Economics Grade 11 P1 Gauteng June 2022 Question Paper (Eng)

Downloaded from hlayiso.com PROVINCIAL EXAMINATION JUNE 2022 GRADE 11 ECONOMICS (PAPER 1) TIME: 2 hours MARKS: 150 14 pages P.T.O.

Downloaded from hlayiso.com ECONOMICS 2 (PAPER 1) GRADE 11 INSTRUCTIONS AND INFORMATION 1. Answer FOUR questions as follows in the ANSWER BOOK: SECTION A: COMPULSORY SECTION B: Answer any TWO of the three questions. SECTION C: Answer any ONE of the two questions. 2. Answer only the required number of questions. Answers in excess of the required number will NOT be marked. 3. Number the answers according to the numbering system used in this question paper. 4. Write the question number above each answer. 5. Read the questions carefully. 6. Start each question on a NEW page. 7. Leave 2 – 3 lines open between sub-sections of questions. 8. Answer the questions in full sentences and ensure that the format, content and context of your responses comply with the cognitive requirements of the questions. 9. Use only black or blue ink. 10. Non-programmable calculators may be used. 11. Write neatly and legibly. P.T.O.

Downloaded from hlayiso.com ECONOMICS 3 (PAPER 1) GRADE 11 SECTION A (COMPULSORY) QUESTION 1 30 MARKS – 20 MINUTES 1.1 MULTIPLE-CHOICE QUESTIONS 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 numbers (1.1.1 – 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 E. 1.1.1 The remuneration or payment made for the use of factors of production which are limited in supply is called … A economic rent. B rent. C commercial rent. D interest. 1.1.2 In an economy where injections exceed leakages, the … A production of goods and services will decrease. B national income will decrease. C national income will increase. D gross value added in production will increase. 1.1.3 In a centrally-planned economy … A decision-making is centralised. B factors of production are privately owned. C private initiative and free choice are limited. D the prices of goods and services are determined by individuals. 1.1.4 The Coronavirus Disease 2019 was declared a pandemic by the … A World Trade Organisation. B World Health Organisation. C State President of South Africa. D South African Department of Health. 1.1.5 Goods which are regarded as socially harmful are known as ... goods . A merit B demerit C capital D public P.T.O.

Downloaded from hlayiso.com ECONOMICS 4 (PAPER 1) GRADE 11 1.1.6 In South Africa, parliament can be classified as the … A national arm of the state. B judicial arm of the state. C legislative arm of the state. D executive arm of the state. 1.1.7 The term ‘production’ in Economics, means the ... A provision of services or intangibles. B activities that provide the goods and services to satisfy wants. C buying of goods and services. D tertiary services. 1.1.8 Marginalised groups are excluded from … A society. B politics. C protection. D the economy. (8 x 2) (16) P.T.O.

Downloaded from hlayiso.com ECONOMICS 5 (PAPER 1) GRADE 11 1.2 MATCHING ITEMS Choose a description from COLUMN B that matches the concept in COLUMN A. Write only the letter (A – K) next to the question numbers (1.2.1 – 1.2.8) in the ANSWER BOOK, e.g. 1.2.9 L. COLUMN A COLUMN B 1.2.1 Economic growth A Relating to society and the economy 1.2.2 Socio-economic B The flow of goods and services 1.2.3 Economic rent C Resources are allocated by government 1.2.4 Gross Domestic D Industries of the primary sector Expenditure (GDE) E Ratio of output to input 1.2.5 Real flows F Increases at a rate equal to the rate of 1.2.6 Centrally planned increase of the work force economy G Payment made for the use of a factor of 1.2.7 Poverty line production which is limited in supply 1.2.8 Productivity H Have an expected life span of a few months I The minimum amount of money needed to pay for basic needs J C+I+G K An increase in the productive capacity of the economy over a specific period of time (8 x 1) (8) P.T.O.

Downloaded from hlayiso.com ECONOMICS 6 (PAPER 1) GRADE 11 1.3 CONCEPTS Give ONE term for each of the following descriptions. Write only the term next to the question numbers (1.3.1 – 1.3.6) in the ANSWER BOOK. Abbreviations, acronyms or examples will NOT be accepted. 1.3.1 Resources that are scarce and that people are willing to pay for 1.3.2 Production and prices are determined by unrestricted competition between privately owned businesses 1.3.3 State owned businesses like SABC and ESKOM 1.3.4 When something is short in supply or not readily available 1.3.5 This sector is associated with activities that include street sales and handicrafts 1.3.6 Incomes given by the state to individuals or businesses for a specific purpose (6 x 1) (6) TOTAL SECTION A: 30 P.T.O.

