Economics: Special Economic Zones

Section B: Regional Development

• Good governance and investment in social capital are benchmark criteria for regional development.
• Import substitution is a trade policy implemented in South Africa, and its success can be evaluated.

Section C: Essay Guidelines

• The introduction should define the main concept related to the question topic.
• Avoid including parts of the question in the introduction and repeating any part of the introduction in the body.
• The introduction should not mention what will be discussed in the body.

Section C: Key Terms

• Autonomous consumption: spending that takes place irrespective of the level of income.
• New economic paradigm: a shift in economic thinking.
• Bureaucracy: official rules and regulations that can hinder service delivery.
• Mass production: the production of goods on a large scale.
• JIPSA: (no definition provided)
• Dumping: selling goods in another country at very low prices with which the local industry cannot compete.
• Economic growth: an increase in a country's production capacity.
• Copyright reserved: (no definition provided)

Section C: Integrated Manufacturing Strategy

• (no information provided)

Section 3.3: Special Economic Zones

• The Special Economic Zone Programme originated from national economic policies and strategies, such as the National Industry Policy Framework.
• The SEZ policy addresses challenges with current industrial development zones.
• Financial incentives, such as the Foreign Investment Grant and Critical Infrastructure Programme, promote regional development.

Section 3.3: Key Terms

• Spatial development initiative: a program aimed at promoting regional development.
• Industrial development zone: a designated area for industrial development.

Section 3.3: Questions

• The Foreign Investment Grant helps to promote regional industrial development by providing financial incentives.
• The new Special Economic Zone Programme is regarded as an improvement of the current industrial development zones because it addresses challenges with current industrial development zones.

Section 3.3: Demographics

• Population growth and life expectancy are characteristics of demographics as social indicators.

Section 3.3: Broad-Based Black Economic Empowerment (BBBEE)

• BBBEE is a policy aimed at promoting economic empowerment in South Africa.
• The success of BBBEE can be evaluated in terms of its impact on the South African economy.