Economics N5 — Memo
June 2018 — N5 — Economics
N5
2018
Nated Business
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Q1— Section header —
1.1.10
1.2.10False True True True True False True True False
1.3.550
Q2— Section header —
2.1.5
2.2.1Trade union is an organised group of workers in a particular enterprise, industry, trade or profession seeking t o establish a relationship with management via the process of collective bargaining. (2\
2.2.2
2.3.1Inflation is a process and simultaneous decline in the buying power of money.
2.3.4,43% 6,34% 0,91% The final answer must be a minus ( (3\
2.3.5(a\ (b\ This also mean the savings disappear compl etely. Debtors are also advantaged over creditors because they pay their debts with money that has depreciated. The buying power of money has decreased to such extent
2.4.1
2.4.2
2.4.3Export subsidy is a government policy to encourage export of goods to new industries and especially those that show export potential through direc t payments, low cost loans and tax relief for exporters.
2.6Reconstruction and Development Programme. (2\
2.6They are forbidden to affiliate with any political par ty. It must be registered with industrial registrar in order to be recognised. It is prohibited from providing financial assistance to anyone to instigate a
Q3— Section header —
3.1.5
3.2.1Monetary policy (2\
3.2.2
3.2.3Foreign transactions 170 = 30 (3\
3.3.3Equilibrium occ urs where both employers and employees agree on the wage. (2\
3.4.1Exchange rate refers to a rate in which one country's currency is expressed in terms of another country's currency (2\
3.4.2Depreciate (2\
3.4.3There will be a neg ative effect in the balance of payment. Services from foreign countries Payments of interest on foreign capital Payments of instalments o n repayments of overseas loans Transfer of capital to foreign countries
3.5Households They sell factors of production i.e. labour to firms to produce goods and services and in return they are getting the remuneration of production factors as payments in a form of salaries and wages.
3.650
Q4— Section header —
4.1.5
4.2Transaction motive e.g. money for daily transport Precautionary motive paying for funeral cover Speculative motive
4.3.3
4.3.4It is an indication of economic growth in a country It enables economic welfare comparisons to be made It determines the relative importance of the different sectors in the economy (3\
4.4.1Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy (3\
4.4.2Income policy Investment policy (6\
4.5The size and quality of labour force The quantity and quality of capital Technology (4\
4.5Economic cycle is a useful framework that shows the flow of goods, services, income and expenditure in the economy. (3\
4.7The state must ensure that the disadvantaged are at least able to satisfy their minimum needs. Large amount of money are spent on the physically disabled and other disadvantaged groups each. In South Af
Q5— Section header —
5.1.1Poverty (2\
5.1.2Training progra Free health care for the poor Welfare assistance Unemployment Strikes Refusal by employees to continue working or obstruction of the normal progress of work. It leads to public losses and in a service industry
5.3.1Goods from one country are sold at lower prices than in the country of origin. Protection prevents foreign industries from dumping their surpluses and out seaso n goods at low prices as it may be harmful to domestic industries.
5.3.2
5.4.1(2\
5.4.2
5.4.3The amount of goods that were previously purchased by consumers will be less than what they are purchasing now. There will be a decrease in the basket of goods. (3\
5.4.5lse (2\
5.5It must not be submissive to continuous changes It must be understood by both employer and employee Employees must be remunerated for good and efficient service System must be flexible to accommodate industry needs
5.6Time wage Wage employee receives according to time he has worked or spent executing that work. (2\
5.7Availability of production factors Technological development [50] TOTAL SECTION B: GRAND TOTAL:50
Topics Identified
3
MicroeconomicsMacroeconomicsInternational Trade
Mark Allocation
Sections50 + 50 + 50 + 50 + 50 = 250 marks
Paper information
TitleMemo
SubjectEconomics
LevelN5
Document typeNated Business
Year2018
MonthJune
Pages8
Downloads3
Examination context
Decade2010s
Years ago8y
SeasonWinter (SH)
Start dayFriday
Exam periodJune 2018
Days since exam3,052
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