June P1 Hard

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Questions and Answers

What is the primary function of natural resources in driving economic development?

  • To generate income for resource owners
  • To underpin international trade
  • To provide raw materials for goods and services (correct)
  • To provide employment opportunities

What determines the payment associated with natural resources?

  • Geographic location
  • Demand for the resource and its quality
  • Climate and technological advancements
  • All of the above (correct)

What is a characteristic of labor in the production process?

  • It is storable
  • It varies in skill level (correct)
  • It is easily substitutable
  • It is non-renewable

What is the primary reason for the uneven distribution of natural resources across regions?

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

What is a factor that affects labor supply?

<p>Population growth (B)</p> Signup and view all the answers

What is the form of remuneration received by labor in a market system?

<p>Wages and benefits (D)</p> Signup and view all the answers

What is a characteristic of natural resources?

<p>They vary in availability and renewability (D)</p> Signup and view all the answers

Why is a skilled workforce crucial for production and economic growth?

<p>Because productivity is heavily reliant on the level of skills and education (A)</p> Signup and view all the answers

What is the primary goal of initiatives like ASGISA and the New Economic Growth Path?

<p>To enhance growth, competitiveness, and employment (B)</p> Signup and view all the answers

What is the primary characteristic of the primary sector?

<p>It provides essential raw materials and energy (B)</p> Signup and view all the answers

What was the impact of apartheid policies on the primary sector?

<p>They restricted training and job opportunities for black individuals (C)</p> Signup and view all the answers

What is the primary importance of the secondary sector?

<p>It produces consumer and capital goods (D)</p> Signup and view all the answers

What is the primary goal of the Black Economic Empowerment Act and the Employment Equity Act?

<p>To promote equal opportunities and access for black individuals (A)</p> Signup and view all the answers

What is the primary importance of infrastructure in South Africa?

<p>It is essential for economic competitiveness (D)</p> Signup and view all the answers

What is the primary challenge facing South Africa's energy sector?

<p>Underinvestment in new power sources (A)</p> Signup and view all the answers

What is the primary contribution of the tertiary sector to the economy?

<p>It is the dominant contributor to GDP (C)</p> Signup and view all the answers

What is the primary goal of enhancing international competitiveness in South Africa?

<p>To maintain stable exchange rates (B)</p> Signup and view all the answers

What is the primary difference between the Income Method and the Expenditure Method of calculating GDP?

<p>The Income Method focuses on production, while the Expenditure Method focuses on consumption. (C)</p> Signup and view all the answers

What is the primary characteristic of the transport network in South Africa?

<p>It is extensive and facilitates domestic and international trade (C)</p> Signup and view all the answers

What is the main advantage of a market economy?

<p>Efficient production and innovation driven by profit motives. (C)</p> Signup and view all the answers

What is a characteristic of a centrally planned economy?

<p>State ownership of resources. (B)</p> Signup and view all the answers

What is the main advantage of a mixed economy?

<p>Balances freedom of market operations with government oversight. (B)</p> Signup and view all the answers

What is Gross National Income (GNI) equal to?

<p>GDP plus net income from abroad. (B)</p> Signup and view all the answers

What is the primary role of the government in South Africa's mixed economy?

<p>To provide social services and promote economic growth. (C)</p> Signup and view all the answers

What is a disadvantage of South Africa's mixed economy?

<p>Persistent issues with poverty and inequality. (B)</p> Signup and view all the answers

What is Gross Fixed Capital Formation (I) a reflection of?

<p>Total investment in physical assets for future production. (C)</p> Signup and view all the answers

What is a characteristic of a market economy?

<p>Predominantly private ownership of production factors. (C)</p> Signup and view all the answers

What does the Expenditure Method of calculating GDP include?

<p>C + I + G + (X - Z). (D)</p> Signup and view all the answers

What is the primary factor that influences wage levels?

<p>Demand for specific labor types and broader economic conditions (D)</p> Signup and view all the answers

What is the term used to describe the return on invested funds in capital?

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

What is the primary role of entrepreneurs in economic systems?

<p>To generate wealth, create jobs, and foster competition (B)</p> Signup and view all the answers

What is the term used to describe the total value of all final goods and services produced within a country's borders in a specific time period?

<p>Gross Domestic Product (GDP) (B)</p> Signup and view all the answers

What is the term used to describe the process of mobilizing resources, investing in capital, and employing labor?

