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NSC Nov 2021 Economics P1

This is Economics Paper 1 for National Senior Certificate November 2021. Grade 12 learners will benefit greatly when using it as part of their examination preparation.

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economics assignment grade 12 2021 memorandum

Modern Classroom

Economics Grade 12 for 2022, 2021, 2020 Exemplars, Past Exam Papers and Study Guides

[vc_row][vc_column][vc_column_text]Economics Grade 12 Subject Exemplars, Past Exam Papers and Study Guides 2022, 2021, 2020: Learning Resources, Revision Notes, Revision Videos, Past Papers and Memos Pdf for download, Free Study Guides, and Textbooks.

Past Exam Papers for Economics   Grade 12   include February/March, June, September, and November the following years: 2022, 2021, 2020, 2019, 2018, 2017, and 2016. Papers in English and Afrikaans languages for Paper 1, and Paper 2.

How Past Exam Papers Can help you pass Grade 12 in 2022?

Passing Matric with great marks requires an incredible great effort combined with different strategies available for learners today. One of the best strategies is to use past exam paper exemplars which are available on Modern Classroom website.  Previous exam papers for grade 12 assist you to:

  • Get used to the way exam papers are structured, as well as the language used to assess learners .
  • Learn how to manage your time in the exam room.
  • Helps identify key subject areas to focus on in revision.
  • Understand the way in which marks are allocated for different types of questions and section from the provided syllabus
  • Practice writing skills

On this page, you will find previous exemplars preparatory exam papers for: Gauteng, Limpopo , Western Cape , Eastern Cape , Northern Cape , Kwazulu Natal , Mpumalanga , Free State , and North West Province for CAPS curriculum.

Some of the useful resources on this page include: Exercises, Class Assessments Plans, Assignments and Answers, Research Tasks, Essays Topics and more. Resources are for all terms: Term 1, Term 2, Term 3, and Term 4.

Modern Classroom is here for you Modern Classroom has plenty of examination preparation free resources for   Grade 12   Learners, as well as info about primary and secondary schools available in South Africa.

Have you explored what Modern Classroom can offer you?

Hello Learners? Don’t leave your studies until the last minute. While some students do seem to thrive on last-minute cramming, it’s generally accepted that this is not the best way to approach your exams and tests. To help sort out your study time management, set up a proper timetable for your study. Write down how many tests, assignments, and exams you have and the days on which you have to sit them. Then organise your studies accordingly. You may want to give some exams more study time than others, so find a balance that you feel comfortable with.

Modern Classroom has plenty of free exam preparation resources for all   Grade 12 subjects. We also have other free resources for learners in other grades as well, including Grade 11 , Grade 10 , and other grades.

List of Economics Grade 12 Subject Exemplars, Past Exam Papers, and Study Guides 2022, 2021, 2020

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economics assignment grade 12 2021 memorandum

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economics assignment grade 12 2021 memorandum

Economics Grade 12 Past Paper September 2021 and Memo (NSC)

Economics Grade 12 Past Paper September 2021 and Memo (NSC)

Economics Grade 12 Past Paper September 2021 and Memo (NSC PAST PAPES GRADE 12) NSC past paper Civil Technology Grade 12 Past Papers available now with all marking guides and answer book here in edunonia.com free download for South African students preparing their forthcoming examination session.

The National Senior Certificate (NSC) or “matric”  is a national, standardized examination, which represents the final exit qualification at the end of Grade 12. The NSC replaced an earlier exam known as the Senior Certificate. Students can earn one of four levels of pass when they sit for the matric. If their scores are high enough, the test qualifies them for higher education.

From lowest to highest. the four levels include:

  • A certificate pass:  Per the South African Council for Quality Assurance in General and Further Education and Training (Umalusi), the NSC pass is a “baseline” that “serves little purpose other than providing the learner with a school leaving certificate, and perhaps signalling to employers that a basic level of home language competence and numeracy has been achieved.” To obtain an NSC pass, students must pass three subjects – including home language – with a minimum pass mark of 40 per cent; and three with a minimum pass mark of 30 per cent. Six out of seven subjects must be passed in order for students to receive an NSC pass.

