Economics Grade 10 March Test 2022 Question Paper

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Cuunulilics Downloaded from hlayiso.com Wall 2UZe VUIUIT PDE 2 NSC-Grade 10 INSTRUCTIONS AND INFORMATION 10. 11. Answer THREE questions as follows: . SECTION A: COMPULSORY SECTION B: Answer ONE question from this section. SECTION C: Answer ONE question from this section. Number the answers correctly according to the numbering system used in this question paper. Write the number of each question above each answer. Read the questions carefully and start EACH question on a new page. Leave at least ONE line between subsections of each question. Start each question on a new page. Answer questions in full sentences and ensure that the format, content and context of your responses comply with the cognitive requirements of the questions. Answer ONLY the required number of questions. Answers in excess of the required number will NOT be marked. Use ONLY blue or black ink. Non-programmable pocket calculators may be used. Write legibly and present your work neatly. Copyright reserved Please turn over

Downloaded from hlayiso.com Economics 3 March 2022 Common Test NSC-Grade 10 SECTION A (COMPULSORY) QUESTION 1 20 MARKS-20 MINUTES 1.1 Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A-D) next to the question number (1.1.1 -1.1.8) in the ANSWER BOOK, e.g. 1.1.1. B at society cannot live without are called ... merit xury. 1.1.2 All machines and resources that are used to produce other goods are called... A Natural resources B Land C Capital D Production 1.1.3 The process of trade that take place when goods and services are traded for money is called ... A Consumption B Exchange C Bartering D Intermediate 1.1.4 The situation where the country buys goods and services from other countries is known as... A Imports B Exports C Investment D Specialisation 1.1.5 Internal factors that affect the business cycle are referred to as ... A Exogenous B Amplitute C Extrapolation D Endogenous Copyright reserved Please turn over

Downloaded from hlayiso.com Economics 4 March 2022 Common Test NSC-Grade 10 1.2. Choose descriptions from COLUMN B that matches items in COLUMN A. Write only a letter (A — G) next to the question number (1.2.1 — 1.2.6) in the ANSWER BOOK, e.g. 1.2.9 B. COLUMN A COLUMN B 1.2.1 Economic model A. The deposits of money into the circular flow. 1.2.2 Economic efficiency B. The general direction in which the economy is moving. 1.2.3. Scientific method _ Cc. The situation where businesses make the best f ices. 4.2.4 Absolute scarcity use of resources to produce goods and services D. The simplification of reality that make people to 1.2.5 Injection understand theories and real world. 1.2.6 Trend line E. The situation where there are means and resources to buy the products but there is no supply of the product. F. There is enough product, but no resources to buy. G. The process whereby economists collect data and information to analyse behaviour of certain variables. (1x6) (6) 1.3. Give one term for each of the following descriptions. Write only the term next to the question number (1.3.1 — 1.3.4) in the ANSWER BOOK. (Acronym and abbreviation not allowed) 1.3.1 The social science that studies how scarce resources can be used to satisfy unlimited wants. 1.3.2 The value of the best alternative that could have been chosen. 1.3.3. The movement of goods and services in the circular flow. 1.3.4. The type of indicator that change after the economy changes. (1x4) (4) TOTAL SECTION A: [20] Copyright reserved Please turn over

Downloaded from hlayiso.com Economics 5 March 2022 Common Test NSC-Grade 10 SECTION B 40 MARKS — 30 MINUTES Choose ONE question from this section. QUESTION 2 2.1. Answer the following questions. 2.1.1 Name TWO branches of economics. (2x1) (2) 2.1.2. How does the scarcity of electricity affect businesses? (1x2) (2) 2.2. Study the extract below and answer the questions that follow. SA, WHO discuss vaccine production Monday, February 14, 2022 The President met with World Health Organisation (WHO)Director-General, Dr. Tedros Ghebreyesus, in Cape Town on Friday, to discuss progress in making Africa Self-sufficient in the production of COVID-19 vaccines and related treatments. SA news.gov.za 2.2.1. Which sector is responsible for production in the economy? (1) 2.2.2 Name ONE benefit of producing vaccines in South Africa. (1) 2.2.3 Describe the term natural resources. (2) 2.2.4 What is the role of primary sector in the economy? (2) 2.2.5 How can labour intensive industries improve the livelihood of households? (2x2) (4) (10) Copyright reserved Please turnover

Downloaded from hlayiso.com Economics 6 NSC-Grade 10 2.3. Study the table below and answer questions that follow. March 2022 Common lest NATIONAL INCOME ACCOUNTS OF SOUTH AFRICA R MILLION 2019 2020 Compensation of employees 2754 175) 2 656 034 Net operating surplus 1 473 181) 1491 097 Consumption of fixed capital 725704) 753 862 Gross value added at factor cost 4953 060)4 900 993 Other taxes on production 117904) 110 138 LESS: Subsides on production 11 256 11214 — (A) evsesess 5 059 708) 4999 917 Taxes on products 580 765) 538 007 LESS: Subsides on products 10 006 14 804 Gross domestic product at market prices 5 630 467] (B) Source: SARB Quarterly Bulletin 2.3.1. Name ONE other method used to calculate national accounts aggregate not shown above. 2.3.2 Mention the item represented by letter A. 2.3.3. Briefly describe the term gross domestic expenditure (GDE). 2.3.4 What is the importance of calculating GDP in the economy? 2.3.5 Calculate the value of B. Show all calculations. 2.4 — Differentiate between normative and positive statements. 2.5 Howcan the government solve the environmental problems? Copyright reserved (1) (1) (2) (2) (4) (10) (4x2) (8) (8) [40] Please turn over

Downloaded from hlayiso.com Economics iL March 2022 Common Test NSC-Grade 10 QUESTION 3 40 MARKS — 30 MINUTES 3.1. Answer the following questions appropriately. 3.1.1 Name any TWO turning points of the business cycle. (1x2) (2) 3.1.2 Why is it important for politicians to study Economics? (2x1) (2) 3.2. Study the extract below and answer the questions that follow: 3.2.1. Which human right is violated from the above picture? (1) 3.2.2 Name the institution that protect human rights. (1) 3.2.3 Describe the term factor market. (2) 3.2.4 What role can businesses play to improve access to education? (2) 3.2.5 How can government promote fair labour practice in South Africa? (2 x2) (4) (10) Copyright reserved Please turn over

Downloaded from hlayiso.com Economics 8 March 2022 Common lest NSC-Grade 10 3.3. Study the graph below and answer the questions that follow: BUSINESS CYCLES Index of economic activities . Trend line Time Source: google.images 3.3.1 Identify the phase C to D that is shown in the graph above. (1) 3.3.2 Name the period from E to G. (1) 3.3.3 Briefly describe the term business cycle. (2) 3.3.4 Explain how the recession negatively affects the economy. (2) 3.3.5 How can natural disasters like floods affect the economy? (2x2) (4) 3.4 Differentiate between free goods and economic goods. (4x2) (8) 3.5 How do consumers spend their income on different categories of final goods and services? (8) TOTAL SECTION B: [40] Copyright reserved Please turn over

Downloaded from hlayiso.com Economics 9 March 2022 Common Test NSC-Grade 10 SECTION C Answer any ONE of the two questions in this section in the ANSWER BOOK. MARK STRUCTURE OF ESSAY ALLOCATION Introduction Max. 2 Body: Max. 26 Main part: Discuss in detail/In-depth discussion/Examine/ Critically discuss/ Analyse/Compare/ Evaluate/Distinguish/Differentiate/Explain/ Assess/Debate. Additional part: Give own opinion/Critically discuss/ Evaluate/Critically evaluate/ Draw a graph and explain/Use the graph given and explain/ Complete the given graph/Calculate/Deduce/Compare/ Explain/ Distinguish/Interpret/ Briefly debate. Max. 10 Conclusion: Any higher-order conclusion should include: * A brief summary of what has been discussed without repeating facts already mentioned in the body * Any opinion or valued judgement on the facts discussed + Additional support information to strengthen the discussion/ analysis + Acontradictory viewpoint with motivation, if required Max. 2 TOTAL [40] QUESTION 4 Discuss the role of participants in the circular flow. (26) How can markets contribute to the economy? (10) (40) QUESTION 5 Discuss the effects of the business cycles under the following sub- headings: e Changes in demand and supply. « Changes in economic growth. e Changes in price levels. (26) How can government affect the changes in employment positively? (10) (40) TOTAL SECTION C: [40] GRAND TOTAL: [100] Copyright reserved

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