240 Questions
What is the primary goal of protectionism?
To protect local businesses and jobs from foreign competition
What is free trade?
A policy to eliminate discrimination against imports and exports
What is the infant industry argument for protectionism?
To protect emerging domestic industries that are not yet competitive enough to withstand international competition
What is the benefit of free trade in terms of consumer choice?
Consumers have access to a wider variety of goods and services, often at lower prices
What is a common tool used to implement protectionism?
Tariff and quota
What is the national security argument for protectionism?
To ensure the self-sufficiency of crucial industries that are vital for national security
What is the dumping argument for protectionism?
Protecting local businesses from foreign companies that might dump goods at a lower cost than they are produced domestically
What is the benefit of specialization in free trade?
Countries can focus on producing goods for which they have a comparative advantage
What is the primary goal of free trade?
To enhance consumer choice and foster innovation
What is the preservation of jobs argument for protectionism?
Safeguarding jobs against the threats posed by cheaper imported goods
What is the primary goal of Export Promotion policies in South Africa?
To encourage local firms to export their goods
What is the main difference between economic growth and economic development?
Economic growth focuses on GDP growth, and economic development focuses on income equity
What is the aim of Redistribution of Income policies in the demand-side approach to economic growth?
To increase consumption among lower-income earners
Which of the following is a characteristic of the Supply-side approach to economic growth?
Improving the quality of the labor force
What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?
To meet basic needs and develop human resources
What is the main characteristic of the North/South divide?
Disparity in income levels between developed and developing countries
What is the primary goal of the Growth, Employment and Redistribution (GEAR) approach in South Africa?
To aim at market-led growth, fiscal and monetary discipline, and enhancing investor confidence
What is a key aspect of the New Growth Path (NGP) framework in South Africa?
Focus on job creation and identifying job drivers like infrastructure and agriculture
What is the main goal of Import Substitution policies in South Africa?
To encourage local production of goods that were previously imported
What is a key aspect of South Africa's trade policies?
Involvement in SACU, SADC, and partnerships with major economies like China and the EU
What is the main objective of South Africa's industrial policies?
To promote economic growth and sustainable development
What is the purpose of the National Industrial Policy Framework (NIPF)?
To guide the overall industrial strategy of South Africa
What is the main goal of South Africa's industrial development policies regarding regional development?
To reduce economic disparities between regions
What is an important aspect of South Africa's industrial strategies in line with international best practices?
Ensuring governance and transparency
What is a key focus area of South Africa's National Research and Development Strategy (NRDS)?
Boosting innovation across industries
What is the purpose of Industrial Development Zones (IDZs) and Special Economic Zones (SEZs)?
To offer incentives like tax breaks and infrastructure support to attract investments
What is an important consideration when evaluating the effectiveness of South Africa's industrial strategies?
The impact on economic growth
What is a challenge facing South Africa's industrial policies?
Implementation gaps
What is the purpose of Spatial Development Initiatives (SDIs)?
To target underdeveloped areas for infrastructure and industrial development
What is a key justification for South Africa's industrial policies?
Economic diversification and job creation
What is the primary purpose of economic and social indicators in South Africa?
To assess the country's economic and social performance and inform policy decisions
Which indicator measures the average price change of goods and services purchased by households?
Consumer Price Index (CPI)
What does the Employment Rate indicate?
The proportion of the EAP that is employed
What is the Exchange Rate in the context of foreign trade?
The value of the South African rand against other currencies
What is the primary purpose of the Repo Rate?
To influence other interest rates across the economy
What is the significance of Life Expectancy as a social indicator?
It measures the overall health and longevity of the population
What is the purpose of international comparisons in the context of economic and social indicators?
To gauge the country's progress and alignment with global standards
What is the significance of Access to Basic Services as a social indicator?
It is essential for quality of life and a basic indicator of infrastructural development
What is the purpose of the Terms of Trade in the context of foreign trade?
To compare the rate of export prices to import prices
What is the significance of Enrollment Rates as a social indicator?