Economics Grade 12 Past Paper September 2021 and Memo

  • A higher certificate pass:  This second tier of pass does not qualify students for all types of post-secondary education, however, it does enable access to  certification programs  that will prepare them for the work force, or with access to academic “bridge programs” – year 13 – offered by accredited institutions.
  • A diploma pass:  A diploma pass is the third tier of NSC pass. It is the minimum requirement for entry into tertiary level programs that grant diplomas rather than full degrees.
  • A bachelor’s pass:  A bachelor’s pass is the highest level of NSC pass. It represents the minimum requirement for admission to bachelor’s degree programs at South African universities. Universities may set minimum score requirement scores that are higher than the legal minimum pass. Certain programs may only accept students who achieve high marks in relevant subjects.

SEE MORE ON THE EDUCATION SYSTEM IN SOUTH AFRICA HERE

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Latest Economics Grade 12 Past Papers, Memos, and Study Guides for 2021, 2020, 2019 and more

[vc_row][vc_column][vc_column_text]Latest Economics Grade 12 Past Papers , Memos, and Study Guides for 2021, 2020, 2019 and more: On this page, you will find learning materials ( Previous Papers, Notes, Lessons Practicals, Assessments – SBA,  Assignment questions and answer memos , Tests and Research Task s)  for CAPS and  IEB ( The Independent Examinations Board, or IEB, is a South African independent assessment agency which offers examinations for various client schools , mostly private schools. It is most prominent in setting examinations for the school-leaving National Senior Certificate, or NSC for its client schools ). The IEB offers support in terms of the CAPS curriculum examinations and sets tests and exams according to the CAPS guidelines, as well as memorandums and assessments, moderations and marking groups. It is therefore, a private examination setting and support agency.

On this page, you will also find exemplars preparatory previous exam papers and memos for: Gauteng , Limpopo , Western Cape , Eastern Cape , Northern Cape , Kwazulu Natal , Mpumalanga , Free State , and North West Province. Learning material are in Both English and Afrikans where possible (Term 1, Term 2, Term 3, and Term 4).

Requirements to pass Grade 12 | Matric in 2021

Hey, Grade 12 Learner! Do you know what it takes to obtain your Grade 12 Certificate?  All matric students in South Africa are required to register to write at least 7 subjects and they may not fail more than one subject. Failing more than one subject means you have failed matric. Thus, in order to pass you need to meet the following requirements:

  • Obtain at least 40% for your Home Language
  • Pass two other subjects with 40%, an
  • Get 30% for three other subjects
Useful Tip: Manage your time properly. Don’t waste time on questions you are unsure of. Move on and come back if time allows.

Hey,  Grade 12  Learner! Do you know what it takes to obtain your Grade 12 Certificate?  All matric students in South Africa are required to register to write at least 7 subjects and they may not fail more than one subject. Failing more than one subject means you have failed matric. Thus, in order to pass you need to meet the following requirements:

Useful Tip:  Manage your time properly. Don’t waste time on questions you are unsure of. Move on and come back if time allows List of  Economics Grade 12 Past Papers, Memos, and Study Guides for 2021, 2020, 2019 and more

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ECONOMICS GRADE 12 - EXAMINATION GUIDELINES 2021

ECONOMICS EXAMINATION GUIDELINES GRADE 12 2021













1. INTRODUCTION The Curriculum and Assessment Policy Statement (CAPS) for Economics outlines the nature and purpose of the subject Economics. This guides the philosophy underlying the teaching and assessment of the subject in Grade 12. The purpose of these Examination Guidelines is to:

  • Provide clarity on the depth and scope of the content to be taught and assessed in the Grade 12 National Senior Certificate (NSC) Examination in Economics.
  • Assist teachers to adequately prepare learners for the examinations.

This document deals with the final Grade 12 external examinations. It does not deal in any depth with the School-Based Assessment (SBA). These Examination Guidelines should be read in conjunction with:

  • The National Curriculum Statement (NCS) Curriculum and Assessment Policy Statement (CAPS): Economics
  • The National Protocol of Assessment: An addendum to the policy document, the National Senior Certificate: A qualification at Level 4 on the National Qualifications Framework (NQF), regarding the National Protocol for Assessment (Grades R–12)
  • The national policy pertaining to the programme and promotion requirements of the National Curriculum Statement, Grades R–12

NOTE: All topics where 'discuss in detail/examine in detail/compare and contrast in detail' appear, should be regarded as essay topics for the next three-year cycle.

