Economic Growth and Development Questions and Answers grade 12, The economy is projected to grow marginally, by 0.2% in 2023 and 1.5% in 2024, supported by growth in trade, tourism, mining, and manufacturing. Inflation is projected to ease to 5.9% in 2023 and decline further to 4.5% in 2024 on account of reduced fuel and food prices, subject to evolving global dynamics.
Activity 1
Study the cartoon below and answer the questions that follow:
- What is the message behind the cartoon? (2)
- List any TWO countries involved in this phenomenon. (2)
- List any TWO products displayed in the cartoon. (4)
[8]
| Answers to activity 1
- Globalisation (2)
- USA and Japan(2)
- Motor vehicles and fuel (4)
[8]
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Activity 2
Study the cartoon below and answer the questions that follow:
- What is the message behind the cartoon? (2)
- What is the main objective of Broad-Based Black Economic Empowerment? (2)
[4]
Answers to activity 2
- The people are dissatisfied about the way the government
is handling Black Economic Empowerment (corruption and
nepotism). (2)
- To advantage the previously disadvantaged section of the
population. (2)
[4]
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Activity 3
Distinguish between economic growth and economic development. [8]
Answer to activity 3
| Economic growth |
Economic development |
- A process by which the productive capacity of the economy increases over time.
- Leads to rising levels of national output and income.
- Is an increase in real gross domestic product (GDP)
|
- A process that concentrates on people’s standard of living, selfrespect and freedom of choice.
- Growth should lead to development.
- The ultimate aim of economic policy is an improved standard of living of the population per capita by means of economic growth and development.
(any 2 × 2) × 2 [8]
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Activity 4
Explain unequal standards of living as a characteristic of the North/South divide. [6]
Answer to activity 4
- The real per capita income in developing countries is low compared to developed countries, e.g. 87% of the world’s total income is produced by 15% of the world’s population
- Life expectancy in developing countries is as low as 47 years compared to a life expectancy of over 80 years in a country like Sweden
- Low levels of education the adult literacy rate determines the effectiveness of education [6]
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