B
when a country engages in foreign trade
and produces a given good at a lower
input cost than other countries
B
a complete ban imposed on the
importing of goods from a particular
country
Marginal propensity
to save
C
measured from peak to peak or trough
to trough
1.2.5
Non-rivalry
D
the proportion of income that households
do not consume
1.2.6
Wealth tax
E
consumption by one person does not
reduce consumption by another person
F
economic goods which do not take a
tangible and storable form
G
measured in terms of per capita real
gross domestic product
H
levied on properties according to their
market value
I
extensive increase in organised
economic activity to manufacture, mine,
farm and deliver services
(8 x 1)
1.2.7
1.2.8
Industrial
development
Services
(8)
1.3
Give ONE term for each of the following descriptions. Write only the term next
to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
The curve that indicates the relationship between the unemployment
rate and inflation rate
1.3.2
An economy that excludes the foreign sector
1.3.3
A strategy to strengthen the institutional capacity to deliver services
that facilitate economic and social development
1.3.4
A regional development initiative that attracts infrastructure and
business investments to neglected areas
1.3.5
A tariff based on a fixed amount per unit, weight or size that is levied
on imported goods
1.3.6
A business cycle approach based on forces inside the market
system
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 5 (NOV 2017)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
number (1.1.1–1.1.8) in the ANSWER BOOK, for example 1.1.9 D.
1.1.1
In an economy where injections exceed leakages, the …
A
B
C
D
1.1.2
Long-term funds are borrowed or saved on the ... market.
A
B
C
D
1.1.3
production of goods and services will decrease.
national income will increase.
national income will decrease.
gross value added in production will decline.
capital
money
foreign exchange
goods
Goods and services that benefit the society are called ... goods.
A
B
C
D
1.1.4
Economic integration where member countries agree on a common
economic policy is called a ...
A
B
C
D
1.1.5
monetary
growth
fiscal
economic
The number of years that a new-born baby is expected to live is
referred to as …
A
B
C
D
1.1.8
New Growth Path
National Development Plan
Expanded Public Works Programme
Reconstruction and Development Programme
Cash grants paid out to the poor form part of the … policy.
A
B
C
D
1.1.7
free-trade area.
custom union.
economic union.
common market.
Which government policy seeks to eliminate poverty and reduce
inequality by 2030?
A
B
C
D
1.1.6
demerit
harmful
common
merit
the mortality rate.
malnutrition.
obesity.
life expectancy.
The North-South divide can also be referred to as the … gap.
A
B
C
D
development
inflation
monetary
supply
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question number (1.2.1–1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Exogenous explanation
1.2.2
Leading indicators
1.2.3
Special drawing rights
1.2.4
Free-floating
1.2.5
Public goods
1.2.6
Nationalisation
1.2.7
World Bank
1.2.8
Repo rate
A
COLUMN B
liquid assets made available by the
IMF to finance deficits on the balance
of payments (BOP)
B
supplies financial development
assistance mostly to developing
countries
C
charged by the Reserve Bank to
other financial institutions for loanable
funds
D
markets are inherently stable and
need no government intervention
E
shows the direction in which the
economy might be heading
F
believes markets are inherently
unstable and government intervention
is necessary
G
the state takes ownership of privatelyowned enterprises and assets
H
exchange rate system where the
value of the currency is determined
by market forces only
I
provided by the government for use
by all members of society, for
example public libraries
(8 x 1)
(8)
1.3
Give ONE term for each of the following descriptions. Write only the term next
to the question number (1.3.1–1.3.6) in the ANSWER BOOK. Acronyms and
abbreviations will NOT be accepted.
1.3.1
Value of all final goods and services produced within the borders of
a country for a specific period
1.3.2
A curve that shows the relationship between tax rates and tax
revenue
1.3.3
A trade policy which promotes the replacement of imported goods
with locally produced goods
1.3.4
A spatial area for regional development that forms a passageway
1.3.5
Removal of unnecessary laws and regulations to improve the
functioning of the economy
1.3.6
Return of land to those who have lost it due to discriminatory laws
of the past
(6 x 1)
TOTAL SECTION A:
ACTIVITY 6 (NOV 2018)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
An open economy is best described as a … sector economy.