2. ASSESSMENT IN GRADE 12 2.1 Format of the question papers CLASSIFICATION OF TOPICS FOR THE GRADE 12 ECONOMICS QUESTION PAPERS

:

:

:

          2.2 Details of question papers

  • Each paper carries 150 MARKS.
  • The duration of each paper is 2 HOURS.
  • SECTION A: QUESTION 1 is COMPULSORY.
  • SECTION B: Consists of THREE questions: QUESTIONS 2–4 of which the candidate must choose only TWO
  • SECTION C: Consists of TWO questions: QUESTIONS 5–6 of which the candidate must choose only ONE
  • The above papers must NOT be written on the same day.
  • The detailed requirements of each section (per question paper) are indicated on the next page.

SECTION A (COMPULSORY) TOTAL: 30 QUESTION 1 1.1 MULTIPLE-CHOICE ITEMS (lower order) WITH 4 POSSIBLE options per main topic = 8 items (2 marks per item) (8 x 2)(16) 1.2 MATCHING ITEMS (COLUMN A AND B) (lower order) FOUR items per main topic = 8 items (1 mark per item) (8 x 1)(8) 1.3 GIVE THE TERM (lower order) THREE items per main topic = 6 items (1 mark per item) (6 x 1)(6) Abbreviations, acronyms and examples are not acceptable. Although the questions are regarded as lower order, they may be classified as EASY (e.g. open economy), MODERATE (e.g. real flow) or DIFFICULT (e.g. autonomous consumption).

SECTION B (ANSWER TWO QUESTIONS IN THIS SECTION) TOTAL: 80 QUESTIONS 2–4 (THREE QUESTIONS) ONE question per MAIN TOPIC and ONE combination question between the 2 MAIN TOPICS. (50%/50%)) 2.1 Short items 2.1.1 Lower order (2 ITEMS) Name TWO. (2 x 1) (2) 2.1.2 Middle order (1 ITEM), e.g. How, why and what (an application type of question). (1 x 2) (2) 2.2–2.3 TWO data response questions (middle order), e.g. Study the following graph/cartoon/ table/extract/real data and answer the questions that follow. (10 x 2)(20)

  • Items in the data response questions must be 'scaffolded' from easy to difficult: 2 marks easy, 4 marks moderate and 4 marks difficult
  • The answers to the first 2 questions (1 mark each) may appear in the data, but will be one of application
  • Data response questions give a context on what aspects to be assessed, and answers would not necessary appear in the data

2.4 ONE single question (middle order), e.g. explain, discuss, distinguish or differentiate between, draw a correctly labelled graph/draw a correctly labelled graph and explain//use the given graph and explain.(8) 2.5 ONE single question (higher order), e.g. how, why or evaluate.(8) Higher order questions are grounded in the content. These types of questions test critical thinking, where candidates should be able to apply their knowledge, through logical reasoning and also have an awareness of their current economic climate. Content (covered by discuss/examine/describe/ analyse/explain/evaluate/compare/assess/justify/construct/calculate) can be assessed as higher-order questions. Answers will not necessarily be found in textbooks.

With regard to what, how and why questions, learners must be guided by the mark allocation when answering the question. E.g. Why … (2 marks) will require ONE discussion point and Why … (8 marks) will require THREE to FOUR discussion points depending on examples given.
Responses must give effect to the contextual demands of the question! 

[40] SECTION C (ANSWER ONE QUESTION IN THIS SECTION TOTAL: 40 QUESTIONS 5–6 (TWO ESSAY QUESTIONS) ONE question per MAIN TOPIC


The introduction is a lower-order response.

