EC EC MICS P1 ONOMICS PAPER 1 MACROECONOMICS ... - Advantage Learn

NATIONAL SENIOR CERTIFICATE

GRADE 12

ECOENCOMNOICMSICPSAPPE1R 1 MACROECONOMICS & ECONOMIC PURSUITS

NOMVAERMCBHE2R0210616

MARKS: 150 TIME: 2 hours

This question paper consists of 12 pages.

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Economics/P1

2 NSC

DBE/November 2016

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 2016

SECTION A (COMPULSORY)

QUESTION 1

30 MARKS ? 20 MINUTES

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?C) of your choice in the ANSWER BOOK.

EXAMPLE:

1.1.9

A

B

C

1.1.1

Goods characterised by non-rivalry and non-excludability are known as ... goods.

A public B common C private

1.1.2

The national aggregate that represents the value added in each phase of production is called the gross domestic ...

A expenditure. B product. C income.

1.1.3

Large public corporations or business entities in the public sector are known as ...

A corporates. B enterprises. C parastatals.

1.1.4

An exchange rate system where the forces of supply and demand entirely establish the value of a currency is called a ... exchange rate system.

A fixed B managed C free-floating

1.1.5 The standard of living of a population is best described by the ...

A balance of trade. B per capita income. C inflation rate.

1.1.6 Monetary policy focuses on ... and the aggregate money supply.

A income B interest rates C taxation

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Economics/P1

4 NSC

DBE/November 2016

1.1.7

The process whereby people move from rural areas to towns and cities is called ...

A urbanisation. B immigration. C emigration.

1.1.8

A piece of land that forms a passageway that allows access from one area to another and is part of regional development is called a ...

A custom. B corridor. C freeway.

(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 Globalisation

1.2.2 Export promotion

1.2.3 Economy of scale

COLUMN B A the rate banks are paying for lending

money from the central bank

B products traded in their basic form, for example coal and timber

1.2.4 Bureaucracy 1.2.5 Repo rate 1.2.6 Production price index

C hampers the cognitive development of children

D a common argument in favour of free trade

1.2.7 Commodities 1.2.8 Malnutrition

E a trade policy that encourages the production of locally manufactured goods to be sold abroad

F worldwide interaction of economies with trade as a common element

G a system of government that does not approve rules and therefore causes delays

H measures prices of locally manufactured goods at factory level

I also known as intermediate goods (8 x 1) (8)

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Economics/P1

5 NSC

DBE/November 2016

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 A fluctuation in economic activities over a period of time

1.3.2 The distance from the trend line to the peak and the trough

1.3.3 A tariff imposed as a percentage of the value of goods imported

1.3.4 The Act that promotes equal job opportunities for all

1.3.5

Compares a country's export prices to its import prices by means of indexes

1.3.6

People within the economically active population who are willing

and able to work but cannot find a job

(6 x 1) (6)

TOTAL SECTION A: 30

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