A
B
C
D
1.1.2
Investment is an example of a/an ... in the circular flow model.
A
B
C
D
1.1.3
one
two
three
four
leakage
injection
withdrawal
loss
Fiscal policy is an action taken by government in respect of
taxation and ... to influence economic activity.
A
B
C
D
exchange control
money supply
expenditure
credit control
(6)
30
1.1.4
Economies of scale are associated with …
A
B
C
D
1.1.5
Production by the citizens of a country, locally and abroad, is called
the … product.
A
B
C
D
1.1.6
spatial development initiatives.
industrial development zone.
special economic zone.
foreign investment grant.
The comparison of a country's export prices with import prices by
means of indexes is referred to as the …
A
B
C
D
1.1.8
gross national
gross domestic
net national
net domestic
A physically enclosed area next to a harbour or airport where
production for exports is encouraged through incentives, is known
as the …
A
B
C
D
1.1.7
mass production.
limited output.
long-term average cost increases.
increased wastage.
exchange rate.
conditions of trade.
terms of trade.
inflation rate.
Economic development is measured in terms of the …
A
B
C
D
per capita gross domestic product.
increase in the productive capacity.
nominal gross domestic product.
money supply.
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Nationalisation
1.2.2
Medium-term
expenditure
framework
1.2.3
System of national
accounts
1.2.4
A
COLUMN B
number of years a person will live after birth
B
persuasion of banks by the South African
Reserve Bank (SARB)
C
indicator used to measure the change in the
price of goods produced locally when it
leaves the factory floor
Money flows
D
measures income inequality and wealth
1.2.5
Protectionism
E
movement of income and expenditure
between participants in the economy
1.2.6
Gini coefficient
F
shows income and expenditure estimates
for a three-year period
G
prescribed by the United Nations to compile
gross domestic product figures
H
trade policy that tries to keep the domestic
economy safe by restricting the import of
goods and services
I
transfer of functions and ownership of
entities from the private to the public sector
(8 x 1)
1.2.7
Life expectancy
1.2.8
Production price
index
(8)
1.3
Give ONE term for EACH of the following descriptions. Write only the term
next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
A systematic record of all trade and financial transactions between
one country and other countries for a particular period of time
1.3.2
Money paid by the government to a person/institution without any
counterperformance
1.3.3
When a product is sold on a foreign market at a price that is lower
than the cost of production in the country of origin
1.3.4
Increase in the productive capacity of a country
1.3.5
The rate at which commercial banks borrow money from the South
African Reserve Bank
1.3.6
The policy
inflation
that
aims
to
stabilise
prices
by
combating
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 8 (NOV 2019)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
A period when there is a general increase in economic activities is
known as a(n) …
A
B
C
D
1.1.2
downswing.
upswing.
depression.
recession.
National income will increase when …
A
B
C
D
G + I + X > S + T + M.
G + I + X < S + T + M.
G + I + X = S + T + M.
S + T + M > G + I + X.
1.1.3
Indicators that change at the same time and in the same direction
as the economy changes are known as … indicators.
A
B
C
D
1.1.4
Where one country can produce goods or services cheaper than
another country within a given time period it is called …
A
B
C
D
1.1.5
foreign trade.
inflation.
money supply.
real GDP.
The Department of Trade and Industry initiative that focuses on
improving competitiveness in production is called the …
A
B
C
D
1.1.8
tax revenue and tax rate.
income and expenditure.
nominal and real figures.
tax revenue and wages.
Production, as an economic indicator, relates to …
A
B
C
D
1.1.7
comparative advantage.
absolute advantage.
terms of trade.
free trade.
The Laffer curve shows the relationship between …
A
B
C
D
1.1.6
leading
lagging
composite
co-incident
National Industrial Policy Framework.
National Research and Development Strategy.
Integrated Manufacturing Strategy.
Small Business Support Programme.
The demand-side policy relates to …
A
B
C
D
a reduction in costs.
improving the efficiency of inputs.
the influence on inflation and unemployment.
improving the efficiency of markets.
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the
ANSWER BOOK.
1.2.1
COLUMN A
Leakages
1.2.2
Exogenous approach
1.2.3
Human Development
Index
1.2.4
Extrapolation
1.2.5
Portfolio investment
1.2.6
Terms of trade
1.2.7
Gross domestic product
1.2.8
Deregulation
A
COLUMN B
estimate figures or trends in future
from facts that are known
B
a country's export prices are
compared to its import prices
C
the removal of laws, regulations and
bylaws by government
D
independent factors that influence
business cycles and originate outside
the economy
E
a trade policy where the state
discourages the import of certain
goods and services to protect local
industries
F
outflow of money from the economy
G
total value of final goods and services
produced within the boundaries of
a country for a specific period
H
buying of financial assets such as
shares in companies on the stock
exchange of another country
I
the well-being of people determined
by health, education and income
(8 x 1)
(8)
1.3
Give ONE term for each of the following descriptions. Write only the term next
to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
The initial change in spending produces a proportionately larger
increase in national income
1.3.2
The point where the economic contraction is at its lowest
1.3.3
A transfer of functions and ownership from the public sector to the
private sector
1.3.4
An increase in the price of a currency in terms of another currency
due to market forces
1.3.5
The movement of imports and exports between countries without
any restrictions
1.3.6
The social indicator that relates to the size of the country's
population
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 9 (NOV 2020)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
The difference in the value of the output at the peak and the value
of the output at the trough of a business cycle is known
as the …
A
B
C
D
1.1.2
One of the member countries of the BRICS Protocol is …
A
B
C
D
1.1.3
length.
trend line.
amplitude.
real output.
Japan.
China.
England.
Italy.
If the marginal propensity to consume (mpc) is 0,6 in a 2-sector
model, the marginal propensity to save (mps) will be …
A
B
C
D
4.
6.
9,4.
0,4.
1.1.4
Which ONE of the following is presented in October to inform
parliament of changes in the budget since February?
A
B
C
D
1.1.5
Long-term deposits of the domestic sector at monetary institutions
are part of the … money supply.
A
B
C
D
1.1.6
income levels.
preferences and tastes.
the size of the population.
labour resources.
An interest rate that commercial banks offer to their most valued
clients is called the … rate.
A
B
C
D
1.1.8
M1
M2
M3
M4
A supply reason for international trade is/are …
A
B
C
D
1.1.7
Main budget
Medium-term Budget Policy Statement
Medium-term Expenditure Framework
National budget
prime
repo
fixed
preference
Which ONE of the following is classified as excise duties?
A
B
C
D
Tax on alcohol
Gun licence
Value-added tax
Personal income tax
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches an item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1 to 1.2.8) in the
ANSWER BOOK.
COLUMN A
Autonomous
consumption
A
1.2.2
New economic
paradigm
B
coordinates government actions to
increase the competitiveness of South
African businesses
1.2.3
Bureaucracy
C
focus on the acquisition of skills
1.2.4
Mass production
D
1.2.5
JIPSA
spending that takes place irrespective of
the level of income
1.2.6
Dumping
E
the smoothing of business cycles using
monetary and fiscal policy
1.2.7
Economic growth
F
ensures the supply of standardised
articles through an automated
mechanical process
G
increase in a country's production
capacity
H
official rules and regulations that can
hinder service delivery
I
selling goods in another country at very
low prices with which the local industry
cannot compete
(8 x 1)
1.2.1
1.2.8
Integrated
manufacturing
strategy
COLUMN B
the owners of the factors of production
in the economy
.
