Economics Grade 11 P1 North West June 2024 QP (Eng)

PROVINCIAL ASSESSMENT GRADE 11 ECONOMICS P1 JUNE 2024 MARKS: 150 TIME: 2 hours This question paper consists of 12 pages. Copyright reserved Please turn over

Economics/P1 2 NW/June 2024 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 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 correctly 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 between subsections 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. You may use a non-programmable calculator. 11. Write neatly and legibly. Copyright reserved Please turn over

Economics/P1 3 NW/June 2024 Grade 11 SECTION A (COMPULSORY) QUESTION 1 30 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 numbers (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D. 1.1.1 Is when the stock of capital grows at the same rate as the labour force. A Gross fixed capital formation B Gross profit C Capital deepening D Capital widening 1.1.2 The price paid for the use of natural resources is called … A profit. B rent. C exchange value. D money. 1.1.3 The value of the final output produced by the citizens of a country, irrespective of where they are located is the … A gross domestic product. B gross national income. C gross domestic income. D gross national product. 1.1.4 Double counting is a problem that occurs when the … method of calculating GDP is used. A expenditure B production C income D consumption 1.1.5 Market forces of demand and supply determine what, how and for who will be produced. A Market economy B Centrally planned economy C Mixed economy D Market 1.1.6 The following of rules and procedures by government officials which cause delays in providing services is called … A accountability. B hierarchy. C bureaucracy. D regulations. Copyright reserved Please turn over

Economics/P1 4 NW/June 2024 Grade 11 1.1.7 SANRAL is responsible for maintaining the ... in South Africa. A railway network B harbours C airports D national roads 1.1.8 Economic growth is measured and expressed in terms of real … A gross national product. B gross domestic expenditure. C gross domestic product. D gross national expenditure. (8 x 2) (16) 1.2 Choose a description from COLUMN B that matches a term in COLUMN A. Write only the letter (A–I) next to the question number (1.2.1 to1.2.8) in the ANSWER BOOK. COLUMN A COLUMN B 1.2.1 Nominal wage A It involves the flow of goods and services from producers to the 1.2.2 Community forum consumers 1.2.3 Money flow B The amount of money in rands (currency) that a worker receives for his 1.2.4 Residual item labour 1.2.5 Economic system C The mechanisms followed in allocation of resources, production and distribution 1.2.6 Private Public of goods and services Partnership D government sector work together for 1.2.7 Agricultural sector profit and community development 1.2.8 Tertiary sector E The flow of income and expenditure between participants in the economy F produces a variety of crops and animal products which provide food for the nation G Public meeting whereby government officials and community members listen to people’s concerns and ideas regarding local development H Used to capture errors and omissions in the national accounts using the expenditure method (8 x 1) (8) Copyright reserved Please turn over

Economics/P1 5 NW/June 2024 Grade 11 1.3 Give ONE term for each of the following descriptions. Write only the term next to the question numbers (1.3.1 to 1.3.6) in the ANSWER BOOK. Abbreviations, acronyms and examples will NOT be accepted. 1.3.1 Goods that are used as inputs by other enterprises 1.3.2 Gifts of nature that occur naturally 1.3.3 A government initiative to create short term employment to empower the marginalised group by allowing them to acquire some skill and earning income from the jobs 1.3.4 It is based on private ownership and profit motive and it is also called Capitalism 1.3.5 Consist of plantation of renewable timber such as pine 1.3.6 Goods and services produced by local sectors and then sold to Foreign countries (6 x 1) (6) TOTAL SECTION A: 30 Copyright reserved Please turn over

Economics/P1 6 NW/June 2024 Grade 11 SECTION B Answer any TWO of the three questions in 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 examples of semi-durable goods. (2 x 1) (2) 2.1.2 Why is it important for markets to be efficient in an economy? (1 x 2) (2) 2.2 Study the extract below and answer the questions that follow. An economy is a system of inter-related production and consumption activities which determine the allocation of resources within the community. There are three main types of economies: free-market, command and mixed economy. Individuals and businesses make their own economic decisions. The government makes all of the country’s decisions. [Adapted from www.sparknotes.com, Accessed on 12 February 2023] 2.2.1 Identify a level of government from the information above. (1) 2.2.2 Name the economic system that South Africa is currently using. (1) 2.2.3 Briefly describe the term centrally planned economy. (2) 2.2.4 Explain ownership as a characteristic of a centrally planned economy. (2) 2.2.5 How does freedom of choice benefit the households as consumers of goods and services? (4) Copyright reserved Please turn over

Economics/P1 7 NW/June 2024 Grade 11 2.3 Study the table below and answer the questions that follow. GDP AND GNI FOR SEASIDE COUNTRY COMPONENT RAND BILLIONS Consumption spending by households 1 473 Government expenditure 505 Investment spending by households 468 Exports of goods and services 657 Imports of goods and services (678) GDP 2 425 Factor income earned abroad by South Africans 34 Factor income earned in South Africa by (87) Foreigners GNI A [Source: South African Reserve Bank Quarterly Bulletin] 2.3.1 Identify ONE leakage from the table above. (1) 2.3.2 List any element of injections into the circular flow? (1) 2.3.3 Briefly describe the concept gross national income. (2) 2.3.4 What effect will factor income earned in South Africa by foreigners have on the circular flow? (2) 2.3.5 Calculate the GNI (A) for Seaside Country. Show ALL calculations. (4) 2.4 Discuss the advantages of a centrally planned economy. (4 x 2) (8) 2.5. How will an increase in government expenditure affect the economy? (4 x 2) (8) [40] Copyright reserved Please turn over