Downloaded from hlayiso.com ECONOMICS 7 (PAPER 1) GRADE 11 SECTION B Answer any TWO of the three questions from this section in the ANSWER BOOK. QUESTION 2: MACROECONOMICS 40 MARKS – 30 MINUTES 2.1 Answer the following questions. 2.1.1 Name any TWO levels of government. (2 x 1) (2) 2.1.2 Why is the public sector important? (1 x 2) (2) 2.2 Study the table below and answer the questions that follow. GROSS VALUE ADDED 2020, QUARTER 3 R (Millions) Gross value added at primary sector 320 281 Gross value added at secondary sector 945 944 Gross value added at tertiary sector 2 895 561 Gross value added at basic prices 4 161 786 2.2.1 Which method of calculating Gross Domestic Product was used above? (1) 2.2.2 As of year 2020, which year is currently used as the base year by the SARB? (1) 2.2.3 Briefly describe the concept Gross Value Added. (2) 2.2.4 What is the impact of a decline in primary sector activities on production? (2) 2.2.5 Calculate the % contribution of the secondary sector to the Gross Value Added at basic price. Show your calculations. (4) P.T.O.

Downloaded from hlayiso.com ECONOMICS 8 (PAPER 1) GRADE 11 2.3 Study the extract below and answer the questions that follow. RAMAPHOSA ENCOURAGES ENTREPRENEURSHIP AMONG YOUNG SOUTH AFRICANS Dineo Bendile JOHANNESBURG – Deputy President Cyril Ramaphosa says government is trying to reignite the spirit of entrepreneurship among young South Africans. The deputy president has stressed not only the importance of seizing educational opportunities, but also of encouraging entrepreneurship. He has told young people that they have a large role to play in the growth of South Africa’s economy. Ramaphosa’s spokesperson, Tyrone Seale says, “As we create these opportunities, we are doing so holistically. We’re looking at them as total citizens and total social beings …” [Edited by Tamson Wort – News 24] 2.3.1 Identify ONE other factor of production not mentioned in the extract above. (1) 2.3.2 Before which year would this extract have been written? (1) 2.3.3 Describe the term entrepreneur. (2) 2.3.4 Why are educational opportunities important for entrepreneurship? (2) 2.3.5 What is the difference between a successful entrepreneur and an unsuccessful entrepreneur? (2 x 2) (4) 2.4 Differentiate between renewable and non-renewable resources. (8) 2.5 How has the South African government responded to COVID-19’s social and economic impact? (8) [40] P.T.O.

Downloaded from hlayiso.com ECONOMICS 9 (PAPER 1) GRADE 11 QUESTION 3: MACROECONOMICS 40 MARKS – 30 MINUTES 3.1 Answer the following questions. 3.1.1 Name TWO different economic systems. (2 x 1) (2) 3.1.2 Why is it impossible for South Africa to become a rich country? (1 x 2) (2) 3.2 Study the cartoon below and answer the questions that follow. FREE FREE STUFF STUFF BIG GOVT. APPROVED The Progressive Agenda 3.2.1 Identify the economic system to which “FREE STUFF” above refers. (1) 3.2.2 What is the free-market system free from, in its purest form? (1) 3.2.3 Briefly describe the term economic system. (2) 3.2.4 Explain the concept of an invisible hand in the economy. (2) 3.2.5 Why is the South African economy regarded as a mixed economic system? (2 x 2) (4) P.T.O.

Downloaded from hlayiso.com ECONOMICS 10 (PAPER 1) GRADE 11 3.3 Study the graph below and answer the questions that follow. How did South African Industries perform in the first quarter of 2019? GOVERNMENT FINANCE PERSONAL SERVICE CONSTRUCTION TRADE TRANSPORT ELECTRICITY MANUFACTURING MINING AGRICULTURE 3.3.1 Identify the industry which declined the most in the graph above. (1) 3.3.2 Under which economic sector would construction be classified? (1) 3.3.3 Briefly describe the term infrastructure. (2) 3.3.4 How will an increase in investment spending influence the economy? (2) 3.3.5 Distinguish between real investment and financial investment. (4) 3.4 Briefly explain the economic importance of energy as part of South Africa’s infrastructure. (8) 3.5 Evaluate government’s involvement in increasing access to economic opportunities. (8) [40] P.T.O.