(8)
1.3
Give ONE term for each of the following descriptions. Write only the term next
to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
The labour force between the ages of 15 and 65 that are willing
and able to work
1.3.2
It illustrates (shows) the relationship between unemployment and
inflation
1.3.3
A form of credit from the International Monetary Fund (IMF) which
can be used when balance of payments difficulties are experienced
1.3.4
A penalty imposed by one or more countries on another country by
restricting trade
1.3.5
Consultation between the South African Reserve Bank and banks
to persuade them to act in a manner that is desirable
1.3.6
An increase in the number of people moving from rural areas to
cities
(6 x 1)
(6)
TOTAL SECTION A:
30
ACTIVITY 10 (NOV 2021)
SECTION A (COMPULSORY)
30 MARKS – 20 MINUTES
QUESTION 1
1.1
Various options are provided as possible answers to the following questions.
Choose the answer and write only the letter (A–D) next to the question
numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.
1.1.1
Long-term financial instruments, such as shares, are traded in
the … market.
A
B
C
D
1.1.2
money
capital
foreign exchange
labour
Business cycles that are caused by changes in the construction
industry that last for 15 to 20 years are called … cycles.
A
B
C
D
Kuznets
Kitchin
Jugler
Kondratieff
1.1.3
Transfer of ownership of entities from the private sector to the
public sector is called …
A
B
C
D
1.1.4
Investment contracts that base their value on the underlying
assets, such as currencies and commodities, are known as …
A
B
C
D
1.1.5
National Development Plan.
Reconstruction and Development Programme.
Growth, Employment and Redistribution Programme.
Accelerated and Shared Growth Initiative for South Africa.
A cash incentive that aims to provide investment in the training of
the South African labour force to gain new expertise, is called
the …
A
B
C
D
1.1.8
World Bank.
International Monetary Fund.
World Trade Organisation.
World Health Organisation.
The growth and development policy that aims to eliminate poverty
and reduce inequality by 2030, is known as the …
A
B
C
D
1.1.7
other investments.
direct investments.
financial derivatives.
portfolio investments.
The international organisation that reduces tariffs and other trade
barriers to liberalise trade is called the …
A
B
C
D
1.1.6
privatisation.
commercialisation.
deregulation.
nationalisation.
Critical Infrastructure Programme.
Skills Support Programme.
Custom Free Incentives.
Small Business Support Programme.
The percentage of the population living in poverty in a country is
indicated by …
A
B
C
D
the Gini coefficient.
life expectancy.
per capita gross domestic product.
the headcount index.
(8 x 2)
(16)
1.2
Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A–I) next to the question numbers (1.2.1–1.2.8) in the
ANSWER BOOK, e.g. 1.2.9 J.
1.2.1
COLUMN A
Transfer payment
1.2.2
Investment
1.2.3
Cash reserve
requirements
B
monitors identifiable and definable
issues related to human well-being
1.2.4
Price discrimination
C
1.2.5
Social indicator
nationwide government intervention to
create employment using labour
intensive methods
1.2.6
Desirable mix
D
money received without any productive
service rendered
1.2.7
Industrial development
zones
E
charging different customers, different
prices for the same product
Expanded Public
Works Programme
F
spending by businesses on capital
goods
G
used to control money supply through
buying and selling of government
securities
H
purpose-built industrial estates that are
physically enclosed and link to
international ports
I
the minimum amount of money that the
South African Reserve Bank requires
banks to maintain in order to manipulate
money creation activities
(8 x 1)
1.2.8
A
COLUMN B
combination of international trade
policies suitable for the prevailing
conditions in an economy
(8)
1.3
Give ONE term for each of the following descriptions. Write only the term next
to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK.
Abbreviations, acronyms and examples will NOT be accepted.
1.3.1
When a country involved in international trade, produces more
output than other countries given the same input
1.3.2
A document that details expected revenue and projected
expenditure for the next fiscal year
1.3.3
Tax systems where low-income earners pay higher tax rates while
high-income earners pay lower tax rates
1.3.4
The provision of incentives to encourage local businesses to
produce goods to sell to other countries
1.3.5
The process that focuses on the improvement of people's standard
of living
1.3.6
The industrial development strategy that focuses on improving the
competitiveness in manufacturing by considering input prices and
technology.
(6 x 1)
(6)
TOTAL SECTION A:
30