Grade 12
Economics
0/13 Topics completed
Macro
- 01Circular flowIn a four-sector flow, one person's spending becomes another person's income, and the multiplier is that repeat, made smaller each time spending leaks into imports, tax or saving.
- 02Business cyclesLeading indicators move before the economy turns, coincident indicators move with it, and lagging indicators move after it.
- 03Public sectorThe budget sets government revenue against spending, a progressive tax takes a larger share as income rises, and public debt is borrowing the state still owes.
International
- 04Foreign exchange marketThe rand's price against the dollar is set by demand and supply of rands. Appreciation means the rand buys more foreign currency, and depreciation means it buys less.
- 05Protectionism and free tradeProtection uses tariffs, quotas and subsidies to shield local producers from imports, while free trade leaves those barriers down.
Development
- 06Economic growth and developmentEconomic growth means more output, while economic development means better health, better education and a fairer share of that output.
- 12Industrial policiesIndustrial policy is government's plan to grow factories and processing industries so the economy creates more jobs and exports.
- 13Economic and social indicatorsIndicators are numbers that show how well an economy and its people are doing over time and compared with other countries.
Micro
Contemporary
- 09InflationInflation is a sustained rise in the general price level, measured in South Africa mainly by Stats SA's consumer price index.
- 10TourismTourism brings spending into the economy that creates jobs, earns foreign exchange and multiplies through local businesses.
- 11Environmental sustainabilitySustainable development meets today's needs without running down the resources future generations will need.