Economic Growth and Development Questions and Answers grade 12

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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
act1

Study the cartoon below and answer the questions that follow:

  1. What is the message behind the cartoon? (2)
  2. List any TWO countries involved in this phenomenon. (2)
  3. List any TWO products displayed in the cartoon. (4)
    [8]
Answers to activity 1

  1. Globalisation (2)
  2. USA and Japan(2)
  3. Motor vehicles and fuel (4)
    [8]

Activity 2
Study the cartoon below and answer the questions that follow:
act2

  1. What is the message behind the cartoon? (2)
  2. What is the main objective of Broad-Based Black Economic Empowerment? (2)
    [4]
Answers to activity 2

  1. The people are dissatisfied about the way the government
    is handling Black Economic Empowerment (corruption and
    nepotism). (2)
  2. To advantage the previously disadvantaged section of the
    population. (2)
    [4] 

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]


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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