Modules

Question 1

What is inequality of income?

Answer 1

some people have large income while others have small income.

Question 2

What is inequality of oppertunity?

Answer 2

some people have opportunities that others do not have.

Question 3

What is the poverty line?

Answer 3

the minimum income to reach a persons basic needs.

Question 4

What is the poverty cycle?

Answer 4

the circle of events that keep people poor.

Question 5

What is the meaning of urban?

Answer 5

built up areas such as cities and towns.

Question 6

What are challenges?

Answer 6

problems that need to be overcome.

Question 7

What did the RDP programme aim to do.

Answer 7

rebuild and develop a strong south african economy.

rebuild and develop an equal democratic south african society.

develop all peoples education and skills and provide increased employment for all people

satisfy basic needs of all people.

Question 8

What is the meaning of sustainable?

Answer 8

capable of being maintained and continued.

Question 9

What is production?

Answer 9

the process of creating the final product.

Question 10

What are resources?

Answer 10

things we use to help us do something.

Question 11

What is economic growth?

Answer 11

When a countries economy gets bigger and stronger.

Question 12

What is productivity?

Answer 12

compares to the outputs of the production process and the input used to produce those outputs.

Question 13

How can the natural resource land be used more productively?

Answer 13

less land could be used to plant trees this could be achieved by planting trees that grow quickly and by using water efficently.

Question 14

What does it mean to automate?

Answer 14

make a system automatic so that the machine does the work.

Question 15

What are savings?

Answer 15

money put aside to save up for something.

Question 16

What is a merchant?

Answer 16

somebody who buys and sells goods.

Question 17

What is the renaissance?

Answer 17

the period in european history from about the fourteenth to sixteenth centuries.

Question 18

What is the meaning of competitive?

Answer 18

as good as or slightly better because of good value or having more worth.

Question 19

What is imperial?

Answer 19

involving or relating to the authority of a country over colonies or other countries.

Question 20

What are assets?

Answer 20

the items that make up the total value of a organization.

Question 21

What is money laundering?

Answer 21

the process of concealing the source of legally , illegally and gray area obtained money.

Question 22

What is a budget?

Answer 22

a road map to show future income and expenses.

Question 23

What is a restriction?

Answer 23

something that limits or controls something else.

Question 24

What is expenditure?

Answer 24

the amount of money spent on expenses and buying assets for the business.

Question 25

What is revenue?

Answer 25

money that comes into the business from the sale of goods or services.

Question 26

What is the meaning of accessible?

Answer 26

easy to enter or reach or easy to access.

Question 27

What is transparency?

Answer 27

clear and simple, east to understand or follow.

Question 28

What is accountability?

Answer 28

being responsible for someone or something.

Question 29

What is a surplus?

Answer 29

the amount of money left after all liabilities are met.

Question 30

What is a deficit?

Answer 30

the amount by which expenditure exceeds income or budget.

Question 31

What is an audit?

Answer 31

a formal examination, correction and official endorsing of financial accounts.

Question 32

What does it mean to analyse?

Answer 32

to examine something in great detail in order to understand it better or learn more about it.

Question 33

What does it mean to accumulate?

Answer 33

to collect or obtain large amounts of something over time.

Question 34

What is an entrepreneur?

Answer 34

someone who starts a business and works for themselves.

Question 35

What are characteristics?

Answer 35

specific qualities a person has.

Question 36

What is the meaning of viable?

Answer 36

something that has potential to be successful.

Question 37

What is demmand?

Answer 37

how much consumers are able and willing to buy.

Question 38

What is the public sector?

Answer 38

part of the economy made up of government and government owned businesses.

Question 39

What does it mean to specialise?

Answer 39

to focus on producing one type of product.