Economics Paper 1 (English)

November 2017 — Grade 12 / Matric — Economics

Past Paper 2017 Grade 12 English Economics Hub →

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🎯 20 marks 📄 12 pages 📝 70 items found 📚 2 topics 🔑 1 key info

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Q1— Section header —

1.1Various options are provided as possible answers to the following questions. Choose the answer and wr ite only the letter (A D\ next to the question number (1.1.1

1.1.8\ in the ANSWER BOOK, for example 1.1.9 D.

1.1.1

1.1.2

1.1.3

1.1.4

1.1.5

1.1.6The main purpose of South African Tourism (SAT\ is to promote South Afr ica as a tourist destination tourists. to domestic and international only to mestic

1.1.7

1.1.8

1.2Choose a description from COLUMN B that matches the item in CO LUMN A. Write only the letter (A I\ next to the question number (1.2.1

1.2.8\ in the ANSWER BOOK. COLUMN A COLUMN B

1.2.8Explicit cost Cartel Branding Missing markets Cost push infla tion Tourism industry Soil erosion

1.3Give ONE term for each of the following descriptions. Write only the term next to the question number (1.3.1

1.3.6\ in the ANSWER BOOK.

1.3.1An example of tacit collusion where a dominant fir m will set the price and the other will follow

1.3.2Costs paid by the consumer that are NOT included in the market price

1.3.3The period in which the perfect competitor can make economic profit

1.3.4Prices on certain goods that a re set or controlled by government for example petrol

1.3.5Tourists visiting museums, art galleries and areas that depict a certain lifestyle for example the Aparth id museum

1.3.6The release of harmful gases into the atmosph ere 6 x 1\ (6\ TOTAL SECTION A:

Q2— Section header —

2.1Answer the following questions.

2.1.1Give any TWO examples of positive externalities. (2 x 1\ (2\

2.1.2Why do people in rural areas someti mes pay higher prices for goods and services than those living in urban areas? (1 x 2\ (2\

2.2Study the graph below and answer the questions that follow. Price Revenue =AR Revenue

2.2.1Identify any factor that can influence the price of goods and services for the monopoly. (1\

2.2.2At what price must the monopolist sell to obtain maximum revenue (1\

2.2.3What is the nature of the product of a typical monopolist

2.2.4Which curves are required to determine how much profit the monopolist will make (2\

2.2.5Why will you discourage the monopolist from increasing the price of the product drastically? (2 x 2\ (4\ TR 100 Quantity

2.3Study the information below and answer the questions that follow. A COST BENEFIT SCENARIO Below are the ost enefit

2.3.1the information above who is more likely to use a CBA when making de cisions?

2.3.2Identify ONE project the data above that the overnment is considering for this community. (1\

2.3Give a reason why a CBA will NOT be of use to the mechanic in the cartoon. (2\

2.3According to the data above which project would be best for the community (2\

2.3Why do you think important to do a CBA when deciding about large projects? (2 x 2\ (4\

2.4Explain the nature of the product and market entry as characteristics of perfect competition. (2 x 4\ (8\

2.5How will a monopolistic competitor like KFC compete with other fast foo chicken outlets to increase its market share? (8\ [40]40

Q3— Section header —

3.1Answer th e following questions.

3.1.1Give any TWO xamples of transport in frastructure needed for tourism. x 1\ (2\

3.1.2How can reduction in income tax rates contribute to demand pull inflation? (1 x 2\ (2\

3.2.1Identify the index used to measure South Africa s inflation rate.

3.2.2Give the main reason for the increase in the CPI nflation above.

3.2Briefly describe the term ore inflation

3.2.4How can t he South African Reserve Bank ensure that the CPI fluctuates within the 3% 6% band? (2\

3.2Calculate the percentage change in the inflation rate between June

3.3.1Identify the African name for the plant Aloe Ferox in the extract above (1\

3.3.2According to the information above hat is the reason for the high international demand for Aloe Ferox products

3.3.3Briefly describe the term ndigenous nowledge ystem (2\

3.3.4How can commercial use of Aloe Ferox contribute to government revenue? (2\

3.3.5How can Aloe Ferox plant be used to reduce unemployment rural and urban areas (2 x 2\ (4\

3.4Explain the government use of subsidies and permits as measures to ensure environmental sustainability. (2 x 4\

3.540

Q4— Section header —

4.1Answer the following questions.

4.1.1State any TWO ways in which households can benefit from tourism (2 x 1 (2\

4.1.2How will a national minimum wage influence the supply of labour? (1 x 2\ (2\

4.2Study the illustrations below and answer the questions that follow. A FEW COMPANIES DOMINATE THE CEMENT INDUSTRY IN SOUTH AFRICA [Adapted from www.google.co.za

4.2Identify the product produced by the businesses above (1\

4.2.2ich market structure is depicted above? (1\

4.2.3Why will a new business find it difficult to e nter into this type of market (2\

4.2.4What does interdependency of businesses in thi s market structure imply? (2\

4.2.5Explain, without the use of a graph, why business in this industry will be reluctant to decrease the price of their product (2 x 2\ (4\ '''

4.3Study the cartoon below and answer the questions that fol low. [Adapted from www.google.co.za Identify any TWO holiday attractions

4.540

Q5— Section header —

Q6— Section header —

Topics Identified

MicroeconomicsMacroeconomics

Mark Allocation

Sections40 + 40 + 40 + 40 + 40 = 200 marks

Key Information

Websitewww.google.co.za

Paper information

SubjectEconomics

Year2017

SessionNovember

TypePast Paper

PaperPaper 2

LanguageEnglish

Pages12

Downloads6

Examination context

Decade2010s

Years ago9y

SeasonSpring (SH)

Start daySunday

Exam periodNovember 2017

Days since exam3,274

About Economics examination preparation

Grade 12 Economics covers microeconomics and macroeconomics. The memorandum rewards correct labelling of graphs and curves.

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economic reasoning

interpreting economic information

applying concepts

using subject terminology

structuring extended responses

A practical revision approach

Economics rewards graphical literacy — practice drawing and labelling graphs accurately. The memorandum allocates marks for correct axis labelling, curve identification, and shift analysis.

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Corresponding marking memorandum

Marking memorandum available

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Economics Memo 2 (English) →

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