South Africa Economic and Social Indicators. Economic and social indicators can be used to measure socioeconomic development of the society by having indicators such as GDP, GVA (gross value added), unemployment level, life expectancy, education level, crime and safety, and level of participation in civil society.
SOUTH AFRICA’S ECONOMIC AND SOCIAL INDICATORS QUESTIONS AND ANSWERS
Activity 1
Choose the correct word between brackets:
- The key rate of interest in SA is the (repo/exchange) rate. (2)
- The growth performance of a country is measured in terms of the (per capita real GDP/increase in the real GDP). (2)
- The economically active population is the labour force between 15 and (55/65) years of age. (2)
- The index used to determine the prices of inputs is called the (consumer/producer) price index. (2)
- Social indicators are concerned with people, such as education and (corruption/health). (2)
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Answers to activity 1
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Activity 2
Give ONE answer for each of the following:
- An international bank established to promote economic recovery and development (2)
- Used to establish the performance of the economy in terms of basic economic objectives of growth, price stability, exchange rate stability and full employment (2)
- It is depicted in the Lorenz curve and shows the distribution of income (2)
- The price of one country’s currency in terms of another country’s currency (2)
- Ratio of export and import prices (2)
[10]
Answers to activity 2
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Activity 3
Distinguish in tabular form between the Consumer Price Index and the Producer Price Index. (2 × 4) [8]
Answers to activity 3
| PPI | CPI |
Producer Price Index: an index that assesses the impact of changes in the relative prices of production inputs
| Consumer Price Index: an index that measures the price 3 of a fixed basket of consumer goods and services
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