3.3 Study the information below and answer the questions that follow. WORRYING UNEMPLOYMENT STATISTICS 6400 6200 6000 5800 5600 Thousands 5400 5201 5000 4800 4th 1 st and 3rd 4th 1 5t 3rd 4th and 2014 2015 2016 2017 PERIOD IN QUARTERS It is evident that unemployment figures have continued to rise over the past few years. Youth unemployment are rising, but can effectively be curbed through promotion of entrepreneurship by the government. [Source: StatsSA Quarterly Labour Report, July 2017] 3.3.1 When, according to the graph above, was unemployment at its highest level? 3.3.2 Which institution compiled the unemployment figures above? 3.3.3 Briefly describe the term unemployment. 3.3.4 What is the negative impact of high unemployment on the youth? 3.3.5 How can the government reduce unemployment in the economy? 3.4 Briefly discuss demographics as social indicator.QUESTION 3: ECONOMIC PURSUITS 3.1 Answer the following questions. 3.1.1 Name any TWO social indicators. 3.1.2 What can the government do during a period of recession to stimulate the economy? 3.2 Study the extract below and answer the questions that follow. MANUFACTURING IN SOUTH AFRICA South Africa has developed as an established, diversified manufacturing base with potential to compete in the global economy. This platform of manufacturing presents an opportunity to significantly accelerate the country's growth and development. The South African automotive industry is growing rapidly and is perfectly placed for investment opportunities. Vehicle manufacturers, such as BMW, Ford and Volkswagen, have production plants in South Africa and enjoy various production advantages. This might lead to trade agreements with the European Union and the Southern African Development Community free trade area. [Source: Brand South Africa, June 2017] 3.2.1 Name ONE vehicle manufacturer above, which have production plants in South Africa. 3.2.2 Identify ONE advantage of vehicle production plants located in South Africa in the extract above. 3.2.3 Briefly describe the term free trade area. 3.2.4 What is the purpose of the Southern African Development Community? 3.2.5 How could the government address poverty in South Africa through the manufacturing sector?3.3 Read the extract below and answer the questions that follow. Eskom CEO Phakamani Hadebe says that 2018 has been a challenging year for the power utility and the clean-up process has been time consuming, but necessary. Eskom says there is no quick fix to dealing with its myriad of problems following years of corruption, but it remains optimistic that with time, it can get on top of its challenges. Eskom is in a dire financial situation and needs over R70 billion to meet its financial obligations. [Source: NEWS 24] 3.3.1 Which body regulates the supply of electricity in South Africa? 3.3.2 Name ONE problem that the power utility has been faced with for years. 3.3.3 Describe the term parastatals. 3.3.4 Briefly explain ineffectiveness as a characteristic of public sector failure. 3.3.5 How can the South African government address the lack of accountability? 3.4 Discuss goal bound and demand biased as features of the fiscal policy. 3.5 How can open market transactions be used to smooth out business cycles?QUESTION 3: ECONOMIC PURSUITS 3.1 Answer the following questions. 3.1.1 Give TWO examples of leakages. 3.1.2 What effect will ad valorem tariffs have on luxury items? 3.2 Study the graph below and answer questions that follow. BUSINESS CYCLE Peak Real Expansion - GDP Time [Source: Internet.com] 3.2.1 How long does a Juglar cycle last? 3.2.2 What is the slope of the trendline in the above graph? 3.2.3 Describe the term composite indicator. 3 .2.4 Explain briefly the government's aim with business cycle policies. 3.2.5 How can the length be used in forecasting of business cycles?3.1 Answer the following questions. 3.1.1 List any TWO incentives used by the South African government to improve industrial development. (2 x 1) (2) 3.1.2 How can the National Development Plan bring about a better life for all? (1 x 2) (2) 3.2 Study the extract below and answer the questions that follow. COEGA INDUSTRIAL DEVELOPMENT ZONE (IDZ) The Coega IDZ is located close to Nelson Mandela Bay in South Africa's foremost investment hotspot for industries with a global perspective. Coega has successfully attracted a health mix of both local and international investors. [Adapted from www.coega.co.za] 3.2.1 What was the aim of government to implement the industrial development zones (IDZs)? 3.2.2 Name any of the services offered by the East London IDZ. 3.2.3 Describe the term industrial development zone. 3.2.4 Explain why the IDZ is regarded as a duty-free incentive. 2)3.3 Study the table below and answer the questions that follow. CONTRIBUTIONS TO GROWTH IN REAL GDP (%) SECTOR 2016 2017 2018 Primary sector -0,6 0,7 -0,1 Secondary sector 0,1 0,0 0, 1 Tertiary sector 1,1 0,5 0,7 Growth in total real GDP 0,6 1,3 0,8 (Source: SARB: Quarterly Bulletin, December 2018] 3.3.1 Name ONE category of the secondary sector. 3.3.2 What was the trend in the primary sector between 2017 and 2018? 3.3.3 Briefly describe the term Gross Domestic Product. 3.3.4 Explain the use of per capita GDP figures. 3.3.5 How does real growth of 0,8% negatively affect the economy? 3.4 Briefly discuss the cost of doing business as a supply-side approach in promoting growth and development in South Africa. (4 x 2) 3.5 How do international organisations such as the World Bank and United Nations standardise the indicators of member countries