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 PROVINCIAL EXAMINATION

JUNE 2023

GRADE 11

ECONOMICS

PAPER 1

TIME: 2 hours

MARKS: 150

12 pages

P.T.O.
 ECONOMICS 2
(Paper 1) GRADE 11

INSTRUCTIONS AND INFORMATION

1. Answer THREE questions as follows in the ANSWER BOOK:

SECTION A: COMPULSORY
SECTION B: Answer 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 1 – 2 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.

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 ECONOMICS 3
(Paper 1) 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 correct answer and write down the letter (A – D) next to the question
number (1.1.1 to 1.1.8) in the ANSWER BOOK, e.g. 1.1.9 D.

1.1.1 Which of the following is an exhaustible renewable resource?

A Petroleum
B Tidal energy
C Coal
D Fresh water

1.1.2 A firm cannot sell labour or transfer ownership of labour to someone

else because …

A labour differs from person to person.

B ownership of labour does not belong to the firm.
C occupational and geographic mobility are limited.
D the supply of labour changes slowly.

1.1.3 … are those goods and services that are bought by the ultimate user to
satisfy a need or want.

A Final goods and services

B Intermediate goods and services
C Primary goods and services
D Secondary goods and services

1.1.4 The goods market describes a market in which …

A consumer goods and services are sold by households.

B consumer goods and services are exchanged for money.
C buyers and sellers of resources meet to trade.
D firms buy goods and services from households.

1.1.5 ... is the largest item of the state expenditure in South Africa.

A Education
B Welfare services
C Healthcare
D Human settlements

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 ECONOMICS 4
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1.1.6 In a free market system, the amount of goods and services that any one
household gets depends upon its …

A wealth.
B income.
C income and wealth.
D assets and investments.

1.1.7 The South African energy supply is dominated by …

A crude oil.
B gas.
C nuclear energy.
D coal.

1.1.8 During alert level 5 of the COVID-19 pandemic in South Africa, the
following transport system was directly affected by theft:

A The road networks

B The rail networks
C Harbours
D Airways (8 x 2) 16

1.2 Choose a description from COLUMN B that matches the item in COLUMN A.
Write only the letter (A – I) next to the question number (1.2.1 to 1.2.8) in the
ANSWER BOOK, for example 1.2.9 J.

COLUMN A COLUMN B
1.2.1 Economic goods A takes place when there is an increase in the
country’s capital stock
1.2.2 Marginal productivity
B the resources that are scarce and that people
1.2.3 Parastatal are willing to pay for

1.2.4 Gross fixed capital C capital must be higher than the cost incurred
formation to make capital goods available

1.2.5 Karl Marx D industries that process natural resources into

a form that is suitable for human use
1.2.6 Economic system
E state-owned business, like Transnet
1.2.7 Genetic operations
F explained the theory of capitalism
1.2.8 Secondary sector
G collection of raw materials that can return
what has been taken from nature, such as
forestry

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 ECONOMICS 5
(Paper 1) GRADE 11

H decisions the government makes on tax

I a set of methods used for solving the

questions of what to produce, for whom and
with what
(8 x 1) (8)

1.3 Give ONE term for each of the following descriptions. Write only the term next to
the question number (1.3.1 to 1.3.6) in the ANSWER BOOK. Abbreviations,
acronyms and examples will NOT be accepted.

1.3.1 The minimum amount of money needed to satisfy the basic needs for
survival

1.3.2 Measures goods and services without consideration of inflation

1.3.3 The social and political system in which landholders provide land to
tenants in exchange for their loyalty and service

1.3.4 The transfer of ownership of a business from the private sector to the
state

1.3.5 This sector consists of industries based on the natural resources of a

country

1.3.6 The regulator responsible for the telecommunication industry in South

Africa (6 x 1) (6)

TOTAL SECTION A: 30

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 ECONOMICS 6
(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 main government policies for socio-economic services.
(2 x 1) (2)

2.1.2 Why is a child support grant excluded from the consumption expenditure
by the government? (1 x 2) (2)

2.2 Study the pictures below and answer the questions that follow.

CAPITAL GOODS IN INDUSTRIES

Chemical industry Automotive industry Electronics industry

Steel industry Machinery Textile industry

[Source: https://totempool.com]

2.2.1 Identify any ONE example of a fixed capital good. (1)

2.2.2 Name the reward an owner of capital receives for making capital available. (1)

2.2.3 Briefly describe the term capital widening. (2)

2.2.4 Explain the importance of capital goods for industries. (2)

2.2.5 How does the risk of investment influence the interest rate on capital?
(2 x 2) (4)

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 ECONOMICS 7
(Paper 1) GRADE 11

2.3 Study the table below and answer the questions that follow

INFORMATION FROM THE FIRST QUARTER OF 2022

Final consumption expenditure by households 3 057 771

Final consumption expenditure by general government 907 315

Gross fixed capital formation A

Total 4 619 806

[Source: https://statssa.gov.za]

2.3.1 Which method of gross domestic product is displayed in the table above? (1)

2.3.2 List any month in the first quarter of 2022. (1)

2.3.3 Briefly describe the term gross national product. (2)

2.3.4 How does government cause a leakage in the circular flow? (2)

2.3.5 Calculate the value of “A” above. Show ALL calculations. (2 x 2) (4)

2.4 Discuss the population growth rate and the labour force participation rate as
factors that determine the quantity of labour available in a country. (4 x (8)
2)