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

What is the term used to describe the goods and services that are used as inputs in the production of other goods?

<p>Intermediate goods (D)</p> Signup and view all the answers

What is the term used to describe the total spending by households on non-durable, semi-durable, and durable goods as well as services?

<p>Consumption (C) (D)</p> Signup and view all the answers

What is the term used to describe the economic transactions that occur between different sectors of the economy?

<p>Circular Flow of Goods and Services (D)</p> Signup and view all the answers

What is the term used to describe the economic concepts that illustrate how capital affects productivity and economic output?

<p>Capital widening and deepening (C)</p> Signup and view all the answers

What is the primary reward for entrepreneurship?

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

Which of the following factors of production is categorized into renewable and non-renewable types?

<p>Natural Resources (D)</p> Signup and view all the answers

What is the primary reason for the importance of natural resources in driving economic development?

<p>Providing raw materials for goods and services (A)</p> Signup and view all the answers

What is a characteristic of labor that affects its supply?

<p>Time required for training (B)</p> Signup and view all the answers

What is the form of remuneration typically received by natural resources in a market system?

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

What is the primary characteristic of entrepreneurship as a factor of production?

<p>Risk-taking and innovation (A)</p> Signup and view all the answers

What is the primary way in which labor contributes to economic growth?

<p>Through productivity reliant on the level of skills and education (A)</p> Signup and view all the answers

What is a common challenge faced in the management of natural resources?

<p>Sustainable management (D)</p> Signup and view all the answers

What is the primary difference between skilled, semi-skilled, and unskilled labor?

<p>Level of skills and training (C)</p> Signup and view all the answers

Which of the following is NOT a characteristic of capital?

<p>It is a type of labor (B)</p> Signup and view all the answers

What is the primary role of entrepreneurs in the economy?

<p>To initiate and manage businesses, identifying new opportunities and innovatively combining production factors (A)</p> Signup and view all the answers

Which sector is responsible for extracting and harvesting natural resources in South Africa's economy?

<p>Primary sector (D)</p> Signup and view all the answers

What is the primary goal of initiatives like ASGISA and the New Economic Growth Path in South Africa?

<p>To enhance growth, competitiveness, and employment (D)</p> Signup and view all the answers

What is the circular flow of goods and services?

<p>A model that highlights the interdependence between different sectors and agents in the economic system (A)</p> Signup and view all the answers

What is the term used to describe the total value of all final goods and services produced within a country's borders in a specific time period?

<p>Gross Domestic Product (GDP) (C)</p> Signup and view all the answers

Which sector is the largest contributor to South Africa's GDP?

<p>Tertiary sector (B)</p> Signup and view all the answers

What is the primary reward for entrepreneurship?

<p>Profit, which compensates for the risks and efforts involved in starting and running a business (A)</p> Signup and view all the answers

What is the primary importance of South Africa's infrastructure?

<p>To facilitate international trade (D)</p> Signup and view all the answers

What was the impact of apartheid policies on the tertiary sector?

<p>Restricted ownership of businesses and property (A)</p> Signup and view all the answers

What is the term used to describe the economic concepts that illustrate how capital affects productivity and economic output?

<p>Capital widening and deepening (A)</p> Signup and view all the answers

What is the term used to describe the goods and services that are used as inputs in the production of other goods?

<p>Intermediate goods (D)</p> Signup and view all the answers

What is the primary characteristic of the primary sector?

<p>Extraction and harvesting of natural resources (B)</p> Signup and view all the answers

What is the term used to describe the total spending by households on non-durable, semi-durable, and durable goods as well as services?

<p>Consumption (C) (D)</p> Signup and view all the answers

What is the primary importance of the primary sector?

<p>Provides essential raw materials and energy (B)</p> Signup and view all the answers

What is the primary goal of enhancing international competitiveness in South Africa?

<p>To produce high-quality, competitively priced goods (A)</p> Signup and view all the answers

What is the primary factor that influences wage levels?

<p>The demand for specific labor types and the broader economic conditions (D)</p> Signup and view all the answers

What is the term used to describe the process of mobilizing resources, investing in capital, and employing labor?

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

What is the primary challenge facing South Africa's energy sector?

<p>Underinvestment in new power sources (B)</p> Signup and view all the answers

What is the primary importance of the secondary sector?

<p>Produces consumer and capital goods (D)</p> Signup and view all the answers

What is the primary difference between a market economy and a centrally planned economy?