It impacts future workforce skills and economic growth
Which of the following promotes more efficient allocation of resources globally?
Economic Efficiency
What is the primary goal of Import Substitution policies in South Africa?
To reduce dependency on foreign goods
What is the focus of the Reconstruction and Development Programme (RDP) in South Africa?
Meeting basic needs
What is a characteristic of the North/South divide?
Significant disparity in income levels
What is the aim of Redistribution of Income policies in the demand-side approach to economic growth?
To enhance consumption among lower-income earners
What is the primary goal of the Growth, Employment and Redistribution (GEAR) approach in South Africa?
Market-led growth
Which of the following is a key aspect of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?
Halving unemployment and poverty
What is the primary goal of the New Growth Path (NGP) framework in South Africa?
Job creation
What is the benefit of Economic Efficiency?
Enhanced productivity and innovation
Which of the following is a characteristic of the Supply-side approach to economic growth?
Improving the quality of the labor force
What is the primary focus of South Africa's industrial policies?
Increasing industrial activity and diversifying the economy
What is the purpose of the National Industrial Policy Framework (NIPF)?
To guide the overall industrial strategy of South Africa
What is a key justification for South Africa's industrial policies?
All of the above
What is the main goal of Industrial Development Zones (IDZs) and Special Economic Zones (SEZs)?
To offer incentives to attract businesses and stimulate economic activities
What is an important aspect of South Africa's industrial strategies in line with international best practices?
All of the above
What is an important consideration when evaluating the effectiveness of South Africa's industrial strategies?
All of the above
What is a challenge facing South Africa's industrial policies?
All of the above
What is the primary purpose of Spatial Development Initiatives (SDIs)?
To target underdeveloped areas for infrastructure and industrial development
What is a key focus area of South Africa's National Research and Development Strategy (NRDS)?
Boosting innovation across industries
What is the main goal of South Africa's industrial development policies regarding regional development?
Reducing economic disparities between regions
What is the primary purpose of Skills Development in South Africa?
To address skills gap in the workforce
What does the Producer Price Index (PPI) reflect?
The average movement of selling prices from domestic production over time
What is the purpose of the Repo Rate?
To influence other interest rates across the economy
What is the primary goal of government policies that restrict or restrain international trade?
To protect local businesses and jobs from foreign competition
What does the Unemployment Rate measure?
The percentage of the labor force that is unemployed but actively seeking employment
Which of the following is a benefit of free trade?
Fostering innovation
What is the main argument for protecting emerging domestic industries?
Infant industry argument
What is the purpose of International Comparisons in the context of economic and social indicators?
To gauge South Africa's economic performance compared to other countries
What is the benefit of specialization in international trade?
Nations can focus on the production of goods for which they have a comparative advantage
What does the Enrollment Rate measure?
The proportion of eligible children attending schools
What is the primary goal of implementing tariffs, quotas, and subsidies?
To protect local businesses and jobs
What is the purpose of Economic and Social Indicators?
To gauge South Africa's economic performance and identify areas needing intervention
What is the benefit of free trade in terms of economic growth?
Fostering innovation and improved international relations
What does the Terms of Trade measure?
The comparison of the rate of export prices to import prices
What is the primary goal of reducing dependency on imports?
To support the development of diverse local industries
What is the purpose of Infrastructure Development in South Africa?
To support industrial activities through continued investment in infrastructure
What is the significance of Access to Basic Services as a social indicator?
It is an essential indicator of economic stability and quality of life
What is the benefit of protectionism in terms of job preservation?
Safeguarding jobs against the threats posed by cheaper imported goods
What is the primary goal of ensuring the self-sufficiency of crucial industries?
To ensure national security
What is the primary goal of preventing dumping?
To protect local businesses from foreign companies that might dump goods at a lower cost
What is the primary implication of protectionism on international trade?
Discouragement of international trade
Which of the following is a benefit of free trade that is not an argument for protectionism?
Access to a wider variety of goods and services
What is the primary goal of economic policies that promote infant industry protection?
