Economic Environment NCV Level 4 — Memo

February 2020 — NCV Level 4 — Economic Environment

NCV Level 4 2020 NCV Business

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Q1— Section header —

1.1.10

1.2.1False

1.2.2True

1.2.3True

1.2.4False

1.2.5False

1.2.6False

1.2.7True

1.2.8False

1.2.9True

1.2.10

1.3.1030

Q2— Section header —

2.1An i ncrease in the income of consumers Tastes of prospective buyers An i ncrease in the price of substitute products

2.260 = This is a shortage because the quantity supplied is less than the quantity demanded OR Percentage change in quantity supplied Percentage change in

Q3— Section header —

3.1Standard First National sed to pay for goods and services. Money as a standard of deferred payment: sed to settle debts Money as an accounting unit or measure of value:

3.3.1Monetary policy refers to changes made by a central bank to manage the money supply and interest rate and to achieve macro economic objectives such as inflation, consumption,

3.3.3This is done through repurchase agree ments between the central bank and the commercial banks Commercial banks sell financial instruments such as

3.4Less money available for consumers to buy goods and services. Consumption expenditure decreases. Production of goods and services decreases. Firms lay off some of their workers. Unemployment increases.

Q4— Section header —

4.1.1Unemployment: he number of people who are able to and are actively looking for work, but who are not working.

4.1.2Labour policy: utlines what is fair and what is not fair for employers and employees in the labour market.

4.1.3

4.2

4.4easures the likelihood of being able to live a long and healthy life. GDP er apita ndex measure of people s ability to afford a decent standard of living.

Q5— Section header —

5.1Customs u nion n agreement between countries Making suitable land available Ensuring the personal safety of workers and all other stakeholders Open account Factoring

5.5.2

5.6To uphold international agreements and law To control foreign currency To encourage the growth of local businesses Helps to speed up delivery The IDP enables the municipalities to identify the least serviced and most

Q6— Section header —

6.1.1R13, 71 = R13 Therefore the new exchange rate is $1 = R13,

6.1.2R13, 71 R13 + R0 R13 Therefore the

6.2Must main tain a good credit risk Must not exceed the credit limit Must communicate with the export factor and not an exporter Payments must be made on agreed dates

6.5Standardised procedures around a state the art communication system Arbitration services in case of conflicts with correspondents. The opportunity to rub shoulder with the worldwide factoring industry at

6.6Opportunity to increase sales Opportunity to supply bigger customers [40] TOTAL SECTION B: GRAND TOTAL:40

Topics Identified

Business EnvironmentsBusiness Functions

Mark Allocation

Sections30 + 10 + 40 + 40 + 40 + 40 = 200 marks

Paper information

TitleMemo

SubjectEconomic Environment

LevelNCV Level 4

Document typeNCV Business

Year2020

MonthFebruary

Pages7

Downloads4

Examination context

Decade2020s

Years ago6y

SeasonSummer (SH)

Start daySaturday

Exam periodFebruary 2020

Days since exam2,444

About Economic Environment examination preparation

This TVET examination resource can be used as part of a structured revision programme. Past papers are most useful when learners attempt questions independently, work within a realistic time limit, and review their answers afterwards.

How to use this resource for revision

A TVET past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason — was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

understanding question requirements

applying subject knowledge

working under time constraints

checking answers

identifying revision priorities

A practical revision approach

Start by completing the resource without looking at the memorandum. Review incorrect and incomplete answers afterwards and make a short revision list based on the areas that caused difficulty.

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