<p>Economic freedom and competition among businesses versus centralized decision-making and planning (A)</p> Signup and view all the answers

What is the primary advantage of a mixed economy?

<p>Promotes economic growth while aiming to improve social welfare (D)</p> Signup and view all the answers

What is the primary role of the government in South Africa's mixed economy?

<p>Providing social services to improve public welfare (B)</p> Signup and view all the answers

What is the primary characteristic of Gross Fixed Capital Formation (I)?

<p>Total investment in physical assets used in future production (C)</p> Signup and view all the answers

What is the primary importance of the circular flow model?

<p>It provides insights into the effects of various sectors on economic growth and stability (C)</p> Signup and view all the answers

What is the primary factor that influences the allocation of resources in a market economy?

<p>Supply and demand forces (D)</p> Signup and view all the answers

What is the primary disadvantage of a market economy?

<p>Potential for significant inequalities in income and wealth distribution (D)</p> Signup and view all the answers

What is the primary role of entrepreneurs in economic systems?

<p>To respond to supply and demand forces to decide what, how, and for whom to produce (B)</p> Signup and view all the answers

What is the primary characteristic of Gross National Income (GNI)?

<p>GDP plus net income from abroad (C)</p> Signup and view all the answers

What is the primary advantage of the Expenditure Method of calculating GDP?

<p>It provides a more comprehensive picture of economic activity (D)</p> Signup and view all the answers

What is the primary reason why natural resources are essential for production?

<p>They drive economic development by providing raw materials. (B)</p> Signup and view all the answers

What is the primary factor that influences the payment associated with natural resources?

<p>Demand for the resource. (C)</p> Signup and view all the answers

What is the primary characteristic of labor that affects its supply?

<p>The time required for training. (C)</p> Signup and view all the answers

What is the primary form of remuneration received by labor in a market system?

<p>Wages. (D)</p> Signup and view all the answers

What is the primary characteristic of entrepreneurship as a factor of production?

<p>It is responsible for mobilizing resources. (C)</p> Signup and view all the answers

What is the primary way in which labor contributes to economic growth?

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

What is a common challenge faced in the management of natural resources?

<p>Sustainable management. (A)</p> Signup and view all the answers

What is the primary difference between skilled, semi-skilled, and unskilled labor?

<p>Level of skill. (B)</p> Signup and view all the answers

In South Africa's economy, which sector is responsible for producing consumer and capital goods?

<p>Secondary Sector (D)</p> Signup and view all the answers

What is a major challenge facing South Africa's energy sector?

<p>Insufficient emphasis on renewable energy (B)</p> Signup and view all the answers

Which of the following is a characteristic of the tertiary sector in South Africa's economy?

<p>Provides essential services to businesses and individuals (A)</p> Signup and view all the answers

What is the primary goal of initiatives like ASGISA and the New Economic Growth Path in South Africa?

<p>To enhance international competitiveness (D)</p> Signup and view all the answers

What is a major impact of apartheid policies on the primary sector in South Africa?

<p>Deprivation of land ownership and equal opportunities among black South Africans (C)</p> Signup and view all the answers

What is a primary importance of the secondary sector in South Africa's economy?

<p>Produces consumer and capital goods (D)</p> Signup and view all the answers

What is a primary characteristic of the primary sector in South Africa's economy?

<p>Involves the extraction and harvesting of natural resources (A)</p> Signup and view all the answers

What is the primary importance of the tertiary sector in South Africa's economy?

<p>Dominant contributor to GDP (C)</p> Signup and view all the answers

What is the primary goal of Black Economic Empowerment (BEE) in South Africa?

<p>To improve access and equity in the economy (C)</p> Signup and view all the answers

What is the primary importance of infrastructure in South Africa's economy?

<p>Facilitates domestic and international trade, boosting GDP and employment (A)</p> Signup and view all the answers

What is the primary reason why capital widening and deepening are essential concepts in understanding economic growth?

<p>To demonstrate how capital affects productivity and economic output (C)</p> Signup and view all the answers

Which of the following is NOT a characteristic of entrepreneurship?

<p>Providing labor to households (C)</p> Signup and view all the answers

What is the primary difference between Gross Domestic Product (GDP) and Gross National Income (GNI)?

<p>GDP measures the total value of goods and services produced within a country's borders, while GNI measures the total value of goods and services produced by a country's citizens, regardless of location (D)</p> Signup and view all the answers

What is the primary role of government in the circular flow of goods and services?