To protect local businesses from foreign competition
Which of the following is a common effect of tariffs, a tool used to implement protectionism?
Increased prices of imported goods
What is the primary advantage of specialization, a key aspect of free trade?
Improved efficiency and productivity
Which of the following is a potential consequence of dumping, a concern addressed by protectionism?
Local businesses going out of business
What is the primary goal of economic diversification, an argument for protectionism?
To reduce dependency on imports
Which of the following is a characteristic of free trade that is not a characteristic of protectionism?
Elimination of discrimination against imports
What is the primary implication of protectionism on local industries?
Protection from foreign competition
Which of the following is a benefit of free trade that is not a direct benefit of protectionism?
Increased innovation
What is the primary purpose of economic and social indicators in South Africa?
To assess the country's economic and social well-being and inform policy decisions
Which economic indicator reflects the average movement of selling prices from domestic production over time?
Producer Price Index (PPI)
What does the Unemployment Rate measure?
The percentage of the labor force that is unemployed but actively seeking employment
What is the significance of Life Expectancy as a social indicator?
It reflects the overall health and longevity of the population
What is the primary purpose of international comparisons in the context of economic and social indicators?
To compare South Africa's performance with other countries and identify areas for improvement
What is the primary objective of South Africa's industrial policies?
To reduce dependence on traditional sectors like mining and promote growth in manufacturing and services
What is the significance of Access to Basic Services as a social indicator?
It reflects the government's ability to provide essential services
What is the primary purpose of the Repo Rate?
To influence other interest rates across the economy
What is the main focus of the Integrated Manufacturing Strategy (IMS)?
To enhance competitiveness in the manufacturing sector
What is a key justification for South Africa's industrial policies?
To address high unemployment rates through industrial activities
What is the significance of Enrollment Rates as a social indicator?
It reflects the government's commitment to improving education
What is the primary purpose of the Terms of Trade?
To compare the rate of export prices to import prices
What is the purpose of Special Economic Zones (SEZs)?
To offer incentives to attract businesses and stimulate economic activities
What is a key aspect of South Africa's industrial strategies in line with international best practices?
Focusing on sustainable industrial practices
What is the significance of Infant and Under-5 Mortality Rates as social indicators?
They reflect the effectiveness of healthcare systems
What is the purpose of Spatial Development Initiatives (SDIs)?
To promote regional development and reduce economic disparities between regions
What is a key consideration when evaluating the effectiveness of South Africa's industrial strategies?
All of the above
What is a challenge facing South Africa's industrial policies?
Implementation gaps between policy goals and actual outcomes
What is the purpose of the National Research and Development Strategy (NRDS)?
To boost innovation across industries
What is a key focus area of South Africa's industrial development policies?
Promoting regional development and reducing economic disparities between regions
What is the primary benefit of Economic Efficiency?
Promotes more efficient allocation of resources globally, enhancing productivity and innovation.
What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?
To meet basic needs, develop human resources, build the economy, and democratize state and society.
What is the main characteristic of the North/South divide?
A significant disparity exists between the developed 'North' and the developing 'South' in terms of income levels, economic stability, and access to resources.
What is the primary goal of Export Promotion policies in South Africa?
To support domestic industries to increase their exports, which can lead to higher production and economic growth.
What is the main focus of the Growth, Employment and Redistribution (GEAR) approach in South Africa?
Market-led growth, fiscal and monetary discipline, and enhancing investor confidence.
What is the primary goal of Import Substitution policies in South Africa?
To encourage local production of goods that were previously imported to strengthen domestic industries and reduce dependency on foreign goods.
What is the main characteristic of the Supply-side approach to economic growth?
Improving the Quality of the Labor Force, Managing and Using Natural Resources, Accumulating Capital Goods, Advancements in Technology, and Entrepreneurship.
What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?
To halve unemployment and poverty by improving average economic growth.
What is the primary goal of the New Growth Path (NGP) framework in South Africa?
