Economics Memo 1 (English)

May-June 2016 — Grade 12 / Matric — Economics

Memo 2016 Grade 12 English Economics Hub →

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🎯 150 marks 📄 17 pages 📝 46 items found 📚 3 topics

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Q1— Section header —

1.1MULTIPLE CHOICE QUESTIONS

1.1.8injections extrapolation nternational Monetary Fund edium erm xpenditure ramework fiscal conomic growth

1.2MATCHING ITEMS

1.2.8hen leakages are more than injections ompares a country s export prices with its import prices by means of an index evens out short term fluctuation in economic data bsence of barriers and restrictions

1.3GIVE ONE TERM

1.3.4.3.5

1.3.6Fina cial Households onsumers Globalisation nternational trade Foreign trade Global economy Infant m

Q2— Section header —

2.1.1Name TWO macroeconomic objectives of the state. Economic growth Ful employment Exchange rate stability / Bala nce of Payment stability Price stability

2.1.2How can the Reserve Bank use interest rates to stimulate the economy? By reducing interest rates credit became more accessible which will lead to an increase in expenditure and stimulate economic

2.2DATA RESPONSE

2.2.1Which institution published the information in the graph above Statistics Sout Africa / Stats SA / SSA

2.2.2During which quarter of 2014 did South Africa experience a positive change in the GDP? Second qua rter

2.2.3What are the implications of recent trends in the GDP between 2011 and 2014? Implications are A drop in the grow th rate means ess is produced crease in income of businesses Retrenchment

2.2.4Explain the importance of the GDP as economic indicator. dicates the economic activity within a country Measures economic growth from one year to the next Determines the standard of living in a country

2.3DATA RESPONSE

2.3.1Identify TWO arastatals ( SOEs the extrac Eskom Sanral South African Airways Any (2 x 1\ (2\

2.3.2Explain the term privatisation State owned businesses are transferred to the private sector (Accept any other correct alternative response\ (2\

2.3.3How does the poor financial health of parastatals SOEs threaten South Africa s economy? Bailouts given to parastatals increase government expenditure which is not budgeted for

2.3.4Explain how the privatisation of tate wned nterprises SOEs can secure our fisc al future. The income generated through privatisation becomes additional

2.4Distinguish between lea ding and lagging indicators Leading indicators: Give consumers, businesses and the state a glimpse of the direction in whi

2.5How can inefficiencies that contribut ed towards public sector failure be solved? Taxpayer s money can be used to ensure optimal allocation of resources E.g. subsidise students tuition fees on merit Protection of industries of

3.2.5n your opinion what the South African government do to reduce the negative effects of this crisis? To impose tariff on certain steel products To facilitate the p

3.3DATA RESPONSE

3.3.1Identify ONE country that form part of BRICS Brazil Russia India

3.3.2Which member country is interested in sign ing nuclear power deal with South Africa? Russia

3.3.3Explain the concept emerging economies. Developing countries that succeed in attracting fixed and portfolio inves tments from developed economies Developing economies that show acceleration in industrialisation and economic growth

3.3.4How can South Africa benefit from the New Development Bank BRICS Having access to funds for infrastructure and development ill have a ccess to s

Q4— Section header —

4.1.1Name TWO import substitution methods Tariffs Quotas Subsidies Foreign exchange control Physical control standards

4.1.2Why is industrial development a necessity in South Africa? Generate i ncome Industries will accommodate thousands of workers who will receive an income Boost economic g rowth Industrial development will ensure

4.2DATA RESPONSE

4.2.1What tax scale is referred to in the heading of the extract Progressive

4.2.2What important element of redress is found in the extract Redressing the inequality of income poverty

4.2.3Explain the negative impact of high tax rates. Tax pay ers develop tax resistance Avoidance Evasion of tax Discourage people from Entering the labour market

4.2.4Calculate the tax payable of a person whose taxable income is R200 000 per year Show ALL calculations. (R18 100 X 26 4 706 plus

4.3DATA RESPONSE

4.3.1Which international institution provided t he data in the extract? World Bank

4.3.2When did the income disparities South Africa increase drastically 2009

4.3.3Which index describes the percentage of the population livin below the poverty line income? Head Count I ndex (2\

4.3.4Give a reason why poverty in South Africa declined between 2000 and 2006. Increased social grants Increase in the informal sector Implementing skills developing programme

4.3.5What is the relationship between the Lorenz curve and the Gini coefficient The further

4.4Distinguish between the money market and the capital market Money Market Term:

Q5— Section header —

Q6— Section header —

Topics Identified

MicroeconomicsMacroeconomicsInternational Trade

Mark Allocation

Total150 marks

Sections40 + 40 + 40 + 40 + 40 + 40 + 40 = 280 marks

Paper information

SubjectEconomics

Year2016

SessionMay-June

TypeMemo

PaperPaper 1

LanguageEnglish

Pages17

Downloads6

Examination context

Decade2010s

Years ago10y

Season—

Start day—

Exam period—

Days since exam—

About Economics examination preparation

Grade 12 Economics covers microeconomics and macroeconomics. The memorandum rewards correct labelling of graphs and curves.

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economic reasoning

interpreting economic information

applying concepts

using subject terminology

structuring extended responses

A practical revision approach

Economics rewards graphical literacy — practice drawing and labelling graphs accurately. The memorandum allocates marks for correct axis labelling, curve identification, and shift analysis.

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