Downloaded from hlayiso.com ECONOMICS 11 (PAPER 1) GRADE 11 QUESTION 4: MACROECONOMICS 40 MARKS – 30 MINUTES 4.1 Answer the following questions. 4.1.1 Name any TWO examples of injections. (2) 4.1.2 Why are intermediate goods and services excluded when calculating the value of GDP? (2) 4.2 Study the following diagram and answer the questions that follow. Payment for purchases of goods and services Taxes Government’s purchases Households Government Businesses Incomes Social Taxes transfers Wages, dividends, interest, profits and rent 4.2.1 Identify ONE injection in the diagram above. (1) 4.2.2 Name the type of economy portrayed in the above diagram. (1) 4.2.3 Briefly describe the term circular flow. (2) 4.2.4 What is the main objective of social transfers? (2) 4.2.5 Why is the factor market important in the circular flow? (4) P.T.O.

Downloaded from hlayiso.com ECONOMICS 12 (PAPER 1) GRADE 11 4.3 Study the table below and answer the questions that follow. Final consumption expenditure by households (At constant 2010 prices) (R millions) 2012 2013 2014 Durable goods: 175 319 191 062 201 145 Furniture, household appliances, etc. 28 535 30 157 31 806 Personal transport equipment 104 908 115 950 121 713 Computers and related equipment 7 805 9 055 10 290 Recreational and entertainment goods 24 835 25 972 27 023 Other durable goods 9 236 9 928 10 313 Semi-durable goods: 149 519 157 441 162 412 Clothing and footwear 87 941 92 359 95 430 Household textiles, furnishings, glassware, etc. 24 265 25 865 26 978 Motorcar tyres, parts and accessories 15 744 16 287 16 321 Recreational and entertainment goods 11 031 11 710 11 953 Miscellaneous goods 10 583 11 220 11 730 [Source: SARB Quarterly Bulletin (June 2015)] 4.3.1 Identify ONE other classification of final consumption expenditure by households not mentioned in the table above. (1) 4.3.2 What is the trend of the value of ‘other durable goods’ since 2012? (1) 4.3.3 Describe durable goods. (2) 4.3.4 Explain what is meant by the term at constant prices in the table above. (2) 4.3.5 Why is the final consumption expenditure by households important in the economy? (4) 4.4 Explain the difference between final goods and services and intermediate goods and services, in detail. (8) 4.5 How can the final consumption expenditure by government improve the standard of living? (8) [40] TOTAL SECTION B: 80 P.T.O.

Downloaded from hlayiso.com ECONOMICS 13 (PAPER 1) GRADE 11 SECTION C Answer ONE of the two questions from this section in the ANSWER BOOK. MARK STRUCTURE OF ESSAY ALLOCATION Introduction: The introduction is a lower-order response. • A good starting point would be to define the main concept related to Max. 2 the question topic. • Do not include any part of the question in your introduction. • Do not repeat any part of the introduction in the body. • Avoid saying in the introduction what you are going to discuss in the body. Body: Max. 26 Main part: Discuss in detail/In-depth discussion/Examine/Critically discuss/Analyse/Compare/Evaluate/Distinguish/ Explain/Assess/Debate Additional part: Give own opinion/Critically discuss/Evaluate/Critically evaluate/Draw a graph and explain/Use the graph given and explain/ Max. 10 Calculate/Deduce/Compare/Explain/Distinguish/Interpret/Briefly debate/ How?/Suggest/Use the information and argue, debate, evaluate Conclusion: Any relevant higher-order conclusion that should include: • A brief summary of what has been discussed without repeating facts already mentioned Max. 2 • Any opinion or value judgement on the facts discussed • Additional support information to strengthen the discussion/analysis • A contradictory viewpoint with motivation, if required • Recommendations TOTAL 40 P.T.O.

Downloaded from hlayiso.com QUESTION 5: MACROECONOMICS 40 MARKS – 40 MINUTES • Discuss the economic importance of the following factors of production for the producers of goods and services: − Labour (8) − Capital (8) − Natural resources (10) (26 marks) • How have the land redistribution programmes (policies) contributed towards accommodating marginalised groups in the economy? (10 marks) [40] QUESTION 6: MACROECONOMICS • Discuss the characteristics, advantages and disadvantages of a country having a mixed economy. (26 marks) • Analyse the problems that South Africa is facing with too much government involvement in the economy. (10 marks) [40] TOTAL SECTION C: 40 TOTAL: 150 END