Max. 2

Discuss in detail/In-depth discussion/Examine/Critically discuss/ Analyse/Compare/Evaluate/Distinguish/Differentiate/Explain / Draw a graph and explain / Use the graph given and explain/Complete the given graph/
: Give own opinion/Critically discuss/Evaluate/Critically evaluate/ Calculate/Deduce/Compare/Explain/Distinguish/Interpret/Briefly debate/ How/Suggest /Construct graph (foreign exchange market, multiplier) 

Max. 26

 

Max. 10


Any higher-order conclusion should include:

Max. 2
 

2.3  Cognitive-level grid

  
Macroeconomics 4 x 2 = 8  4 x 1 = 4 3 x 1 = 3 2x1=2  1 x 2=2  2 x 10 = 20  8 8 10 30
Economic Pursuits 4 x 2 = 8  4 x 1 = 4 3 x 1 = 3 2x1=2  1 x 2=2  2 x 10 = 20  8 8 10 30
Macro and Pursuits       2x1=2  1 x 2=2  2 x 10 = 20  8 8    
 16  8  6  4  4  40  16 16 10 30
Microeconomics 4 x 2 = 8 4 x 1 = 4 3 x 1 = 3 2 x1=2 1 x 2=2 2 x 10 = 20 8 8 10 30
Contemporary Economics 4 x 2 = 8 4 x 1 = 4 3 x 1 = 3 2 x1=2 1 x 2=2 2 x 10 = 20 8 8 10 30
Micro and Contemporary       2 x1=2 1 x 2=2 2 x 10 = 20 8 8    
    8 6 4 4 40 16 16 10 30
                       


    
MARKS 
 44  29.3
 60  40.0
 46  30.7

NOTE : Cognitive-level deviations not to exceed 2,67%. 2.4 A guideline to marking Mark allocation depends on the cognitive level of the question, as follows:

E.g.
A. cartels. ✓✓
(Items from this section are easy/moderate lower-order questions, and requires only recall the candidate must only identify a particular economic concept from a description given ) 
 
E.g.
Sustained increase in the general price level ✓
(Items from this section are easy/moderate lower-order questions, and requires only recall The candidate must match a particular economic item in Column A with a description given in Column B) 
 
E.g.

(Items from this section are moderate/difficult lower-order questions and require recall. The candidate must be able to recall a particular economic concept from a given definition)
NOTE: In these items the answers are not provided. 
E.g.
Externalities✓
Missing markets ✓
Imperfect competition ✓
(This is an easy lower-order question and requires recall. It is therefore expected that the candidate shall provide the correct facts according to the approved textbooks.)
E.g.
It will lead to an increase in exports.✓✓
(This is an easy to moderate middle-order question and requires understanding. It is therefore expected that the candidate shall provide the correct reasoning/understanding of the particular concept or fact)
Items on a : Cartoon, Extract, Graph, Table, Pictures, or a mix
(This is an easy to difficult middle-order question and requires insight and understanding of the particular topic) Questions range from easy to difficult.
E.g.

2.2.1 What is the selling price of the business above? (1)
2.2.2 Identify the letter in the graph above that represents the loss minimising point. (1)
2.2.3 Briefly describe the term monopoly. (2)
2.2.4 Why is the equilibrium position above typical of the short run? (2)
2.2.5 Determine the loss for this business. Show ALL calculations. (4)
(This is a moderate to difficult middle-order question and requires insight and understanding of the particular topic, candidates must be able to recall, reason facts from approved textbooks and then substantiate/demonstrate the facts with appropriate examples)
Allocation of marks: TWO marks will be allocated per fact. Listing of examples will only count ONE mark. If an example is appropriately explained, TWO marks will be allocated. If facts are only listed, a maximum of FOUR marks will be allocated.

(This is a higher-order question and requires deeper insight and understanding of the particular topic. Candidates must be able to give their own opinion and then substantiate / demonstrate arguments against / in favour of or to recommend solutions on certain issues. Application of knowledge.)
Candidates must be able to:

(The introduction is a moderate to difficult lower-order response, A candidate can use an accepted definition or an appropriate explanation of the topic under discussion as an introduction)
Allocation of marks: TWO marks will be allocated if a candidate can provide a correct definition or an appropriate explanation of the topic under discussion. 
(The main part is a higher-order response which contains some lower-order elements. E.g. The listing of headings can be regarded as a lower-order response)

Example: If the question reads;
'Discuss how fiscal policy can be used to smooth out business cycles'.

