GRADE 10 NOVEMBER 2018 ECONOMICS P2 - AWSUM School News

NATIONAL SENIOR CERTIFICATE

GRADE 10

NOVEMBER 2018

ECONOMICS P2

MARKS: 150

TIME:

2 hours

This question paper consists of 13 pages.

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ECONOMICS P2

INSTRUCTIONS AND INFORMATION

(EC/NOVEMBER 2018)

1. Answer FOUR questions as follows:

SECTION A: COMPULSORY SECTION B: Answer any 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. Answer the questions in full sentences. The format, content and the context of your responses must comply with the cognitive requirements of the questions.

4. Number the answers correctly according to the numbering system used in this question paper.

5. Write the question number above each answer.

6. Read ALL the questions carefully.

7. Start EACH question on a NEW page.

8. Leave 2?3 lines between subsections of 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 P2

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SECTION A: (COMPULSORY)

QUESTION 1

30 MARKS ? 20 MINUTES

1.1 Various options are provided as possible answers to the following questions. Choose the correct 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 1.1.7 B.

1.1.1 Which of the following is NOT an example of businesses in an oligopoly market?

A MTN, Vodacom and Cell C B FNB, ABSA and Standard Bank C Engen, Caltex and Sasol D KFC, Nandos, Hungry Lion

1.1.2 The study of the behaviour of individuals is called ... economics.

A micro B macro C market D monetary

1.1.3 The VAT rate in South Africa increased from ...

A 15% to 16%. B 14% to 15%. C 10% to 11%. D 13% to 14%.

1.1.4 The subsidisation of wages by the government as an incentive to businesses to create more job opportunities is known as a/an ...

A production subsidy. B export subsidy. C employment subsidy. D income subsidy.

1.1.5 A law passed to promote equal opportunity in the workplace:

1.1.6

A Labour Relations Act B Employment Equity Act C RDP D GEAR The overall inability of an economy to provide employment for its total labour force, leads to ... unemployment.

A seasonal B frictional C cyclical D structural

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ECONOMICS P2

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1.1.7 The largest trade union federation in South Africa:

A Cosatu B Consawu C Fedusa D Nactu

1.1.8 A government policy implemented in 2010 with the aim of creating five million jobs by 2020:

A ASGISA B NGP C NDP D EPWP

(8 x 2) (16)

1.2 Choose a description in COLUMN B that matches an 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, for example 1.2.9 J.

COLUMN A 1.2.1 Market failure

COLUMN B A Customers are spread throughout the

world

1.2.2 Public Works programmes

B An independent agency of the department of trade and industry

1.2.3 Misconduct

C People between the ages of 15 and 65 who are willing and able to work

1.2.4 Workplace forums

D Consists of government at national, provincial and local level

1.2.5 World markets E Government initiatives to provide shortterm employment

1.2.6 Khula Enterprise F Finance

When producers produce fewer goods than are desired at a higher price, or more goods at a lower price

1.2.7 Public sector

G Formal meetings between labour unions and employer organisations

1.2.8 Economically active population

H Occurs when a rule in the workplace is broken

I Market where there is only one supplier (8 x 1) (8)

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ECONOMICS P2

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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.

1.3.1 The total satisfaction that a consumer derives from consuming a product.

1.3.2 The lowest wage that an employer is allowed to pay a worker per month.

1.3.3 The rate at which the consumer is prepared to sacrifice the one good for the other.

1.3.4 Provides unemployment figures according to the narrow and broad definition of unemployment.

1.3.5 The process where an outside person settles a disagreement between parties by finding a solution that both can accept.

1.3.6 Gives adults the foundation needed for lifelong learning and

includes literacy skills.

(6 x 1) (6)

TOTAL SECTION A: 30

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