education.gov.za NSC Examination Economics Question Paper 2017 : Department of Basic

Organisation : Department of Basic Education
Exam : National Senior Certificate Examinations
Document Type : NSC Sample Question Paper
Subject : Economics
Category : Grade 12
Year : 2017
Website : https://www.education.gov.za/2017FebMarchNSCExamPapers.aspx
Download Sample Question Paper :
Memo 1 : https://www.southafricain.com/uploads/10889-P1Memo.pdf
Paper 1 : https://www.southafricain.com/uploads/10889-EconomicsP1.pdf
Memo 2 : https://www.southafricain.com/uploads/10889-P2Memo.pdf
Paper 2 : https://www.southafricain.com/uploads/10889-EconomicsP2.pdf

Education NSC Examination Economics Question Paper

MARKS: 150
TIME: 2 hours
** This question paper consists of 12 pages.

Related : Department of Basic Education NSC Examination Dramatic Arts Question Paper 2017 : www.southafricain.com/10885.html

Instructions And Information

1. Answer FOUR 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. Re ad the questions carefully.
6. Start EACH question on a NEW page.
7. Leave 2–3 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 pocket calculator.
11. Write neatly and legibly.

Sample Question

SECTION A

COMPULSORY
QUESTION 1 30 MARKS – 20 MINUTES
1.1 Various options are provided as possible answers to the following questions. Write down the question number (1.1.1–1.1.8), choose the answer and make a cross (X) over the letter (A–C) of your choice in the ANSWER BOOK.
1.1.1
The point where economic contraction is at its lowest is called a …
A trough.
B peak.
C trend.

1.1.2 The reduction or removal of tariffs that prevent the free flow of goods and services between countries is called …
A protectionism.
B trade embargo.
C trade liberalisation.

1.1.3 The new economic paradigm that relates to the smoothing of business cycles is rooted in …-side policies.
A demand-and-supply
B only demand
C only supply

1.1.4 A form of economic integration that removes all tariffs between member countries is called a …
A free-trade area.
B customs union.
C common market.

1.1.5 The Reserve Bank uses the … policy to influence aggregate money supply.
A fiscal
B monetary
C budgetary

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 (1.2.1–1.2.8) in the ANSWER BOOK, for example 1.2.9 J.
COLUMN A COLUMN B
1.2.1 Multiplier effect
1.2.2 Department of Trade and Industry A economic fluctuations affected by causes outside the market system
1.2.3 Exogenous factors B does not change until after the business cycle has changed
1.2.4 Lagging indicator C reflects the demographic and gender composition of a country
1.2.5 Wealth tax D sets out the broad approach to industrialisation of government
1.2.6 Employment equity E ratio between inputs and outputs
1.2.7 Productivity F small initial change in spending produces a proportionally larger increase in national income
1.2.8 National Industrial Policy Framework G programme to improve competition in the agricultural sector

1.3 Give 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.
1.3.1 A set of accounts that shows a systematic record of the trade and financial transactions between a country and the rest of the world
1.3.2 The curve that shows the relationship between tax rates and tax revenue
1.3.3 The market engaged in the buying and selling of foreign currencies
1.3.4 A spatial area that forms a passageway, allowing access from one area to another as part of regional development
1.3.5 It is used to measure the performance and trends of economic variables over time
1.3.6 The withdrawal of money from the circular flow (6 x 1) (6)

SECTION B

Answer any TWO of the three questions in 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 monetary policy instruments. (2 x 1) (2)
2.1.2 Identify ONE benefit of import substitution for domestic households. (1 x 2) (2)

2.2 Study the diagram below and answer the questions that follow.
2.2.1 Identify ONE injection in the diagram above. (1)
2.2.2 Name the type of economy portrayed by the above diagram. (1)
2.2.3 Briefly describe the term circular flow. (2)
2.2.4 What is the main objective of social transfers? (2)
2.2.5 Briefly explain the importance of the factor market in the circular flow. (2 x 2) (4)

2.4 Distinguish between the amplitude and trend line as features underpinning forecasting. (2 x 4) (8)
2.5 How can the establishment of more labour-intensive industries benefit South Africa? (8)

QUESTION 3: ECONOMIC PURSUITS 40 MARKS – 30 MINUTES
3.1 Answer the following questions.
3.1.1 Name any TWO aspects that can be used to differentiate countries in the North-South divide. (2 x 1) (2)
3.1.2 What is the relationship between economic growth and economic development? (1 x 2) (2)

3.2 Study the information below and answer the questions that follow.
3.2.1 Identify ONE growth and development plan for South Africa in the extract above. (1)
3.2.2 What is the main aim of the RDP? (1)
3.2.3 What message is depicted in the cartoon above, in an economic context? (2)
3.2.4 What role has the RDP played in improving the lives of people since 1994? (2)
3.2.5 In your opinion, how can the NDP bring about ‘a better life for all’? (4)

QUESTION 4 : MACROECONOMICS AND ECONOMIC PURSUITS
40 MARKS – 30 MINUTES
4.1 Answer the following questions.
4.1.1 Name any TWO forms of import substitution. (2 x 1) (2)
4.1.2 What impact will an increase in the VAT rate have on the standard of living of the poor? (1 x 2) (2)
4.2.1 Which institution provides the statistics above? (1)
4.2.2 Which item records transactions relating to donations and gifts to other countries? (1)
4.2.3 Briefly describe the capital transfer account as part of the BoP. (2)
4.2.4 Give ONE reason for the decline in gold exports. (2)
4.2.5 Calculate the trade balance for 2015. Show ALL calculations. (4)

SECTION C

Answer any ONE of the two questions in this section in the ANSWER BOOK.
Your answer will be assessed as follows:
QUESTION 5 : MACROECONOMICS 40 MARKS – 40 MINUTES
The state plays a significant role in a mixed economic system and is therefore one of the largest sectors in the economy.
Discuss the macroeconomic objectives of the state. (26)
How successful is the implementation of South Africa’s fiscal policy? (10)

QUESTION 6 : ECONOMIC PURSUITS 40 MARKS – 40 MINUTES
Economic and social indicators are used globally to compare and describe economic performances of countries.
Examine the following social indicators:
Demographics
Education
Nutrition and health
What can the South African government do to improve the delivery of social services to its citizens?