Allocation of marks:

E.g. If the candidate refers to price leadership in his response, and the candidate writes: 'price leader', (a single concept without any further detail) the candidate will only get ONE mark.
If the candidate writes; 'the price leader is usually the largest or dominant business in the industry', the candidate will get TWO marks.

(This is a moderate to difficult higher-order question and requires deeper insight and understanding of the particular topic. Candidates must be able to:

Allocation of marks:

(The conclusion is a moderate to difficult lower-order response, the candidate can use any appropriate final/finishing remark on the topic under discussion) Allocation of marks: TWO marks will be given if a candidate can provide an appropriate finishing/final remark on the topic under discussion)
To develop critical thinking within the subject economics teachers must comply with the prescribed way of marking, it should start at Gr.10 level.

2.5 Command verb detail The following list of command verbs, among others, gives an indication of the scope and depth of examinable content:

Discuss in detail/In-depth discussion/ Examine/Critically discuss/Analyse/ Compare/Evaluate/Distinguish/ Differentiate/Explain/Assess/Debate/ Draw a graph and explain/Use the graph given and explain/Complete the graph  Main part in essay question
Give own opinion/Critically discuss/ Evaluate/Critically evaluate/Construct a graph/Calculate/Deduce/Compare/ Distinguish/Interpret/Justify/Debate/ Propose

Additional part in essay question

 
Give own opinion/Critically discuss/ Evaluate/Critically evaluate/Draw a graph and explain/Use the graph given and explain/Complete the graph/ Calculate/Deduce/Compare/Show/ Distinguish/Interpret/Briefly discuss/ Explain/Justify/Briefly debate  Single Questions

Use the: graph/table/diagram/cartoon/ extract/data/information/text and …/ Calculate/Deduce/Compare/Distinguish/ Interpret/Briefly discuss/Briefly explain/ Define/Give a broad outline/Briefly debate/What?/How?/Why?/Show/Give own opinion

 

 
Data Response Questions
Choose the correct answer (multiple- choice items)/Match Columns A and B/ Give one concept for/List/What?/How?/ Why?/Show Short and Objective items

THE FOLLOWING ILUSTRATES THE TYPES OF LEARNER RESPONSES IN THE DIFFERENT COGNITIVE LEVELS

 

Can the learner create new opinions or points of view?

 

Can the learner justify a stand or decision?

  

Can the learner distinguish between the different parts?

Can learners use/apply knowledge in a new way?

Can the learners explain ideas or concepts?

Can the learner recall, remember or recognize the information, ideas and principles in the approximate form in which they were learnt?

NOTE: Take cognisance of the following:

  • 'Research the world over tells us: that in many instances the only reason why learners can perform with a degree of competency on their final exams, is that the questions on the exams are nearly carbon copies of questions they have seen before; the learners are not being asked to think'.

2.6 Higher-order questions Higher-order questions place advanced cognitive demand on learners. It encourages learners to think beyond literal questions. Higher-order questions promote critical thinking skills because these types of questions expect learners to apply, analyse, synthesize, and evaluate information instead of simply recalling facts. Issues from the real world can be used to either support or refute a point of view. Higher-order questions require one to make inferences, draw relevant and insightful conclusions and use their knowledge in new situations. It also requires one to relate their thinking to other situations and to their own background knowledge. Teachers need to realise that there are many more ways to teach than by rote learning. There is teaching for understanding, decision making, problem solving, and connecting a part to a whole, detail to concept, and concept to concept. There also is inference, prediction, analysis for bias, and learning for transfer. Each of these processes requires some form of critical thinking. Opportunities for learners to develop critical thinking processes are not found in classrooms dominated by the regurgitation of factual content. They are found in classrooms where active learning is an essential component.

Features of higher-order questions:

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  • Require learners to engage with unrehearsed or unfamiliar contexts.
  • Ask for deep thinking.
  • Grounded in CAPS curriculum content.

