NATIONAL SENIOR CERTIFICATE GRADE 12 - cdn.24.co.za

NATIONAL SENIOR CERTIFICATE

GRADE 12

ECOENCOMNOICMSICPSAPPE1R 1 MACROECONOMICS & ECONOMIC PURSUITS

NOMVAERMCBHE2R0210617

MARKS: 150 TIME: 2 hours

This question paper consists of 12 pages.

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Economics/P1

2 NSC

DBE/November 2017

INSTRUCTIONS AND INFORMATION

1.

Answer FOUR questions as follows in the ANSWER BOOK:

SECTION A: COMPULSORY SECTION B: Answer TWO of the three questions. SECTION C: Answer ONE of the two questions.

2.

Answer only the required number of questions. Answers in excess of the

required number will NOT be marked.

3.

Number the answers correctly according to the numbering system used in this

question paper.

4.

Write the question number above each answer.

5.

Read the questions carefully.

6.

Start EACH question on a NEW page.

7.

Leave 2?3 lines between subsections of questions.

8.

Answer the questions in full sentences and ensure that the format, content

and context of your responses comply with the cognitive requirements of the

questions.

9.

Use only black or blue ink.

10.

You may use a non-programmable pocket calculator.

11.

Write neatly and legibly.

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Economics/P1

3 NSC

DBE/November 2017

SECTION A (COMPULSORY)

QUESTION 1

30 MARKS ? 20 MINUTES

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 production of goods and services will decrease. B national income will increase. C national income will decrease. D gross value added in production will decline.

1.1.2 Long-term funds are borrowed or saved on the ... market.

A capital B money C foreign exchange D goods

1.1.3 Goods and services that benefit the society are called ... goods.

A demerit B harmful C common D merit

1.1.4

Economic integration where member countries agree on a common economic policy is called a ...

A free-trade area. B custom union. C economic union. D common market.

1.1.5

Which government policy seeks to eliminate poverty and reduce inequality by 2030?

A New Growth Path B National Development Plan C Expanded Public Works Programme D Reconstruction and Development Programme

1.1.6 Cash grants paid out to the poor form part of the ... policy.

A monetary B growth C fiscal D economic

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Economics/P1

4 NSC

DBE/November 2017

1.1.7

The number of years that a new-born baby is expected to live is referred to as ...

A the mortality rate. B malnutrition. C obesity. D life expectancy.

1.1.8 The North-South divide can also be referred to as the ... gap.

A development B inflation C monetary D 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.

COLUMN A 1.2.1 Exogenous explanation A

1.2.2 Leading indicators

COLUMN B

liquid assets made available by the IMF to finance deficits on the balance of payments (BOP)

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

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

1.2.8 Repo rate

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)

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Economics/P1

5 NSC

DBE/November 2017

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) (6)

TOTAL SECTION A: 30

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