The Economy

Question 1

What is production?

Answer 1

The process of taking raw materials and transforming them into useful goods and services

Question 2

What is a template?

Answer 2

A pattern for a product

Question 3

What is the primary sector?

Answer 3

Extraction of natural resources from the earth (or sea)

e.g. crops, minerals, fishing, forestry

Question 4

What is the secondary sector?

Answer 4

Production of products from raw materials

Question 5

What does manufacture mean?

Answer 5

To make goods, usually using machines

Question 6

What is the tertiary sector?

Answer 6

Providing services (rather than goods)

Question 7

What is labour?

Answer 7

The physical and mental effort that people provide to produce goods and services

Question 8

What is capital?

Answer 8

The man-made objects that are used in the production process - mainly machines

Question 9

What are the two kinds of outputs of production processes?

Answer 9

Goods and services

Question 10

Does anybody find EMS very repetitive?

Answer 10

Doh!

Question 11

What is a renewable resource?

Answer 11

A natural resource that is replaced by some biological or natural process

Question 12

What is a non-renewable resource?

Answer 12

One that can’t be replaced

Question 13

What is sustainability?

Answer 13

Using resources in such a way that we do not deplete them

Question 14

What does deplete mean?

Answer 14

Keep using something until there’s nothing left

Question 15

Is your enjoyment of EMS sustainable?

Answer 15

Mêh!

Question 16

Give some examples of renewable resources

Answer 16

Water
Oxygen
Timber
Fruit and Vegetables
Meat from animals

Question 17

Give some examples of non-renewable resources

Answer 17

fossil fuels - coal, oil

minerals - copper

Question 18

What are strategies for sustainability?

Answer 18

Reuse resources - instead of throwing away
Reduce resource usage - eg use wind power instead of coal power
Recycle - e.g. water

Question 19

What is economic growth?

Answer 19

An increase in the level of economic output over time

Question 20

List strategies to stimulate economic growth?

Answer 20

Promoting entrepreneurship and new small businesses
Encouraging the expansion of existing businesses
Improving productivity of businesses
Improving production techniques
Better management of resources
Improving business management
Encouraging overseas investment in South Africa

Question 21

What are the consequences of economic growth?

Answer 21

More goods and services -> variety
Rising employment levels -> reduced poverty
Increased levels of income
Improved standard of living

Question 22

Do the poor always benefit from economic growth?

Answer 22

No. Sometimes the rich just get richer

Question 23

Who benefits from economic growth in SA?

Answer 23

The Guptas

Question 24

What is productivity?

Answer 24

How efficiently resources are used to generate products and services

Question 25

What is morale?

Answer 25

Confidence and enthusiasm?

Question 26

How high is your morale at the end of Grade 7?

Answer 26

Eish

Question 27

What are some strategies to improve productivity?

Answer 27

Improve motivation and morale of workers
Involve employees in decision making
Make more economical use of resources - reduce, reuse, recycle
Improve level of skill and expertise of workers
Use newer technology
Use incentives to reward productive workers
Use leadership and management to monitor and control actions of employees

Question 28

List some factors that have a negative effect on productivity of labour.

Answer 28

Ill health
Poor motivation
Absenteeism
Strikes and industrial action
The Guptas

Question 29

How does the government attempt to increase labour productivity?

Answer 29

Arresting parasitic Guptas
Ensure workers are educated and well trained
Take steps to improve health of workers
Take steps to ensure that workers are motivated
Make laws to compel employees to go to work except when they are sick (Really?)

Question 30

How does the government seek to increase the productivity of natural resources?

Answer 30

Arresting parasitic Guptas
Educating people about sustainability
Passing laws which prevent exploitation
Encourage people to use natural resources responsibly