Types of higher-order-thinking questions: (What? How? Why?) Analysis: These questions ask learners to dissect key information and analyse essential concepts, themes and processes. For example:

  • How is x related to y?
  • What are the major reasons for?
  • What is the impact of b on c?
  • What is the problem faced by …?
  • What is the main idea? Theme?
  • What are some of the problems of …?
  • How is … similar to/different from …?
  • Why did … changes occur?

Evaluation: These questions require learners to formulate and justify judgements and criticisms based upon clearly-articulated evaluative criteria. For example:

  • Provide a better solution for …?
  • What are the consequences of …?
  • What are the pros and cons of …?
  • What are the alternatives for …?
  • How effective are…?

Creativity/Synthesis : These questions require learners to formulate a holistic summary of key ideas; provide an integrated, cohesive, sustained response, make inferences; reformulate, reconstruct or create scenarios. Own voice is critical. For example:

  • Based on these facts, what predictions would you make?
  • Propose a solution to this problem.
  • How can the errors be fixed?
  • What alternative will you suggest …?

*POINTS TO CONSIDER WHEN MARKING HIGHER COGNITIVE QUESTIONS USING A MARKING GUIDELINE

  • It is important to note that a marking guideline essentially gives the marker direction about what answers are acceptable. The learner does NOT have to present answers exactly as in the marking guideline (except objective-type questions). In terms of other questions (SECTION A, SECTION B, list, define, etc.) the essence of what the learners say must be covered by the marking guideline.
  • When marking a particular question, e.g. 8 marks, it is important that the learner presents his/her answer in such a way that it answers the question.
  • If a learner gives an example only, then 1 mark may be awarded. An explanation of the example can earn further marks.
  • In an 8-mark question the maximum marks a learner can earn for examples and explanations should be 4 marks. The marker must check at all times whether the explanation given, answers the question. In higher-order short questions, a maximum of 2 marks (25%) will be allocated for merely listing of facts and examples.
  • We need to guard against accepting information under a particular heading because it appears in the text. Sometimes the information does not relate to the question asked.
  • It must be remembered that textbooks give more/less information about a topic than is required by the examination guidelines. In terms of the examination guidelines more than one question can be asked on a particular topic. The learner must be able to select/extract the relevant information and relate to it in the question.
  • Sometimes textbooks have information under a heading that seems abstract when compared to the exam requirement. The important aspect to bear in mind is that not all information in the text may be relevant to the question.

Present the circular-flow model as a macroeconomic model:
1.1 The open-economy circular-flow model

1.2 National account aggregates
National account conversions 

1.3 The multiplier

(Focus: Relevant concepts, deducing, interpretation, analyses of aggregates and conversions)

(Focus: Relevant concepts, calculations, interpretation or graphical explanation, deduce and apply)

1 - mpc
    1    
1 - mps
ΔY
ΔE
Analysis and explanation of business cycles, and how they are used in forecasting.
2.1 The composition and features of business cycles
2.2 Explanations/Causes
2.3 Government policy
2.4 The new economic paradigm (smoothing of cycles)
2.5 Features underpinning forecasting business cycles 

(Focus: Relevant concepts, composition, explanation, government policies, new economic paradigm and features underpinning forecasting in respect of South African conditions)

Explain the composition of the following policies:

Discuss in detail 'The new economic paradigm'/Explain the 'smoothing of cycles'

Explain the effect of demand-side and supply-side policies using a graph (aggregate demand and aggregate supply).

Use a diagram and discuss the cycle length, amplitude and the trend line as features underpinning forecasting.

Evaluate the role of the public sector in the economy with special reference to its socio-economic responsibility in the South African context
3.1 The composition and necessity of the public sector
3.2 Problems of public sector provisioning
3.3 Objectives of the public sector
3.4 Budgets
3.5 Fiscal policy (including Laffer curve) 
3.6 Public sector failure

(Focus: Composition and necessity of public sector, problems of public sector provisioning, objectives, fiscal policy and reasons for public sector failure)

Infuse where appropriate: national macroeconomic policy and service delivery with regard to socio-economic rights, education, health and the environment, social security, convention of the rights of the child, taxation and compensation for human rights abuses.

