economics 404 explain please

5.4 Study the extract below and answer the questions that follow. THE LOST CITY South Africa's very own lost city of gold, Mapungubwe, in the northern part of Limpopo, has a mesmerizing energy and calming aura that continues to fascinate historians and tourists alike. The site was discovered in 1933 and is said to be the remains of an Iron Age metropolis that flourished almost 1 000 years ago. The site has been extensively excavated since its discovery, revealing the incredible wealth of the people of Mapungubwe that included a little golden rhinoceros, a golden sceptre and a golden bowl discovered in the same grave. [Source: Limpopo Tourism and Leisure, 2013] 5.4.1 In which province is Mapungubwe situated? 5.4.2 Name any ONE valuable golden item found at Mapungubwe. 5.4.3 How can Mapungubwe contribute to a better tourism industry? 5.4.4 Name any other World Heritage Site found in South Africa. (1 x 2) 5.5 Distinguish between the consumer price index and the producer price index. (2 x4) 5.6 Discuss the South African government's policy on the preservation of environmental assets. (4 x 2)5.1 Choose the correct word(s) from those given in brackets. Write only the word(s) next to the question number (5.1.1-5.1.4) in the ANSWER BOOK. 5.1.1 When consumers gain access to large amounts of credit which enable them to buy more goods and services, it refers to (demand/cost) inflation. 5.1.2 The CPI is constructed and calculated by (Statistics South Africa/ the South African Development Bank). 5.1.3 Travelling or the movement of people from one place to another within the borders of the country refers to (domestic/foreign) tourism. 5.1.4 Increased industrial waste dumping leads to land (pollution/reform). (4 x 2) 5.2 Give THREE examples of administered prices, goods and services. (3 x 2) 5.3 Study the extract below and answer the questions that follow. NEW INFLATION HIGHER The official inflation rate will most probably rise when the CPI basket is adapted in January 2013 to include more products currently being used by most South African households, for example bread rolls, vodka, lawn mowers, washing machines and tablets (electronic devices), and to exclude products such as mustard, calculators, fish paste and viennas. An increase in the official rate of inflation may lead to more claims from workers to increase their wage and salary levels. Increased salaries in the public service will place an even greater burden on the budget deficit. This may even have serious consequences for interest rates in future. [Adapted from Beeld, November 2012] 5.3.1 Give another term for the unadjusted CPI inflation rate. 5.3.2 Sometimes certain goods are excluded when calculating a certain type of inflation. Name ONE good that will be excluded from the CPI basket in future. 5.3.3 Why will workers tend to claim higher wages when the official rate of inflation goes up? 5.3.4 Why do you think it was necessary to adapt the CPI basket?4.1 Choose the correct word(s) from those given in brackets. Write only the word(s) next to the question number (4.1.1-4.1.4) in the ANSWER BOOK. 4.1.1 Redistribution of income in South Africa is effected through the (banking/taxation) system. 4.1.2 Investment in physical and human capital is regarded as crucial for attracting global business and ensuring (short/long)-term economic growth. 4.1.3 The (World Bank/World Trade Organisation) monitors and liberalises international trade. 4.1.4 Developed countries experience (high/low) birth rates. (4 x2) 4.2 Name THREE policies used by the South African government to redress the inequalities of the past. (3 x 2) 4.3 Study the graph and extract below and answer the questions that follow. EMERGING MARKETS China $1 15,3 Brazil $43,8 Russian Federation $33,4 Mexico |$24,3 India $20,8 Indonesia $14,0 Malaysia $12,5 Chile $10,1 Turkey $8,2 South Africa $7,3 20 40 60 80 100 120 Rank value ($bn) [Source: Thomson Reuters] Of the top ten targeted emerging market nations, South Africa comes in last with $7,3 bn in real value. China's targets are the most favoured with a real value of $115,3 bn.3.3.1 Define the term market failure. 3.3.2 Identify the cause of market failure as depicted in C. 3.3.3 Explain how negative externalities (pollution) lead to market failure. 3.3.4 What measure can government take to deal with the negative impact of demerit goods? 3.4 Study the graph below and answer the questions that follow. Price MC AC AVC AR MR 0 Q1 Q2 Quantity 3.4.1 What quantity of goods will be produced by the individual firm? Give a reason for your answer. 3.4.2 Identify the profit depicted by point A. 3.4.3 Explain the importance of point B in relation to production and costs. 3.5 Discuss TWO aims of South Africa's competition policy. 3.6 Explain how collusion can influence an oligopoly market