South African Economy: Positive and Negative Factors
12 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a key characteristic of business organisations in a market economy?

  • They are not found in a market economy.
  • They are non-profit seeking institutions.
  • They are owned by the government.
  • They accept risks in pursuit of profit. (correct)

    • What is a major challenge facing the South African economy?

  • Modern transport/communication systems.
  • High levels of unemployment. (correct)
  • 100 per cent ownership permitted.
  • Large, growing domestic market.

    • What is a key difference between business organisations and government organisations?

  • Business organisations are owned by the government.
  • Government organisations offer products/services for profit.
  • Business organisations are non-profit seeking institutions.
  • Business organisations are private need-satisfying institutions of market economy. (correct)

    • What is the main goal of non-profit seeking organisations?

    <p>To satisfy social needs not met by private enterprise or government.</p> Signup and view all the answers

    What is an example of a government organisation in South Africa?

    <p>Eskom.</p> Signup and view all the answers

    What is a benefit of the South African economy?

    <p>Modern transport/communication systems.</p> Signup and view all the answers

    What is the primary goal of business organisations in a market economy?

    <p>to accept risks in pursuit of profit</p> Signup and view all the answers

    What is a characteristic common to all need-satisfying institutions in a market economy?

    <p>they solve the fundamental economic problem</p> Signup and view all the answers

    How do public corporations in South Africa differ from private businesses?

    <p>they offer products/services for profit, and are in competition with businesses</p> Signup and view all the answers

    What is a major obstacle facing the South African economy, according to the text?

    <p>high rates of crime and corruption</p> Signup and view all the answers

    What is a benefit of the South African economy mentioned in the text?

    <p>modern transport/communication systems</p> Signup and view all the answers

    What type of organisations offer services not provided by private enterprise or government organisations?

    <p>non-profit seeking organisations</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser