CH 3 SUM: Economic Pursuits

<p>Consumers have access to a wider variety of goods and services, often at lower prices (A)</p> Signup and view all the answers

<p>Tariff and quota (A)</p> Signup and view all the answers

<p>To ensure the self-sufficiency of crucial industries that are vital for national security (B)</p> Signup and view all the answers

<p>Protecting local businesses from foreign companies that might dump goods at a lower cost than they are produced domestically (D)</p> Signup and view all the answers

<p>Countries can focus on producing goods for which they have a comparative advantage (C)</p> Signup and view all the answers

<p>To enhance consumer choice and foster innovation (B)</p> Signup and view all the answers

<p>Safeguarding jobs against the threats posed by cheaper imported goods (C)</p> Signup and view all the answers

<p>To encourage local firms to export their goods (A)</p> Signup and view all the answers

<p>Economic growth focuses on GDP growth, and economic development focuses on income equity (C)</p> Signup and view all the answers

<p>To increase consumption among lower-income earners (A)</p> Signup and view all the answers

<p>Improving the quality of the labor force (C)</p> Signup and view all the answers

<p>To meet basic needs and develop human resources (D)</p> Signup and view all the answers

<p>Disparity in income levels between developed and developing countries (C)</p> Signup and view all the answers

<p>To aim at market-led growth, fiscal and monetary discipline, and enhancing investor confidence (A)</p> Signup and view all the answers

<p>Focus on job creation and identifying job drivers like infrastructure and agriculture (B)</p> Signup and view all the answers

<p>To encourage local production of goods that were previously imported (B)</p> Signup and view all the answers

<p>Involvement in SACU, SADC, and partnerships with major economies like China and the EU (A)</p> Signup and view all the answers

<p>To promote economic growth and sustainable development (C)</p> Signup and view all the answers

<p>To guide the overall industrial strategy of South Africa (A)</p> Signup and view all the answers

<p>To reduce economic disparities between regions (A)</p> Signup and view all the answers

<p>Ensuring governance and transparency (B)</p> Signup and view all the answers

<p>Boosting innovation across industries (C)</p> Signup and view all the answers

<p>To offer incentives like tax breaks and infrastructure support to attract investments (B)</p> Signup and view all the answers

<p>The impact on economic growth (A)</p> Signup and view all the answers

<p>Implementation gaps (B)</p> Signup and view all the answers

<p>To target underdeveloped areas for infrastructure and industrial development (D)</p> Signup and view all the answers

<p>Economic diversification and job creation (A)</p> Signup and view all the answers

<p>To assess the country's economic and social performance and inform policy decisions (B)</p> Signup and view all the answers

<p>Consumer Price Index (CPI) (B)</p> Signup and view all the answers

<p>The proportion of the EAP that is employed (C)</p> Signup and view all the answers

<p>The value of the South African rand against other currencies (D)</p> Signup and view all the answers

<p>To influence other interest rates across the economy (C)</p> Signup and view all the answers

<p>It measures the overall health and longevity of the population (B)</p> Signup and view all the answers

<p>To gauge the country's progress and alignment with global standards (A)</p> Signup and view all the answers

<p>It is essential for quality of life and a basic indicator of infrastructural development (C)</p> Signup and view all the answers

<p>To compare the rate of export prices to import prices (B)</p> Signup and view all the answers

<p>It impacts future workforce skills and economic growth (B)</p> Signup and view all the answers

<p>Economic Efficiency (D)</p> Signup and view all the answers

<p>To reduce dependency on foreign goods (A)</p> Signup and view all the answers

<p>Meeting basic needs (C)</p> Signup and view all the answers

<p>Significant disparity in income levels (D)</p> Signup and view all the answers

<p>To enhance consumption among lower-income earners (D)</p> Signup and view all the answers

<p>Market-led growth (A)</p> Signup and view all the answers

<p>Halving unemployment and poverty (A)</p> Signup and view all the answers

<p>Job creation (D)</p> Signup and view all the answers

<p>Enhanced productivity and innovation (C)</p> Signup and view all the answers

<p>Improving the quality of the labor force (B)</p> Signup and view all the answers

<p>Increasing industrial activity and diversifying the economy (B)</p> Signup and view all the answers

<p>To guide the overall industrial strategy of South Africa (C)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>To offer incentives to attract businesses and stimulate economic activities (A)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>To target underdeveloped areas for infrastructure and industrial development (A)</p> Signup and view all the answers

<p>Boosting innovation across industries (C)</p> Signup and view all the answers

<p>Reducing economic disparities between regions (B)</p> Signup and view all the answers

<p>To address skills gap in the workforce (B)</p> Signup and view all the answers

<p>The average movement of selling prices from domestic production over time (B)</p> Signup and view all the answers

<p>To influence other interest rates across the economy (C)</p> Signup and view all the answers

<p>To protect local businesses and jobs from foreign competition (C)</p> Signup and view all the answers

<p>The percentage of the labor force that is unemployed but actively seeking employment (A)</p> Signup and view all the answers

<p>Fostering innovation (A)</p> Signup and view all the answers

<p>Infant industry argument (A)</p> Signup and view all the answers

<p>To gauge South Africa's economic performance compared to other countries (C)</p> Signup and view all the answers

<p>Nations can focus on the production of goods for which they have a comparative advantage (C)</p> Signup and view all the answers

<p>The proportion of eligible children attending schools (A)</p> Signup and view all the answers

<p>To protect local businesses and jobs (A)</p> Signup and view all the answers

<p>To gauge South Africa's economic performance and identify areas needing intervention (C)</p> Signup and view all the answers

<p>Fostering innovation and improved international relations (B)</p> Signup and view all the answers

<p>The comparison of the rate of export prices to import prices (A)</p> Signup and view all the answers

<p>To support the development of diverse local industries (B)</p> Signup and view all the answers

<p>To support industrial activities through continued investment in infrastructure (D)</p> Signup and view all the answers

<p>It is an essential indicator of economic stability and quality of life (C)</p> Signup and view all the answers

<p>Safeguarding jobs against the threats posed by cheaper imported goods (C)</p> Signup and view all the answers

<p>To ensure national security (C)</p> Signup and view all the answers

<p>To protect local businesses from foreign companies that might dump goods at a lower cost (D)</p> Signup and view all the answers

<p>Discouragement of international trade (A)</p> Signup and view all the answers

<p>Access to a wider variety of goods and services (C)</p> Signup and view all the answers

<p>To protect local businesses from foreign competition (B)</p> Signup and view all the answers

<p>Increased prices of imported goods (B)</p> Signup and view all the answers

<p>Improved efficiency and productivity (C)</p> Signup and view all the answers

<p>Local businesses going out of business (A)</p> Signup and view all the answers

<p>To reduce dependency on imports (D)</p> Signup and view all the answers

<p>Elimination of discrimination against imports (D)</p> Signup and view all the answers

<p>Protection from foreign competition (B)</p> Signup and view all the answers

<p>Increased innovation (C)</p> Signup and view all the answers

<p>To assess the country's economic and social well-being and inform policy decisions (A)</p> Signup and view all the answers

<p>Producer Price Index (PPI) (D)</p> Signup and view all the answers

<p>The percentage of the labor force that is unemployed but actively seeking employment (A)</p> Signup and view all the answers

<p>It reflects the overall health and longevity of the population (C)</p> Signup and view all the answers

<p>To compare South Africa's performance with other countries and identify areas for improvement (B)</p> Signup and view all the answers

<p>To reduce dependence on traditional sectors like mining and promote growth in manufacturing and services (D)</p> Signup and view all the answers

<p>It reflects the government's ability to provide essential services (D)</p> Signup and view all the answers

<p>To influence other interest rates across the economy (A)</p> Signup and view all the answers

<p>To enhance competitiveness in the manufacturing sector (A)</p> Signup and view all the answers

<p>To address high unemployment rates through industrial activities (D)</p> Signup and view all the answers

