Economics N5 — Document
November 2020 — N5 — Economics
N5
2020
Nated Business
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Q1— Section header —
1.10\in the ANSWER BOOK.
1.1n example of durable goods etrol
1.2Expenditure of useholds on goods and services: National expenditure
1.3What is the amount of n ominal income in 2018 after an increase of 7, 5% on an income of R80 000 in 201 7?
1.4Goods which still have to undergo further processing are called capital goods production goods
1.5The f iscal policy executed by the National Tre
1.6People earning a fixed income, who are vulnerable to rising prices borrower s. debtor s.
1.8The currency used in Washington, USA is ollar British pound
1.9A positive cons benefits creditors benefits debtors
1.10The RDP in South Africa was concerned with land reform community
Q2— Section header —
2.5\n the ANSWER BOOK.
2.1Improved capital goods decrease labour productivity.
2.2Economi c development focuses on people' s standard of living.
2.3Security is an advantage of piece wages
2.4Tax on sugar is a form of indirect tax.
2.510
Q3— Section header —
3.10\ the ANSWER BOOK.
3.1The gap between the level of output and the potential level of output
3.2If the number of unemployed workers exceeds the number of job vacancies, th
3.3A payment that a person receives and then pays over to another person
3.4This type of money refers to all short term and medium term fixed notification and savings dep osits held by the banking sector.
3.5On this market, long term borrowing and lending takes place.
3.6method whereby trade unions try to maintain a nd improve their member terms and conditions of employment.
3.7The added cost incurre d in producing an additional unit of output
3.8n the Balance of Payments records account reflects the change in ownership of national
3.9The period between the time that a person wants to find a job and the time of actu ally finding a job is called
3.1020
Q4— Section header —
4.1.1What is the threat l ying ahead for the workers on these fruit farm
4.1.2istinguish between the three different kinds of wage systems by giving the formula and a description of each wage system. (14\
4.1.3Explain the term igration as one of South Africa' s labour problems. (5\
4.1.4Not all the workers receive the same wage. Elaborate on FOUR factors that could contribute to inequality of wages. (4 2\ (8\
4.2Discuss the FOUR functions of money. (4 2\ (8\ 22020095
4.3Read the report elow and answer the questions On 2 May 2018 the price of petrol was increased by 49 c/
4.3.1Stipulate the exchange rate in South African Rands (ZAR\ used in for the following currencies: (a\ (b\ Euro Pound s terling (2
4.3.2Calculate the percentage of increase in the diesel price. (5\
4.3.3Differentiate between a fixed exchange rate and a floating exchange rate (2 2\
Q5— Section header —
5.1Read the report below and answer the questions SARS HOPING FOR HIGHER GROWTH TO BOOST COLLECTIONS Source:
5.1.1Write the name of the institution in full. (2\
5.1.2opy and complete the following TABLE in the ANSWER BOOK, by filling in the TWO types of taxation , their definition and THREE forms or examples of each
5.2Review the figures in the following table: ITEM RAND (In billions\ GDP at market prices 307 776 Net factor payments to foreign countries 9 093 Provision for depreciation
5.3Discuss FOUR methods to increase national income. (15\
5.4Distinguish between the following aspects of the determination of the exchange rate:
5.4.1Revaluation
5.4.2Devaluat ion
5.4.3Appreciation
5.4.4
5.5Who is the current g overnor of the SARB? (2\
5.6Distinguish between the transactional motive and precautionary motive for holding money and give an example of each
5.7Where is the flow of currency across borders for international transactions recorded? (2\ [50] 2202009550
Q6— Section header —
6.1Study the image below and answer the questions Source www.bbrief.co.za 26 February 2018
6.1.1Is the above person unemployed? Motivate your answer. (2\
6.1.2Consider the current econ omic situation of South Africa. Give TWO reasons for the empty pocke of the person above. (2\
6.2
6.3
6.4Describe how equilibrium is formed in the labour market (2\ 22020095 10
6.5Study the graph below and answer the questions
6.5.1Define the term inflation (3\
6.5.2Calculate the percentage difference be tween March 2018 and April 2018 nd state whether there was an increase or decrease. (9\
6.5.3State TWO causes of this change in the inflation rate. (2\
6.6Study the scenario below and answer the questions The purchase department of bby and Lace buys material from
6.6.1Calcula te the added value by avoiding doubl e counting in the calculation of the National Income. (4\
6.6.2Write down the formula for calculating the National income. (4\
6.6.3
6.7What is the rationale of the South African trade policy? (3\ [50] 2202009550
Q7— Section header —
7.1Read the report below and answer the ques tion. SA RESERVE BANK CUTS INTEREST RATES
7.2Study the graph below and answer the quest ions DETERMINATION OF INTEREST RATE
7.2.1What does curve S1 indicate?
7.2.2Explain the effect of an increase in the price of the US dollar on South African imports 22020095 12
7.2.3
7.3Provide FIVE functions of trade unions. (5\
7.4Provide an overview of the general aims of the fiscal policy in South Africa. (10\
7.5Calculate the following mi ssing values and write the answer next to the question number (7.5.1
7.5.6\ the ANSWER BOOK: YEAR PHYSICAL QUANTITY OF FINAL GOODS AND SERVICES MARKET PRICES (R\ CURRENT VALUE
7.5.22017 250 12
7.5.420 18 300 18
7.5.6(6 2\ (12\
7.6State NINE ways in which poverty can be reduced (9\ [50] TOTAL SECTION B:50
Topics Identified
3
MicroeconomicsMacroeconomicsInternational Trade
Mark Allocation
Total150 marks
Sections20 + 10 + 20 + 50 + 50 + 50 + 50 = 250 marks
Key Information
Websitewww.bbrief.co.za
Paper information
TitleDocument
SubjectEconomics
LevelN5
Document typeQuestion paper
Year2020
MonthNovember
Pages12
Downloads3
Examination context
Decade2020s
Years ago6y
SeasonSpring (SH)
Start daySunday
Exam periodNovember 2020
Days since exam2,171
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