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Hlayiso is South Africa's leading AI-powered study platform for Grade 10-12 students. Access CAPS-aligned summaries, past papers, quizzes, and flashcards for Maths, Physical Sciences, Life Sciences, English, Afrikaans, Accounting, and more. Get started today.

Grade 12 Economics Notes | Hlayiso | Hlayiso

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Grade 12 Economics Notes

CAPS-aligned Grade 12 Economics revision notes, broken down topic by topic with worked examples, diagrams, and key definitions.

Study Notes

The circular flow model, national account aggregates and the multiplier

• Key concepts
• The open economy circular flow model
• National account aggregates
• The multiplier

Business cycles and forecasting

• Key concepts
• The composition and features of business cycles
• Explanations
• Government policy

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Are the Grade 12 Economics notes free?

Yes. Every Grade 12 Economics revision note on Hlayiso is free to read once you’ve signed up. No paywall, no watermark.

Are the notes aligned with CAPS and the ATP?

Yes. All Grade 12 Economics notes are written against the official CAPS curriculum and ATP so you only study what’s examinable.

Can I download Economics notes as PDF?

Notes are optimised for reading online and on mobile. Paid subscribers can export any topic to PDF for offline study.

How often are the notes updated?

Notes are reviewed every term and updated after each release of the DBE’s subject guidelines so the content stays current.

• The new economic paradigm

• Features underpinning forecasting

The role of the public sector

• Key concepts
• Composition and necessity
• Problems of public sector provisioning
• Objectives of the public sector and its budgets
• Fiscal policy
• Public sector failure

The foreign exchange market and the balance of payments accounts

• Key concepts
• Reasons for international trade
• Balance of payments accounts
• Foreign exchange markets
• Establishment of foreign exchange rates
• Corrections of the balance of payments

Protectionism and free trade

• Key concepts
• Export promotion
• Import substitution
• Protection
• Free trade
• A desirable mix of protection and free trade
• Evaluation of South Africa's trade policies

The dynamics of perfect markets

• Key concepts
• Review of production, costs and revenue
• Perfect competition
• The individual business and the industry
• Market structures
• Output, profit, losses and supply
• How to draw graphs to show various equilibrium positions
• Competition policies

Dynamics of imperfect markets

• Key concepts
• Monopolies
• Output profit and loss
• Oligopolies
• Monopolistic competition
• Summary of market structures

The reasons for and consequences of market failures

• Key concepts
• The reasons for market failures
• Consequences/effects of market failures
• Cost-benefit analysis (CBA)

Economic growth and development

• Key concepts
• Economic growth, economic development, and the demand-side approach
• The supply-side approach
• Evaluation of South African approaches
• The North/South divide

South Africa’s industrial policies and their suitability in terms of international best practice

• Key concepts
• Industrial development policies in South Africa
• Regional development
• South Africa's endeavours
• Incentives to encourage industrial development
• Appropriateness of South Africa's industrial policies
• Appropriateness of SA regional, small business, and BEE policies

South African economic and social indicators

• Key concepts
• Economy performance and Economic indicators
• Social indicators
• International comparisons and Globalisation

Inflation

• Key concepts
• Measuring, types and characteristics of inflation
• The causes of inflation
• The consequences and measures to combat inflation

Tourism

• Key Concepts in Tourism
• Definition, Purposes, Measurement and Reasons for Growth
• Effects of Tourism
• Benefits of Tourism
• South Africa's Tourism Profile and Policy Suggestions

Environmental sustainability

• Key concepts
• The state of the environment
• Measures to ensure sustainability

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