<p>It reflects the government's commitment to improving education (A)</p> Signup and view all the answers

<p>To compare the rate of export prices to import prices (C)</p> Signup and view all the answers

<p>To offer incentives to attract businesses and stimulate economic activities (C)</p> Signup and view all the answers

<p>Focusing on sustainable industrial practices (A)</p> Signup and view all the answers

<p>They reflect the effectiveness of healthcare systems (A)</p> Signup and view all the answers

<p>To promote regional development and reduce economic disparities between regions (B)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>Implementation gaps between policy goals and actual outcomes (B)</p> Signup and view all the answers

<p>To boost innovation across industries (D)</p> Signup and view all the answers

<p>Promoting regional development and reducing economic disparities between regions (B)</p> Signup and view all the answers

<p>Promotes more efficient allocation of resources globally, enhancing productivity and innovation. (C)</p> Signup and view all the answers

<p>To meet basic needs, develop human resources, build the economy, and democratize state and society. (C)</p> Signup and view all the answers

<p>A significant disparity exists between the developed 'North' and the developing 'South' in terms of income levels, economic stability, and access to resources. (A)</p> Signup and view all the answers

<p>To support domestic industries to increase their exports, which can lead to higher production and economic growth. (C)</p> Signup and view all the answers

<p>Market-led growth, fiscal and monetary discipline, and enhancing investor confidence. (D)</p> Signup and view all the answers

<p>To encourage local production of goods that were previously imported to strengthen domestic industries and reduce dependency on foreign goods. (D)</p> Signup and view all the answers

<p>Improving the Quality of the Labor Force, Managing and Using Natural Resources, Accumulating Capital Goods, Advancements in Technology, and Entrepreneurship. (D)</p> Signup and view all the answers

<p>To halve unemployment and poverty by improving average economic growth. (A)</p> Signup and view all the answers

<p>To focus on job creation and identifying job drivers like infrastructure and agriculture. (C)</p> Signup and view all the answers

<p>Economic growth refers to an increase in a country's real GDP or real GDP per capita over time, while economic development encompasses improvements in standards of living, income equity, and general well-being of the population. (D)</p> Signup and view all the answers

<p>To promote economic growth through expanded markets (C)</p> Signup and view all the answers

<p>Increasing government expenditure and redistribution of income (B)</p> Signup and view all the answers

<p>To reduce dependence on imports and support local industries (B)</p> Signup and view all the answers

<p>To meet basic needs and develop human resources (A)</p> Signup and view all the answers

<p>Nations can focus on the production of goods for which they have a comparative advantage (D)</p> Signup and view all the answers

<p>It measures the standard of living of a country (B)</p> Signup and view all the answers

<p>Ensuring the self-sufficiency of crucial industries vital for national security (C)</p> Signup and view all the answers

<p>To support domestic industries and increase exports (B)</p> Signup and view all the answers

<p>To restrict international trade and protect local industries (C)</p> Signup and view all the answers

<p>Consumers have access to a wider variety of goods and services at lower prices (B)</p> Signup and view all the answers

<p>It focuses on improving the quality of the labor force and managing natural resources (A)</p> Signup and view all the answers

<p>To halve unemployment and poverty by improving average economic growth (A)</p> Signup and view all the answers

<p>It promotes economic efficiency and reduces government intervention (B)</p> Signup and view all the answers

<p>To safeguard jobs against the threats posed by cheaper imported goods (C)</p> Signup and view all the answers

<p>It promotes more efficient allocation of resources globally (C)</p> Signup and view all the answers

<p>To meet basic needs and develop human resources (B)</p> Signup and view all the answers

<p>It involves government actions and policies that restrict or restrain international trade (A)</p> Signup and view all the answers

<p>To reduce dependence on imports and promote economic diversification (A)</p> Signup and view all the answers

<p>A significant disparity exists between the developed and developing countries (D)</p> Signup and view all the answers

<p>It promotes innovation and improves international relations (B)</p> Signup and view all the answers

<p>To bridge the skills gap in the workforce to meet the demands of new and evolving industries (D)</p> Signup and view all the answers

