Economics Examination Paper 2011
GRAAD 12
NATIONAL SENIOR CERTIFICATE
GRADE 12
ECONOMICS NOVEMBER 2011
MARKS: 300 TIME: 3 hours
This question paper consists of 16 pages.
Copyright reserved
Please turn over
Economics
2 NSC
DBE/November 2011
INSTRUCTIONS AND INFORMATION 1. Answer SIX questions as follows in the ANSWER BOOK: SECTION A: SECTION B: SECTION C: 2. 3. COMPULSORY Answer any THREE of the five questions. Answer any TWO of the four questions.
Write the question number above each answer. Number the answers correctly according to the numbering system used in this question paper. Read the questions carefully. Start EACH question on a NEW page. Leave 2–3 lines between subsections of questions. Answer in full sentences and ensure that the format, content and context of your responses comply with the requirements of the questions. Answer only the required number of questions. Answers in excess will NOT be marked. Use only black or blue ink. Non-programmable pocket calculators may be used. Write neatly and legibly.
4. 5. 6. 7.
8.
9. 10. 11.
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Economics
3 NSC
DBE/November 2011
SECTION A (COMPULSORY) QUESTION 1 1.1 50 MARKS – 25 MINUTES
Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A–C) next to the question number (1.1.1–1.1.12) in the ANSWER BOOK. 1.1.1 Consumption of fixed capital is used to calculate GDP at … A B C 1.1.2 basic prices. market prices. factor cost.
Which period of the business cycle is associated with rising profits and consumption? A B C Prosperity Downswing Trough
1.1.3
Deliberate action by the South African Reserve Bank to lower the value of the rand is known as … A B C depreciation. appreciation. devaluation.
1.1.4
Products of a perfect competitor are … A B C unique. differentiated. homogenous.
1.1.5
Industries where economies of scale are so large that a single business can supply the
NATIONAL SENIOR CERTIFICATE
GRADE 12
ECONOMICS NOVEMBER 2011
MARKS: 300 TIME: 3 hours
This question paper consists of 16 pages.
Copyright reserved
Please turn over
Economics
2 NSC
DBE/November 2011
INSTRUCTIONS AND INFORMATION 1. Answer SIX questions as follows in the ANSWER BOOK: SECTION A: SECTION B: SECTION C: 2. 3. COMPULSORY Answer any THREE of the five questions. Answer any TWO of the four questions.
Write the question number above each answer. Number the answers correctly according to the numbering system used in this question paper. Read the questions carefully. Start EACH question on a NEW page. Leave 2–3 lines between subsections of questions. Answer in full sentences and ensure that the format, content and context of your responses comply with the requirements of the questions. Answer only the required number of questions. Answers in excess will NOT be marked. Use only black or blue ink. Non-programmable pocket calculators may be used. Write neatly and legibly.
4. 5. 6. 7.
8.
9. 10. 11.
Copyright reserved
Please turn over
Economics
3 NSC
DBE/November 2011
SECTION A (COMPULSORY) QUESTION 1 1.1 50 MARKS – 25 MINUTES
Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A–C) next to the question number (1.1.1–1.1.12) in the ANSWER BOOK. 1.1.1 Consumption of fixed capital is used to calculate GDP at … A B C 1.1.2 basic prices. market prices. factor cost.
Which period of the business cycle is associated with rising profits and consumption? A B C Prosperity Downswing Trough
1.1.3
Deliberate action by the South African Reserve Bank to lower the value of the rand is known as … A B C depreciation. appreciation. devaluation.
1.1.4
Products of a perfect competitor are … A B C unique. differentiated. homogenous.
1.1.5
Industries where economies of scale are so large that a single business can supply the