<p>To collect taxes and redistribute income through spending and transfers (B)</p> Signup and view all the answers

What is the primary purpose of the Value Added Method in calculating GDP?

<p>To sum the value added at each stage of production (B)</p> Signup and view all the answers

What is the primary advantage of using the Expenditure Method to calculate GDP?

<p>It allows for a more comprehensive understanding of the expenditure patterns of different sectors. (C)</p> Signup and view all the answers

What is the primary characteristic of intermediate goods?

<p>They are used as inputs in the production of other goods (B)</p> Signup and view all the answers

Which of the following is a characteristic of a mixed economy?

<p>Coexistence of private and public sectors with government intervention. (B)</p> Signup and view all the answers

What is the primary purpose of Gross Fixed Capital Formation (I) in the Expenditure Method?

<p>To reflect the total investment in physical assets for future production. (B)</p> Signup and view all the answers

What is the primary component of the circular flow of goods and services that represents the total spending by households on non-durable, semi-durable, and durable goods as well as services?

<p>Consumption (C) (B)</p> Signup and view all the answers

What is the primary reward for entrepreneurship in a market system?

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

What is the primary advantage of a market economy?

<p>Efficient production and innovation driven by profit motives. (A)</p> Signup and view all the answers

What is the primary economic concept that illustrates how capital affects productivity and economic output?

<p>Capital widening and deepening (B)</p> Signup and view all the answers

What is the primary difference between GDP and GNI?

<p>GDP includes only domestic production, while GNI includes both domestic and foreign production. (B)</p> Signup and view all the answers

Which of the following is a disadvantage of a mixed economy?

<p>Persistent issues with poverty and inequality. (D)</p> Signup and view all the answers

What is the primary characteristic of capital that is essential for economic growth?

<p>It is a factor of production that is necessary for production and sustains production capabilities (D)</p> Signup and view all the answers

What is the primary role of the government in South Africa's mixed economy?

<p>To promote economic growth through efficient economic services. (A), To provide social services to improve public welfare. (D)</p> Signup and view all the answers

What is the primary characteristic of a centrally planned economy?

<p>State ownership of resources and centralized decision-making. (D)</p> Signup and view all the answers

What is the primary importance of understanding the circular flow in an economy?

<p>It helps in understanding the effects of various sectors on economic growth and stability. (D)</p> Signup and view all the answers

What is the primary difference between the private and public sectors in a mixed economy?

<p>The private sector is responsible for promoting economic growth, while the public sector is responsible for providing social services. (A)</p> Signup and view all the answers

What is the primary distinction between natural resources and labor?

<p>One is storable, while the other is non-storable (B)</p> Signup and view all the answers

Which of the following is a consequence of the uneven distribution of natural resources?

<p>Economic development is hindered (A)</p> Signup and view all the answers

What is the primary influence on labor productivity?

<p>Level of skills and education (C)</p> Signup and view all the answers

Which of the following is a characteristic of entrepreneurship as a factor of production?

<p>Innovative and risk-taking (C)</p> Signup and view all the answers

What is the primary consequence of a lack of sustainable management of natural resources?

<p>Depletion of natural resources (D)</p> Signup and view all the answers

What is the primary form of remuneration received by labor in a market system?

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

Which of the following is a characteristic of capital as a factor of production?

<p>Man-made (B)</p> Signup and view all the answers

What is the primary reason natural resources are essential for production?

<p>They provide raw materials for goods and services (C)</p> Signup and view all the answers

Which of the following is a characteristic of a mixed economy?

<p>Coexistence of private and public sectors (C)</p> Signup and view all the answers

What is the primary advantage of a market economy?

<p>Efficient production and innovation driven by profit motives (D)</p> Signup and view all the answers

What is the primary role of the government in South Africa's mixed economy?

<p>Promoting economic growth through efficient economic services (D)</p> Signup and view all the answers

What is Gross Fixed Capital Formation (I) a reflection of?

<p>Total investment in physical assets that will be used in future production (C)</p> Signup and view all the answers

What is the primary importance of understanding the circular flow?

<p>It provides insights into how money and goods circulate within an economy (D)</p> Signup and view all the answers

What is the primary advantage of a centrally planned economy?

<p>Even distribution of income (D)</p> Signup and view all the answers

What is the primary disadvantage of South Africa's mixed economy?