<p>Producer Price Index (PPI) (B)</p> Signup and view all the answers

<p>It indicates the overall health and longevity of the population (C)</p> Signup and view all the answers

<p>To support industrial activities through continued investment in infrastructure (A)</p> Signup and view all the answers

<p>Access to Health Services (D)</p> Signup and view all the answers

<p>It indicates the percentage of eligible children attending schools (C)</p> Signup and view all the answers

<p>To compare South Africa's performance with that of other countries (C)</p> Signup and view all the answers

<p>It is essential for quality of life and a basic indicator of infrastructural development (D)</p> Signup and view all the answers

<p>To compare the rate of export prices to import prices (A)</p> Signup and view all the answers

<p>To provide insights into the dynamics of the economy and formulate policy responses (B)</p> Signup and view all the answers

<p>Increasing economic growth and sustainable development (C)</p> Signup and view all the answers

<p>Integrated Manufacturing Strategy (IMS) (A)</p> Signup and view all the answers

<p>Governance and Transparency (B)</p> Signup and view all the answers

<p>To attract businesses and stimulate economic activities (C)</p> Signup and view all the answers

<p>Economic Diversification (A)</p> Signup and view all the answers

<p>To target underdeveloped areas for infrastructure and industrial development (C)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>Implementation Gaps (C)</p> Signup and view all the answers

<p>To offer incentives like tax breaks and infrastructure support to attract investments (B)</p> Signup and view all the answers

<p>Boosting innovation across industries (C)</p> Signup and view all the answers

<p>Import Substitution (D)</p> Signup and view all the answers

<p>Meeting basic needs and developing human resources (B)</p> Signup and view all the answers

<p>Targeting halving unemployment and poverty (C)</p> Signup and view all the answers

<p>Job creation and identifying job drivers (C)</p> Signup and view all the answers

<p>Improving the quality of the labor force through education and training (A)</p> Signup and view all the answers

<p>Enhancing productivity and innovation (A)</p> Signup and view all the answers

<p>Involvement in SACU and SADC, and partnerships with major economies (D)</p> Signup and view all the answers

<p>Increasing the country's participation in the global market (D)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>Enhancing consumption among lower-income earners (D)</p> Signup and view all the answers

<p>Reduced government revenue (C)</p> Signup and view all the answers

<p>Enhanced productivity (B)</p> Signup and view all the answers

<p>Job preservation (B)</p> Signup and view all the answers

<p>To restrict imports (C)</p> Signup and view all the answers

<p>Restrictions on international trade (D)</p> Signup and view all the answers

<p>Unfair competition (B)</p> Signup and view all the answers

<p>Reduced dependency on imports (A)</p> Signup and view all the answers

<p>Access to a wider variety of goods and services (C)</p> Signup and view all the answers

<p>Self-sufficiency in crucial industries (D)</p> Signup and view all the answers

<p>Comparative advantage (B)</p> Signup and view all the answers

<p>Guiding the overall industrial strategy of South Africa (A)</p> Signup and view all the answers

<p>To attract foreign investment and stimulate economic activities (A)</p> Signup and view all the answers

<p>Promoting sustainable industrial practices (C)</p> Signup and view all the answers

<p>To target underdeveloped areas for infrastructure and industrial development (A)</p> Signup and view all the answers

<p>Implementation gaps between policy goals and actual outcomes (C)</p> Signup and view all the answers

<p>To boost innovation across industries (A)</p> Signup and view all the answers

<p>Detailing specific actions to implement the National Industrial Policy Framework (NIPF) (B)</p> Signup and view all the answers

<p>To address high unemployment rates through labor-intensive industrial activities (D)</p> Signup and view all the answers

<p>Assessing the impact on economic growth and job creation (C)</p> Signup and view all the answers

<p>To improve the competitiveness of the manufacturing sector (C)</p> Signup and view all the answers

<p>To gauge the proportion of the population that is employed (A)</p> Signup and view all the answers