To focus on job creation and identifying job drivers like infrastructure and agriculture.
What is the main difference between economic growth and economic development?
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.
What is the primary objective of South Africa's trade policies?
To promote economic growth through expanded markets
What is the focus of the Demand-side approach to economic growth?
Increasing government expenditure and redistribution of income
What is the primary objective of implementing protectionism in a country?
To reduce dependence on imports and support local industries
What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?
To meet basic needs and develop human resources
Which of the following is a benefit of free trade according to the concept of specialization?
Nations can focus on the production of goods for which they have a comparative advantage
What is the significance of the Human Development Index (HDI) in the context of the North/South divide?
It measures the standard of living of a country
What is the primary concern of the national security argument for protectionism?
Ensuring the self-sufficiency of crucial industries vital for national security
What is the primary goal of Export Promotion policies in South Africa?
To support domestic industries and increase exports
What is the primary objective of implementing tariffs in a country?
To restrict international trade and protect local industries
What is the primary benefit of free trade in terms of access to goods and services?
Consumers have access to a wider variety of goods and services at lower prices
What is the characteristic of the Supply-side approach to economic growth?
It focuses on improving the quality of the labor force and managing natural resources
What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?
To halve unemployment and poverty by improving average economic growth
Which of the following is an argument against protectionism?
It promotes economic efficiency and reduces government intervention
What is the primary objective of the preservation of jobs argument for protectionism?
To safeguard jobs against the threats posed by cheaper imported goods
What is the significance of Economic Efficiency in the context of international trade?
It promotes more efficient allocation of resources globally
What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?
To meet basic needs and develop human resources
Which of the following is a characteristic of protectionism?
It involves government actions and policies that restrict or restrain international trade
What is the primary objective of the economic diversification argument for protectionism?
To reduce dependence on imports and promote economic diversification
What is the characteristic of the North/South divide?
A significant disparity exists between the developed and developing countries
Which of the following is a benefit of free trade in terms of innovation?
It promotes innovation and improves international relations
What is the primary goal of Skills Development in South Africa's economy?
To bridge the skills gap in the workforce to meet the demands of new and evolving industries
Which economic indicator measures the average movement of selling prices from domestic production over time?
Producer Price Index (PPI)
What is the significance of the Life Expectancy indicator in South Africa's economy?
It indicates the overall health and longevity of the population
What is the purpose of Infrastructure Development in South Africa's economy?
To support industrial activities through continued investment in infrastructure
Which of the following is a social indicator?
Access to Health Services
What is the significance of the Enrollment Rates indicator in South Africa's economy?
It indicates the percentage of eligible children attending schools
What is the purpose of international comparisons in the context of economic and social indicators?
To compare South Africa's performance with that of other countries
What is the significance of the Access to Basic Services indicator in South Africa's economy?
It is essential for quality of life and a basic indicator of infrastructural development
What is the purpose of the Terms of Trade in the context of foreign trade?
To compare the rate of export prices to import prices
What is the primary purpose of economic and social indicators in South Africa?
To provide insights into the dynamics of the economy and formulate policy responses
What is the primary goal of South Africa's industrial policies?
Increasing economic growth and sustainable development
Which strategy focuses on enhancing competitiveness in the manufacturing sector?
Integrated Manufacturing Strategy (IMS)
What is an important aspect of South Africa's industrial strategies in line with international best practices?
Governance and Transparency
What is the purpose of Special Economic Zones (SEZs)?
To attract businesses and stimulate economic activities
What is a key justification for South Africa's industrial policies?
Economic Diversification
What is the purpose of Spatial Development Initiatives (SDIs)?
To target underdeveloped areas for infrastructure and industrial development
What is an important consideration when evaluating the effectiveness of South Africa's industrial strategies?
All of the above
What is a challenge facing South Africa's industrial policies?
Implementation Gaps
What is the purpose of Industrial Development Zones (IDZs)?
To offer incentives like tax breaks and infrastructure support to attract investments
What is the focus of South Africa's National Research and Development Strategy (NRDS)?