Economics/P1 8 NW/June 2024 Grade 11 QUESTION 3: MACROECONOMICS 40 MARKS – 30 MINUTES 3.1 Answer the following questions. 3.1.1 Name any TWO disadvantages of a mixed economy. (2 x 1) (2) 3.1.2 What is the relationship between final consumption by Households and economic development? (1 x 2) (2) 3.2 Study the graph below and answer the following questions. Supply and demand of natural resources Price per s Hector P e Economic Rent D 0 10 Quantity of land in hectors 3.2.1 Identify the form of remuneration for natural resources on the graph above. (1) 3.2.2 Name the characteristic of natural resources relating to its quantity. (1) 3.2.3 Briefly describe the term factors of production. (2) 3.2.4 What is the relationship between the remuneration of natural resources and their proximity to markets? (2) 3.2.5 How do natural resources contribute to industrialisation of the South African economy? (4) Copyright reserved Please turn over

Economics/P1 9 NW/June 2024 Grade 11 3.3 Study the graph below and answer the questions that follow REAL GROSS FIXED CAPITAL FORMATION The decrease in the third quarter was largely driven by reduced investment of computer software, computer equipment and construction works. However, the private sector’s share of total nominal gross fixed capital formation increased slightly from 71,9% in the second quarter of 2023 to 72,3% in the third quarter. [Source: StatsSA] 3.3.1 Identify the quarter and year with the highest capital formation. (1) 3.3.2 Name the remuneration for capital. (1) 3.3.3 Briefly describe the term capital formation. (2) 3.3.4 Outline the importance of savings for the creation of capital goods. (2) 3.3.5 Why is capital formation important to the South African economy? (4) 3.4. Discuss the production and income methods on how they are used to determine gross domestic product. (2 x 4) (8) 3.5. Evaluate the South African’s government efficiency in delivering socio-economic services. (4 x 2) (8) [40] Copyright reserved Please turn over

Economics/P1 10 NW/June 2024 Grade 11 QUESTION 4: MACROECONOMICS 40 MARKS – 30 MINUTES 4.1 Answer the following questions. 4.1.1 Give any TWO elements of leakages in a circular flow. (2 x 1) (2) 4.1.2 How does the unfair market practices by state owned Monopolies negatively affect South African consumers? (1 x 2) (2) 4.2 Study the graph below and answer the questions that follow. POOR SERVICE DELIVERY, A THREAT TO THE QUALITY OF HUMAN LIFE [Source: www.google.com/southAfricanEconomy/] 4.2.1 Identify, from the given cartoon, the reason for lack of social and economic services? (1) 4.2.2 Which level of government is responsible for the control and the management of municipalities? (1) 4.2.3 Briefly describe the term government. (2) 4.2.4 Explain the impact of poor service delivery on economic growth. (2) 4.2.5 How does corruption affect service delivery? (2 x 2) (4) Copyright reserved Please turn over

Economics/P1 11 NW/June 2024 Grade 11 4.3 Study the information below and answer the questions that follow. ROLE PLAYERS IN THE SOUTH AFRICAN MANUFACTURING INDUSTRY MANUFACTURING INDUSTRY Others 20% Food and beverages 26% Wood and printing 11% Petroleum and chemical basic iron and products steel 24% 19% [Source:www.statssa.gov.za/] 4.3.1 Identify, from the information above, products that contributed the most in South Africa’s manufacturing industry. (1) 4.3.2 Name the economic sector in which manufacturing is categorised. (1) 4.3.3 Briefly describe the term economic structure. (2) 4.3.4 How will a decrease in manufacturing affect job creation? (2) 4.3.5 Why is the Primary sector important in global market? (2 x 2) (4) 4.4 Discuss the disadvantages of South Africa’s mixed economy. (2 x 4) (8) 4.5 Evaluate the contribution of South African businesses in the economy. (4 x 2) (8) [40] TOTAL SECTION B: 80 Copyright reserved Please turn over

Economics/P1 12 NW/June 2024 Grade 11 SECTION C Answer any ONE of the two questions in this section in the ANSWER BOOK. Your answer will be assessed as follows: MARK STRUCTURE OF ESSAY ALLOCATION Introduction Max. 2 The introduction is a lower-order response.  A good starting point would be to the main concept related to 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 mentioning in the introduction what you are going to discuss in the body. Body: Main part: Discuss in detail/ In-depth discussion/Examine/Critically Max. 26 discuss/Analyse/Compare/Evaluate/Distinguish/Differentiate/Explain/ Draw a graph and explain/Use the graph given and explain/Complete the given graph/Assess/Debate A maximum of 8 marks may be allocated for headings/examples. Additional part: Critically discuss/ Evaluate/ Critically evaluate/ Max. 10 Debate/Deduce/Compare/Distinguish/Interpret/How?/Suggest A maximum of 2 marks may be allocated for mere listing of facts. Conclusion Any Higher or conclusion include: Max. 2  A brief summary of what has been discussed without repeating facts already mentioned in the body  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 QUESTION 5: MACROECONOMICS 40 MARKS – 40 MINUTES  Discuss in detail entrepreneurship as a factor of production. (26 marks)  How can the community participate in the local economic planning of South Africa? (10 marks) [40] QUESTION 6: MACROECONOMICS 40 MARKS – 40 MINUTES  Discuss in detail South Africa’s infrastructure and its economic importance. (26 marks)  Evaluate the success of internet use as a form of communication in South Africa. (10 marks) [40] TOTAL SECTION C: 40 GRAND TOTAL: 150 Copyright reserved