<p>It compares the rate of export prices to import prices (B)</p> Signup and view all the answers

<p>To evaluate the effectiveness of healthcare systems (A)</p> Signup and view all the answers

<p>It impacts future workforce skills and economic growth (D)</p> Signup and view all the answers

<p>To understand how South Africa compares to other nations, highlighting areas of strength and those requiring improvement (A)</p> Signup and view all the answers

<p>It is essential for quality of life and a basic indicator of infrastructural development (A)</p> Signup and view all the answers

<p>To influence other interest rates across the economy (A)</p> Signup and view all the answers

<p>It is a measure of the overall health and longevity of the population (C)</p> Signup and view all the answers

<p>To gauge the value of the South African rand against other currencies, affecting trade competitiveness (A)</p> Signup and view all the answers

<p>To reflect the average movement of selling prices from domestic production over time (D)</p> Signup and view all the answers

<p>To guide the overall industrial strategy of South Africa (A)</p> Signup and view all the answers

<p>To offer incentives to attract businesses and stimulate economic activities (A)</p> Signup and view all the answers

<p>Ensuring governance and transparency in policy implementation (B)</p> Signup and view all the answers

<p>To mitigate regional disparities and promote equitable economic development (D)</p> Signup and view all the answers

<p>To address high unemployment rates through industrial activities (A)</p> Signup and view all the answers

<p>To target underdeveloped areas for infrastructure and industrial development (D)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>All of the above (D)</p> Signup and view all the answers

<p>To boost innovation across industries (D)</p> Signup and view all the answers

<p>To promote economic growth and sustainable development (B)</p> Signup and view all the answers

<p>To encourage the development of emerging domestic industries (C)</p> Signup and view all the answers

<p>Protection of local jobs (B)</p> Signup and view all the answers

<p>Government intervention versus laissez-faire (A)</p> Signup and view all the answers

<p>They can lead to trade wars (A)</p> Signup and view all the answers

<p>To protect emerging domestic industries (B)</p> Signup and view all the answers

<p>Preservation of jobs (B)</p> Signup and view all the answers

<p>To safeguard jobs against cheaper imported goods (D)</p> Signup and view all the answers

<p>Economies of scale (A)</p> Signup and view all the answers

<p>To support the development of diverse local industries (B)</p> Signup and view all the answers

<p>Access to a wider variety of goods and services (A)</p> Signup and view all the answers

<p>Increased government expenditure (A)</p> Signup and view all the answers

<p>Halving unemployment and poverty (C)</p> Signup and view all the answers

<p>Significant disparity in income levels and economic stability (B)</p> Signup and view all the answers

<p>Encouraging export promotion and import substitution (C)</p> Signup and view all the answers

<p>Promoting more efficient allocation of resources globally (A)</p> Signup and view all the answers

<p>Improving the quality of the labor force (A)</p> Signup and view all the answers

<p>Meeting basic needs and developing human resources (C)</p> Signup and view all the answers

<p>Improvements in standards of living, income equity, and general well-being (B)</p> Signup and view all the answers

<p>Creating jobs and identifying job drivers (D)</p> Signup and view all the answers

<p>Encouraging local production of goods that were previously imported (C)</p> Signup and view all the answers

<p>To formulate policies and evaluate their impact (C)</p> Signup and view all the answers

<p>Exchange Rate (D)</p> Signup and view all the answers

<p>It impacts future workforce skills and economic growth (B)</p> Signup and view all the answers

<p>To compare South Africa's performance with global standards (B)</p> Signup and view all the answers

<p>It measures the overall health and longevity of the population (C)</p> Signup and view all the answers

<p>To compare export prices to import prices (A)</p> Signup and view all the answers

<p>It indicates the availability of essential services like electricity, water, and sanitation (A)</p> Signup and view all the answers

<p>To influence other interest rates across the economy (B)</p> Signup and view all the answers

<p>It indicates the proportion of the economically active population that is employed (A)</p> Signup and view all the answers

<p>To identify areas needing intervention and evaluate policy impact (B)</p> Signup and view all the answers