Boosting innovation across industries
Which of the following trade policies may lead to a reduction in the country's dependency on foreign goods?
Import Substitution
What is the primary objective of the Reconstruction and Development Programme (RDP) in South Africa?
Meeting basic needs and developing human resources
What is a key aspect of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?
Targeting halving unemployment and poverty
What is the primary goal of the New Growth Path (NGP) framework in South Africa?
Job creation and identifying job drivers
What is a characteristic of the Supply-side approach to economic growth?
Improving the quality of the labor force through education and training
What is the primary benefit of Economic Efficiency?
Enhancing productivity and innovation
What is a key aspect of South Africa's trade policies?
Involvement in SACU and SADC, and partnerships with major economies
What is the primary goal of Export Promotion policies in South Africa?
Increasing the country's participation in the global market
What is a characteristic of the North/South divide?
All of the above
What is the primary goal of Redistribution of Income policies in the demand-side approach to economic growth?
Enhancing consumption among lower-income earners
Which of the following is a potential drawback of protectionism?
Reduced government revenue
What is the primary advantage of specialization in free trade?
Enhanced productivity
Which of the following is a potential benefit of protectionism?
Job preservation
What is the primary purpose of tariffs in protectionism?
To restrict imports
What is the primary difference between protectionism and free trade?
Restrictions on international trade
What is the primary argument against dumping in protectionism?
Unfair competition
What is the primary goal of economic diversification in protectionism?
Reduced dependency on imports
What is the primary benefit of free trade for consumers?
Access to a wider variety of goods and services
What is the primary argument for national security in protectionism?
Self-sufficiency in crucial industries
What is the primary advantage of free trade for nations?
Comparative advantage
What is the primary focus of South Africa's National Industrial Policy Framework (NIPF)?
Guiding the overall industrial strategy of South Africa
What is the main objective of South Africa's Industrial Development Zones (IDZs) and Special Economic Zones (SEZs)?
To attract foreign investment and stimulate economic activities
What is a key aspect of South Africa's industrial strategies in line with international best practices?
Promoting sustainable industrial practices
What is the primary purpose of Spatial Development Initiatives (SDIs) in South Africa?
To target underdeveloped areas for infrastructure and industrial development
What is a key challenge facing South Africa's industrial policies?
Implementation gaps between policy goals and actual outcomes
What is the primary goal of South Africa's National Research and Development Strategy (NRDS)?
To boost innovation across industries
What is the primary focus of South Africa's Industrial Policy Action Plans (IPAPs)?
Detailing specific actions to implement the National Industrial Policy Framework (NIPF)
What is the main justification for South Africa's industrial policies?
To address high unemployment rates through labor-intensive industrial activities
What is an important aspect of evaluating the effectiveness of South Africa's industrial strategies?
Assessing the impact on economic growth and job creation
What is the primary goal of South Africa's Integrated Manufacturing Strategy (IMS)?
To improve the competitiveness of the manufacturing sector
What is the primary purpose of monitoring the Economically Active Population (EAP) in South Africa?
To gauge the proportion of the population that is employed
What is the significance of the Terms of Trade in the context of foreign trade in South Africa?
It compares the rate of export prices to import prices
What is the primary purpose of tracking the Infant and Under-5 Mortality Rates in South Africa?
To evaluate the effectiveness of healthcare systems
What is the significance of the Enrolment Rates as a social indicator in South Africa?
It impacts future workforce skills and economic growth
What is the primary purpose of international comparisons in the context of economic and social indicators in South Africa?
To understand how South Africa compares to other nations, highlighting areas of strength and those requiring improvement
What is the significance of the Access to Basic Services as a social indicator in South Africa?
It is essential for quality of life and a basic indicator of infrastructural development
What is the primary purpose of the Repo Rate in South Africa?
To influence other interest rates across the economy
What is the significance of the Life Expectancy as a social indicator in South Africa?