2.5 Analyse reasons why GDP should be calculated according to international

methods. (8)
[40]

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 ECONOMICS 8
(Paper 1) GRADE 11

QUESTION 3: MACROECONOMICS 40 MARKS – 30 MINUTES

3.1 Answer the following questions.

3.1.1 Name any TWO characteristics of a market economy. (2 x 1) (2)

3.1.2 Why is the mining industry in South Africa important? (1 x 2) (2)

3.2 Study the pie chart below and answer the questions that follow.

VIEWERSHIP OF TELEVISIE CHANNELS IN SOUTH AFRICA

[Source: https://www.researchgate.net]

3.2.1 Identify the channel with the least viewership in the chart above. (1)

3.2.2 Name any state-owned TV channel in South Africa. (1)

3.2.3 Briefly describe the term government. (2)

3.2.4 Explain the reason why advertisers might be happier with the existence
of both DSTV and SABC in South Africa. (2)

3.2.5 How does a centrally planned economy benefit poor consumers in the
market for goods and services? (2 x 2) (4)

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 ECONOMICS 9
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3.3 Study the extract below and answer the questions that follow

Extract: Quarterly Bulletin – No 305 – September 2022

The real output of the primary sector contracted by a further 5,1% in the second
quarter of 2022, along with lower production in both the agricultural and mining
sectors. The decrease in output in the agricultural sector emanated mainly from
the lower production of animal products on the back of the outbreak of foot and
mouth disease, and the sharp increase in input costs. The real output of the
mining sector contracted further by 3,5%, marking a fourth successive
contraction as production decreased across a number of subsectors.

Real economic activity in the secondary sector contracted by 4,8% in the second
quarter of 2022. Following two-quarters of expansion, the real gross value added
(GVA) by the manufacturing sector contracted sharply by 5,9% in the second
quarter as production declined in 8 of the 10 subsectors, most notably in that
producing petroleum, chemical, rubber and plastic products.
[Source: https://www.resbank.co.za/]

3.3.1 Identify any ONE reason for a drop in the primary sector in the second
quarter of 2022. (1)

3.3.2 Which economic sector is not mentioned in the extract above? (1)

3.3.3 Briefly describe the term economic exclusion. (2)

3.3.4 Explain how the information in the extract above is useful to the South
African Reserve Bank. (2)

3.3.5 How does the outbreak of diseases increase production costs in the
economy? (2 x 2) (4)

3.4 Discuss the shortage of consumer goods and services and the lack of consumer
choice as disadvantages of a centrally planned economy. (4 x (8)
2)

3.5 How does the production of non-durable goods impact the economy positively? (8)
[40]

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 ECONOMICS 10
(Paper 1) GRADE 11

QUESTION 4: MACROECONOMICS 40 MARKS – 30 MINUTES

4.1 Answer the following questions.

4.1.1 Name any TWO flows within the four-sector model of the economy.
(2 x 1) (2)

4.1.2 How does reduced tariffs increase exports in the secondary sector?
(1 x 2) (2)

4.2 Study the diagram below and answer the questions that follow.

[Source: google images]

4.2.1 Give the economic concept illustrated in the diagram above. (1)

4.2.2 Name any ONE participant missing in the diagram above. (1)

4.2.3 Briefly describe the term autonomous expenditure. (2)

4.2.4 Explain the role of the factor market in the circular flow. (2)

4.2.5 How do injections impact the South African economy positively? (2 x 2) (4)

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 ECONOMICS 11
(Paper 1) GRADE 11

4.3 Study the cartoon below and answer the questions that follow.

[https://www.sundayguardianlive.com/news/south-africa-bridge-brics]

4.3.1 Identify the economic system in the cartoon above. (1)

4.3.2 What problem is illustrated in the cartoon above? (1)

4.3.3 Briefly describe the term economic system. (2)

4.3.4 Explain freedom of action as an advantage of a free market economy. (2)

4.3.5 How do NGOs impact government’s failure to deliver social services in

South Africa? (2 x 2) (4)

4.4 Briefly discuss gross national income (GNI) as a main aggregate. (4 x 2)(8)

4.5 Evaluate the successes and failures of a mixed economic system in South Africa. (8)
[40]

TOTAL SECTION B: 80

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 ECONOMICS 12
(Paper 1) GRADE 11

SECTION C

Answer ONE of the two questions from this section in the ANSWER BOOK.
Your answer will be assessed as follows:

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
the question topic.
Max. 2
 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
discuss/Analyse/Compare/Evaluate/Distinguish/Differentiate/Explain/ Max. 26
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-order conclusion 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

QUESTION 5: MACROECONOMICS 40 MARKS – 40 MINUTES

 Discuss, in detail, the characteristics of entrepreneurship. (26 marks)

 Analyse the impact of loadshedding on entrepreneurship. (10 marks) [40]

QUESTION 6: MACROECONOMICS 40 MARKS – 40 MINUTES

 Discuss, in detail, the economic importance of infrastructure in South Africa.

(26 marks)
 How can economic services influence a country’s income and wealth? (10 marks) [40]

TOTAL SECTION C: 40

TOTAL: 150

END