<p>Persistent issues with poverty and inequality (B)</p> Signup and view all the answers

What does the Expenditure Method of calculating GDP include?

<p>C + I + G + (X - Z) (C)</p> Signup and view all the answers

What is Gross National Income (GNI) equal to?

<p>GDP plus net income from abroad (B)</p> Signup and view all the answers

What is the primary role of entrepreneurs in economic systems?

<p>To respond to the forces of supply and demand (A)</p> Signup and view all the answers

What is the primary function of capital in sustaining production capabilities?

<p>To match growth in labor and manage depreciation (D)</p> Signup and view all the answers

Which economic concept illustrates how capital affects productivity and economic output?

<p>Capital widening and deepening (D)</p> Signup and view all the answers

What is the primary reward for entrepreneurship?

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

What is the term used to describe the total value of all final goods and services produced within a country's borders in a specific time period?

<p>Gross Domestic Product (GDP) (D)</p> Signup and view all the answers

What is the primary role of entrepreneurs in economic systems?

<p>To initiate and manage business ventures (D)</p> Signup and view all the answers

What is the term used to describe the goods and services that are used as inputs in the production of other goods?

<p>Intermediate goods (D)</p> Signup and view all the answers

What is the term used to describe the total spending by households on non-durable, semi-durable, and durable goods as well as services?

<p>Consumption (C) (A)</p> Signup and view all the answers

What is the primary role of government in the circular flow of goods and services?

<p>To collect taxes and influence consumption and production (D)</p> Signup and view all the answers

What is the term used to describe the process of mobilizing resources, investing in capital, and employing labor?

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

What is the primary factor that influences wage levels?

<p>The demand for specific labor types (D)</p> Signup and view all the answers

Which sector in South Africa's economy has been the most dominant contributor to GDP, and has a historical context of discrimination and exclusion, particularly during the apartheid era?

<p>Tertiary Sector (A)</p> Signup and view all the answers

What has been the primary goal of initiatives like ASGISA and the New Economic Growth Path in South Africa?

<p>To enhance growth, competitiveness, and employment (A)</p> Signup and view all the answers

What has been the primary challenge facing South Africa's energy sector?

<p>Insufficient emphasis on renewable energy (D)</p> Signup and view all the answers

What has been the primary role of the government in South Africa's mixed economy?

<p>To provide services and regulate the economy (A)</p> Signup and view all the answers

What has been the primary aim of laws like the Black Economic Empowerment Act and the Employment Equity Act in South Africa?

<p>To dismantle barriers to black people's participation in the economy (A)</p> Signup and view all the answers

What has been the primary importance of infrastructure in South Africa?

<p>To facilitate domestic and international trade, boosting GDP and employment (D)</p> Signup and view all the answers

What has been the primary focus of South Africa's international competitiveness?

<p>To produce high-quality, competitively priced goods, maintaining stable exchange rates, and aligning inflation with major trading partners (A)</p> Signup and view all the answers

What has been the primary importance of the secondary sector in South Africa?

<p>To produce consumer and capital goods, enhancing economic self-sufficiency and growth (C)</p> Signup and view all the answers

What has been the primary historical context of exclusion in the primary sector in South Africa?

<p>Discrimination against black South Africans (C)</p> Signup and view all the answers

What has been the primary role of the Land Redistribution Programme in South Africa?

<p>To address the inequalities in land ownership and opportunities in the primary sector (B)</p> Signup and view all the answers

What is the primary distinction between natural resources and labor as factors of production?

<p>Natural resources are storable, whereas labor is non-storable (B)</p> Signup and view all the answers

What is the primary factor that affects the level of remuneration received by labor in a market system?

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

What is the primary reason why entrepreneurship is considered a factor of production?

<p>It is responsible for mobilizing resources (C)</p> Signup and view all the answers

What is the primary way in which natural resources drive economic development?

<p>By providing raw materials for goods and services (C)</p> Signup and view all the answers

What is the primary characteristic of capital as a factor of production?

<p>It is man-made (C)</p> Signup and view all the answers

What is the primary difference between skilled, semi-skilled, and unskilled labor?

<p>Their level of training (D)</p> Signup and view all the answers

What is the primary reason why sustainable management of natural resources is necessary?

<p>To ensure their availability for future generations (D)</p> Signup and view all the answers

What is the primary relationship between labor and economic growth?

<p>Labor productivity drives economic growth (D)</p> Signup and view all the answers

What is the primary characteristic of capital that sustains production capabilities?

