Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

economics grade 11 > Give a one word term for the description > Flashcards

Give a one word term for the description Flashcards

(82 cards)

Start Studying
1
Q

This occurs when the public sector policies do not accomplish their
intended purpose.

A

Ineffectiveness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Characteristics of the population such as size, race, age, sex, income,
language, occupation and so forth.

A

Demographics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

When people can trade with people in other countries, free of any
restraints that governments or other regulators impose.

A

Free-trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

The difference between merchandise imports and exports.

A

Trade balance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The economic policy implemented by the democratic government of
South Africa to reform the social and economic environment inherited from the previous government.

A

Reconstruction and Development Programme (RDP)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Government initiatives that aim to improve how the government functions in targeted spatial locations that have the greatest potential for economic growth.

A

Spatial Development Initiative (SDI)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The channel trough which household savings are channelled.

A

Financial market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

A situation where individuals still benefit from a good or service even if they do not pay for it.

A

Free riding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Policy focusing on diversification and expansion of manufacturing to make economies less dependent on foreign countries.

A

Import substitution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Increased economic integration leading to cultural and economic
harmony.

A

Globalisation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

A track of land that forms a passageway allowing access from one area to another.

A

Corridor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The distance in output between the peak and trough of a business
cycle.

A

Amplitude

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Restrictions of government on the purchase or sale of foreign currencies by private residents.

A

Exchange controls

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

A ban on exports and imports

A

Embargo

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

This approach refers to increasing the production capacity to contribute to economic growth.

A

Supply side approach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The Keynesians hold the view that markets are inherently unstable and use this explanation for business cycle fluctuations.

A

Endogenous

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

The proportion of disposable income which a household wishes to spend.

A

Autonomous consumption

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Infrastructure and investments that improve the overall welfare of society.

A

Social capital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The sum of the incomes of all resident institutional units or sectors.

A

National income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

A curve which shows the relationship between tax rates and tax revenue.

A

Laffer curve

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

The institution responsible for adjusting interest rates in South Africa.

A

SARB

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

The removal of unnecessary regulations and laws that advances operation of free markets.

A

Deregulation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Limits put on the supply of goods and services.

A

Qoutas

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

A composite statistic of life expectancy, education and income indexes that is used to rank countries’ human development.

A

Human Development Index.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Method of production by adding the final value of all goods and services.
Production method
26
Point on the business cycle where the economic performance is at its lowest.
Trough
27
The transfer of functions and ownership from the private to the public sector
Nationalisation
28
The process by which the standard of living improves.
Economic development
29
Discretionary changes in monetary and fiscal policy to try to change the level of aggregate demand.
Demand side policies
30
The index that measures prices of locally produced goods when they leave the factory.
Producer Price Index
31
A small initial change in spending leads to a greater than proportional increase in the national income.
Multiplier
32
Everyone can use these goods whether they are prepared to pay for them or not.
Community goods
33
A cash incentive granted for skills development
Skills Support Programme
34
An indication of the general direction of the economy
Trendline
35
The action by the South African Reserve Bank to occasionally change the balance that banks are required to maintain.
Cash reserve requirement
36
A deliberate downward adjustment to the value of a country’s currency, relative to another currency
Devaluation
37
A government policy that uses government expenditure and taxes to influence economic activity
Fiscal policy
38
The total market value of all final goods and services produced by permanent citizens of a country within a specific period
Gross National Product
39
When resources are allocated in such a way that no one can be made better off without making someone else worse off
Pareto efficiency
40
Compares a country's export prices with its import prices by means of indexes
Terms of trade
41
Selling goods in a foreign market at prices that are below the cost of production in the country of origin
Dumping
42
The number of employed persons expressed as a percentage of the economically active population
Employment rate
43
A representation of the economy showing how the economic participants interact with one another
Circular flow
44
Goods provided by the state which would be undersupplied if entirely left to market forces
Merit goods
45
An increase in a country’s real gross domestic product
Economic growth
46
Labour force between the ages of 15 and 65 who are willing and able to supply labour for the production of goods and services
Economically active population
47
The actual price paid by consumers for goods and services including taxes less subsidies
Market price
48
Government’s aim is to increase economic growth without increasing inflation
The new economic paradigm
49
The government department that oversees the collection, management and expenditure of public revenue
Department of finance
50
Countries that are transitioning from the “developing” phase to the “developed” phase
Emerging markets/economies
51
Support regional and national economic development and address service delivery in the poorest and least competent provinces
Strategic integrated projects
52
The labour force divided by the total working-age population
Labour force participation rate
53
Economic indicators that move at the same time as aggregate economic activities
Coincident Indicators
54
An indication of the general direction of the economy
Trend
55
The loss of an alternative in order to pursue a certain action
Opportunity cost
56
A nationwide government intervention to create employment using labour-intensive methods, and to give people the skills they can use to find jobs.
Expanded Public Works Programme
57
An institution established to facilitate international trade and ensure a strong system of trade and payments that is open to all countries
International Monetary Fund
58
Percentage of the working-age population who rely on those that are working.
Dependency rate
59
Value of all final goods and services produced by permanent citizens of the country over a specified period.
Gross national products
60
The action by the South African Reserve Bank to occasionally change the balance that banks are required to maintain.
Cash reserve requirements
61
When a country can produce specific goods and services at lower average cost than other countries.
Comparative advantage
62
The tax charged on an individual's personal assets such as properties and shares.
wealth tax
63
The policy implemented by the South Africa Reserve Bank to influence the economy.
Monetary policy
64
The decrease in the value of a currency due to market forces.
Depreciation
65
The use of different policies that are aimed at encouraging industrial investment and efficiency.
Industrial development
66
An economy that includes the foreign sector
Open economy
67
Measures the vertical difference between a trough and the trend line and between the peak and the trend line
Amplitude
68
Seeks to provide the disadvantaged and the poor with access to land for residential and productive purposes
Land redistribution
69
The state promotes domestic production of surpluses to increase exports and by mentoring changes in exchange rates.
Balance of payments equilibrium
70
The flow of goods, services and factors of production between households and businesses
Real flow
71
Business cycles that are caused by changes in construction activities, lasting for 15 to 20 years
Kuznets
72
Infrastructure and investment that improve the overall welfare of society
Social infrastructure
73
Measures the number of children that die before the age of one year
Infant mortality
74
A summary of the value of different leading indicators into a single value
Composite indicator
75
An economy that excludes the foreign sector
Closed
76
A transfer of functions and ownership from the public sector to the private sector
Privatisation
77
An increase in the price of a currency in terms of another currency due to market forces
Appreciation
78
When a country involved in international trade, produces more output than other countries given the same input
Absolute advantage
79
A document that details expected revenue and projected expenditure for the next fiscal year
National budget
80
Tax systems where low-income earners pay higher tax rates while high-income earners pay lower tax rates
Regressive
81
The provision of incentives to encourage local businesses to produce goods to sell to other countries
Export promotion
82
The industrial development strategy that focuses on improving the competitiveness in manufacturing by considering input prices and technology.
Integrated Manufacturing Strategy

economics grade 11 (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions