Economics Grade 12 Questions and AnswersEconomic Growth and Development Economics Grade 12 Questions and Answers

Economic Growth and Development Economics Grade 12 Questions and Answers

Economic Growth and Development Economics Grade 12 Questions and Answers. Economic growth is a much narrower concept than economic development because it focuses on a single dimension, the GDP. In contrast, economic development is a broader concept that focuses on multiple dimensions including people’s income as well as their quality of life.

ECONOMIC GROWTH AND DEVELOPMENT QUESTIONS AND ANSWERS GRADE 12

Activity 1
act1Study the cartoon below and answer the questions that follow:

  1. What is the message behind the cartoon? (2)
  2. List any TWO countries involved in this phenomenon. (2)
  3. List any TWO products displayed in the cartoon. (4)
    [8]
Answers to activity 1

  1. Globalisation (2)
  2. USA and Japan(2)
  3. Motor vehicles and fuel (4)
    [8]

Activity 2
Study the cartoon below and answer the questions that follow:
act2

  1. What is the message behind the cartoon? (2)
  2. What is the main objective of Broad-Based Black Economic Empowerment? (2)
    [4]
Answers to activity 2

  1. The people are dissatisfied about the way the government
    is handling Black Economic Empowerment (corruption and
    nepotism). (2)
  2. To advantage the previously disadvantaged section of the
    population. (2)
    [4] 

 

Activity 3
Distinguish between economic growth and economic development. [8]

Answer to activity 3

Economic growthEconomic development
  • A process by which the productive capacity of the economy increases over time.
  • Leads to rising levels of national output and income.
  • Is an increase in real gross domestic product (GDP)
  • A process that concentrates on people’s standard of living, selfrespect and freedom of choice.
  • Growth should lead to development.
  • The ultimate aim of economic policy is an improved standard of living of the population per capita by means of economic growth and development.
    (any 2 × 2) × 2 [8]


Activity 4
Explain unequal standards of living as a characteristic of the North/South divide. [6]

Answer to activity 4

  • The real per capita income in developing countries is low compared to developed countries, e.g. 87% of the world’s total income is produced by 15% of the world’s population
  • Life expectancy in developing countries is as low as 47 years compared to a life expectancy of over 80 years in a country like Sweden
  • Low levels of education the adult literacy rate determines the effectiveness of education [6]

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