<p>Its necessity for maintaining and expanding production (A)</p> Signup and view all the answers

What is the term used to describe the return on invested funds in capital?

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

What is the primary role of entrepreneurs in economic systems?

<p>To initiate and manage businesses (C)</p> Signup and view all the answers

What is the economic concept that illustrates how capital affects productivity and economic output?

<p>Capital widening and deepening (B)</p> Signup and view all the answers

What is the term used to describe the total value of all final goods and services produced within a country's borders in a specific time period?

<p>Gross Domestic Product (C)</p> Signup and view all the answers

What is the primary reason for the importance of capital in economic systems?

<p>It is necessary for maintaining and expanding production (C)</p> Signup and view all the answers

What is the term used to describe the goods and services that are used as inputs in the production of other goods?

<p>Intermediate goods (D)</p> Signup and view all the answers

What is the primary characteristic of entrepreneurship that drives economic renewal and innovation?

<p>Risk-taking (D)</p> Signup and view all the answers

What is the term used to describe the total spending by households on non-durable, semi-durable, and durable goods as well as services?

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

What is the primary role of the circular flow of goods and services?

<p>To demonstrate the interdependence between different sectors and agents in the economic system (C)</p> Signup and view all the answers

What is the main advantage of a mixed economy in South Africa?

<p>Balances freedom of market operations with government oversight (C)</p> Signup and view all the answers

What does Gross Domestic Product (GDP) measure?

<p>The total value of all final goods and services produced within a country's borders (A)</p> Signup and view all the answers

What is the primary role of the government in South Africa's mixed economy?

<p>To provide social services and promote economic growth (C)</p> Signup and view all the answers

What is the primary objective of South Africa's international competitiveness initiatives?

<p>To enhance global market position by producing high-quality goods (A)</p> Signup and view all the answers

Which of the following is a characteristic of a market economy?

<p>Private ownership of production factors and profit incentives (C)</p> Signup and view all the answers

Which sector of South Africa's economy is responsible for transforming raw materials from the primary sector into finished goods?

<p>Secondary Sector (B)</p> Signup and view all the answers

What is the primary purpose of the Expenditure Method of calculating GDP?

<p>To calculate the total value of all final goods and services (A)</p> Signup and view all the answers

What is Gross Fixed Capital Formation (I) a reflection of?

<p>Total investment in physical assets for future production (B)</p> Signup and view all the answers

What is the primary contribution of the tertiary sector to South Africa's economy?

<p>Dominating the country's GDP and employment (B)</p> Signup and view all the answers

What is the primary importance of understanding the circular flow?

<p>It provides insights into how money and goods circulate within an economy (C)</p> Signup and view all the answers

What is the primary challenge facing South Africa's energy sector?

<p>Underinvestment in new power sources and insufficient emphasis on renewable energy (C)</p> Signup and view all the answers

What is the primary disadvantage of a centrally planned economy?

<p>Lack of individual and corporate incentive to improve efficiency or innovate (A)</p> Signup and view all the answers

What is the primary goal of the Land Redistribution Programme in South Africa?

<p>To address the historical inequalities in land ownership and access to land (A)</p> Signup and view all the answers

What is the primary importance of infrastructure in South Africa?

<p>It facilitates domestic and international trade, boosting GDP and employment (B)</p> Signup and view all the answers

What is the primary characteristic of South Africa's mixed economy?

<p>Coexistence of private and public sectors (D)</p> Signup and view all the answers

What is the primary objective of initiatives like ASGISA and the New Economic Growth Path?

<p>To enhance growth, competitiveness, and employment (A)</p> Signup and view all the answers

What is the primary advantage of a market economy?

<p>Efficient production and innovation driven by profit motives (A)</p> Signup and view all the answers

What is the primary importance of the primary sector in South Africa's economy?

<p>It provides essential raw materials and energy (D)</p> Signup and view all the answers

What is the primary goal of the Black Economic Empowerment Act and the Employment Equity Act?

<p>To dismantle the barriers to entry in the tertiary sector (B)</p> Signup and view all the answers

What is the primary importance of the secondary sector in South Africa's economy?

<p>It produces consumer and capital goods, enhancing economic self-sufficiency and growth (B)</p> Signup and view all the answers

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Kwartaal 1 Toets
228 questions

Kwartaal 1 Toets

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Nov P1 Hard
408 questions

Nov P1 Hard

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