It is a measure of the overall health and longevity of the population
What is the primary purpose of tracking the Exchange Rate in the context of foreign trade in South Africa?
To gauge the value of the South African rand against other currencies, affecting trade competitiveness
What is the primary purpose of the Producer Price Index (PPI) in South Africa?
To reflect the average movement of selling prices from domestic production over time
What is the primary objective of South Africa's National Industrial Policy Framework (NIPF)?
To guide the overall industrial strategy of South Africa
What is the primary focus of South Africa's Industrial Development Zones (IDZs) and Special Economic Zones (SEZs)?
To offer incentives to attract businesses and stimulate economic activities
What is an important aspect of South Africa's industrial strategies in line with international best practices?
Ensuring governance and transparency in policy implementation
What is the primary goal of South Africa's industrial development policies regarding regional development?
To mitigate regional disparities and promote equitable economic development
What is a key justification for South Africa's industrial policies?
To address high unemployment rates through industrial activities
What is the primary focus of South Africa's Spatial Development Initiatives (SDIs)?
To target underdeveloped areas for infrastructure and industrial development
What is an important consideration when evaluating the effectiveness of South Africa's industrial strategies?
All of the above
What is a challenge facing South Africa's industrial policies?
All of the above
What is the primary focus of South Africa's National Research and Development Strategy (NRDS)?
To boost innovation across industries
What is the primary goal of South Africa's industrial policies?
To promote economic growth and sustainable development
What is the primary motivation behind governments adopting protectionist policies?
To encourage the development of emerging domestic industries
Which of the following is NOT a benefit of free trade?
Protection of local jobs
What is the primary difference between protectionism and free trade?
Government intervention versus laissez-faire
Which of the following is a common criticism of protectionist policies?
They can lead to trade wars
What is the primary goal of the infant industry argument for protectionism?
To protect emerging domestic industries
Which of the following is NOT an argument for free trade?
Preservation of jobs
What is the primary motivation behind the preservation of jobs argument for protectionism?
To safeguard jobs against cheaper imported goods
Which of the following is a benefit of specialization in free trade?
Economies of scale
What is the primary goal of economic diversification in protectionist policies?
To support the development of diverse local industries
Which of the following is an argument for free trade?
Access to a wider variety of goods and services
What is a key aspect of the Demand-side approach to economic growth?
Increased government expenditure
What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?
Halving unemployment and poverty
What is a characteristic of the North/South divide?
Significant disparity in income levels and economic stability
What is a key aspect of South Africa's trade policies?
Encouraging export promotion and import substitution
What is the primary benefit of economic efficiency?
Promoting more efficient allocation of resources globally
What is a key aspect of the Supply-side approach to economic growth?
Improving the quality of the labor force
What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?
Meeting basic needs and developing human resources
What is a characteristic of economic development?
Improvements in standards of living, income equity, and general well-being
What is the primary goal of the New Growth Path (NGP) framework in South Africa?
Creating jobs and identifying job drivers
What is the primary goal of Import Substitution policies in South Africa?
Encouraging local production of goods that were previously imported
What is the primary purpose of economic and social indicators in South Africa?
To formulate policies and evaluate their impact
Which indicator measures the value of the South African rand against other currencies?
Exchange Rate
What is the significance of Enrolment Rates as a social indicator?
It impacts future workforce skills and economic growth
What is the primary purpose of international comparisons in the context of economic and social indicators?
To compare South Africa's performance with global standards
What is the significance of Life Expectancy as a social indicator?
It measures the overall health and longevity of the population
What is the primary purpose of the Terms of Trade in the context of foreign trade?
To compare export prices to import prices
What is the significance of Access to Basic Services as a social indicator?
It indicates the availability of essential services like electricity, water, and sanitation
What is the primary purpose of the Repo Rate?
To influence other interest rates across the economy
What is the significance of the Employment Rate as an economic indicator?
It indicates the proportion of the economically active population that is employed
What is the primary purpose of economic and social indicators in terms of policy formulation?
To identify areas needing intervention and evaluate policy impact
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