Examination of the foreign exchange market, the establishment of exchange rates, and show how the Balance of Payments Account is affected
4.1 The main reasons for international trade
4.2 The Balance of Pay
4.3 Corrections of Balance of Payments surplus and deficit (disequilibria)
4.4 Foreign exchange markets
4.5 The establishment of foreign exchange ratesments

(Focus: Reasons for and effects of international trade, balance of payments, foreign exchange, foreign exchange markets and the correction of disequilibria in the foreign exchange market)


Goods exports
+ Net gold exports
+ Services receipts
+ Income receipts
less Merchandise imports
less Payment for services
less Income payments
Current transfers (net receipts)
Balance on Current Account
Memo item: trade balance
Net direct investment
Net portfolio investment
Net financial derivatives
Net other investments
Reserve assets (SDR allowances)
Balance on Financial Account
Memo item: balance on Financial Account excluding reserve assets.
Unrecorded transactions
Examine the dynamics of perfect markets with the aid of cost and revenue curves
5.1 Perfect competition
5.2 Individual business and industry
5.3 Market structure
5.4 Output, profits, losses and supply
5.4.1 Individual business
5.4.2 The industry
5.5 Competition policies 

The examination of individual business and industry should be accompanied by an analysis of tables and graphs.

Show the relationship between the industry equilibrium positions and the individual firm’s equilibrium positions with graphs, i.e. how entry and exit into the market influence equilibrium position from the short run to the long run.

Examine the dynamics of imperfect markets with the aid of cost and revenue curves
6.1 The dynamics of imperfect markets with the aid of cost and revenue curves
6.2 Monopolies
6.3 Oligopolies
6.4 Monopolistic competition
6.5 Compare and contrsast market structures
Explain the reasons for and consequences of market failures, reflecting on the cost-benefit analysis
7.1 The causes of market failures
7.2 Consequences of market failures
7.3 Cost-benefit analysis 
Discussion of protectionism and free trade; Evaluate South African international trade policies and major protocols in terms of the following:
8.1 Export promotion
8.2 Import substitution
8.3 Protectionism
8.4 Free trade
8.5 A desirable mix
8.6 An evaluation

(Focus on export promotion, import substitution, protectionism and free trade)

Compare South African growth and development policies in terms of international benchmarks; also highlight the North/South divide
9.1 The demand-side approach
9.2 The supply-side approach
9.3 Approaches to growth and
development policies used
in South Africa
9.4 The North/South divide
 

Justify South Africa's industrial development policies and their suitability in terms of international best practice
10.1 Industrial development in South Africa
10.2 Regional development
10.3 South Africa's endeavours
10.4 Incentives to encourage industrial development
10.5 Appropriaten
10.6 Appropriateness of South Africa's regional development policies in terms of benchmark criteria
10.7 Small business development
10.8 The appropriateness of black economic empowerment in the SA economyess of South Africa's industrial policies 

 
Analyse South Africa's economic and social performance indicators and their uses
11.1 Assessing the performance of an economy
11.2 Economic indicators
11.3 Social indicators 
11.4 International comparisons
Analyse and investigate inflation and the policies used to combat it
12.1 Inflation
12.2 Types and characteristics of inflation
12.3 Causes of inflation
12.4 Consequences of inflation
12.5 The inflation problem in South Africa
12.6 Measures to combat inflation
12.7 Inflation targets 
Debate the economic importance of tourism for South Africa and suggest policies to promote it. Also refer to the importance of indigenous knowledge systems (IKS).
13.1 Tourism
13.2 Reasons for its growth
13.3 The effects of tourism
13.4 The benefits of tourism
13.5 South Africa's profile
13.6 Policy suggestions 
Analyse environmental sustainability and investigate recent international agreements in this regard, for example the Rio de Janeiro and Johannesburg summits
14.1 The state of the environment
14.2 Measures to ensure sustainability
14.3 International measures

4. CONCLUSION This Examination Guidelines document is meant to articulate the assessment aspirations espoused in the CAPS document. It is therefore not a substitute for the CAPS document which educators should teach to. Qualitative curriculum coverage as enunciated in the CAPS cannot be over-emphasised. NOTE: The structure of the NSC Economics question papers (pp. 4–7) replaces the ANNEXURE included in the CAPS (pp. 45–46).

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